BTCUSD on TradingView.com<\/a><\/p>\nThe main resistance is now near the $53,000 level. A clear move above the $53,000 resistance could send the price toward the $53,500 resistance. The next resistance could be near the $54,200 level.<\/p>\n
More Losses In BTC?<\/h2>\n If Bitcoin fails to rise above the $52,000 resistance zone, it could start another decline in the near term. Immediate support on the downside is near the $51,100 level.<\/p>\n
The first major support is $50,500. If there is a close below $50,500, the price could gain bearish momentum. In the stated case, the price could decline toward the $49,200 support zone, below which the price might turn bearish in the short term.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n
Major Support Levels \u2013 $51,100, followed by $50,500.<\/p>\n
Major Resistance Levels \u2013 $51,550, $51,800, and $52,500.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price failed again to clear the $53,000 resistance. BTC is now back below $52,000 and there are chances of a downside break below the $50,500 support. Bitcoin price is struggling to clear the $52,000 resistance zone. The price is trading below $52,000 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with resistance at $51,550 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could gain bearish momentum if there is a move below the $50,500 support. Bitcoin Price Dips Again Bitcoin price failed to start a fresh increase above the $52,200 resistance zone. BTC settled below $52,000 and slowly moved lower. There was a drop below the $51,500 level. The price even revisited the $50,500 support zone. A low was formed at $50,636 and the price is now attempting a recovery wave. There was a move above the $51,000 level. The price spiked toward the 50% Fib retracement level of the downward move from the $52,991 swing high to the $50,636 low. Bitcoin is now trading below $52,000 and the 100 hourly Simple moving average. There is also a connecting bearish trend line forming with resistance at $51,550 on the hourly chart of the BTC\/USD pair. Immediate resistance is near the $51,550 level. The next key resistance could be $51,800, above which the price could rise toward the $52,500 resistance zone. It is near the 76.4% Fib retracement level of the downward move from the $52,991 swing high to the $50,636 low. Source: BTCUSD on TradingView.com The main resistance is now near the $53,000 level. A clear move above the $53,000 resistance could send the price toward the $53,500 resistance. The next resistance could be near the $54,200 level. More Losses In BTC? If Bitcoin fails to rise above the $52,000 resistance zone, it could start another decline in the near term. Immediate support on the downside is near the $51,100 level. The first major support is $50,500. If there is a close below $50,500, the price could gain bearish momentum. In the stated case, the price could decline toward the $49,200 support zone, below which the price might turn bearish in the short term. Technical indicators: Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level. Major Support Levels \u2013 $51,100, followed by $50,500. Major Resistance Levels \u2013 $51,550, $51,800, and $52,500.<\/p>\n","protected":false},"author":67,"featured_media":459185,"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":[428,679,1144,78790,76835],"class_list":["post-576300","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n
Bitcoin Price Holds Ground But Risk of Pullback Keeps Rising<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n