{"id":36086,"date":"2024-02-14T03:56:43","date_gmt":"2024-02-14T07:56:43","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=36086"},"modified":"2024-02-14T03:56:43","modified_gmt":"2024-02-14T07:56:43","slug":"bitcoin-price-holds-support-btc-uptrend-to-continue-soon","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2024\/02\/14\/bitcoin-price-holds-support-btc-uptrend-to-continue-soon\/","title":{"rendered":"Bitcoin Price Holds Support, BTC Uptrend To Continue Soon?"},"content":{"rendered":"

Bitcoin price started a downside correction from the $50,400 zone. BTC tested $48,250 and is currently attempting a fresh increase above $50,000.<\/em><\/p>\n

Bitcoin price is holding gains above the $48,250 and $48,500 support levels.
\nThe price is trading above $48,850 and the 100 hourly Simple moving average.
\nThere is a key bullish trend line forming with support at $48,750 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could continue to move up if it clears the $50,000 resistance zone.<\/p>\n

Bitcoin Price Remains Supported<\/h2>\n

Bitcoin price gained pace above the $48,800 resistance zone. BTC even spiked above the $50,000 resistance zone<\/a> before the bears appeared. A new multi-week high was formed near $50,339 before the price corrected lower.<\/p>\n

There was a move below the $49,500 and $49,200 levels. The price even dived below $49,000, but the bulls were active above the $48,250 support. A low was formed near $48,240 and the price is now moving higher. There was a move above the $48,800 zone.<\/p>\n

Bitcoin cleared the 50% Fib retracement level of the recent decline from the $50,390 swing high to the $48,240 low. It is now trading above $48,850 and the 100 hourly Simple moving average<\/a>.<\/p>\n

There is also a key bullish trend line forming with support at $48,750 on the hourly chart of the BTC\/USD pair. Immediate resistance is near the $49,880 level or the 76.4% Fib retracement level of the recent decline from the $50,390 swing high to the $48,240 low.<\/p>\n

<\/a><\/p>\n

Source: BTCUSD on TradingView.com<\/a><\/p>\n

The next key resistance could be $50,000, above which the price could start another decent increase. The next stop for the bulls may perhaps be $50,400. A clear move above the $50,400 resistance could send the price toward the $51,200 resistance. The next resistance could be near the $52,000 level.<\/p>\n

Another Decline In BTC?<\/h2>\n

If Bitcoin fails to rise above the $50,000 resistance zone, it could start another downside correction. Immediate support on the downside is near the $49,200 level.<\/p>\n

The first major support is $48,800 and the trend line. If there is a close below $48,800, the price could gain bearish momentum. In the stated case, the price could dive toward the $47,800 support.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone.<\/p>\n

Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n

Major Support Levels \u2013 $49,000, followed by $48,750.<\/p>\n

Major Resistance Levels \u2013 $50,000, $50,400, and $51,200.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price started a downside correction from the $50,400 zone. BTC tested $48,250 and is currently attempting a fresh increase above $50,000.<\/em><\/p>\n

Bitcoin price is holding gains above the $48,250 and $48,500 support levels.
\nThe price is trading above $48,850 and the 100 hourly Simple moving average.
\nThere is a key bullish trend line forming with support at $48,750 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could continue to move up if it clears the $50,000 resistance zone.<\/p>\n

Bitcoin Price Remains Supported<\/h2>\n

Bitcoin price gained pace above the $48,800 resistance zone. BTC even spiked above the $50,000 resistance zone<\/a> before the bears appeared. A new multi-week high was formed near $50,339 before the price corrected lower.<\/p>\n

There was a move below the $49,500 and $49,200 levels. The price even dived below $49,000, but the bulls were active above the $48,250 support. A low was formed near $48,240 and the price is now moving higher. There was a move above the $48,800 zone.<\/p>\n

Bitcoin cleared the 50% Fib retracement level of the recent decline from the $50,390 swing high to the $48,240 low. It is now trading above $48,850 and the 100 hourly Simple moving average<\/a>.<\/p>\n

There is also a key bullish trend line forming with support at $48,750 on the hourly chart of the BTC\/USD pair. Immediate resistance is near the $49,880 level or the 76.4% Fib retracement level of the recent decline from the $50,390 swing high to the $48,240 low.<\/p>\n

<\/a><\/p>\n

Source: BTCUSD on TradingView.com<\/a><\/p>\n

The next key resistance could be $50,000, above which the price could start another decent increase. The next stop for the bulls may perhaps be $50,400. A clear move above the $50,400 resistance could send the price toward the $51,200 resistance. The next resistance could be near the $52,000 level.<\/p>\n

Another Decline In BTC?<\/h2>\n

If Bitcoin fails to rise above the $50,000 resistance zone, it could start another downside correction. Immediate support on the downside is near the $49,200 level.<\/p>\n

The first major support is $48,800 and the trend line. If there is a close below $48,800, the price could gain bearish momentum. In the stated case, the price could dive toward the $47,800 support.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone.<\/p>\n

Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n

Major Support Levels \u2013 $49,000, followed by $48,750.<\/p>\n

Major Resistance Levels \u2013 $50,000, $50,400, and $51,200.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-36086","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/36086","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=36086"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/36086\/revisions"}],"predecessor-version":[{"id":36095,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/36086\/revisions\/36095"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=36086"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=36086"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=36086"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}