{"id":459491,"date":"2021-03-25T03:08:39","date_gmt":"2021-03-25T03:08:39","guid":{"rendered":"https:\/\/uniquehot.com\/?p=459491"},"modified":"2024-06-11T14:14:15","modified_gmt":"2024-06-11T14:14:15","slug":"bitcoin-btc-could-revisit-50k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-btc-could-revisit-50k\/","title":{"rendered":"TA: Bitcoin Breaks $53K, Why BTC Could Soon Revisit $50K"},"content":{"rendered":"
Bitcoin price attempted a recovery above $56,000 against the US Dollar, but it struggled above $57,000. BTC trimmed gains and it even broke the $53,200 support zone.<\/em><\/p>\n Yesterday, bitcoin started a decent recovery above the $55,500 and $56,000 levels. BTC even spiked above the $57,000 resistance<\/a> and the 100 hourly simple moving average.<\/p>\n However, the price struggled to continue higher and it started a fresh decline from the $57,235 high. It broke a few important supports near the $56,000 and $55,500 levels. There was also a break below a key bullish trend line with support near $54,220 on the hourly chart of the BTC\/USD pair.<\/p>\n The price even declined below the $54,000 support level and the $53,200 pivot level. It traded to a new weekly low at $51,634 and it is now consolidating losses. An initial resistance is near the $53,000 level. It is close to the 23.6% Fib retracement level of the recent decline from the $57,235 high to $51,634 low.<\/p>\n <\/a><\/p>\n The first major resistance is near the $53,200 pivot level. If there is a fresh increase above $53,200, the price could recover towards the $54,500 level. The 50% Fib retracement level of the recent decline from the $57,235 high to $51,634 low is also close to $54,500.<\/p>\n\n
Bitcoin Price Extends Losses<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
More Losses in BTC?<\/h2>\n