{"id":458147,"date":"2021-03-07T04:58:24","date_gmt":"2021-03-07T04:58:24","guid":{"rendered":"https:\/\/uniquehot.com\/?p=458147"},"modified":"2024-06-11T14:13:46","modified_gmt":"2024-06-11T14:13:46","slug":"bitcoin-price-could-start-strong-increase-50k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-could-start-strong-increase-50k\/","title":{"rendered":"Why Bitcoin Price Could Start Strong Increase Above $50K"},"content":{"rendered":"
Bitcoin price is showing a few positive signs above $48,000 against the US Dollar. BTC is likely to start a strong increase if it settles above $50,000 and the 100 SMA (H4).<\/em><\/p>\n This past week, bitcoin price corrected lower<\/a> below the $48,000 support zone against the US Dollar. The BTC\/USD pair even broke the $47,000 level and settled below the 100 simple moving average (4-hours).<\/p>\n However, the bulls were able to protect a downside break below the $46,000 area. A low was formed near $46,350 before the price started a fresh increase<\/a>. It cleared the $47,000 and $48,000 resistance levels. There was also a break above the 50% Fib retracement level of the downward move from the $52,640 swing high to $46,350 low.<\/p>\n <\/a><\/p>\n It is now approaching the $50,000 resistance and the 100 simple moving average (4-hours). There is also a key contracting triangle forming with resistance near $50,200 on the 4-hours chart of the BTC\/USD pair.<\/p>\n The triangle resistance is close to the 61.8% Fib retracement level of the downward move from the $52,640 swing high to $46,350 low. A clear break above the triangle resistance could open the doors for a fresh increase towards the $52,000 and $53,000 resistance levels. The next major hurdle for bitcoin could be near $55,000.<\/p>\n If bitcoin fails toc clear the $50,000 and $50,500 resistance levels, it could correct lower. The first key support is near the $48,800 level.<\/p>\n The main support is near the triangle lower trend line and $48,000. A clear break below the triangle support zone could clear the path for a move towards the $45,00 support zone in the near term.<\/p>\n Technical indicators<\/p>\n 4 hours MACD \u2013 The MACD for BTC\/USD is showing positive signs in the bullish zone.<\/p>\n 4 hours RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now well above the 50 level.<\/p>\n Major Support Level \u2013 $48,000<\/p>\n Major Resistance Level \u2013 $50,000<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin price is showing a few positive signs above $48,000 against the US Dollar. BTC is likely to start a strong increase if it settles above $50,000 and the 100 SMA (H4). Bitcoin remained well bid above $43,000 and $45,000 support levels. The price is now approaching the $50,000 resistance and the 100 simple moving average (4-hours). There is a key contracting triangle forming with resistance near $50,200 on the 4-hours chart of the BTC\/USD pair (data feed from Kraken). The pair is likely to start a strong increase if it clears the $50,000 and $50,500 resistance levels. Bitcoin Price is Gaining Momentum This past week, bitcoin price corrected lower below the $48,000 support zone against the US Dollar. The BTC\/USD pair even broke the $47,000 level and settled below the 100 simple moving average (4-hours). However, the bulls were able to protect a downside break below the $46,000 area. A low was formed near $46,350 before the price started a fresh increase. It cleared the $47,000 and $48,000 resistance levels. There was also a break above the 50% Fib retracement level of the downward move from the $52,640 swing high to $46,350 low. Source: BTCUSD on TradingView.com It is now approaching the $50,000 resistance and the 100 simple moving average (4-hours). There is also a key contracting triangle forming with resistance near $50,200 on the 4-hours chart of the BTC\/USD pair. The triangle resistance is close to the 61.8% Fib retracement level of the downward move from the $52,640 swing high to $46,350 low. A clear break above the triangle resistance could open the doors for a fresh increase towards the $52,000 and $53,000 resistance levels. The next major hurdle for bitcoin could be near $55,000. Limited Downsides in BTC? If bitcoin fails toc clear the $50,000 and $50,500 resistance levels, it could correct lower. The first key support is near the $48,800 level. The main support is near the triangle lower trend line and $48,000. A clear break below the triangle support zone could clear the path for a move towards the $45,00 support zone in the near term. Technical indicators 4 hours MACD \u2013 The MACD for BTC\/USD is showing positive signs in the bullish zone. 4 hours RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now well above the 50 level. Major Support Level \u2013 $48,000 Major Resistance Level \u2013 $50,000<\/p>\n","protected":false},"author":67,"featured_media":458151,"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-458147","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
Limited Downsides in BTC?<\/h2>\n