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{"id":459591,"date":"2021-03-26T03:08:07","date_gmt":"2021-03-26T03:08:07","guid":{"rendered":"https:\/\/ktsl888.com\/?p=459591"},"modified":"2024-06-11T14:14:17","modified_gmt":"2024-06-11T14:14:17","slug":"bitcoin-steadies-above-50k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-steadies-above-50k\/","title":{"rendered":"TA: Bitcoin Steadies Above $50K, Why BTC Could Recover To $55K"},"content":{"rendered":"

Bitcoin price extended its decline and traded close to $50,000 against the US Dollar. BTC is now consolidating losses and it is likely to start a recovery towards $55,000.<\/em><\/p>\n

\n
Bitcoin extended its decline below $52,500 and $51,200 support levels.<\/li>\n
The price is now trading well below $55,000 and the 100 hourly simple moving average.<\/li>\n
There is a key contracting triangle forming with resistance near $52,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair is likely to correct higher towards $54,500 or even $55,000 if it clears $53,150.<\/li>\n<\/ul>\n
Bitcoin Price Extends Losses<\/h2>\n
After a break below $53,000, bitcoin extended its decline<\/a>. BTC broke the $52,500 and $51,200 support levels to move further into a bearish zone.<\/p>\n
The bears even aimed a test of $50,000. However, the price remained stable above $50,500. A low is formed near $50,400 and the price is now consolidating losses. It is trading well below $55,000 and the 100 hourly simple moving average<\/a>.<\/p>\n
Recently, there was a correction above the $51,500 level. The price climbed above the 23.6% Fib retracement level of the recent decline from the $57,234 high to $50,400 low.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
There is also a key contracting triangle forming with resistance near $52,500 on the hourly chart of the BTC\/USD pair. If there is an upside break above the triangle resistance, the price could even break $53,150. The next key resistance is near the $53,800 level.<\/p>\n
The 50% Fib retracement level of the recent decline from the $57,234 high to $50,400 low is also near $53,800. A successful break above $53,800 is likely to open the doors for a move towards $54,500 or $55,000.<\/p>\n
Fresh Drop in BTC?<\/h2>\n
If bitcoin fails to correct higher above $52,500 and $53,150, there are chances of more downsides in the near term. An initial support is near the $51,000 level and the triangle lower trend line.<\/p>\n
The first key support is now near the $50,500 level, below which the price is likely to test the $50,000 support zone. Any more losses might push the price towards the $48,000 support zone in the near term.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is slowly gaining momentum in the bullish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now just above the 50 level.<\/p>\n
Major Support Levels \u2013 $51,000, followed by $50,500.<\/p>\n
Major Resistance Levels \u2013 $52,500, $53,150 and $54,500.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price extended its decline and traded close to $50,000 against the US Dollar. BTC is now consolidating losses and it is likely to start a recovery towards $55,000. Bitcoin extended its decline below $52,500 and $51,200 support levels. The price is now trading well below $55,000 and the 100 hourly simple moving average. There is a key contracting triangle forming with resistance near $52,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is likely to correct higher towards $54,500 or even $55,000 if it clears $53,150. Bitcoin Price Extends Losses After a break below $53,000, bitcoin extended its decline. BTC broke the $52,500 and $51,200 support levels to move further into a bearish zone. The bears even aimed a test of $50,000. However, the price remained stable above $50,500. A low is formed near $50,400 and the price is now consolidating losses. It is trading well below $55,000 and the 100 hourly simple moving average. Recently, there was a correction above the $51,500 level. The price climbed above the 23.6% Fib retracement level of the recent decline from the $57,234 high to $50,400 low. Source: BTCUSD on TradingView.com There is also a key contracting triangle forming with resistance near $52,500 on the hourly chart of the BTC\/USD pair. If there is an upside break above the triangle resistance, the price could even break $53,150. The next key resistance is near the $53,800 level. The 50% Fib retracement level of the recent decline from the $57,234 high to $50,400 low is also near $53,800. A successful break above $53,800 is likely to open the doors for a move towards $54,500 or $55,000. Fresh Drop in BTC? If bitcoin fails to correct higher above $52,500 and $53,150, there are chances of more downsides in the near term. An initial support is near the $51,000 level and the triangle lower trend line. The first key support is now near the $50,500 level, below which the price is likely to test the $50,000 support zone. Any more losses might push the price towards the $48,000 support zone 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 now just above the 50 level. Major Support Levels \u2013 $51,000, followed by $50,500. Major Resistance Levels \u2013 $52,500, $53,150 and $54,500.<\/p>\n","protected":false},"author":67,"featured_media":459593,"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-459591","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\nTA: Bitcoin Steadies Above $50K, Why BTC Could Recover To $55K<\/title>\n<meta name=\"description\" content=\"Bitcoin price extended its decline and traded close to $50,000 against the US Dollar. 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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:\/\/ktsl888.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"TA: Bitcoin Steadies Above $50K, Why BTC Could Recover To $55K","url":"http:\/\/ktsl888.com\/news\/bitcoin-steadies-above-50k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/bitcoin-steadies-above-50k\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/03\/shutterstock_555674926.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/03\/shutterstock_555674926.jpg?fit=1000%2C680"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btcusd","btcusdt","xbtusd"],"dateCreated":"2021-03-26T03:08:07Z","datePublished":"2021-03-26T03:08:07Z","dateModified":"2024-06-11T14:14:17Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Bitcoin Steadies Above $50K, Why BTC Could Recover To $55K\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-steadies-above-50k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-steadies-above-50k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_555674926.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_555674926.jpg?fit=1000%2C680\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btcusd\",\"btcusdt\",\"xbtusd\"],\"dateCreated\":\"2021-03-26T03:08:07Z\",\"datePublished\":\"2021-03-26T03:08:07Z\",\"dateModified\":\"2024-06-11T14:14:17Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/03\/shutterstock_555674926.jpg?fit=1000%2C680","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/459591"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=459591"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/459591\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/459593"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=459591"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=459591"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=459591"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}