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{"id":478408,"date":"2021-12-08T03:08:12","date_gmt":"2021-12-08T03:08:12","guid":{"rendered":"https:\/\/uniquehot.com\/?p=478408"},"modified":"2024-06-11T14:09:37","modified_gmt":"2024-06-11T14:09:37","slug":"bitcoin-consolidates-gains-50k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-consolidates-gains-50k\/","title":{"rendered":"TA: Bitcoin Consolidates Gains, Why Dips Could Be Limited Below $50K"},"content":{"rendered":"

Bitcoin extended its recovery above $51,000 against the US Dollar. BTC must remain stable above $49,500 to continue higher in the near term.<\/em><\/p>\n

\n
Bitcoin started a recovery wave above the $50,500 resistance zone.<\/li>\n
The price is now trading above $50,000 and the 100 hourly simple moving average.<\/li>\n
There was a break below a connecting bullish trend line with support near $50,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could start a fresh increase if it is above the $49,500 level.<\/li>\n<\/ul>\n
Bitcoin Price Loses Steam<\/h2>\n
Bitcoin price extended its recovery wave above the $50,000 resistance zone<\/a>. BTC even climbed back above the $50,500 and $51,200 resistance levels.<\/p>\n
However, the price failed to surpass the $52,000 resistance zone. A high was formed near $51,955 and the price is now correcting gains. There was a break below the $51,000 support zone. The price declined below the 23.6% Fib retracement level of the upward move from the $47,210 swing low to $51,955 high.<\/p>\n
There was also a break below a connecting bullish trend line with support near $50,800 on the hourly chart of the BTC\/USD pair. The pair is now trading above $50,000 and the 100 hourly simple moving average<\/a>.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
An immediate resistance on the upside is near the $51,000 level. The next major resistance is near the $51,800 level. A clear break above the $51,080 resistance zone could open the doors for more upsides. The next key resistance is near the $52,000 level, above which the price could rise further. In the stated case, the price could rise towards the $53,500 level.<\/p>\n
More Losses In BTC?<\/h2>\n
If bitcoin fails to clear the $51,800 resistance zone, it could continue to move down. An immediate support on the downside is near the $50,000 level.<\/p>\n
The first major support is now forming near the $49,500 level and the 100 hourly SMA. It is near the 50% Fib retracement level of the upward move from the $47,210 swing low to $51,955 high. A downside break below the $49,500 support may perhaps increase selling pressure. The next stop for the bears might be $48,000.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is slowly gaining pace in the bearish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently below the 50 level.<\/p>\n
Major Support Levels \u2013 $50,000, followed by $49,500.<\/p>\n
Major Resistance Levels \u2013 $51,800, $52,000 and $53,500.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin extended its recovery above $51,000 against the US Dollar. BTC must remain stable above $49,500 to continue higher in the near term. Bitcoin started a recovery wave above the $50,500 resistance zone. The price is now trading above $50,000 and the 100 hourly simple moving average. There was a break below a connecting bullish trend line with support near $50,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start a fresh increase if it is above the $49,500 level. Bitcoin Price Loses Steam Bitcoin price extended its recovery wave above the $50,000 resistance zone. BTC even climbed back above the $50,500 and $51,200 resistance levels. However, the price failed to surpass the $52,000 resistance zone. A high was formed near $51,955 and the price is now correcting gains. There was a break below the $51,000 support zone. The price declined below the 23.6% Fib retracement level of the upward move from the $47,210 swing low to $51,955 high. There was also a break below a connecting bullish trend line with support near $50,800 on the hourly chart of the BTC\/USD pair. The pair is now trading above $50,000 and the 100 hourly simple moving average. Source: BTCUSD on TradingView.com An immediate resistance on the upside is near the $51,000 level. The next major resistance is near the $51,800 level. A clear break above the $51,080 resistance zone could open the doors for more upsides. The next key resistance is near the $52,000 level, above which the price could rise further. In the stated case, the price could rise towards the $53,500 level. More Losses In BTC? If bitcoin fails to clear the $51,800 resistance zone, it could continue to move down. An immediate support on the downside is near the $50,000 level. The first major support is now forming near the $49,500 level and the 100 hourly SMA. It is near the 50% Fib retracement level of the upward move from the $47,210 swing low to $51,955 high. A downside break below the $49,500 support may perhaps increase selling pressure. The next stop for the bears might be $48,000. Technical indicators: Hourly MACD \u2013 The MACD is slowly gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently below the 50 level. Major Support Levels \u2013 $50,000, followed by $49,500. Major Resistance Levels \u2013 $51,800, $52,000 and $53,500.<\/p>\n","protected":false},"author":67,"featured_media":462714,"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-478408","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\nTA: Bitcoin Consolidates Gains, Why Dips Could Be Limited Below $50K<\/title>\n<meta name=\"description\" content=\"Bitcoin extended its recovery above $51,000 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 Consolidates Gains, Why Dips Could Be Limited Below $50K","url":"http:\/\/uniquehot.com\/news\/bitcoin-consolidates-gains-50k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-consolidates-gains-50k\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/04\/shutterstock_764448946.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/04\/shutterstock_764448946.jpg?fit=1000%2C577"},"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":"2021-12-08T03:08:12Z","datePublished":"2021-12-08T03:08:12Z","dateModified":"2024-06-11T14:09:37Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Bitcoin Consolidates Gains, Why Dips Could Be Limited Below $50K\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-consolidates-gains-50k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-consolidates-gains-50k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_764448946.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_764448946.jpg?fit=1000%2C577\"},\"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\":\"2021-12-08T03:08:12Z\",\"datePublished\":\"2021-12-08T03:08:12Z\",\"dateModified\":\"2024-06-11T14:09:37Z\"}<\/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\/04\/shutterstock_764448946.jpg?fit=1000%2C577","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/478408"}],"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=478408"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/478408\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/462714"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=478408"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=478408"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=478408"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}