{"id":470405,"date":"2021-08-30T03:08:49","date_gmt":"2021-08-30T03:08:49","guid":{"rendered":"https:\/\/wncen.com\/?p=470405"},"modified":"2024-06-11T11:16:31","modified_gmt":"2024-06-11T11:16:31","slug":"bitcoin-consolidates-increase-48k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-consolidates-increase-48k\/","title":{"rendered":"TA: Bitcoin Consolidates, Why BTC Could Start A Fresh Increase"},"content":{"rendered":"<p><em>Bitcoin price is holding the $48,000 support zone against the US Dollar. BTC must clear $49,500 and $49,750 to start a fresh increase in the near term.<\/em><\/p>\n<ul>\n<li>Bitcoin broke the $48,500 resistance, but it faced hurdles near $49,500.<\/li>\n<li>The price is now trading above $48,500 and the 100 hourly simple moving average.<\/li>\n<li>There is a major bullish trend line forming with support near $48,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could start a fresh increase unless it clears the $48,000 support and the 100 hourly SMA.<\/li>\n<\/ul>\n<h2>Bitcoin Price Holds Key Support<\/h2>\n<p>Bitcoin price formed a base above the $48,000 and started a fresh increase. BTC broke the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-resumes-decline-45k\/\" target=\"_blank\" rel=\"noopener \">$49,000 resistance<\/a> and settled above the 100 hourly simple moving average.<\/p>\n<p>However, the price failed to gain strength above the $49,500 level. A high was formed near $49,657 before the price started a downside correction. There was a drop below the $49,000 support level. The price moved below the 23.6% Fib retracement level of the upward move from the $46,486 swing low to $49,657 high.<\/p>\n<p>Bitcoin is now trading above $48,500 and the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-attempts-fresh-increase-50k\/\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>. There is also a major bullish trend line forming with support near $48,500 on the hourly chart of the BTC\/USD pair.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/08\/Bitcoin-20.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-470406\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/08\/Bitcoin-20.png?resize=1828%2C867\" alt=\"Bitcoin Price\" width=\"1828\" height=\"867\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/08\/Bitcoin-20.png?w=1828 1828w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/08\/Bitcoin-20.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/08\/Bitcoin-20.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/08\/Bitcoin-20.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/08\/Bitcoin-20.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/08\/Bitcoin-20.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/08\/Bitcoin-20.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>The next key support is near the $48,000 zone and the 100 hourly simple moving average. It is close to the 50% Fib retracement level of the upward move from the $46,486 swing low to $49,657 high. If there is a downside break below the $48,000 support zone, the price might continue to move down. The next major support is near the $46,550 level.<\/p>\n<h2>Fresh Increase In BTC?<\/h2>\n<p>If bitcoin stays above the $48,000 support zone, it could start a fresh increase. An immediate resistance on the upside is near the $49,000 level.<\/p>\n<p>The first major resistance is near the $49,350 level. The main resistance is near the $49,500 level. A clear break above the $49,500 level could set the pace for more gains. In the stated case, the price might even surpass the $50,000 zone.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is losing pace in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is just below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $48,500, followed by $48,000.<\/p>\n<p>Major Resistance Levels \u2013 $49,000, $49,350 and $49,500.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is holding the $48,000 support zone against the US Dollar. BTC must clear $49,500 and $49,750 to start a fresh increase in the near term. Bitcoin broke the $48,500 resistance, but it faced hurdles near $49,500. The price is now trading above $48,500 and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $48,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start a fresh increase unless it clears the $48,000 support and the 100 hourly SMA. Bitcoin Price Holds Key Support Bitcoin price formed a base above the $48,000 and started a fresh increase. BTC broke the $49,000 resistance and settled above the 100 hourly simple moving average. However, the price failed to gain strength above the $49,500 level. A high was formed near $49,657 before the price started a downside correction. There was a drop below the $49,000 support level. The price moved below the 23.6% Fib retracement level of the upward move from the $46,486 swing low to $49,657 high. Bitcoin is now trading above $48,500 and the 100 hourly simple moving average. There is also a major bullish trend line forming with support near $48,500 on the hourly chart of the BTC\/USD pair. Source: BTCUSD on TradingView.com The next key support is near the $48,000 zone and the 100 hourly simple moving average. It is close to the 50% Fib retracement level of the upward move from the $46,486 swing low to $49,657 high. If there is a downside break below the $48,000 support zone, the price might continue to move down. The next major support is near the $46,550 level. Fresh Increase In BTC? If bitcoin stays above the $48,000 support zone, it could start a fresh increase. An immediate resistance on the upside is near the $49,000 level. The first major resistance is near the $49,350 level. The main resistance is near the $49,500 level. A clear break above the $49,500 level could set the pace for more gains. In the stated case, the price might even surpass the $50,000 zone. Technical indicators: Hourly MACD \u2013 The MACD is losing pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is just below the 50 level. Major Support Levels \u2013 $48,500, followed by $48,000. Major Resistance Levels \u2013 $49,000, $49,350 and $49,500.<\/p>\n","protected":false},"author":67,"featured_media":460005,"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-470405","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 Consolidates, Why BTC Could Start A Fresh Increase<\/title>\n<meta name=\"description\" content=\"Bitcoin price is holding the $48,000 support zone 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: Bitcoin Consolidates, Why BTC Could Start A Fresh Increase","url":"http:\/\/wncen.com\/news\/bitcoin-consolidates-increase-48k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-consolidates-increase-48k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/shutterstock_749757757-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/shutterstock_749757757-scaled.jpg?fit=2560%2C1792"},"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":"2021-08-30T03:08:49Z","datePublished":"2021-08-30T03:08:49Z","dateModified":"2024-06-11T11:16:31Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Bitcoin Consolidates, Why BTC Could Start A Fresh Increase\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-consolidates-increase-48k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-consolidates-increase-48k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_749757757-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_749757757-scaled.jpg?fit=2560%2C1792\"},\"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\":\"2021-08-30T03:08:49Z\",\"datePublished\":\"2021-08-30T03:08:49Z\",\"dateModified\":\"2024-06-11T11:16:31Z\"}<\/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\/03\/shutterstock_749757757-scaled.jpg?fit=2560%2C1792","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/470405"}],"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=470405"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/470405\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/460005"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=470405"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=470405"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=470405"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}