{"id":478255,"date":"2021-12-07T03:08:33","date_gmt":"2021-12-07T03:08:33","guid":{"rendered":"https:\/\/wncen.com\/?p=478255"},"modified":"2024-06-11T14:09:35","modified_gmt":"2024-06-11T14:09:35","slug":"bitcoin-reclaims-50k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-reclaims-50k\/","title":{"rendered":"TA: Bitcoin Reclaims $50K, Why 100 SMA Is The Key For Larger Increase"},"content":{"rendered":"<p><em>Bitcoin is recovering and trading above $50,000 against the US Dollar. ETH must settle above $51,000 and the 100 hourly SMA to continue higher.<\/em><\/p>\n<ul>\n<li>Bitcoin started a recovery wave above the key $50,000 resistance zone.<\/li>\n<li>The price is now trading near $51,000 and the 100 hourly simple moving average.<\/li>\n<li>There is a short-term bullish trend line forming with support near $49,600 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 close above $51,000.<\/li>\n<\/ul>\n<h2>Bitcoin Price Gains Momentum<\/h2>\n<p>Bitcoin price started a <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-settles-below-50k\/\" target=\"_blank\" rel=\"noopener \">decent recovery wave<\/a> after a major decline below $45,000. BTC climbed back above the $46,500 and $48,000 resistance levels to start the recent recovery.<\/p>\n<p>The price is back above the $49,200 resistance level. There as a break above the 50% Fib retracement level of the key decline from the $57,690 swing high to $40,150 low. Besides, the bulls were able to push the price above the key $50,000 resistance zone.<\/p>\n<p>There is also a short-term bullish trend line forming with support near $49,600 on the hourly chart of the BTC\/USD pair. The pair is now trading near $51,000 and the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-below-56k-larger-decline\/\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>.<\/p>\n<p>An immediate resistance on the upside is near the $51,000 level and the 100 hourly SMA. It is close to the 61.8% Fib retracement level of the key decline from the $57,690 swing high to $40,150 low. A clear break above the $51,000 resistance zone could open the doors for more upsides.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/Bitcoin-4.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-478256\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/Bitcoin-4.png?resize=1950%2C1113\" alt=\"Bitcoin Price\" width=\"1950\" height=\"1113\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/Bitcoin-4.png?w=1950 1950w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/Bitcoin-4.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/Bitcoin-4.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/Bitcoin-4.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/Bitcoin-4.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/Bitcoin-4.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/Bitcoin-4.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<p>The next key resistance is near the $52,500 level, above which the price could accelerate higher. In the stated case, the price could rise towards the $53,500 level.<\/p>\n<h2>Fresh Decline In BTC?<\/h2>\n<p>If bitcoin fails to clear the $51,000 resistance zone, it could start a fresh downside correction. An immediate support on the downside is near the $50,200 level.<\/p>\n<p>The first major support is now forming near the $49,600 level and the trend line. A downside break below the $49,600 support may perhaps start a fresh decline. The next stop for the bears might be $46,000.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $50,200, followed by $49,600.<\/p>\n<p>Major Resistance Levels \u2013 $51,000, $52,500 and $53,500.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin is recovering and trading above $50,000 against the US Dollar. ETH must settle above $51,000 and the 100 hourly SMA to continue higher. Bitcoin started a recovery wave above the key $50,000 resistance zone. The price is now trading near $51,000 and the 100 hourly simple moving average. There is a short-term bullish trend line forming with support near $49,600 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 close above $51,000. Bitcoin Price Gains Momentum Bitcoin price started a decent recovery wave after a major decline below $45,000. BTC climbed back above the $46,500 and $48,000 resistance levels to start the recent recovery. The price is back above the $49,200 resistance level. There as a break above the 50% Fib retracement level of the key decline from the $57,690 swing high to $40,150 low. Besides, the bulls were able to push the price above the key $50,000 resistance zone. There is also a short-term bullish trend line forming with support near $49,600 on the hourly chart of the BTC\/USD pair. The pair is now trading near $51,000 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $51,000 level and the 100 hourly SMA. It is close to the 61.8% Fib retracement level of the key decline from the $57,690 swing high to $40,150 low. A clear break above the $51,000 resistance zone could open the doors for more upsides. The next key resistance is near the $52,500 level, above which the price could accelerate higher. In the stated case, the price could rise towards the $53,500 level. Fresh Decline In BTC? If bitcoin fails to clear the $51,000 resistance zone, it could start a fresh downside correction. An immediate support on the downside is near the $50,200 level. The first major support is now forming near the $49,600 level and the trend line. A downside break below the $49,600 support may perhaps start a fresh decline. The next stop for the bears might be $46,000. Technical indicators: Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently above the 50 level. Major Support Levels \u2013 $50,200, followed by $49,600. Major Resistance Levels \u2013 $51,000, $52,500 and $53,500.<\/p>\n","protected":false},"author":67,"featured_media":463643,"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-478255","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 Reclaims $50K, Why 100 SMA Is The Key For Larger Increase<\/title>\n<meta name=\"description\" content=\"Bitcoin is recovering and trading above $50,000 against the US Dollar. 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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 Reclaims $50K, Why 100 SMA Is The Key For Larger Increase","url":"http:\/\/wncen.com\/news\/bitcoin-reclaims-50k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-reclaims-50k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/shutterstock_609209402.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/shutterstock_609209402.jpg?fit=1000%2C554"},"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":"2021-12-07T03:08:33Z","datePublished":"2021-12-07T03:08:33Z","dateModified":"2024-06-11T14:09:35Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Bitcoin Reclaims $50K, Why 100 SMA Is The Key For Larger Increase\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-reclaims-50k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-reclaims-50k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_609209402.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_609209402.jpg?fit=1000%2C554\"},\"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\":\"2021-12-07T03:08:33Z\",\"datePublished\":\"2021-12-07T03:08:33Z\",\"dateModified\":\"2024-06-11T14:09:35Z\"}<\/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\/05\/shutterstock_609209402.jpg?fit=1000%2C554","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/478255"}],"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=478255"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/478255\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/463643"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=478255"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=478255"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=478255"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}