{"id":471752,"date":"2021-09-16T03:08:52","date_gmt":"2021-09-16T03:08:52","guid":{"rendered":"https:\/\/ktsl888.com\/?p=471752"},"modified":"2024-06-11T13:58:39","modified_gmt":"2024-06-11T13:58:39","slug":"bitcoin-price-just-reversed-50k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-price-just-reversed-50k\/","title":{"rendered":"TA: Bitcoin Price Just Reversed and $50K Is Imminent, Here’s Why"},"content":{"rendered":"
Bitcoin price started a steady increase above the $47,000 resistance against the US Dollar. BTC even broke $48,000 and it might continue to rise in the near term.<\/em><\/p>\n Bitcoin price started a steady increase above the $46,000 resistance level<\/a>. BTC was able to clear the $47,000 resistance zone and the 100 hourly simple moving average.<\/p>\n Finally, there was a clear break above the $48,000 resistance zone<\/a>. The price traded as high as $48,481 and it is now consolidating gains. An immediate support on the downside is near the $48,000 level. There is also a key bullish trend line forming with support near $48,000 on the hourly chart of the BTC\/USD pair.<\/p>\n Bitcoin is also trading well above the 23.6% Fib retracement level of the upward wave from the $43,375 swing low to $48,481 high. An immediate resistance on the upside is near the $48,200 level.<\/p>\n <\/a><\/p>\n The first major resistance is now near the $48,500 zone. To continue higher, bitcoin must clear the $48,500 resistance. If the bulls succeed, the price could easily rise towards the key $50,000 resistance in the near term. \u00a0Any more gains may possibly set the pace for a move towards the $52,000 level.<\/p>\n If bitcoin fails to clear the $48,500 resistance zone, it could start a downside correction. An immediate support on the downside is near the $48,000 level and the trend line.<\/p>\n If the price breaks the trend line support, it could test the $47,400 support level. The next major support is near the $46,000 level or the 100 hourly simple moving average. It is also close to the 50% Fib retracement level of the upward wave from the $43,375 swing low to $48,481 high.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is slowly gaining pace in the bearish 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 $47,500, followed by $47,000.<\/p>\n Major Resistance Levels \u2013 $48,200, $48,500 and $50,000.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin price started a steady increase above the $47,000 resistance against the US Dollar. BTC even broke $48,000 and it might continue to rise in the near term. Bitcoin started a steady increase above the $46,000 and $47,000 resistance levels. The price is now trading above $47,000 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $48,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could accelerate higher towards the $50,000 level if it breaks the $48,500 resistance. Bitcoin Price Gains Traction Bitcoin price started a steady increase above the $46,000 resistance level. BTC was able to clear the $47,000 resistance zone and the 100 hourly simple moving average. Finally, there was a clear break above the $48,000 resistance zone. The price traded as high as $48,481 and it is now consolidating gains. An immediate support on the downside is near the $48,000 level. There is also a key bullish trend line forming with support near $48,000 on the hourly chart of the BTC\/USD pair. Bitcoin is also trading well above the 23.6% Fib retracement level of the upward wave from the $43,375 swing low to $48,481 high. An immediate resistance on the upside is near the $48,200 level. Source: BTCUSD on TradingView.com The first major resistance is now near the $48,500 zone. To continue higher, bitcoin must clear the $48,500 resistance. If the bulls succeed, the price could easily rise towards the key $50,000 resistance in the near term. \u00a0Any more gains may possibly set the pace for a move towards the $52,000 level. Dips Supported In BTC? If bitcoin fails to clear the $48,500 resistance zone, it could start a downside correction. An immediate support on the downside is near the $48,000 level and the trend line. If the price breaks the trend line support, it could test the $47,400 support level. The next major support is near the $46,000 level or the 100 hourly simple moving average. It is also close to the 50% Fib retracement level of the upward wave from the $43,375 swing low to $48,481 high. Technical indicators: Hourly MACD \u2013 The MACD is slowly gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now well above the 50 level. Major Support Levels \u2013 $47,500, followed by $47,000. Major Resistance Levels \u2013 $48,200, $48,500 and $50,000.<\/p>\n","protected":false},"author":67,"featured_media":462414,"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-471752","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 Gains Traction<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Dips Supported In BTC?<\/h2>\n