{"id":473059,"date":"2021-10-05T03:08:36","date_gmt":"2021-10-05T03:08:36","guid":{"rendered":"https:\/\/wncen.com\/?p=473059"},"modified":"2024-06-11T13:59:12","modified_gmt":"2024-06-11T13:59:12","slug":"bitcoin-bulls-keeps-pushing-50k-2","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-bulls-keeps-pushing-50k-2\/","title":{"rendered":"TA: Bitcoin Bulls Keeps Pushing, Why Rally Isn\u2019t Over Yet 2021-10-05"},"content":{"rendered":"<p><em>Bitcoin price extended its increase above $49,000 against the US Dollar. BTC might continue to rally and it could even surpass the $50,000 resistance in the near term.<\/em><\/p>\n<ul>\n<li>Bitcoin climbed higher above the $47,500 and $48,500 resistance levels.<\/li>\n<li>The price is now trading above $48,000 and the 100 hourly simple moving average.<\/li>\n<li>There is a major bullish trend line forming with support near $48,400 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could correct lower, but it might find support near $47,400 or $47,000.<\/li>\n<\/ul>\n<h2>Bitcoin Price Remains In Uptrend<\/h2>\n<p>Bitcoin price started a <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-turns-green-50k\/\" target=\"_blank\" rel=\"noopener \">strong increase<\/a> above the $46,500 resistance level. BTC broke the $47,500 resistance level and settled above the 100 hourly simple moving average.<\/p>\n<p>It even climbed above $49,000 before correcting lower. However, downsides were limited below the $46,500 support zone. A low was formed near $46,895 and the price started a fresh increase. It climbed higher above the $47,500 and $48,500 resistance levels.<\/p>\n<p>Bitcoin is now trading above $48,000 and the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-reaches-crucial-juncture-44k\/\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>. A high is formed near $49,750 and it is now consolidating gains. An immediate support on the downside is near the $49,000 level.<\/p>\n<p>It is close to the 23.6% Fib retracement level of the recent wave from the $46,895 swing low to $49,750 high. There is also a major bullish trend line forming with support near $48,400 on the hourly chart of the BTC\/USD pair.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/10\/Bitcoin-2.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-473060\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/10\/Bitcoin-2.png?resize=1834%2C848\" alt=\"Bitcoin Price\" width=\"1834\" height=\"848\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/10\/Bitcoin-2.png?w=1834 1834w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/10\/Bitcoin-2.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/10\/Bitcoin-2.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/10\/Bitcoin-2.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/10\/Bitcoin-2.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/10\/Bitcoin-2.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/10\/Bitcoin-2.png?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<pre>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/pre>\n<p>On the upside, an immediate resistance is near the $49,600 level. The first major resistance is near the $49,750 level, above which the price could visit $50,000. A close above the $50,000 level could start another increase in the near term. The next major stop for the bulls may possibly be near the $52,000 level.<\/p>\n<h2>Dips Limited In BTC?<\/h2>\n<p>If bitcoin fails to clear the $50,000 resistance zone, it could start a fresh downside correction. An immediate support on the downside is near the $49,000 level.<\/p>\n<p>The first major support is now forming near the $48,400 level and the trend line. It is near the 50% Fib retracement level of the recent wave from the $46,895 swing low to $49,750 high. A break below the trend line support might push the price towards the $47,550 level and the 100 hourly SMA.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now losing pace in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is well above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $48,400, followed by $47,550.<\/p>\n<p>Major Resistance Levels \u2013 $49,500, $50,000 and $52,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price extended its increase above $49,000 against the US Dollar. BTC might continue to rally and it could even surpass the $50,000 resistance in the near term. Bitcoin climbed higher above the $47,500 and $48,500 resistance levels. The price is now trading above $48,000 and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $48,400 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could correct lower, but it might find support near $47,400 or $47,000. Bitcoin Price Remains In Uptrend Bitcoin price started a strong increase above the $46,500 resistance level. BTC broke the $47,500 resistance level and settled above the 100 hourly simple moving average. It even climbed above $49,000 before correcting lower. However, downsides were limited below the $46,500 support zone. A low was formed near $46,895 and the price started a fresh increase. It climbed higher above the $47,500 and $48,500 resistance levels. Bitcoin is now trading above $48,000 and the 100 hourly simple moving average. A high is formed near $49,750 and it is now consolidating gains. An immediate support on the downside is near the $49,000 level. It is close to the 23.6% Fib retracement level of the recent wave from the $46,895 swing low to $49,750 high. There is also a major bullish trend line forming with support near $48,400 on the hourly chart of the BTC\/USD pair. Source: BTCUSD on TradingView.com On the upside, an immediate resistance is near the $49,600 level. The first major resistance is near the $49,750 level, above which the price could visit $50,000. A close above the $50,000 level could start another increase in the near term. The next major stop for the bulls may possibly be near the $52,000 level. Dips Limited In BTC? If bitcoin fails to clear the $50,000 resistance zone, it could start a fresh downside correction. An immediate support on the downside is near the $49,000 level. The first major support is now forming near the $48,400 level and the trend line. It is near the 50% Fib retracement level of the recent wave from the $46,895 swing low to $49,750 high. A break below the trend line support might push the price towards the $47,550 level and the 100 hourly SMA. Technical indicators: Hourly MACD \u2013 The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is well above the 50 level. Major Support Levels \u2013 $48,400, followed by $47,550. Major Resistance Levels \u2013 $49,500, $50,000 and $52,000.<\/p>\n","protected":false},"author":67,"featured_media":460128,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1144,78790,76835],"class_list":["post-473059","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n<title>TA: Bitcoin Bulls Keeps Pushing, Why Rally Isn\u2019t Over Yet 2021-10-05<\/title>\n<meta name=\"description\" content=\"Bitcoin price extended its increase above $49,000 against the US Dollar. 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