Rally

Bitcoin

Resistance

Bitcoin price extended its increase above the $52,000 resistance. BTC is consolidating gains and might aim for more upsides toward the $55,000 resistance. 
<ul> 
 <li>Bitcoin price remained in a bullish zone above the $51,000 and $51,200 levels.</li> 
 <li>The price is trading above $51,200 and the 100 hourly Simple moving average.</li> 
 <li>There are two bullish trend lines forming with support at $51,450 and $49,200 on the hourly chart of the BTC/USD pair (data feed from Kraken).</li> 
 <li>The pair could continue to move up if it clears the $52,500 resistance zone.</li> 
</ul> 
<h2 id="bitcoin-price-extends-rally">Bitcoin Price Extends Rally</h2> 
Bitcoin price started a steady increase above the <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-holds-support-48250/" target="_blank" rel="noopener ">$50,000 resistance zone</a>. BTC gained strength above the $50,500 and $51,200 levels. It even spiked above the $52,000 resistance zone. 
A new multi-week high was formed near $52,493 and the price is now consolidating gains. It is holding gains above the 23.6% Fib retracement level of the recent wave from the $48,240 swing low to the $52,493 high. There are also two bullish trend lines forming with support at $51,450 and $49,200 on the hourly chart of the BTC/USD pair. 
Bitcoin is now trading above $51,200 and the <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-revisits-50k/" target="_blank" rel="noopener ">100 hourly Simple moving average</a>. Immediate resistance is near the $52,500 level. The next key resistance could be $53,200, above which the price could extend its rally. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_7c64e4.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-575165" src="https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_7c64e4.png?resize=1024%2C461" alt="Bitcoin Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_7c64e4.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_7c64e4.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_7c64e4.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_7c64e4.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_7c64e4.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_7c64e4.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_7c64e4.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
Source: <a href="https://www.tradingview.com/symbols/BTCUSD/" target="_blank" rel="noopener nofollow">BTCUSD on TradingView.com</a> 
The next stop for the bulls may perhaps be $54,400. A clear move above the $54,400 resistance could send the price toward the $55,000 resistance. The next resistance could be near the $56,500 level. 
<h2 id="downside-correction-in-btc">Downside Correction In BTC?</h2> 
If Bitcoin fails to rise above the $52,500 resistance zone, it could start another downside correction in the near term. Immediate support on the downside is near the $51,500 level and the first trend line. 
The first major support is $50,500 and the 50% Fib retracement level of the recent wave from the $48,240 swing low to the $52,493 high. If there is a close below $50,500, the price could gain bearish momentum. In the stated case, the price could dive toward the $49,200 support and the second trend line. 
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 now above the 50 level. 
Major Support Levels – $51,500, followed by $50,500. 
Major Resistance Levels – $52,500, $53,200, and $54,400.

Will Bitcoin Bulls Be Able to Hit $55K Barrier This Week?

Mục lục

NewsBTC

Các bài viết khác được xuất bản trên 15 thg 2, 2024

Binance (BNB) and Uniswap (UNI) Killer Pullix (PLX) Weeks Away From Launching Revolutionary Hybri...

Google Photos to Introduce Manual Recategorization Feature for Enhanced User Control

Ethereum (ETH) Jumps to Highest Level Since March 2022

TRON Burns 9.9 Million TRX Tokens, Price to $0.5 Next?

Klaytn, Finschia blockchains merge, with new foundation to form in Abu Dhabi

Spanish Telecommunications Giant Telefonica Announced A Partnership With This Altcoin!

Tham gia bản tin miễn phí của chúng tôi để cập nhật tin tức về tiền điện tử hàng ngày!