{"id":36162,"date":"2024-02-16T03:53:27","date_gmt":"2024-02-16T07:53:27","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=36162"},"modified":"2024-02-16T03:53:27","modified_gmt":"2024-02-16T07:53:27","slug":"bitcoin-price-hold-strong-at-52k-indicators-show-signs-of-more-upsides","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2024\/02\/16\/bitcoin-price-hold-strong-at-52k-indicators-show-signs-of-more-upsides\/","title":{"rendered":"Bitcoin Price Hold Strong At $52K: Indicators Show Signs of More Upsides"},"content":{"rendered":"

Bitcoin price is holding gains above the $52,000 resistance. BTC is consolidating gains and might aim for more upsides toward the $55,000 resistance.<\/em><\/p>\n

Bitcoin price is showing positive signs below the $52,800 resistance zone.
\nThe price is trading above $51,500 and the 100 hourly Simple moving average.
\nThere is a connecting bullish trend line forming with support at $51,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could continue to move up if it clears the $52,800 resistance zone.<\/p>\n

Bitcoin Price Eyes More Upsides<\/h2>\n

Bitcoin price gained pace above the $51,200 resistance zone. BTC even broke the $52,000 resistance zone<\/a>. A new multi-week high was formed near $52,843 and the price is now consolidating gains.<\/p>\n

There was a minor decline below the $52,000 level. The price dipped below the 23.6% Fib retracement level of the upward move from the $48,240 swing low to the $52,843 high. However, the bulls were active above the $51,200 support zone.<\/p>\n

Bitcoin is now trading above $51,500 and the 100 hourly Simple moving average<\/a>. There is also a connecting bullish trend line forming with support at $51,500 on the hourly chart of the BTC\/USD pair.<\/p>\n

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

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

Immediate resistance is near the $52,500 level. The next key resistance could be $52,800, above which the price could extend its rally. The next stop for the bulls may perhaps be $53,200. A clear move above the $53,200 resistance could send the price toward the $54,000 resistance. The next resistance could be near the $55,000 level.<\/p>\n

Are Dips Supported In BTC?<\/h2>\n

If Bitcoin fails to rise above the $52,800 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 trend line.<\/p>\n

The first major support is $50,550 and the 50% Fib retracement level of the upward move from the $48,240 swing low to the $52,843 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 $48,500 support zone.<\/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 $51,500, followed by $50,500.<\/p>\n

Major Resistance Levels \u2013 $52,500, $52,800, and $54,000.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price is holding gains above the $52,000 resistance. BTC is consolidating gains and might aim for more upsides toward the $55,000 resistance.<\/em><\/p>\n

Bitcoin price is showing positive signs below the $52,800 resistance zone.
\nThe price is trading above $51,500 and the 100 hourly Simple moving average.
\nThere is a connecting bullish trend line forming with support at $51,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could continue to move up if it clears the $52,800 resistance zone.<\/p>\n

Bitcoin Price Eyes More Upsides<\/h2>\n

Bitcoin price gained pace above the $51,200 resistance zone. BTC even broke the $52,000 resistance zone<\/a>. A new multi-week high was formed near $52,843 and the price is now consolidating gains.<\/p>\n

There was a minor decline below the $52,000 level. The price dipped below the 23.6% Fib retracement level of the upward move from the $48,240 swing low to the $52,843 high. However, the bulls were active above the $51,200 support zone.<\/p>\n

Bitcoin is now trading above $51,500 and the 100 hourly Simple moving average<\/a>. There is also a connecting bullish trend line forming with support at $51,500 on the hourly chart of the BTC\/USD pair.<\/p>\n

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

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

Immediate resistance is near the $52,500 level. The next key resistance could be $52,800, above which the price could extend its rally. The next stop for the bulls may perhaps be $53,200. A clear move above the $53,200 resistance could send the price toward the $54,000 resistance. The next resistance could be near the $55,000 level.<\/p>\n

Are Dips Supported In BTC?<\/h2>\n

If Bitcoin fails to rise above the $52,800 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 trend line.<\/p>\n

The first major support is $50,550 and the 50% Fib retracement level of the upward move from the $48,240 swing low to the $52,843 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 $48,500 support zone.<\/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 $51,500, followed by $50,500.<\/p>\n

Major Resistance Levels \u2013 $52,500, $52,800, and $54,000.<\/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-36162","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\/36162","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=36162"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/36162\/revisions"}],"predecessor-version":[{"id":36173,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/36162\/revisions\/36173"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=36162"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=36162"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=36162"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}