{"id":457911,"date":"2021-03-03T03:18:22","date_gmt":"2021-03-03T03:18:22","guid":{"rendered":"https:\/\/ktsl888.com\/?p=457911"},"modified":"2024-06-11T14:13:42","modified_gmt":"2024-06-11T14:13:42","slug":"bitcoin-btc-could-surge-50k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-btc-could-surge-50k\/","title":{"rendered":"TA: Bitcoin Holding Gains, Why BTC Could Surge Above $50K"},"content":{"rendered":"
Bitcoin price recovered above $48,000, but it failed near $50,000 against the US Dollar. BTC is now holding gains above $47,000 and it is likely to make another attempt to surpass $50,000.<\/em><\/p>\n After struggling to clear the $50,000 resistance<\/a>, bitcoin started a downside correction. BTC declined below the $49,500 and $49,000 support levels.<\/p>\n The price even traded below the 23.6% Fib retracement level of the upward move from the $43,000 swing low to $50,190 high. It even declined below the $48,000 support level. However, the bulls were able to protect the $47,000 support zone.<\/p>\n The price remained stable above the 100 hourly simple moving average<\/a>, which is currently at $47,100. Bitcoin also remained well bid above the 50% Fib retracement level of the upward move from the $43,000 swing low to $50,190 high.<\/p>\n <\/a><\/p>\n It seems like there is a key declining channel or a bullish flag forming with resistance near $49,000 on the hourly chart of the BTC\/USD pair.<\/p>\n If there is an upside break above the channel resistance, there are high chances of a push above the $50,000 resistance. The next major resistance is near $52,000, above which the bulls are likely to take control.<\/p>\n If bitcoin fails to continue higher above the $49,000 and $50,000 resistance levels, there could be a fresh decline. The first key support on the downside is near the $47,500 level.<\/p>\n The next major support is near the $47,000 level and the 100 hourly simple moving average. The main breakdown zone is now forming near the $46,500 level, below which the price might dive to $43,000 in the near term.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is now gaining momentum in the bullish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now well above the 50 level.<\/p>\n Major Support Levels \u2013 $47,000, followed by $46,500.<\/p>\n Major Resistance Levels \u2013 $49,000, $50,000 and $52,000.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin price recovered above $48,000, but it failed near $50,000 against the US Dollar. BTC is now holding gains above $47,000 and it is likely to make another attempt to surpass $50,000. Bitcoin is consolidating gains above the $47,000 and $46,500 support levels. The price is now trading well above $47,000 and the 100 hourly simple moving average. There is a key declining channel or a bullish flag forming with resistance near $49,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start a strong increase once it clears $49,000 and $50,000 in the near term. Bitcoin Price is Showing Positive Signs After struggling to clear the $50,000 resistance, bitcoin started a downside correction. BTC declined below the $49,500 and $49,000 support levels. The price even traded below the 23.6% Fib retracement level of the upward move from the $43,000 swing low to $50,190 high. It even declined below the $48,000 support level. However, the bulls were able to protect the $47,000 support zone. The price remained stable above the 100 hourly simple moving average, which is currently at $47,100. Bitcoin also remained well bid above the 50% Fib retracement level of the upward move from the $43,000 swing low to $50,190 high. Source: BTCUSD on TradingView.com It seems like there is a key declining channel or a bullish flag forming with resistance near $49,000 on the hourly chart of the BTC\/USD pair. If there is an upside break above the channel resistance, there are high chances of a push above the $50,000 resistance. The next major resistance is near $52,000, above which the bulls are likely to take control. Fresh Dip in BTC? If bitcoin fails to continue higher above the $49,000 and $50,000 resistance levels, there could be a fresh decline. The first key support on the downside is near the $47,500 level. The next major support is near the $47,000 level and the 100 hourly simple moving average. The main breakdown zone is now forming near the $46,500 level, below which the price might dive to $43,000 in the near term. Technical indicators: Hourly MACD \u2013 The MACD is now gaining momentum in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now well above the 50 level. Major Support Levels \u2013 $47,000, followed by $46,500. Major Resistance Levels \u2013 $49,000, $50,000 and $52,000.<\/p>\n","protected":false},"author":67,"featured_media":457913,"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-457911","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 is Showing Positive Signs<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Fresh Dip in BTC?<\/h2>\n