{"id":471016,"date":"2021-09-07T03:08:30","date_gmt":"2021-09-07T03:08:30","guid":{"rendered":"https:\/\/uniquehot.com\/?p=471016"},"modified":"2024-06-11T13:58:23","modified_gmt":"2024-06-11T13:58:23","slug":"bitcoin-price-breaks-52k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-breaks-52k\/","title":{"rendered":"TA: Bitcoin Price Breaks $52K, Why Rally Isn\u2019t Over Yet"},"content":{"rendered":"
Bitcoin price broke the key $52,000 resistance zone against the US Dollar. BTC remains supported and it could continue to climb higher towards $55,000.<\/em><\/p>\n Bitcoin price consolidated above the $51,000 zone for some time before starting a fresh increase. BTC broke the key $52,000 resistance zone<\/a> and the 100 hourly simple moving average to move further into a positive zone.<\/p>\n The price even broke the $52,500 resistance and traded as high as $52,800. It is now trading well above $52,000 and the 100 hourly simple moving average<\/a>. An immediate support is near the $52,400 level. It is near the 23.6% Fib retracement level of the recent increase from the $51,183 swing low to $52,800 high.<\/p>\n The next support could be near the $52,250 level. There is also a key bullish trend line forming with support near $52,250 on the hourly chart of the BTC\/USD pair.<\/p>\n <\/a><\/p>\n The main support is now forming near the $52,000 level. It is close to the 50% Fib retracement level of the recent increase from the $51,183 swing low to $52,800 high. If there is a downside break below the $52,000 support zone, the price could extend its decline. In the stated case, the price could test the $50,850 support or the 100 hourly SMA.<\/p>\n If bitcoin stays above the $52,000 support zone and the trend line, it could rise further. An immediate resistance on the upside is near the $52,650 level.<\/p>\n The first major resistance is near the $52,800 level. A close above the $52,800 level could pump the price further in the near term. The next major hurdle for the bulls could be near the $53,500 zone. Any more gains could lead the price towards the $54,200 level.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is slowly gaining pace in the bullish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is well above the 60 level.<\/p>\n Major Support Levels \u2013 $52,250, followed by $52,000.<\/p>\n Major Resistance Levels \u2013 $56,650, $52,800 and $53,500.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin price broke the key $52,000 resistance zone against the US Dollar. BTC remains supported and it could continue to climb higher towards $55,000. Bitcoin started a fresh increase above the $51,500 and $52,000 resistance levels. The price is now trading above $52,000 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $52,250 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could dips a few points, but it might find support near $52,250 and $52,000. Bitcoin Price Extends Gains Bitcoin price consolidated above the $51,000 zone for some time before starting a fresh increase. BTC broke the key $52,000 resistance zone and the 100 hourly simple moving average to move further into a positive zone. The price even broke the $52,500 resistance and traded as high as $52,800. It is now trading well above $52,000 and the 100 hourly simple moving average. An immediate support is near the $52,400 level. It is near the 23.6% Fib retracement level of the recent increase from the $51,183 swing low to $52,800 high. The next support could be near the $52,250 level. There is also a key bullish trend line forming with support near $52,250 on the hourly chart of the BTC\/USD pair. Source: BTCUSD on TradingView.com The main support is now forming near the $52,000 level. It is close to the 50% Fib retracement level of the recent increase from the $51,183 swing low to $52,800 high. If there is a downside break below the $52,000 support zone, the price could extend its decline. In the stated case, the price could test the $50,850 support or the 100 hourly SMA. More Upsides In BTC? If bitcoin stays above the $52,000 support zone and the trend line, it could rise further. An immediate resistance on the upside is near the $52,650 level. The first major resistance is near the $52,800 level. A close above the $52,800 level could pump the price further in the near term. The next major hurdle for the bulls could be near the $53,500 zone. Any more gains could lead the price towards the $54,200 level. Technical indicators: Hourly MACD \u2013 The MACD is slowly gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is well above the 60 level. Major Support Levels \u2013 $52,250, followed by $52,000. Major Resistance Levels \u2013 $56,650, $52,800 and $53,500.<\/p>\n","protected":false},"author":67,"featured_media":462274,"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-471016","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 Extends Gains<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
More Upsides In BTC?<\/h2>\n