{"id":461701,"date":"2021-04-20T03:08:49","date_gmt":"2021-04-20T03:08:49","guid":{"rendered":"https:\/\/wncen.com\/?p=461701"},"modified":"2024-06-11T13:55:06","modified_gmt":"2024-06-11T13:55:06","slug":"bitcoin-price-primed-to-revisit-52k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-primed-to-revisit-52k\/","title":{"rendered":"TA: Here\u2019s Why Bitcoin Price Is Primed To Revisit $52K Support"},"content":{"rendered":"<p><em>Bitcoin price struggled to recover above $57,500 against the US Dollar. BTC is now declining and it remains at a risk of more downsides towards $52,000.<\/em><\/p>\n<ul>\n<li>Bitcoin is facing an uphill task above the $57,000 and $57,500 levels.<\/li>\n<li>The price is now trading well below the $57,000 level and the 100 hourly simple moving average.<\/li>\n<li>There is a key declining channel forming with resistance near $56,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair is likely to continue lower towards $53,000 and $52,000 in the near term.<\/li>\n<\/ul>\n<h2>Bitcoin Price Resumes Decline<\/h2>\n<p>Bitcoin started a decent <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-nosedives-5k\/\" target=\"_blank\" rel=\"noopener \">recovery wave<\/a> above the $55,000 resistance zone. BTC broke the $56,500 and $57,000 resistance levels.<\/p>\n<p>There was a break above the 23.6% Fib retracement level of the downward move from the $63,750 swing high to $51,150 swing low. However, the bulls faced an uphill task near the $57,500 level and it also remained well below the 100 hourly simple moving average.<\/p>\n<p>It seems like bitcoin was rejected near the 50% Fib retracement level of the downward move from the $63,750 swing high to $51,150 swing low. It is now trading well below the $57,000 level and the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-btc-could-surge-64k\/\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/Bitcoin-15.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-461702\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/Bitcoin-15.png?resize=1828%2C867\" alt=\"Bitcoin Price\" width=\"1828\" height=\"867\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/Bitcoin-15.png?w=1828 1828w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/Bitcoin-15.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/Bitcoin-15.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/Bitcoin-15.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/Bitcoin-15.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/Bitcoin-15.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/Bitcoin-15.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>There is also a key declining channel forming with resistance near $56,000 on the hourly chart of the BTC\/USD pair. If there is a downside break below the channel support at $54,000, there is a risk of a drop towards the $53,000 support zone. The next major support is near $52,000, where the bulls might take a stand.<\/p>\n<h2>Upsides Capped in BTC?<\/h2>\n<p>If bitcoin remains stable above the $54,000 level, it could attempt an upside break. The first key resistance is near the channel trend line at $56,000.<\/p>\n<p>An upside break above the channel resistance could open the doors for a move towards the $57,500 resistance. The next major hurdle for the bulls could be $58,000 or the 100 hourly simple moving average. A close above the $57,500 and $58,000 levels is must to change the current bearish bias in the near term.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is slowly gaining momentum in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now well below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $54,000, followed by $52,000.<\/p>\n<p>Major Resistance Levels \u2013 $56,000, $57,000 and $57,500.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price struggled to recover above $57,500 against the US Dollar. BTC is now declining and it remains at a risk of more downsides towards $52,000. Bitcoin is facing an uphill task above the $57,000 and $57,500 levels. The price is now trading well below the $57,000 level and the 100 hourly simple moving average. There is a key declining channel forming with resistance near $56,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is likely to continue lower towards $53,000 and $52,000 in the near term. Bitcoin Price Resumes Decline Bitcoin started a decent recovery wave above the $55,000 resistance zone. BTC broke the $56,500 and $57,000 resistance levels. There was a break above the 23.6% Fib retracement level of the downward move from the $63,750 swing high to $51,150 swing low. However, the bulls faced an uphill task near the $57,500 level and it also remained well below the 100 hourly simple moving average. It seems like bitcoin was rejected near the 50% Fib retracement level of the downward move from the $63,750 swing high to $51,150 swing low. It is now trading well below the $57,000 level and the 100 hourly simple moving average. Source: BTCUSD on TradingView.com There is also a key declining channel forming with resistance near $56,000 on the hourly chart of the BTC\/USD pair. If there is a downside break below the channel support at $54,000, there is a risk of a drop towards the $53,000 support zone. The next major support is near $52,000, where the bulls might take a stand. Upsides Capped in BTC? If bitcoin remains stable above the $54,000 level, it could attempt an upside break. The first key resistance is near the channel trend line at $56,000. An upside break above the channel resistance could open the doors for a move towards the $57,500 resistance. The next major hurdle for the bulls could be $58,000 or the 100 hourly simple moving average. A close above the $57,500 and $58,000 levels is must to change the current bearish bias in the near term. Technical indicators: Hourly MACD \u2013 The MACD is slowly gaining momentum in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now well below the 50 level. Major Support Levels \u2013 $54,000, followed by $52,000. Major Resistance Levels \u2013 $56,000, $57,000 and $57,500.<\/p>\n","protected":false},"author":67,"featured_media":461703,"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-461701","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: Here\u2019s Why Bitcoin Price Is Primed To Revisit $52K Support<\/title>\n<meta name=\"description\" content=\"Bitcoin price struggled to recover above $57,500 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: Here\u2019s Why Bitcoin Price Is Primed To Revisit $52K Support","url":"http:\/\/wncen.com\/news\/bitcoin-price-primed-to-revisit-52k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-price-primed-to-revisit-52k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/shutterstock_1489955045.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/shutterstock_1489955045.jpg?fit=1000%2C667"},"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":"2021-04-20T03:08:49Z","datePublished":"2021-04-20T03:08:49Z","dateModified":"2024-06-11T13:55:06Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Here\\u2019s Why Bitcoin Price Is Primed To Revisit $52K Support\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-primed-to-revisit-52k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-primed-to-revisit-52k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_1489955045.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_1489955045.jpg?fit=1000%2C667\"},\"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\":\"2021-04-20T03:08:49Z\",\"datePublished\":\"2021-04-20T03:08:49Z\",\"dateModified\":\"2024-06-11T13:55:06Z\"}<\/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_1489955045.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/461701"}],"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=461701"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/461701\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/461703"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=461701"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=461701"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=461701"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}