BTCUSD on TradingView.com<\/a><\/p>\nThe next stop for the bulls may perhaps be $54,400. A clear move above the $54,400 resistance could send the price toward the $55,000 resistance. The next resistance could be near the $56,500 level.<\/p>\n
Downside Correction In BTC?<\/h2>\n If Bitcoin fails to rise above the $52,500 resistance zone, it could start another downside correction in the near term. Immediate support on the downside is near the $51,500 level and the first trend line.<\/p>\n
The first major support is $50,500 and the 50% Fib retracement level of the recent wave from the $48,240 swing low to the $52,493 high. If there is a close below $50,500, the price could gain bearish momentum. In the stated case, the price could dive toward the $49,200 support and the second trend line.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n
Major Support Levels \u2013 $51,500, followed by $50,500.<\/p>\n
Major Resistance Levels \u2013 $52,500, $53,200, and $54,400.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price extended its increase above the $52,000 resistance. BTC is consolidating gains and might aim for more upsides toward the $55,000 resistance. Bitcoin price remained in a bullish zone above the $51,000 and $51,200 levels. The price is trading above $51,200 and the 100 hourly Simple moving average. There are two bullish trend lines forming with support at $51,450 and $49,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could continue to move up if it clears the $52,500 resistance zone. Bitcoin Price Extends Rally Bitcoin price started a steady increase above the $50,000 resistance zone. BTC gained strength above the $50,500 and $51,200 levels. It even spiked above the $52,000 resistance zone. A new multi-week high was formed near $52,493 and the price is now consolidating gains. It is holding gains above the 23.6% Fib retracement level of the recent wave from the $48,240 swing low to the $52,493 high. There are also two bullish trend lines forming with support at $51,450 and $49,200 on the hourly chart of the BTC\/USD pair. Bitcoin is now trading above $51,200 and the 100 hourly Simple moving average. Immediate resistance is near the $52,500 level. The next key resistance could be $53,200, above which the price could extend its rally. Source: BTCUSD on TradingView.com The next stop for the bulls may perhaps be $54,400. A clear move above the $54,400 resistance could send the price toward the $55,000 resistance. The next resistance could be near the $56,500 level. Downside Correction In BTC? If Bitcoin fails to rise above the $52,500 resistance zone, it could start another downside correction in the near term. Immediate support on the downside is near the $51,500 level and the first trend line. The first major support is $50,500 and the 50% Fib retracement level of the recent wave from the $48,240 swing low to the $52,493 high. If there is a close below $50,500, the price could gain bearish momentum. In the stated case, the price could dive toward the $49,200 support and the second trend line. 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 now above the 50 level. Major Support Levels \u2013 $51,500, followed by $50,500. Major Resistance Levels \u2013 $52,500, $53,200, and $54,400.<\/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":[428,679,1144,78790,76835],"class_list":["post-575164","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n
Will Bitcoin Bulls Be Able to Hit $55K Barrier This Week?<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n