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{"id":574767,"date":"2024-02-13T02:58:09","date_gmt":"2024-02-13T02:58:09","guid":{"rendered":"https:\/\/ktsl888.com\/?p=574767"},"modified":"2024-06-11T08:34:59","modified_gmt":"2024-06-11T08:34:59","slug":"bitcoin-price-revisits-50k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-price-revisits-50k\/","title":{"rendered":"Bitcoin Price Revisits $50K, Why BTC Could Start A Short-Term Correction"},"content":{"rendered":"

Bitcoin price extended its rally above the $48,800 resistance. BTC tested $50,000 and is currently showing signs of a downside correction.<\/em><\/p>\n

\n
Bitcoin price climbed higher above the $48,500 and $48,800 resistance levels.<\/li>\n
The price is trading above $48,800 and the 100 hourly Simple moving average.<\/li>\n
There is a short-term rising channel forming with support at $49,750 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could start a downside correction below the $49,750 and $49,500 levels.<\/li>\n<\/ul>\n
Bitcoin Price Jumps 5%<\/h2>\n
Bitcoin price remained in a positive zone above the $48,000 resistance zone<\/a>. BTC extended its rally and climbed above the $48,800 resistance zone. Finally, the price jumped above the $50,000 level.<\/p>\n
A new multi-week high was formed near $50,339 and the price is now consolidating gains. There was a minor decline below the $50,000 level. The price is still above the 23.6% Fib retracement level of the recent rally from the $47,642 swing low to the $50,339 high.<\/p>\n
Bitcoin price is now trading above $48,800 and the 100 hourly Simple moving average<\/a>. There is also a short-term rising channel forming with support at $49,750 on the hourly chart of the BTC\/USD pair.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/p>\n
Immediate resistance is near the $50,250 level. The next key resistance could be $50,400, above which the price could start another decent increase. The next stop for the bulls may perhaps be $51,200. A clear move above the $51,200 resistance could send the price toward the $52,000 resistance. The next resistance could be near the $53,000 level.<\/p>\n
Downside Correction In BTC?<\/h2>\n
If Bitcoin fails to rise above the $50,250 resistance zone, it could start a downside correction. Immediate support on the downside is near the $49,750 level or the channel trend line.<\/p>\n
The first major support is $49,000 and the 50% Fib retracement level of the recent rally from the $47,642 swing low to the $50,339 high. If there is a close below $49,000, the price could gain bearish momentum. In the stated case, the price could dive toward the $47,650 support.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now losing pace in the bullish 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 $49,750, followed by $49,000.<\/p>\n
Major Resistance Levels \u2013 $50,250, $50,400, and $51,200.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price extended its rally above the $48,800 resistance. BTC tested $50,000 and is currently showing signs of a downside correction. Bitcoin price climbed higher above the $48,500 and $48,800 resistance levels. The price is trading above $48,800 and the 100 hourly Simple moving average. There is a short-term rising channel forming with support at $49,750 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start a downside correction below the $49,750 and $49,500 levels. Bitcoin Price Jumps 5% Bitcoin price remained in a positive zone above the $48,000 resistance zone. BTC extended its rally and climbed above the $48,800 resistance zone. Finally, the price jumped above the $50,000 level. A new multi-week high was formed near $50,339 and the price is now consolidating gains. There was a minor decline below the $50,000 level. The price is still above the 23.6% Fib retracement level of the recent rally from the $47,642 swing low to the $50,339 high. Bitcoin price is now trading above $48,800 and the 100 hourly Simple moving average. There is also a short-term rising channel forming with support at $49,750 on the hourly chart of the BTC\/USD pair. Source: BTCUSD on TradingView.com Immediate resistance is near the $50,250 level. The next key resistance could be $50,400, above which the price could start another decent increase. The next stop for the bulls may perhaps be $51,200. A clear move above the $51,200 resistance could send the price toward the $52,000 resistance. The next resistance could be near the $53,000 level. Downside Correction In BTC? If Bitcoin fails to rise above the $50,250 resistance zone, it could start a downside correction. Immediate support on the downside is near the $49,750 level or the channel trend line. The first major support is $49,000 and the 50% Fib retracement level of the recent rally from the $47,642 swing low to the $50,339 high. If there is a close below $49,000, the price could gain bearish momentum. In the stated case, the price could dive toward the $47,650 support. Technical indicators: Hourly MACD \u2013 The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level. Major Support Levels \u2013 $49,750, followed by $49,000. Major Resistance Levels \u2013 $50,250, $50,400, and $51,200.<\/p>\n","protected":false},"author":67,"featured_media":458261,"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-574767","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":"\nBitcoin Price Revisits $50K, Why BTC Could Start A Short-Term Correction<\/title>\n<meta name=\"description\" content=\"Bitcoin price extended its rally above the $48,800 resistance. 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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. In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.","sameAs":["https:\/\/www.linkedin.com\/in\/aayush-jindal-358b6932\/","https:\/\/x.com\/twitter.com\/AayushJs"],"url":"https:\/\/ktsl888.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Price Revisits $50K, Why BTC Could Start A Short-Term Correction","url":"http:\/\/ktsl888.com\/news\/bitcoin-price-revisits-50k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/bitcoin-price-revisits-50k\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/03\/shutterstock_199289291-1.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/03\/shutterstock_199289291-1.jpg?fit=1000%2C667"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin price","btcusd","btcusdt","xbtusd"],"dateCreated":"2024-02-13T02:58:09Z","datePublished":"2024-02-13T02:58:09Z","dateModified":"2024-06-11T08:34:59Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Revisits $50K, Why BTC Could Start A Short-Term Correction\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-price-revisits-50k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-price-revisits-50k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_199289291-1.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_199289291-1.jpg?fit=1000%2C667\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin price\",\"btcusd\",\"btcusdt\",\"xbtusd\"],\"dateCreated\":\"2024-02-13T02:58:09Z\",\"datePublished\":\"2024-02-13T02:58:09Z\",\"dateModified\":\"2024-06-11T08:34:59Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/03\/shutterstock_199289291-1.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/574767"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=574767"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/574767\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/458261"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=574767"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=574767"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=574767"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}