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{"id":575920,"date":"2024-02-20T02:52:38","date_gmt":"2024-02-20T02:52:38","guid":{"rendered":"https:\/\/uniquehot.com\/?p=575920"},"modified":"2024-06-11T09:29:44","modified_gmt":"2024-06-11T09:29:44","slug":"bitcoin-price-consolidates-52500","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-consolidates-52500\/","title":{"rendered":"Bitcoin Price Consolidates Below Resistance, Are Dips Still Supported?"},"content":{"rendered":"

Bitcoin price is correcting gains from the $52,500 resistance. BTC must stay above the $50,500 support to remain in a bullish zone this month.<\/em><\/p>\n

\n
Bitcoin price is struggling to clear the $52,800 resistance zone.<\/li>\n
The price is trading below $52,200 and the 100 hourly Simple moving average.<\/li>\n
There was a break below a key bullish trend line with support at $52,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could start a fresh increase unless there is a clear move below the $50,500 support.<\/li>\n<\/ul>\n
Bitcoin Price Faces Hurdles<\/h2>\n
Bitcoin price made another attempt to gain strength above the $52,000 resistance zone<\/a>. BTC broke the $52,200 level, but the bears were still active near the $52,500 level.<\/p>\n
A high was formed near $52,475 and the price is now correcting gains<\/a>. There was a move below the $52,000 level. The pair traded below the 50% Fib retracement level of the upward move from the $50,581 swing low to the $52,475 high.<\/p>\n
Besides, there was a break below a key bullish trend line with support at $52,200 on the hourly chart of the BTC\/USD pair. Bitcoin is now trading below $52,000 and the 100 hourly Simple moving average.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/p>\n
Immediate resistance is near the $52,000 level. The next key resistance could be $52,200, above which the price could rise toward the $52,500 resistance zone. The main resistance is still near the $52,800 level. A clear move above the $52,800 resistance could send the price toward the $53,500 resistance. The next resistance could be near the $55,000 level.<\/p>\n
More Losses In BTC?<\/h2>\n
If Bitcoin fails to rise above the $52,200 resistance zone, it could start another decline in the near term. Immediate support on the downside is near the $51,300 level and the 61.8% Fib retracement level of the upward move from the $50,581 swing low to the $52,475 high.<\/p>\n
The first major support is $51,000. If there is a close below $51,000, the price could gain bearish momentum. In the stated case, the price could decline toward the $50,500 support zone, below which the price might turn bearish in the short term.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level.<\/p>\n
Major Support Levels \u2013 $51,300, followed by $50,500.<\/p>\n
Major Resistance Levels \u2013 $52,200, $52,500, and $52,800.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price is correcting gains from the $52,500 resistance. BTC must stay above the $50,500 support to remain in a bullish zone this month. Bitcoin price is struggling to clear the $52,800 resistance zone. The price is trading below $52,200 and the 100 hourly Simple moving average. There was a break below a key bullish trend line with support at $52,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start a fresh increase unless there is a clear move below the $50,500 support. Bitcoin Price Faces Hurdles Bitcoin price made another attempt to gain strength above the $52,000 resistance zone. BTC broke the $52,200 level, but the bears were still active near the $52,500 level. A high was formed near $52,475 and the price is now correcting gains. There was a move below the $52,000 level. The pair traded below the 50% Fib retracement level of the upward move from the $50,581 swing low to the $52,475 high. Besides, there was a break below a key bullish trend line with support at $52,200 on the hourly chart of the BTC\/USD pair. Bitcoin is now trading below $52,000 and the 100 hourly Simple moving average. Source: BTCUSD on TradingView.com Immediate resistance is near the $52,000 level. The next key resistance could be $52,200, above which the price could rise toward the $52,500 resistance zone. The main resistance is still near the $52,800 level. A clear move above the $52,800 resistance could send the price toward the $53,500 resistance. The next resistance could be near the $55,000 level. More Losses In BTC? If Bitcoin fails to rise above the $52,200 resistance zone, it could start another decline in the near term. Immediate support on the downside is near the $51,300 level and the 61.8% Fib retracement level of the upward move from the $50,581 swing low to the $52,475 high. The first major support is $51,000. If there is a close below $51,000, the price could gain bearish momentum. In the stated case, the price could decline toward the $50,500 support zone, below which the price might turn bearish in the short term. Technical indicators: Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level. Major Support Levels \u2013 $51,300, followed by $50,500. Major Resistance Levels \u2013 $52,200, $52,500, and $52,800.<\/p>\n","protected":false},"author":67,"featured_media":463396,"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":[428,679,1144,78790,76835],"class_list":["post-575920","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\nBitcoin Price Consolidates Below Resistance, Are Dips Still Supported?<\/title>\n<meta name=\"description\" content=\"Bitcoin price is correcting gains from the $52,500 resistance. 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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":"Bitcoin Price Consolidates Below Resistance, Are Dips Still Supported?","url":"http:\/\/uniquehot.com\/news\/bitcoin-price-consolidates-52500\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-price-consolidates-52500\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/05\/Depositphotos_179514440_s-2019.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/05\/Depositphotos_179514440_s-2019.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","bitcoin price","btcusd","btcusdt","xbtusd"],"dateCreated":"2024-02-20T02:52:38Z","datePublished":"2024-02-20T02:52:38Z","dateModified":"2024-06-11T09:29:44Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Consolidates Below Resistance, Are Dips Still Supported?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-consolidates-52500\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-consolidates-52500\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/Depositphotos_179514440_s-2019.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/Depositphotos_179514440_s-2019.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\",\"bitcoin price\",\"btcusd\",\"btcusdt\",\"xbtusd\"],\"dateCreated\":\"2024-02-20T02:52:38Z\",\"datePublished\":\"2024-02-20T02:52:38Z\",\"dateModified\":\"2024-06-11T09:29:44Z\"}<\/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\/05\/Depositphotos_179514440_s-2019.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/575920"}],"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=575920"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/575920\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/463396"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=575920"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=575920"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=575920"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}