{"id":456895,"date":"2021-02-17T03:18:53","date_gmt":"2021-02-17T03:18:53","guid":{"rendered":"https:\/\/wncen.com\/?p=456895"},"modified":"2024-06-11T14:13:23","modified_gmt":"2024-06-11T14:13:23","slug":"bitcoin-btc-could-test-52k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-btc-could-test-52k\/","title":{"rendered":"TA: Bitcoin Claims $50K, Why BTC Could Continue Higher To $52K"},"content":{"rendered":"
Bitcoin price gained bullish momentum and broke the $50,000 resistance against the US Dollar. BTC is holding gains and it seems like it could rise further towards the $52,000 level.<\/em><\/p>\n Finally, bitcoin price was able to clear the $50,000 resistance<\/a> zone. BTC climbed above the $50,200 and $50,500 levels. It traded to a new all-time high at $50,600 before correcting lower.<\/p>\n There was a sharp correction below the $50,000 level. The price even spiked below the $49,000 support level. However, the bulls were active near the $48,000 zone and the 100 hourly simple moving average. A low is formed near $47,819 and the price is currently rising.<\/p>\n Bitcoin is trading above the 50% Fib retracement level of the downward correction<\/a> from the $50,600 swing high to $47,819 low. There was also a break above a key contracting triangle with resistance near $49,500 on the hourly chart of the BTC\/USD pair.<\/p>\n <\/a><\/p>\n The price is trading nicely near $50,000 and it is well above the 100 hourly simple moving average. It is testing the 76.4% Fib retracement level of the downward correction from the $50,600 swing high to $47,819 low.<\/p>\n It seems like the price is likely to continue higher towards the $50,600 high. Any more gains might easily push the price above the $51,000 level. The next key resistance sits at $52,000.<\/p>\n If bitcoin fails to settle above the $50,000 and $50,200 levels, there could be a downside correction. An initial support is near the $49,500 level and the broken triangle trend line.<\/p>\n A downside break below the $49,500 level could lead the price towards the $48,000 support. The 100 hourly simple moving average is also sitting near $48,000 to provide support.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is gaining momentum in the bullish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now well above the 50 level.<\/p>\n Major Support Levels \u2013 $49,500, followed by $49,000.<\/p>\n Major Resistance Levels \u2013 $50,500, $51,000 and $52,000.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin price gained bullish momentum and broke the $50,000 resistance against the US Dollar. BTC is holding gains and it seems like it could rise further towards the $52,000 level. Bitcoin broke the $50,000 resistance and traded to a new all-time high near $50,600. The price is trading nicely near $50,000 and it is well above the 100 hourly simple moving average. There was a break above a key contracting triangle with resistance near $49,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is likely to continue higher towards $52,000 as long as it is above the $48,000 support. Bitcoin Price is Extending Gains Finally, bitcoin price was able to clear the $50,000 resistance zone. BTC climbed above the $50,200 and $50,500 levels. It traded to a new all-time high at $50,600 before correcting lower. There was a sharp correction below the $50,000 level. The price even spiked below the $49,000 support level. However, the bulls were active near the $48,000 zone and the 100 hourly simple moving average. A low is formed near $47,819 and the price is currently rising. Bitcoin is trading above the 50% Fib retracement level of the downward correction from the $50,600 swing high to $47,819 low. There was also a break above a key contracting triangle with resistance near $49,500 on the hourly chart of the BTC\/USD pair. Source: BTCUSD on TradingView.com The price is trading nicely near $50,000 and it is well above the 100 hourly simple moving average. It is testing the 76.4% Fib retracement level of the downward correction from the $50,600 swing high to $47,819 low. It seems like the price is likely to continue higher towards the $50,600 high. Any more gains might easily push the price above the $51,000 level. The next key resistance sits at $52,000. Fresh Dip in BTC? If bitcoin fails to settle above the $50,000 and $50,200 levels, there could be a downside correction. An initial support is near the $49,500 level and the broken triangle trend line. A downside break below the $49,500 level could lead the price towards the $48,000 support. The 100 hourly simple moving average is also sitting near $48,000 to provide support. Technical indicators: Hourly MACD \u2013 The MACD is gaining momentum in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now well above the 50 level. Major Support Levels \u2013 $49,500, followed by $49,000. Major Resistance Levels \u2013 $50,500, $51,000 and $52,000.<\/p>\n","protected":false},"author":67,"featured_media":456897,"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-456895","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 is Extending Gains<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Fresh Dip in BTC?<\/h2>\n