{"id":486964,"date":"2022-03-28T03:18:14","date_gmt":"2022-03-28T03:18:14","guid":{"rendered":"https:\/\/wncen.com\/?p=486964"},"modified":"2024-06-11T14:18:43","modified_gmt":"2024-06-11T14:18:43","slug":"bitcoin-breaks-47k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-breaks-47k\/","title":{"rendered":"TA: Bitcoin Breaks $47K, Can Bulls Aim $50K?"},"content":{"rendered":"
Bitcoin started a fresh increase above the $45,000 resistance against the US Dollar. BTC even broke $47,000 and is showing positive signs.<\/em><\/p>\n Bitcoin price formed a support base above the $43,500 level. BTC started a fresh increase<\/a> and was able to clear the key $45,000 resistance zone.<\/p>\n It opened the doors for more upsides above the $46,500 level. The price even jumped above the $47,000 level and settled above the 100 hourly simple moving average<\/a>. A high was formed near $47,561 and the price is now consolidating gains.<\/p>\n Bitcoin tested the 23.6% Fib retracement level of the recent rally from the $44,468 swing low to $47,561 high. Besides, there is a major bullish trend line forming with support near $45,200 on the hourly chart of the BTC\/USD pair.<\/p>\n On the upside, the price is facing resistance near the $47,200 level. The next major resistance could be near the $47,500 zone. A successful break and close above the $47,600 level might spark another increase. In the stated case, the price might even clear the $48,000 resistance level.<\/p>\n <\/a><\/p>\n The next major resistance could be near the $49,200 level. Any more gains could open the doors for a move towards the $50,000 level.<\/p>\n If bitcoin fails to clear the $47,500 resistance zone, it could start a downside correction. An immediate support on the downside is near the $46,800 zone.<\/p>\n The next major support is seen near the $46,350 level. The main support is near the $46,000 level or the 50% Fib retracement level of the recent rally from the $44,468 swing low to $47,561 high. A downside break below the $46,000 support zone could start a drop towards the $45,0s00 support.<\/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 now in the overbought zone.<\/p>\n Major Support Levels \u2013 $46,000, followed by $45,000.<\/p>\n Major Resistance Levels \u2013 $47,200, $47,500 and $50,000.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin started a fresh increase above the $45,000 resistance against the US Dollar. BTC even broke $47,000 and is showing positive signs. Bitcoin started a fresh increase after it broke the $45,000 resistance zone. The price is trading above $45,500 and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $45,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could continue to rise and might even clear the $48,000 resistance zone. Bitcoin Price Rallies 5% Bitcoin price formed a support base above the $43,500 level. BTC started a fresh increase and was able to clear the key $45,000 resistance zone. It opened the doors for more upsides above the $46,500 level. The price even jumped above the $47,000 level and settled above the 100 hourly simple moving average. A high was formed near $47,561 and the price is now consolidating gains. Bitcoin tested the 23.6% Fib retracement level of the recent rally from the $44,468 swing low to $47,561 high. Besides, there is a major bullish trend line forming with support near $45,200 on the hourly chart of the BTC\/USD pair. On the upside, the price is facing resistance near the $47,200 level. The next major resistance could be near the $47,500 zone. A successful break and close above the $47,600 level might spark another increase. In the stated case, the price might even clear the $48,000 resistance level. Source: BTCUSD on TradingView.com The next major resistance could be near the $49,200 level. Any more gains could open the doors for a move towards the $50,000 level. Dips Supported in BTC? If bitcoin fails to clear the $47,500 resistance zone, it could start a downside correction. An immediate support on the downside is near the $46,800 zone. The next major support is seen near the $46,350 level. The main support is near the $46,000 level or the 50% Fib retracement level of the recent rally from the $44,468 swing low to $47,561 high. A downside break below the $46,000 support zone could start a drop towards the $45,0s00 support. 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 now in the overbought zone. Major Support Levels \u2013 $46,000, followed by $45,000. Major Resistance Levels \u2013 $47,200, $47,500 and $50,000.<\/p>\n","protected":false},"author":67,"featured_media":461422,"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-486964","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 Rallies 5%<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Dips Supported in BTC?<\/h2>\n