{"id":458184,"date":"2021-03-08T03:28:52","date_gmt":"2021-03-08T03:28:52","guid":{"rendered":"https:\/\/ktsl888.com\/?p=458184"},"modified":"2024-06-11T14:13:47","modified_gmt":"2024-06-11T14:13:47","slug":"bitcoin-turns-attractive-above-50k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-turns-attractive-above-50k\/","title":{"rendered":"TA: Bitcoin Turns Attractive Above $50K, Why BTC Extend Its Rally"},"content":{"rendered":"
Bitcoin price gained bullish momentum above the $50,000 resistance against the US Dollar. BTC traded towards $52,000 and it remains supported for more upsides.<\/em><\/p>\n After a strong close above the $48,000 level, bitcoin started a fresh increase<\/a>. BTC was able to clear the key $50,000 and $50,500 resistance levels to move into a positive zone.<\/p>\n There was also a break above a major bearish trend line with resistance near $48,400 on the hourly chart of the BTC\/USD pair. The pair extended its rise above the $51,000 level and traded to a new weekly high at $51,853.<\/p>\n It is now correcting lower, but it is trading well above $50,000 and the 100 hourly simple moving average<\/a>. An initial support is near the $50,750 level. It is close to the 23.6% Fib retracement level of the upward wave from the $47,141 swing low to $51,853 high.<\/p>\n <\/a><\/p>\n There is also a key rising channel forming with support at $50,500 on the same chart. The next major support is near the $50,000 level. Any more losses may possibly lead the price towards the 50% Fib retracement level of the upward wave from the $47,141 swing low to $51,853 high near $49,500. The main support is now forming near the $48,800 level and the 100 hourly simple moving average.<\/p>\n If bitcoin stays above $50,500 and $49,500, it could start a fresh increase. An initial resistance on the upside is near the $51,500 level. The first major resistance is near the $52,000 level.<\/p>\n A successful close above the $52,000 resistance level could open the doors for a larger increase in the coming sessions. The next major resistance could be $53,200, followed by $54,500.<\/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 $50,500, followed by $50,000.<\/p>\n Major Resistance Levels \u2013 $51,500, $52,000 and $53,200.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin price gained bullish momentum above the $50,000 resistance against the US Dollar. BTC traded towards $52,000 and it remains supported for more upsides. Bitcoin started a fresh increase above the $50,000 and $50,500 resistance levels. The price is now trading well above $50,000 and the 100 hourly simple moving average. There is a key rising channel forming with support at $50,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could correct a few points, but the bulls are likely to protect $50,000 and $49,500. Bitcoin Price Starts Fresh Increase After a strong close above the $48,000 level, bitcoin started a fresh increase. BTC was able to clear the key $50,000 and $50,500 resistance levels to move into a positive zone. There was also a break above a major bearish trend line with resistance near $48,400 on the hourly chart of the BTC\/USD pair. The pair extended its rise above the $51,000 level and traded to a new weekly high at $51,853. It is now correcting lower, but it is trading well above $50,000 and the 100 hourly simple moving average. An initial support is near the $50,750 level. It is close to the 23.6% Fib retracement level of the upward wave from the $47,141 swing low to $51,853 high. Source: BTCUSD on TradingView.com There is also a key rising channel forming with support at $50,500 on the same chart. The next major support is near the $50,000 level. Any more losses may possibly lead the price towards the 50% Fib retracement level of the upward wave from the $47,141 swing low to $51,853 high near $49,500. The main support is now forming near the $48,800 level and the 100 hourly simple moving average. More Upsides in BTC? If bitcoin stays above $50,500 and $49,500, it could start a fresh increase. An initial resistance on the upside is near the $51,500 level. The first major resistance is near the $52,000 level. A successful close above the $52,000 resistance level could open the doors for a larger increase in the coming sessions. The next major resistance could be $53,200, followed by $54,500. 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 $50,500, followed by $50,000. Major Resistance Levels \u2013 $51,500, $52,000 and $53,200.<\/p>\n","protected":false},"author":67,"featured_media":458186,"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-458184","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 Starts Fresh Increase<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
More Upsides in BTC?<\/h2>\n