{"id":479708,"date":"2021-12-24T03:08:46","date_gmt":"2021-12-24T03:08:46","guid":{"rendered":"https:\/\/wncen.com\/?p=479708"},"modified":"2024-06-11T14:10:08","modified_gmt":"2024-06-11T14:10:08","slug":"bitcoin-reclaims-50k-rally","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-reclaims-50k-rally\/","title":{"rendered":"TA: Bitcoin Reclaims $50K, Why Rally Isn\u2019t Over Yet"},"content":{"rendered":"
Bitcoin started a fresh increase above the $50,000 resistance against the US Dollar. BTC is showing positive signs and there could be more gains towards $52,000.<\/em><\/p>\n Bitcoin price formed a base and started a fresh increase<\/a> above the $48,000 level. BTC gained pace for a move above the $48,200 level and the 100 hourly simple moving average.<\/p>\n Besides, there was a break a key declining channel with resistance near $48,800 on the hourly chart of the BTC\/USD pair. The pair rallied above the $50,000 resistance zone to move into a positive zone. The bulls were able to push the price above the $50,000 level.<\/p>\n Bitcoin traded as high as $51,500 and currently consolidating gains. It is well above the 23.6% Fib retracement level of the recent increase from the $48,105 swing low to $51,500 high. It is also trading well above $50,000 and the 100 hourly simple moving average<\/a>.<\/p>\n <\/a><\/p>\n An immediate resistance on the upside is near the $51,500 level. The next key resistance could be $52,000. A clear move above the $52,000 resistance zone could lift the price further higher. The next major stop for the bulls may possibly be near the $53,200 level.<\/p>\n If bitcoin fails to clear the $51,500 resistance zone, it could start a downside correction. An immediate support on the downside is near the $50,700 level.<\/p>\n The first major support is near $50,000. It is near the 50% Fib retracement level of the recent increase from the $48,105 swing low to $51,500 high. A downside break below the $50,000 level could increase selling pressure in the near term. In the stated case, the price may perhaps decline towards the $48,800 support zone.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is slowly losing pace in the bullish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is well above the 50 level.<\/p>\n Major Support Levels \u2013 $50,700, followed by $50,000.<\/p>\n Major Resistance Levels \u2013 $51,500, $52,000 and $53,200.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin started a fresh increase above the $50,000 resistance against the US Dollar. BTC is showing positive signs and there could be more gains towards $52,000. Bitcoin gained pace after it broke the $49,500 resistance zone. The price is trading well above $50,000 and the 100 hourly simple moving average. There was a break a key declining channel with resistance near $48,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could correct lower, but dips might be limited below the $50,000 zone. Bitcoin Price Gains Momentum Bitcoin price formed a base and started a fresh increase above the $48,000 level. BTC gained pace for a move above the $48,200 level and the 100 hourly simple moving average. Besides, there was a break a key declining channel with resistance near $48,800 on the hourly chart of the BTC\/USD pair. The pair rallied above the $50,000 resistance zone to move into a positive zone. The bulls were able to push the price above the $50,000 level. Bitcoin traded as high as $51,500 and currently consolidating gains. It is well above the 23.6% Fib retracement level of the recent increase from the $48,105 swing low to $51,500 high. It is also trading well above $50,000 and the 100 hourly simple moving average. Source: BTCUSD on TradingView.com An immediate resistance on the upside is near the $51,500 level. The next key resistance could be $52,000. A clear move above the $52,000 resistance zone could lift the price further higher. The next major stop for the bulls may possibly be near the $53,200 level. Dips Limited In BTC? If bitcoin fails to clear the $51,500 resistance zone, it could start a downside correction. An immediate support on the downside is near the $50,700 level. The first major support is near $50,000. It is near the 50% Fib retracement level of the recent increase from the $48,105 swing low to $51,500 high. A downside break below the $50,000 level could increase selling pressure in the near term. In the stated case, the price may perhaps decline towards the $48,800 support zone. Technical indicators: Hourly MACD \u2013 The MACD is slowly losing pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is well above the 50 level. Major Support Levels \u2013 $50,700, followed by $50,000. Major Resistance Levels \u2013 $51,500, $52,000 and $53,200.<\/p>\n","protected":false},"author":67,"featured_media":464227,"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-479708","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 Gains Momentum<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Dips Limited In BTC?<\/h2>\n