{"id":457520,"date":"2021-02-25T03:18:31","date_gmt":"2021-02-25T03:18:31","guid":{"rendered":"https:\/\/ktsl888.com\/?p=457520"},"modified":"2024-06-11T14:13:35","modified_gmt":"2024-06-11T14:13:35","slug":"bitcoin-consolidates-above-50k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-consolidates-above-50k\/","title":{"rendered":"TA: Bitcoin Consolidates Above $50K Why BTC Could Face Bears At $52K"},"content":{"rendered":"<p><em>Bitcoin price started an upside correction above the $48,000 and $50,000 levels against the US Dollar. BTC is now consolidating above $50,000, but it could face a major hurdle near $52,000.<\/em><\/p>\n<ul>\n<li>Bitcoin recovered nicely and it even managed to settle above the $50,000 resistance level.<\/li>\n<li>The price is facing a strong resistance near $52,000 and the 100 hourly simple moving average.<\/li>\n<li>There was a break above a major bearish trend line with resistance near $49,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair must clear the $52,000 resistance zone for upside continuation in the near term.<\/li>\n<\/ul>\n<h2>Bitcoin Price is Facing Hurdles<\/h2>\n<p>After a clear break above the $48,000 level, bitcoin recovered further above $49,000. BTC seems to be forming a support base above the $48,000 level, but it is still well below the 100 hourly simple moving average.<\/p>\n<p>The price is now trading well above the 23.6% Fib retracement level of the downward wave from the $58,400 swing high to $45,000 swing low. There was also a break above a major bearish trend line with resistance near $49,500 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>Bitcoin price is now consolidating above the $50,000 level. However, there are a couple of <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-could-struggle-near-52k\/\" target=\"_blank\" rel=\"noopener \">important hurdles<\/a> waiting on the upside near the $51,500 and $52,000 levels.<\/p>\n<p><a href=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/02\/Bitcoin-21.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-457521\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/02\/Bitcoin-21.png?resize=1828%2C868\" alt=\"Bitcoin Price\" width=\"1828\" height=\"868\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/02\/Bitcoin-21.png?w=1828 1828w, https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/02\/Bitcoin-21.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/02\/Bitcoin-21.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/02\/Bitcoin-21.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/02\/Bitcoin-21.png?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/02\/Bitcoin-21.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/02\/Bitcoin-21.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 50% Fib retracement level of the downward wave from the $58,400 swing high to $45,000 swing low is also near the $51,600 level to act as a major resistance. The main resistance is still near the $52,000 level and the 100 hourly simple moving average.<\/p>\n<p>A clear break above the $51,600 and $52,000 resistance levels is needed for more upsides in the near term. The next major resistance above the $52,000 level could be near the $55,000 level.<\/p>\n<h2>Another Dip in BTC?<\/h2>\n<p>If bitcoin fails to continue higher above the $51,500 and $52,000 resistance levels, there could be <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-struggles-near-54k\/\" target=\"_blank\" rel=\"noopener \">another decline<\/a>. An initial support on the downside is near the $49,500 level.<\/p>\n<p>The first major support is now forming near the $48,000 zone. If there is a clear break below the $48,000 support, the price could revisit the $45,000 support in the near term.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is slowly gaining momentum in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is back above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $49,500, followed by $48,000.<\/p>\n<p>Major Resistance Levels \u2013 $51,600, $52,000 and $55,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price started an upside correction above the $48,000 and $50,000 levels against the US Dollar. BTC is now consolidating above $50,000, but it could face a major hurdle near $52,000. Bitcoin recovered nicely and it even managed to settle above the $50,000 resistance level. The price is facing a strong resistance near $52,000 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $49,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair must clear the $52,000 resistance zone for upside continuation in the near term. Bitcoin Price is Facing Hurdles After a clear break above the $48,000 level, bitcoin recovered further above $49,000. BTC seems to be forming a support base above the $48,000 level, but it is still well below the 100 hourly simple moving average. The price is now trading well above the 23.6% Fib retracement level of the downward wave from the $58,400 swing high to $45,000 swing low. There was also a break above a major bearish trend line with resistance near $49,500 on the hourly chart of the BTC\/USD pair. Bitcoin price is now consolidating above the $50,000 level. However, there are a couple of important hurdles waiting on the upside near the $51,500 and $52,000 levels. Source: BTCUSD on TradingView.com The 50% Fib retracement level of the downward wave from the $58,400 swing high to $45,000 swing low is also near the $51,600 level to act as a major resistance. The main resistance is still near the $52,000 level and the 100 hourly simple moving average. A clear break above the $51,600 and $52,000 resistance levels is needed for more upsides in the near term. The next major resistance above the $52,000 level could be near the $55,000 level. Another Dip in BTC? If bitcoin fails to continue higher above the $51,500 and $52,000 resistance levels, there could be another decline. An initial support on the downside is near the $49,500 level. The first major support is now forming near the $48,000 zone. If there is a clear break below the $48,000 support, the price could revisit the $45,000 support in the near term. Technical indicators: Hourly MACD \u2013 The MACD is slowly gaining momentum in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is back above the 50 level. Major Support Levels \u2013 $49,500, followed by $48,000. Major Resistance Levels \u2013 $51,600, $52,000 and $55,000.<\/p>\n","protected":false},"author":67,"featured_media":457522,"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-457520","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 Above $50K Why BTC Could Face Bears At $52K<\/title>\n<meta name=\"description\" content=\"Bitcoin price started an upside correction above the $48,000 and $50,000 levels against the US Dollar. 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