{"id":478527,"date":"2021-12-09T03:08:29","date_gmt":"2021-12-09T03:08:29","guid":{"rendered":"https:\/\/uniquehot.com\/?p=478527"},"modified":"2024-06-11T14:09:41","modified_gmt":"2024-06-11T14:09:41","slug":"bitcoin-holds-support-52k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-holds-support-52k\/","title":{"rendered":"TA: Bitcoin Holds Support, Indicators Suggest Fresh Increase to $52K"},"content":{"rendered":"
Bitcoin remained well bid above the $49,000 support against the US Dollar. BTC could start a fresh increase if it clears the $50,800 resistance zone.<\/em><\/p>\n Bitcoin price corrected below the $50,000 support level from the $52,000 resistance zone<\/a>. BTC broke the $49,500 support level, but the bulls were active above the $49,000 level.<\/p>\n The last swing high was formed near $51,955 before there was a downside correction. The price traded below the 50% Fib retracement level of the recent increase from the $47,210 swing low to $51,955 high. Bitcoin price also spiked below the $49,500 support and the 100 hourly simple moving average<\/a>.<\/p>\n However, it was stable near the $49,000 level. The 61.8% Fib retracement level of the recent increase from the $47,210 swing low to $51,955 high also acted as a support.<\/p>\n The price is now trading above $49,500 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $50,400 level. The next major resistance is near the $50,500 level. There is also a key bearish trend line forming with resistance near $50,500 on the hourly chart of the BTC\/USD pair.<\/p>\n <\/a><\/p>\n A clear break above the $50,500 resistance zone could open the doors for more upsides. The next key resistance is near the $52,000 level, above which the price may possibly start a major increase.<\/p>\n If bitcoin fails to clear the $50,500 resistance zone, it could continue to move down. An immediate support on the downside is near the $50,000 level and the 100 hourly SMA.<\/p>\n The first major support is now forming near the $49,000 level. A downside break below the $49,000 support may perhaps increase selling pressure. The next stop for the bears might be $47,200.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is slowly losing pace in the bearish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently near the 50 level.<\/p>\n Major Support Levels \u2013 $50,000, followed by $49,000.<\/p>\n Major Resistance Levels \u2013 $50,500, $52,000 and $53,500.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin remained well bid above the $49,000 support against the US Dollar. BTC could start a fresh increase if it clears the $50,800 resistance zone. Bitcoin is showing a few positive signs above the $49,000 support zone. The price is now trading above $49,500 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $50,500 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 $49,000 level. Bitcoin Price Aims Fresh Increase Bitcoin price corrected below the $50,000 support level from the $52,000 resistance zone. BTC broke the $49,500 support level, but the bulls were active above the $49,000 level. The last swing high was formed near $51,955 before there was a downside correction. The price traded below the 50% Fib retracement level of the recent increase from the $47,210 swing low to $51,955 high. Bitcoin price also spiked below the $49,500 support and the 100 hourly simple moving average. However, it was stable near the $49,000 level. The 61.8% Fib retracement level of the recent increase from the $47,210 swing low to $51,955 high also acted as a support. The price is now trading above $49,500 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $50,400 level. The next major resistance is near the $50,500 level. There is also a key bearish trend line forming with resistance near $50,500 on the hourly chart of the BTC\/USD pair. Source: BTCUSD on TradingView.com A clear break above the $50,500 resistance zone could open the doors for more upsides. The next key resistance is near the $52,000 level, above which the price may possibly start a major increase. More Losses In BTC? If bitcoin fails to clear the $50,500 resistance zone, it could continue to move down. An immediate support on the downside is near the $50,000 level and the 100 hourly SMA. The first major support is now forming near the $49,000 level. A downside break below the $49,000 support may perhaps increase selling pressure. The next stop for the bears might be $47,200. Technical indicators: Hourly MACD \u2013 The MACD is slowly losing pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently near the 50 level. Major Support Levels \u2013 $50,000, followed by $49,000. Major Resistance Levels \u2013 $50,500, $52,000 and $53,500.<\/p>\n","protected":false},"author":67,"featured_media":464001,"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-478527","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 Aims Fresh Increase<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
More Losses In BTC?<\/h2>\n