{"id":457983,"date":"2021-03-04T03:18:12","date_gmt":"2021-03-04T03:18:12","guid":{"rendered":"https:\/\/ktsl888.com\/?p=457983"},"modified":"2024-06-11T14:13:43","modified_gmt":"2024-06-11T14:13:43","slug":"bitcoin-btc-could-rally-55k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-btc-could-rally-55k\/","title":{"rendered":"TA: Bitcoin Turns Attractive Above $50K, Why BTC Could Rally To $55K"},"content":{"rendered":"
Bitcoin price extended its rise and cleared the $50,000 resistance against the US Dollar. BTC is now consolidating gains and it is likely to climb further above $52,000.<\/em><\/p>\n After a close above the $48,000 resistance, bitcoin was able to gain strength<\/a> above the main $50,000 resistance. BTC even cleared the $51,500 level and spiked above the $52,000 level.<\/p>\n It traded to a new monthly high near $52,650 and settled well above the 100 hourly simple moving average<\/a>. It is now trading in a positive zone above the $50,000 and $50,500 support levels. There was a minor correction recently below the $51,000 level.<\/p>\n The price traded below the 23.6% Fib retracement level of the upward move from the $47,102 swing low to $52,648 high. However, the bulls were active near the $50,000 and $49,500 levels.<\/p>\n <\/a><\/p>\n There is also a major bullish trend line forming with support near $49,800 on the hourly chart of the BTC\/USD pair. Bitcoin also remained well above the 50% Fib retracement level of the upward move from the $47,102 swing low to $52,648 high.<\/p>\n It is now trading above $51,000 and testing a connecting bearish trend line at $51,500. A clear break above the trend line resistance could open the doors for a move towards the $52,500 and $53,200 levels. The next key resistance sits near the $55,000 level.<\/p>\n If bitcoin fails to continue higher above the $52,000 and $52,500 resistance levels, there could be a minor decline. The first key support on the downside is near the $50,500 level.<\/p>\n The next major support is near the $50,000 level and the trend line. If there is a downside break below the trend line support, the price could test the $48,000 support and the 100 hourly SMA.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is now gaining momentum in the bullish 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 $50,500, 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 extended its rise and cleared the $50,000 resistance against the US Dollar. BTC is now consolidating gains and it is likely to climb further above $52,000. Bitcoin is trading in a positive zone above the $50,000 and $50,500 support levels. The price is now trading well above $51,000 and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $49,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could extend its rally once it clears $52,000 and $52,500 in the near term. Bitcoin Price is Gaining Momentum After a close above the $48,000 resistance, bitcoin was able to gain strength above the main $50,000 resistance. BTC even cleared the $51,500 level and spiked above the $52,000 level. It traded to a new monthly high near $52,650 and settled well above the 100 hourly simple moving average. It is now trading in a positive zone above the $50,000 and $50,500 support levels. There was a minor correction recently below the $51,000 level. The price traded below the 23.6% Fib retracement level of the upward move from the $47,102 swing low to $52,648 high. However, the bulls were active near the $50,000 and $49,500 levels. Source: BTCUSD on TradingView.com There is also a major bullish trend line forming with support near $49,800 on the hourly chart of the BTC\/USD pair. Bitcoin also remained well above the 50% Fib retracement level of the upward move from the $47,102 swing low to $52,648 high. It is now trading above $51,000 and testing a connecting bearish trend line at $51,500. A clear break above the trend line resistance could open the doors for a move towards the $52,500 and $53,200 levels. The next key resistance sits near the $55,000 level. Fresh Dip in BTC? If bitcoin fails to continue higher above the $52,000 and $52,500 resistance levels, there could be a minor decline. The first key support on the downside is near the $50,500 level. The next major support is near the $50,000 level and the trend line. If there is a downside break below the trend line support, the price could test the $48,000 support and the 100 hourly SMA. Technical indicators: Hourly MACD \u2013 The MACD is now gaining momentum in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now well above the 50 level. Major Support Levels \u2013 $50,500, 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-457983","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 is Gaining Momentum<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Fresh Dip in BTC?<\/h2>\n