{"id":574964,"date":"2024-02-14T03:00:18","date_gmt":"2024-02-14T03:00:18","guid":{"rendered":"https:\/\/wncen.com\/?p=574964"},"modified":"2024-06-11T08:36:55","modified_gmt":"2024-06-11T08:36:55","slug":"bitcoin-price-holds-support-48250","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-holds-support-48250\/","title":{"rendered":"Bitcoin Price Holds Support, BTC Uptrend To Continue Soon?"},"content":{"rendered":"<p><em>Bitcoin price started a downside correction from the $50,400 zone. BTC tested $48,250 and is currently attempting a fresh increase above $50,000.<\/em><\/p>\n<ul>\n<li>Bitcoin price is holding gains above the $48,250 and $48,500 support levels.<\/li>\n<li>The price is trading above $48,850 and the 100 hourly Simple moving average.<\/li>\n<li>There is a key bullish trend line forming with support at $48,750 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could continue to move up if it clears the $50,000 resistance zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Remains Supported<\/h2>\n<p>Bitcoin price gained pace above the $48,800 resistance zone. BTC even spiked above the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-revisits-50k\/\" target=\"_blank\" rel=\"noopener \">$50,000 resistance zone<\/a> before the bears appeared. A new multi-week high was formed near $50,339 before the price corrected lower.<\/p>\n<p>There was a move below the $49,500 and $49,200 levels. The price even dived below $49,000, but the bulls were active above the $48,250 support. A low was formed near $48,240 and the price is now moving higher. There was a move above the $48,800 zone.<\/p>\n<p>Bitcoin cleared the 50% Fib retracement level of the recent decline from the $50,390 swing high to the $48,240 low. It is now trading above $48,850 and the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-reclaims-48k\/\" target=\"_blank\" rel=\"noopener \">100 hourly Simple moving average<\/a>.<\/p>\n<p>There is also a key bullish trend line forming with support at $48,750 on the hourly chart of the BTC\/USD pair. Immediate resistance is near the $49,880 level or the 76.4% Fib retracement level of the recent decline from the $50,390 swing high to the $48,240 low.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/Bitcoin_c9af0a.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-574965\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/Bitcoin_c9af0a.png?resize=1024%2C461\" alt=\"Bitcoin Price \" width=\"1024\" height=\"461\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/Bitcoin_c9af0a.png?w=1835 1835w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/Bitcoin_c9af0a.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/Bitcoin_c9af0a.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/Bitcoin_c9af0a.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/Bitcoin_c9af0a.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/Bitcoin_c9af0a.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/Bitcoin_c9af0a.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/p>\n<p>The next key resistance could be $50,000, above which the price could start another decent increase. The next stop for the bulls may perhaps be $50,400. A clear move above the $50,400 resistance could send the price toward the $51,200 resistance. The next resistance could be near the $52,000 level.<\/p>\n<h2>Another Decline In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $50,000 resistance zone, it could start another downside correction. Immediate support on the downside is near the $49,200 level.<\/p>\n<p>The first major support is $48,800 and the trend line. If there is a close below $48,800, the price could gain bearish momentum. In the stated case, the price could dive toward the $47,800 support.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $49,000, followed by $48,750.<\/p>\n<p>Major Resistance Levels \u2013 $50,000, $50,400, and $51,200.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price started a downside correction from the $50,400 zone. BTC tested $48,250 and is currently attempting a fresh increase above $50,000. Bitcoin price is holding gains above the $48,250 and $48,500 support levels. The price is trading above $48,850 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support at $48,750 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could continue to move up if it clears the $50,000 resistance zone. Bitcoin Price Remains Supported Bitcoin price gained pace above the $48,800 resistance zone. BTC even spiked above the $50,000 resistance zone before the bears appeared. A new multi-week high was formed near $50,339 before the price corrected lower. There was a move below the $49,500 and $49,200 levels. The price even dived below $49,000, but the bulls were active above the $48,250 support. A low was formed near $48,240 and the price is now moving higher. There was a move above the $48,800 zone. Bitcoin cleared the 50% Fib retracement level of the recent decline from the $50,390 swing high to the $48,240 low. It is now trading above $48,850 and the 100 hourly Simple moving average. There is also a key bullish trend line forming with support at $48,750 on the hourly chart of the BTC\/USD pair. Immediate resistance is near the $49,880 level or the 76.4% Fib retracement level of the recent decline from the $50,390 swing high to the $48,240 low. Source: BTCUSD on TradingView.com The next key resistance could be $50,000, above which the price could start another decent increase. The next stop for the bulls may perhaps be $50,400. A clear move above the $50,400 resistance could send the price toward the $51,200 resistance. The next resistance could be near the $52,000 level. Another Decline In BTC? If Bitcoin fails to rise above the $50,000 resistance zone, it could start another downside correction. Immediate support on the downside is near the $49,200 level. The first major support is $48,800 and the trend line. If there is a close below $48,800, the price could gain bearish momentum. In the stated case, the price could dive toward the $47,800 support. Technical indicators: Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level. Major Support Levels \u2013 $49,000, followed by $48,750. Major Resistance Levels \u2013 $50,000, $50,400, and $51,200.<\/p>\n","protected":false},"author":67,"featured_media":464416,"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":[428,679,1144,78790,76835],"class_list":["post-574964","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n<title>Bitcoin Price Holds Support, BTC Uptrend To Continue Soon?<\/title>\n<meta name=\"description\" content=\"Bitcoin price started a downside correction from the $50,400 zone. 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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":"Bitcoin Price Holds Support, BTC Uptrend To Continue Soon?","url":"http:\/\/wncen.com\/news\/bitcoin-price-holds-support-48250\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-price-holds-support-48250\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/shutterstock_729876625-1.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/shutterstock_729876625-1.jpg?fit=1000%2C668"},"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","bitcoin price","btcusd","btcusdt","xbtusd"],"dateCreated":"2024-02-14T03:00:18Z","datePublished":"2024-02-14T03:00:18Z","dateModified":"2024-06-11T08:36:55Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Holds Support, BTC Uptrend To Continue Soon?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-holds-support-48250\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-holds-support-48250\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_729876625-1.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_729876625-1.jpg?fit=1000%2C668\"},\"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\",\"bitcoin price\",\"btcusd\",\"btcusdt\",\"xbtusd\"],\"dateCreated\":\"2024-02-14T03:00:18Z\",\"datePublished\":\"2024-02-14T03:00:18Z\",\"dateModified\":\"2024-06-11T08:36:55Z\"}<\/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\/05\/shutterstock_729876625-1.jpg?fit=1000%2C668","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/574964"}],"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=574964"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/574964\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/464416"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=574964"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=574964"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=574964"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}