{"id":470776,"date":"2021-09-03T03:08:54","date_gmt":"2021-09-03T03:08:54","guid":{"rendered":"https:\/\/uniquehot.com\/?p=470776"},"modified":"2024-06-11T11:08:50","modified_gmt":"2024-06-11T11:08:50","slug":"bitcoin-corrects-lower-50k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-corrects-lower-50k\/","title":{"rendered":"TA: Bitcoin Corrects Lower, Why BTC Could Rally Again"},"content":{"rendered":"<p><em>Bitcoin price extended its increase above $50,000 before correcting lower against the US Dollar. BTC could find bids near $48,250 and it might start a fresh rally.<\/em><\/p>\n<ul>\n<li>Bitcoin started a fresh increase above the $49,500 and $50,000 resistance levels.<\/li>\n<li>The price is now trading above $48,500 and the 100 hourly simple moving average.<\/li>\n<li>There was a break below a key bullish trend line with support near $49,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could start a fresh increase as long as it is above the $48,000 support zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Dips From $50K<\/h2>\n<p>Bitcoin price <a href=\"https:\/\/uniquehot.com\/analysis\/btc\/bitcoin-rallies-50k\/\" target=\"_blank\" rel=\"noopener \">extended its increase<\/a> above the $49,000 resistance zone. BTC even surpassed the $50,000 resistance zone, but it failed to continue higher.<\/p>\n<p>A high was formed near $50,364 before the price started a downside correction. There was a break below the $50,000 and $49,000 levels. Besides, there was a break below a key bullish trend line with support near $49,000 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>The pair tested the 50% Fib retracement level of the upward move from the $46,640 swing low to $50,364 high. Bitcoin is also trading above $48,500 and the <a href=\"https:\/\/uniquehot.com\/analysis\/btc\/bitcoin-holds-key-support-46500\/\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>.<\/p>\n<p><a href=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/09\/Bitcoin-2.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-470777\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/09\/Bitcoin-2.png?resize=1834%2C848\" alt=\"Bitcoin Price\" width=\"1834\" height=\"848\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/09\/Bitcoin-2.png?w=1834 1834w, https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/09\/Bitcoin-2.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/09\/Bitcoin-2.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/09\/Bitcoin-2.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/09\/Bitcoin-2.png?w=1536 1536w, https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/09\/Bitcoin-2.png?w=750 750w, https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/09\/Bitcoin-2.png?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<pre>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/pre>\n<p>The next key support is near the $48,250 level and $48,000. It is close to the 61.8% Fib retracement level of the upward move from the $46,640 swing low to $50,364 high. If there is a downside break below the $48,000 support zone and the 100 hourly SMA, the price might start a fresh decline. The next major support is near the $46,500 level.<\/p>\n<h2>Fresh Rally In BTC?<\/h2>\n<p>If bitcoin stays above the $48,000 support zone and the 100 hourly SMA, it could start a fresh increase. An immediate resistance on the upside is near the $49,000 level.<\/p>\n<p>The first major resistance is near the $49,200 level. A close above the $49,200 level could push the price towards the $50,000 zone. Any more gains could lead the price towards the $51,550 resistance. The next major hurdle for the bulls could be near the $52,000 zone.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is gaining pace in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is just below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $48,250, followed by $48,000.<\/p>\n<p>Major Resistance Levels \u2013 $49,200, $50,000 and $50,400.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price extended its increase above $50,000 before correcting lower against the US Dollar. BTC could find bids near $48,250 and it might start a fresh rally. Bitcoin started a fresh increase above the $49,500 and $50,000 resistance levels. The price is now trading above $48,500 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $49,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start a fresh increase as long as it is above the $48,000 support zone. Bitcoin Price Dips From $50K Bitcoin price extended its increase above the $49,000 resistance zone. BTC even surpassed the $50,000 resistance zone, but it failed to continue higher. A high was formed near $50,364 before the price started a downside correction. There was a break below the $50,000 and $49,000 levels. Besides, there was a break below a key bullish trend line with support near $49,000 on the hourly chart of the BTC\/USD pair. The pair tested the 50% Fib retracement level of the upward move from the $46,640 swing low to $50,364 high. Bitcoin is also trading above $48,500 and the 100 hourly simple moving average. Source: BTCUSD on TradingView.com The next key support is near the $48,250 level and $48,000. It is close to the 61.8% Fib retracement level of the upward move from the $46,640 swing low to $50,364 high. If there is a downside break below the $48,000 support zone and the 100 hourly SMA, the price might start a fresh decline. The next major support is near the $46,500 level. Fresh Rally In BTC? If bitcoin stays above the $48,000 support zone and the 100 hourly SMA, it could start a fresh increase. An immediate resistance on the upside is near the $49,000 level. The first major resistance is near the $49,200 level. A close above the $49,200 level could push the price towards the $50,000 zone. Any more gains could lead the price towards the $51,550 resistance. The next major hurdle for the bulls could be near the $52,000 zone. Technical indicators: Hourly MACD \u2013 The MACD is gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is just below the 50 level. Major Support Levels \u2013 $48,250, followed by $48,000. Major Resistance Levels \u2013 $49,200, $50,000 and $50,400.<\/p>\n","protected":false},"author":67,"featured_media":459593,"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-470776","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<title>TA: Bitcoin Corrects Lower, Why BTC Could Rally Again<\/title>\n<meta name=\"description\" content=\"Bitcoin price extended its increase above $50,000 before correcting lower against the US Dollar. 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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:\/\/uniquehot.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"TA: Bitcoin Corrects Lower, Why BTC Could Rally Again","url":"http:\/\/uniquehot.com\/news\/bitcoin-corrects-lower-50k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-corrects-lower-50k\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/03\/shutterstock_555674926.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/03\/shutterstock_555674926.jpg?fit=1000%2C680"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btcusd","btcusdt","xbtusd"],"dateCreated":"2021-09-03T03:08:54Z","datePublished":"2021-09-03T03:08:54Z","dateModified":"2024-06-11T11:08:50Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Bitcoin Corrects Lower, Why BTC Could Rally Again\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-corrects-lower-50k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-corrects-lower-50k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_555674926.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_555674926.jpg?fit=1000%2C680\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btcusd\",\"btcusdt\",\"xbtusd\"],\"dateCreated\":\"2021-09-03T03:08:54Z\",\"datePublished\":\"2021-09-03T03:08:54Z\",\"dateModified\":\"2024-06-11T11:08:50Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/03\/shutterstock_555674926.jpg?fit=1000%2C680","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/470776","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=470776"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/470776\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/459593"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=470776"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=470776"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=470776"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}