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{"id":473134,"date":"2021-10-06T03:08:05","date_gmt":"2021-10-06T03:08:05","guid":{"rendered":"https:\/\/ktsl888.com\/?p=473134"},"modified":"2024-06-11T13:59:14","modified_gmt":"2024-06-11T13:59:14","slug":"bitcoin-turns-attractive-50k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-turns-attractive-50k\/","title":{"rendered":"TA: Why Bitcoin Turns Attractive On Dips Above $50K"},"content":{"rendered":"

Bitcoin price gained pace and cleared the $50,000 resistance against the US Dollar. BTC could correct lower, but dips might remain limited below $50,000.<\/em><\/p>\n

\n
Bitcoin climbed higher above the $49,500 and $50,000 resistance levels.<\/li>\n
The price is now trading above $50,000 and the 100 hourly simple moving average.<\/li>\n
There is a key bullish trend line forming with support near $49,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could correct lower, but it might find support near $50,000 or $49,500.<\/li>\n<\/ul>\n
Bitcoin Price Gains Momentum<\/h2>\n
Bitcoin price remained in an uptrend<\/a> and extended its increase above the $49,500 resistance zone. BTC even broke the $50,000 resistance level and settled above the 100 hourly simple moving average.<\/p>\n
The bulls remained in action and they were able to push the price above the $51,000 level. It traded close to $52,000 and a high is formed near $51,888. The price is now consolidating gains above the $51,000 level.<\/p>\n
An immediate support on the downside is near the $50,800 level. It is close to the 23.6% Fib retracement level of the recent increase from the $46,895 swing low to $51,888 high. There is also a key bullish trend line forming with support near $49,500 on the hourly chart of the BTC\/USD pair.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
On the upside, an initial resistance is near the $51,500 level. The first major resistance is near the $52,000 level, above which the price could start a fresh increase. The next major resistance for the bulls may possibly be near the $53,200 level. Any more gains could set the pace for a move towards the $55,000 level.<\/p>\n
Dips Supported In BTC?<\/h2>\n
If bitcoin fails to clear the $52,000 resistance zone, it could start a fresh downside correction. An immediate support on the downside is near the $50,800 level.<\/p>\n
The first major support is now forming near the $50,000 level and the trend line. It is near the 50% Fib retracement level of the recent increase from the $46,895 swing low to $51,888 high. If there is a break below the trend line support, the price might decline towards the $49,000 level and the 100 hourly SMA<\/a>.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is slowly losing pace in the bullish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is well above the 50 level.<\/p>\n
Major Support Levels \u2013 $50,800, 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 pace and cleared the $50,000 resistance against the US Dollar. BTC could correct lower, but dips might remain limited below $50,000. Bitcoin climbed higher above the $49,500 and $50,000 resistance levels. The price is now trading above $50,000 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $49,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could correct lower, but it might find support near $50,000 or $49,500. Bitcoin Price Gains Momentum Bitcoin price remained in an uptrend and extended its increase above the $49,500 resistance zone. BTC even broke the $50,000 resistance level and settled above the 100 hourly simple moving average. The bulls remained in action and they were able to push the price above the $51,000 level. It traded close to $52,000 and a high is formed near $51,888. The price is now consolidating gains above the $51,000 level. An immediate support on the downside is near the $50,800 level. It is close to the 23.6% Fib retracement level of the recent increase from the $46,895 swing low to $51,888 high. There is also a key bullish trend line forming with support near $49,500 on the hourly chart of the BTC\/USD pair. Source: BTCUSD on TradingView.com On the upside, an initial resistance is near the $51,500 level. The first major resistance is near the $52,000 level, above which the price could start a fresh increase. The next major resistance for the bulls may possibly be near the $53,200 level. Any more gains could set the pace for a move towards the $55,000 level. Dips Supported In BTC? If bitcoin fails to clear the $52,000 resistance zone, it could start a fresh downside correction. An immediate support on the downside is near the $50,800 level. The first major support is now forming near the $50,000 level and the trend line. It is near the 50% Fib retracement level of the recent increase from the $46,895 swing low to $51,888 high. If there is a break below the trend line support, the price might decline towards the $49,000 level and the 100 hourly SMA. Technical indicators: Hourly MACD \u2013 The MACD is slowly losing pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is well above the 50 level. Major Support Levels \u2013 $50,800, followed by $50,000. Major Resistance Levels \u2013 $51,500, $52,000 and $53,200.<\/p>\n","protected":false},"author":67,"featured_media":457985,"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-473134","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: Why Bitcoin Turns Attractive On Dips Above $50K<\/title>\n<meta name=\"description\" content=\"Bitcoin price gained pace and cleared the $50,000 resistance 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. 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Dips Supported In BTC?<\/h2>\nIf bitcoin fails to clear the $52,000 resistance zone, it could start a fresh downside correction. An immediate support on the downside is near the $50,800 level.<\/p>\n