{"id":478146,"date":"2021-12-06T03:08:27","date_gmt":"2021-12-06T03:08:27","guid":{"rendered":"https:\/\/wncen.com\/?p=478146"},"modified":"2024-06-11T08:36:08","modified_gmt":"2024-06-11T08:36:08","slug":"bitcoin-settles-below-50k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-settles-below-50k\/","title":{"rendered":"TA: Bitcoin Settles Below $50K, What Could Initiate A Fresh Rally"},"content":{"rendered":"<p><em>Bitcoin declined heavily and it even spiked towards $40K against the US Dollar. BTC is recovering, but it must clear $50K for a steady increase in the near term.<\/em><\/p>\n<ul>\n<li>Bitcoin is attempting a recovery wave above the $47,000 and $47,500 levels.<\/li>\n<li>The price is now trading below $50,000 and the 100 hourly simple moving average.<\/li>\n<li>There is a key bullish trend line forming with support near $48,600 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could start a decent upward move if there is a clear break above $50,000.<\/li>\n<\/ul>\n<h2>Bitcoin Price is Recovering Losses<\/h2>\n<p>Bitcoin price failed to stay above the $52,000 and $50,000 support levels. BTC declined heavily and broke many <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-below-56k-larger-decline\/\" target=\"_blank\" rel=\"noopener \">important supports<\/a> near the $48,000 level.<\/p>\n<p>It even dived below the $45,000 level and traded close to the $40,000 level. A low was formed near $40,150 and the price is now recovering losses. It climbed above the $45,000 resistance zone. There was a break above the 50% Fib retracement level of the recent decline from the $57,688 swing high to $40,150 low.<\/p>\n<p>It is now trading below $50,000 and the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-shows-bearish-signs-56k\/\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>. There is also a key bullish trend line forming with support near $48,600 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>An immediate resistance on the upside is near the $49,600 level. The first major resistance is near the $60,000 level. The next major resistance is near $50,900. It is close to the 61.8% Fib retracement level of the recent decline from the $57,688 swing high to $40,150 low.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/Bitcoin-3.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-478147\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/Bitcoin-3.png?resize=1950%2C1113\" alt=\"Bitcoin Price\" width=\"1950\" height=\"1113\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/Bitcoin-3.png?w=1950 1950w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/Bitcoin-3.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/Bitcoin-3.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/Bitcoin-3.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/Bitcoin-3.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/Bitcoin-3.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/Bitcoin-3.png?w=1140 1140w\" sizes=\"(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>A clear break above the $50,900 resistance zone could open the doors for more upsides. The next key resistance is near the $52,500 level, above which the price could rise steadily. The next stop for the bulls may possibly be near the $53,500 level.<\/p>\n<h2>More Losses In BTC?<\/h2>\n<p>If bitcoin fails to clear the $50,000 resistance zone, it could extend losses. An immediate support on the downside is near the $48,500 level.<\/p>\n<p>The first major support is now forming near the $47,500 level. A downside break below the $47,500 support may perhaps start a sharp decline. The next stop for the bears might be $55,000.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now losing pace in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently near the 50 level.<\/p>\n<p>Major Support Levels \u2013 $48,500, followed by $45,000.<\/p>\n<p>Major Resistance Levels \u2013 $50,000, $50,900 and $52,500.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin declined heavily and it even spiked towards $40K against the US Dollar. BTC is recovering, but it must clear $50K for a steady increase in the near term. Bitcoin is attempting a recovery wave above the $47,000 and $47,500 levels. The price is now trading below $50,000 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $48,600 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start a decent upward move if there is a clear break above $50,000. Bitcoin Price is Recovering Losses Bitcoin price failed to stay above the $52,000 and $50,000 support levels. BTC declined heavily and broke many important supports near the $48,000 level. It even dived below the $45,000 level and traded close to the $40,000 level. A low was formed near $40,150 and the price is now recovering losses. It climbed above the $45,000 resistance zone. There was a break above the 50% Fib retracement level of the recent decline from the $57,688 swing high to $40,150 low. It is now trading below $50,000 and the 100 hourly simple moving average. There is also a key bullish trend line forming with support near $48,600 on the hourly chart of the BTC\/USD pair. An immediate resistance on the upside is near the $49,600 level. The first major resistance is near the $60,000 level. The next major resistance is near $50,900. It is close to the 61.8% Fib retracement level of the recent decline from the $57,688 swing high to $40,150 low. Source: BTCUSD on TradingView.com A clear break above the $50,900 resistance zone could open the doors for more upsides. The next key resistance is near the $52,500 level, above which the price could rise steadily. The next stop for the bulls may possibly be near the $53,500 level. More Losses In BTC? If bitcoin fails to clear the $50,000 resistance zone, it could extend losses. An immediate support on the downside is near the $48,500 level. The first major support is now forming near the $47,500 level. A downside break below the $47,500 support may perhaps start a sharp decline. The next stop for the bears might be $55,000. Technical indicators: Hourly MACD \u2013 The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently near the 50 level. Major Support Levels \u2013 $48,500, followed by $45,000. Major Resistance Levels \u2013 $50,000, $50,900 and $52,500.<\/p>\n","protected":false},"author":67,"featured_media":461535,"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-478146","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 Settles Below $50K, What Could Initiate A Fresh Rally<\/title>\n<meta name=\"description\" content=\"Bitcoin declined heavily and it even spiked towards $40K against the US Dollar. 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Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation. As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.","sameAs":["https:\/\/www.linkedin.com\/in\/aayush-jindal-358b6932\/","https:\/\/x.com\/twitter.com\/AayushJs"],"url":"https:\/\/wncen.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"TA: Bitcoin Settles Below $50K, What Could Initiate A Fresh Rally","url":"http:\/\/wncen.com\/news\/bitcoin-settles-below-50k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-settles-below-50k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/shutterstock_649452289.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/shutterstock_649452289.jpg?fit=1000%2C666"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btcusd","btcusdt","xbtusd"],"dateCreated":"2021-12-06T03:08:27Z","datePublished":"2021-12-06T03:08:27Z","dateModified":"2024-06-11T08:36:08Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Bitcoin Settles Below $50K, What Could Initiate A Fresh Rally\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-settles-below-50k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-settles-below-50k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_649452289.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_649452289.jpg?fit=1000%2C666\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btcusd\",\"btcusdt\",\"xbtusd\"],\"dateCreated\":\"2021-12-06T03:08:27Z\",\"datePublished\":\"2021-12-06T03:08:27Z\",\"dateModified\":\"2024-06-11T08:36:08Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/shutterstock_649452289.jpg?fit=1000%2C666","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/478146"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=478146"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/478146\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/461535"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=478146"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=478146"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=478146"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}