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{"id":478602,"date":"2021-12-10T03:08:09","date_gmt":"2021-12-10T03:08:09","guid":{"rendered":"https:\/\/uniquehot.com\/?p=478602"},"modified":"2024-06-11T11:43:32","modified_gmt":"2024-06-11T11:43:32","slug":"bitcoin-rejects-50k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-rejects-50k\/","title":{"rendered":"TA: Bitcoin Rejects 50k: Why It Is Vulnerable To Below 48k"},"content":{"rendered":"

Bitcoin is struggling to clear the $50,000 resistance zone against the US Dollar. BTC could decline heavily if there is a clear move below the $47,300 level.<\/em><\/p>\n

\n
Bitcoin is struggling and showing bearish signs below the $50,000 resistance.<\/li>\n
The price is now trading below $49,500 and the 100 hourly simple moving average.<\/li>\n
There is a major bearish trend line forming with resistance near $49,600 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 able to clear the $50,000 level.<\/li>\n<\/ul>\n
Bitcoin Price Holds Key Support<\/h2>\n
Bitcoin price started a fresh decline from the $52,000 resistance zone<\/a>. BTC broke the $49,000 support level and settled below the 100 hourly simple moving average.<\/p>\n
There was also a move below the $48,000 level, but the bulls were active near the $47,300 zone. A low is formed near $47,298 and the price is now correcting losses<\/a>. There was a move above the $48,000 resistance zone.<\/p>\n
Bitcoin climbed above the 23.6% Fib retracement level of the downward move from the $51,955 swing high to $47,298 low. The price is now trading below $49,500 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $49,000 level.<\/p>\n
The next major resistance is near the $49,500 level. There is also a major bearish trend line forming with resistance near $49,900 on the hourly chart of the BTC\/USD pair.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
The trend line is close to the 50% Fib retracement level of the downward move from the $51,955 swing high to $47,298 low. A clear break above the $49,500 resistance zone could open the doors for more upsides. The next key resistance is near the $50,000 level, above which the price may possibly start a steady increase.<\/p>\n
More Losses In BTC?<\/h2>\n
If bitcoin fails to clear the $49,500 resistance zone, it could continue to move down. An immediate support on the downside is near the $48,000 level.<\/p>\n
The first major support is now forming near the $47,300 level. A downside break below the $47,300 support may perhaps increase selling pressure. The next stop for the bears might be $46,000.<\/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 currently above the 50 level.<\/p>\n
Major Support Levels \u2013 $48,000, followed by $47,300.<\/p>\n
Major Resistance Levels \u2013 $49,500, $50,000 and $52,000.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin is struggling to clear the $50,000 resistance zone against the US Dollar. BTC could decline heavily if there is a clear move below the $47,300 level. Bitcoin is struggling and showing bearish signs below the $50,000 resistance. The price is now trading below $49,500 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $49,600 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start a fresh increase if it is able to clear the $50,000 level. Bitcoin Price Holds Key Support Bitcoin price started a fresh decline from the $52,000 resistance zone. BTC broke the $49,000 support level and settled below the 100 hourly simple moving average. There was also a move below the $48,000 level, but the bulls were active near the $47,300 zone. A low is formed near $47,298 and the price is now correcting losses. There was a move above the $48,000 resistance zone. Bitcoin climbed above the 23.6% Fib retracement level of the downward move from the $51,955 swing high to $47,298 low. The price is now trading below $49,500 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $49,000 level. The next major resistance is near the $49,500 level. There is also a major bearish trend line forming with resistance near $49,900 on the hourly chart of the BTC\/USD pair. Source: BTCUSD on TradingView.com The trend line is close to the 50% Fib retracement level of the downward move from the $51,955 swing high to $47,298 low. A clear break above the $49,500 resistance zone could open the doors for more upsides. The next key resistance is near the $50,000 level, above which the price may possibly start a steady increase. More Losses In BTC? If bitcoin fails to clear the $49,500 resistance zone, it could continue to move down. An immediate support on the downside is near the $48,000 level. The first major support is now forming near the $47,300 level. A downside break below the $47,300 support may perhaps increase selling pressure. The next stop for the bears might be $46,000. 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 currently above the 50 level. Major Support Levels \u2013 $48,000, followed by $47,300. Major Resistance Levels \u2013 $49,500, $50,000 and $52,000.<\/p>\n","protected":false},"author":67,"featured_media":459296,"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-478602","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 Rejects 50k: Why It Is Vulnerable To Below 48k<\/title>\n<meta name=\"description\" content=\"Bitcoin is struggling to clear the $50,000 resistance zone 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 Rejects 50k: Why It Is Vulnerable To Below 48k","url":"http:\/\/uniquehot.com\/news\/bitcoin-rejects-50k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-rejects-50k\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/03\/shutterstock_1324745120.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/03\/shutterstock_1324745120.jpg?fit=1000%2C667"},"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":"2021-12-10T03:08:09Z","datePublished":"2021-12-10T03:08:09Z","dateModified":"2024-06-11T11:43:32Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Bitcoin Rejects 50k: Why It Is Vulnerable To Below 48k\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-rejects-50k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-rejects-50k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_1324745120.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_1324745120.jpg?fit=1000%2C667\"},\"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\":\"2021-12-10T03:08:09Z\",\"datePublished\":\"2021-12-10T03:08:09Z\",\"dateModified\":\"2024-06-11T11:43:32Z\"}<\/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_1324745120.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/478602"}],"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=478602"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/478602\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/459296"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=478602"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=478602"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=478602"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}