{"id":457938,"date":"2022-03-03T10:16:56","date_gmt":"2022-03-03T10:16:56","guid":{"rendered":"https:\/\/uniquehot.com\/?p=457938"},"modified":"2025-06-11T14:13:43","modified_gmt":"2025-06-11T14:13:43","slug":"bitcoin-surpasses-51k-traders-discuss-what-is-coming-next-in-short-term","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-surpasses-51k-traders-discuss-what-is-coming-next-in-short-term\/","title":{"rendered":"Bitcoin surpasses $51k: traders discuss what is coming next in short-term"},"content":{"rendered":"<p>The price of Bitcoin surpassed $51,000 after a week of stagnation. Traders are becoming more optimistic on the <a href=\"https:\/\/uniquehot.com\/analysis\/btc\/bitcoin-btc-could-surge-50k\/\">short-term price trend of BTC<\/a> as it picks up momentum.<\/p>\n<h2>Whales are buying Bitcoin<\/h2>\n<p>According to the on-chain data from CryptoQuant, whales are continuing to accumulate Bitcoin.<\/p>\n<p>At the $48,000 level, on-chain data indicate that high-net-worth investors were purchasing BTC, protecting the suport area.<\/p>\n<p><span style=\"font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen-Sans, Ubuntu, Cantarell, 'Helvetica Neue', sans-serif\">TraderKoz, a pseudonymous trader, said Bitcoin was above the midrange as soon as it broke $49,000. He said that Bitcoin was approaching the $52,000 level. He <a href=\"https:\/\/twitter.com\/TraderKoz\/status\/01970950\" rel=\"nofollow\">said<\/a>:<\/span><\/p>\n<blockquote><p><span style=\"font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen-Sans, Ubuntu, Cantarell, 'Helvetica Neue', sans-serif\">&#8220;Initial support held and now we are back above the midrange. Time to send it to 52k lads.&#8221;<\/span><\/p><\/blockquote>\n<figure id=\"attachment_457941\" aria-describedby=\"caption-attachment-457941\" style=\"width: 860px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-457941\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/03\/EvhyZz8WgAErxdW.jpeg?resize=860%2C450\" alt=\"bitcoin\" width=\"860\" height=\"450\"><figcaption id=\"caption-attachment-457941\" class=\"wp-caption-text\">The price of Bitcoin with key levels when it was at $49,000. Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" rel=\"nofollow\">TradingView.com<\/a><\/figcaption><\/figure>\n<p>Above $52,000, based on the technical structure of Bitcoin, the natural target is the $56,000 resistance area, followed by the all-time high.<\/p>\n<p>Another trader known as Il Capo of Crypto shared a similar sentiment, stating that the rally above $50,000 means the market is showing a bullish structure.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$BTC<\/a><\/p>\n<p>Good to see it above $50k again. <a href=\"https:\/\/t.co\/blskwYPaIq\" rel=\"nofollow\">pic.twitter.com\/blskwYPaIq<\/a><\/p>\n<p>&mdash; il Capo Of Crypto (@CryptoCapo_) <a href=\"https:\/\/twitter.com\/CryptoCapo_\/status\/54820610?ref_src=twsrc%5Etfw\" rel=\"nofollow\">March 3, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>What happens next?<\/h2>\n<p>In the short term, the key is whether Bitcoin breaks above $56,000 on strong volume and market sentiment.<\/p>\n<p>A break out above it would likely send BTC to around $60,000, based on technical structures and the Fibonacci Sequence.<\/p>\n<p>Considering that Bitcoin tends to drop during the weekend and reverse during the weekdays, the overnight reversal was expected to a large extent.<\/p>\n<p>Analysts at intotheblock found that $47,000 was the strong support area. Since Bitcoin consolidated above it and established it as a clear support area, the probability of a continued Bitcoin rally increases. The analysts <a href=\"https:\/\/twitter.com\/intotheblock\/status\/79386112\" rel=\"nofollow\">said<\/a>:<\/p>\n<blockquote><p>&#8220;The IOMAP indicator reveals that #Bitcoin is now sitting on the strongest level of support. This level of on-chain support is located between $46,2k and $47,7k. Here, more than 1.66 million addresses previously acquired roughly 878 thousand $BTC.&#8221;<\/p><\/blockquote>\n<p>Based on this trend, as long as Bitcoin stays above $47,000, the bullish market structure would be retained.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The price of Bitcoin surpassed $51,000 after a week of stagnation. Traders are becoming more optimistic on the short-term price trend of BTC as it picks up momentum. Whales are buying Bitcoin According to the on-chain data from CryptoQuant, whales are continuing to accumulate Bitcoin. At the $48,000 level, on-chain data indicate that high-net-worth investors were purchasing BTC, protecting the suport area. TraderKoz, a pseudonymous trader, said Bitcoin was above the midrange as soon as it broke $49,000. He said that Bitcoin was approaching the $52,000 level. He said: &#8220;Initial support held and now we are back above the midrange. Time to send it to 52k lads.&#8221; Above $52,000, based on the technical structure of Bitcoin, the natural target is the $56,000 resistance area, followed by the all-time high. Another trader known as Il Capo of Crypto shared a similar sentiment, stating that the rally above $50,000 means the market is showing a bullish structure. $BTC Good to see it above $50k again. pic.twitter.com\/blskwYPaIq &mdash; il Capo Of Crypto (@CryptoCapo_) March 3, 2021 What happens next? In the short term, the key is whether Bitcoin breaks above $56,000 on strong volume and market sentiment. A break out above it would likely send BTC to around $60,000, based on technical structures and the Fibonacci Sequence. Considering that Bitcoin tends to drop during the weekend and reverse during the weekdays, the overnight reversal was expected to a large extent. Analysts at intotheblock found that $47,000 was the strong support area. Since Bitcoin consolidated above it and established it as a clear support area, the probability of a continued Bitcoin rally increases. The analysts said: &#8220;The IOMAP indicator reveals that #Bitcoin is now sitting on the strongest level of support. This level of on-chain support is located between $46,2k and $47,7k. Here, more than 1.66 million addresses previously acquired roughly 878 thousand $BTC.&#8221; Based on this trend, as long as Bitcoin stays above $47,000, the bullish market structure would be retained.<\/p>\n","protected":false},"author":256,"featured_media":457940,"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],"class_list":["post-457938","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btcusd"],"acf":[],"yoast_head":"\n<title>Bitcoin surpasses $51k: traders discuss what is coming next in short-term<\/title>\n<meta name=\"description\" content=\"The price of Bitcoin surpassed $51,000 after a week of stagnation. 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