{"id":479512,"date":"2021-12-22T04:08:32","date_gmt":"2021-12-22T04:08:32","guid":{"rendered":"https:\/\/wncen.com\/?p=479512"},"modified":"2024-06-11T14:10:03","modified_gmt":"2024-06-11T14:10:03","slug":"bitcoin-gains-momentum-50k-2","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-gains-momentum-50k-2\/","title":{"rendered":"TA: Bitcoin Gains Momentum, Why Rally Isn\u2019t Over Yet"},"content":{"rendered":"
Bitcoin started a fresh increase from the $45,500 zone against the US Dollar. BTC is rising and there could be a strong move above the $50,000 resistance.<\/em><\/p>\n Bitcoin price formed a base and started a fresh increase<\/a> above the $46,500 level. BTC gained pace for a move above the $47,500 level and the 100 hourly simple moving average.<\/p>\n The upward move was such that the price broke the $48,500 resistance<\/a>. There was a clear move above the 76.4% Fib retracement level of the key decline from the $48,289 swing high to $45,600 low. The bulls even pushed the price above the $49,000 level.<\/p>\n A high is formed near $49,600 and the price is now showing a lot of positive signs. There is also a key rising channel forming with support near $48,750 on the hourly chart of the BTC\/USD pair.<\/p>\n <\/a><\/p>\n Bitcoin is trading well above the 23.6% Fib retracement level of the upward move from the $48,295 swing low to $49,600 high. It is facing resistance near the $49,600 zone. The next key resistance could be $50,000. A clear move above the $50,000 resistance zone could set the pace for a larger increase. The next major stop for the bulls may possibly be near the $51,200 level.<\/p>\n 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 $49,200 level.<\/p>\n The first major support is near $49,000. It is near the 50% Fib retracement level of the upward move from the $48,295 swing low to $49,600 high. A downside break below the $49,000 level could push the price towards the $48,500 support, below which the price could test $48,800.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is slowly gaining pace in the bullish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently well above the 50 level.<\/p>\n Major Support Levels \u2013 $49,000, followed by $48,500.<\/p>\n Major Resistance Levels \u2013 $49,600, $50,000 and $51,200.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin started a fresh increase from the $45,500 zone against the US Dollar. BTC is rising and there could be a strong move above the $50,000 resistance. Bitcoin started a fresh increase above the $48,500 resistance zone. The price is now trading above $48,000 and the 100 hourly simple moving average. There is a key rising channel forming with support near $48,750 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could accelerate further higher above the $50,000 resistance. Bitcoin Price Extends Recovery Bitcoin price formed a base and started a fresh increase above the $46,500 level. BTC gained pace for a move above the $47,500 level and the 100 hourly simple moving average. The upward move was such that the price broke the $48,500 resistance. There was a clear move above the 76.4% Fib retracement level of the key decline from the $48,289 swing high to $45,600 low. The bulls even pushed the price above the $49,000 level. A high is formed near $49,600 and the price is now showing a lot of positive signs. There is also a key rising channel forming with support near $48,750 on the hourly chart of the BTC\/USD pair. Source: BTCUSD on TradingView.com Bitcoin is trading well above the 23.6% Fib retracement level of the upward move from the $48,295 swing low to $49,600 high. It is facing resistance near the $49,600 zone. The next key resistance could be $50,000. A clear move above the $50,000 resistance zone could set the pace for a larger increase. The next major stop for the bulls may possibly be near the $51,200 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 $49,200 level. The first major support is near $49,000. It is near the 50% Fib retracement level of the upward move from the $48,295 swing low to $49,600 high. A downside break below the $49,000 level could push the price towards the $48,500 support, below which the price could test $48,800. Technical indicators: Hourly MACD \u2013 The MACD is slowly gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently well above the 50 level. Major Support Levels \u2013 $49,000, followed by $48,500. Major Resistance Levels \u2013 $49,600, $50,000 and $51,200.<\/p>\n","protected":false},"author":67,"featured_media":462274,"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-479512","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\n
Bitcoin Price Extends Recovery<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Dips Limited In BTC?<\/h2>\n