{"id":462272,"date":"2021-04-25T04:28:29","date_gmt":"2021-04-25T04:28:29","guid":{"rendered":"https:\/\/ktsl888.com\/?p=462272"},"modified":"2024-06-11T13:55:14","modified_gmt":"2024-06-11T13:55:14","slug":"bitcoin-price-consolidates-near-50k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-price-consolidates-near-50k\/","title":{"rendered":"Bitcoin Price Consolidates Near $50K, Why BTC Bulls Could Fail Near $52.5K"},"content":{"rendered":"
Bitcoin price extended its decline below the $50,000 support against the US Dollar. BTC is now consolidating losses and it remains at a risk of more downside below $48,000.<\/em><\/p>\n This past week, bitcoin price saw a steady decline<\/a> from well above $60,000 against the US Dollar. The BTC\/USD pair broke many important supports near $55,000 and $52,500 to move into a bearish zone.<\/p>\n The price even broke the $50,000 level and it settled below the 100 simple moving average (4-hours). It traded to a new weekly low at $47,511 before it started consolidating losses. There was a minor recovery above the $48,000 and $48,500 levels.<\/p>\n There was a recovery above the 23.6% Fib retracement level of the recent decline<\/a> from the $57,597 high to $47,511 low. It is now consolidating near the $50,000 level.<\/p>\n <\/a><\/p>\n On the upside, the price is facing a major resistance near the $52,000 and $52,500 levels. There is also a key bearish trend line forming with resistance near $52,800 on the 4-hours chart of the BTC\/USD pair. The trend line is close to the 50% Fib retracement level of the recent decline from the $57,597 high to $47,511 low.<\/p>\n A successful close above the $52,000 and $52,500 resistance levels could open the doors for a fresh increase in the coming sessions.<\/p>\n If bitcoin fails above the $52,000 level, there is a risk of more losses. The first major support is near the $48,200 and $58,000 levels.<\/p>\n The next major support is near the $57,500 level. Any more losses might call for a fresh drop towards the $46,000 support level. In the stated case, there are even chances of a drop towards the key $45,000 support zone in the near term.<\/p>\n Technical indicators<\/p>\n 4 hours MACD \u2013 The MACD for BTC\/USD is losing momentum in the bearish zone.<\/p>\n 4 hours RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now well below the 50 level.<\/p>\n Major Support Level \u2013 $47,500<\/p>\n Major Resistance Level \u2013 $52,500<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin price extended its decline below the $50,000 support against the US Dollar. BTC is now consolidating losses and it remains at a risk of more downside below $48,000. Bitcoin declined heavily below the $52,000 and $50,000 support levels. The price is now trading well below $52,000 and the 100 simple moving average (4-hours). There is a key bearish trend line forming with resistance near $52,800 on the 4-hours chart of the BTC\/USD pair (data feed from Kraken). The pair could correct losses, but it might face resistance near $52,000 and $52,500. Bitcoin Price Turns Red This past week, bitcoin price saw a steady decline from well above $60,000 against the US Dollar. The BTC\/USD pair broke many important supports near $55,000 and $52,500 to move into a bearish zone. The price even broke the $50,000 level and it settled below the 100 simple moving average (4-hours). It traded to a new weekly low at $47,511 before it started consolidating losses. There was a minor recovery above the $48,000 and $48,500 levels. There was a recovery above the 23.6% Fib retracement level of the recent decline from the $57,597 high to $47,511 low. It is now consolidating near the $50,000 level. Source: BTCUSD on TradingView.com On the upside, the price is facing a major resistance near the $52,000 and $52,500 levels. There is also a key bearish trend line forming with resistance near $52,800 on the 4-hours chart of the BTC\/USD pair. The trend line is close to the 50% Fib retracement level of the recent decline from the $57,597 high to $47,511 low. A successful close above the $52,000 and $52,500 resistance levels could open the doors for a fresh increase in the coming sessions. More Losses in BTC? If bitcoin fails above the $52,000 level, there is a risk of more losses. The first major support is near the $48,200 and $58,000 levels. The next major support is near the $57,500 level. Any more losses might call for a fresh drop towards the $46,000 support level. In the stated case, there are even chances of a drop towards the key $45,000 support zone in the near term. Technical indicators 4 hours MACD \u2013 The MACD for BTC\/USD is losing momentum in the bearish zone. 4 hours RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now well below the 50 level. Major Support Level \u2013 $47,500 Major Resistance Level \u2013 $52,500<\/p>\n","protected":false},"author":67,"featured_media":462274,"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-462272","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 Turns Red<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
More Losses in BTC?<\/h2>\n