TA: Bitcoin Reclaims $50K, Why 100 SMA Is The Key For Larger Increase

2021-12-7 06:08

Bitcoin is recovering and trading above $50,000 against the US Dollar. ETH must settle above $51,000 and the 100 hourly SMA to continue higher.

Bitcoin started a recovery wave above the key $50,000 resistance zone. The price is now trading near $51,000 and the 100 hourly simple moving average. There is a short-term bullish trend line forming with support near $49,600 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a decent upward move if there is a close above $51,000. Bitcoin Price Gains Momentum

Bitcoin price started a decent recovery wave after a major decline below $45,000. BTC climbed back above the $46,500 and $48,000 resistance levels to start the recent recovery.

The price is back above the $49,200 resistance level. There as a break above the 50% Fib retracement level of the key decline from the $57,690 swing high to $40,150 low. Besides, the bulls were able to push the price above the key $50,000 resistance zone.

There is also a short-term bullish trend line forming with support near $49,600 on the hourly chart of the BTC/USD pair. The pair is now trading near $51,000 and the 100 hourly simple moving average.

An immediate resistance on the upside is near the $51,000 level and the 100 hourly SMA. It is close to the 61.8% Fib retracement level of the key decline from the $57,690 swing high to $40,150 low. A clear break above the $51,000 resistance zone could open the doors for more upsides.

The next key resistance is near the $52,500 level, above which the price could accelerate higher. In the stated case, the price could rise towards the $53,500 level.

Fresh Decline In BTC?

If bitcoin fails to clear the $51,000 resistance zone, it could start a fresh downside correction. An immediate support on the downside is near the $50,200 level.

The first major support is now forming near the $49,600 level and the trend line. A downside break below the $49,600 support may perhaps start a fresh decline. The next stop for the bears might be $46,000.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently above the 50 level.

Major Support Levels – $50,200, followed by $49,600.

Major Resistance Levels – $51,000, $52,500 and $53,500.

origin »

Bitcoin (BTC) на Currencies.ru

$ 93843 (+0.03%)
Объем 24H $49.892b
Изменеия 24h: -0.28 %, 7d: -4.41 %
Cегодня L: $91951.2 - H: $95752.95
Капитализация $1858.451b Rank 1
Цена в час новости $ 51092.12 (83.67%)

above bitcoin key sma 100 hourly settle

Источник: newsbtc.com

above bitcoin → Результатов: 126


Bitcoin Dogs price: What’s the outlook as BTC spikes above $68k?

Bitcoin Dogs rose 30% in two weeks before paring gains. Bitcoin price is back above $68,000 after last week’s slip halted bulls’ momentum. With BTC regaining control above $68k, could this spark Bitcoin Dogs price? New upside momentum has pushed Bitcoin (BTC) above $68,500 following last week’s sharp decline that saw bears reject movement above […] The post Bitcoin Dogs price: What’s the outlook as BTC spikes above $68k? appeared first on CoinJournal.

2024-10-29 14:05


Фото:

Bitcoin’s climb above $60k causes futures open interest to surge $2B in a day

Bitcoin’s breakout above $60,000 seems to have triggered a new spark of optimism among traders. The market has been flat for most of August after experiencing a significant drop at the beginning of the month, which is why the relatively slight price increase above the $60,000 threshold was enough to inject the market with a […] The post Bitcoin’s climb above $60k causes futures open interest to surge $2B in a day appeared first on CryptoSlate.

2024-8-23 05:00


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Price Under Pressure: Could The Slide Continue?

Bitcoin price extended losses and traded below the $100,000 zone. BTC is showing bearish signs and might continue to move down toward the $91,200 support zone. Bitcoin started a fresh decline from the $100,000 resistance zone.

Bitcoin Decline Continues: Are Bulls Losing Control?

Bitcoin price extended losses and traded below the $100,000 zone. BTC is struggling and might continue to move down toward the $92,000 support zone. Bitcoin started a fresh decline from the $102,000 resistance zone.

Bitcoin Price Struggles at $100K: Is The Rally Losing Steam?

Bitcoin price struggled to clear the $102,000 resistance zone. BTC is correcting gains and might test the $97,500 support zone. Bitcoin started a downside correction from the $102,000 zone. The price is trading above $98,000 and the 100 hourly Simple moving average.