{"id":36226,"date":"2024-02-19T03:53:29","date_gmt":"2024-02-19T07:53:29","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=36226"},"modified":"2024-02-19T03:53:29","modified_gmt":"2024-02-19T07:53:29","slug":"bitcoin-price-rally-in-jeopardy-decoding-key-hurdles-to-more-upsides","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2024\/02\/19\/bitcoin-price-rally-in-jeopardy-decoding-key-hurdles-to-more-upsides\/","title":{"rendered":"Bitcoin Price Rally In Jeopardy? Decoding Key Hurdles To More Upsides"},"content":{"rendered":"

Bitcoin price is attempting a fresh increase above the $52,000 resistance. BTC must clear the $52,800 resistance to continue higher in the near term.<\/em><\/p>\n

Bitcoin price is gaining pace above the $52,800 resistance zone.
\nThe price is trading above $52,000 and the 100 hourly Simple moving average.
\nThere was a break above a key bearish trend line with resistance at $51,880 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 Gains<\/h2>\n

Bitcoin price started a downside correction from the $52,800 resistance zone<\/a>. BTC corrected lower below the $52,000 and $51,500 levels. However, the bulls were active above the $50,500 zone.<\/p>\n

A low was formed near $50,581 and the price is now attempting a fresh increase<\/a>. There was a move above the $51,200 and $51,500 resistance levels. The price cleared the 50% Fib retracement level of the downward move from the $52,843 swing high to the $50,581 low.<\/p>\n

Besides, there was a break above a key bearish trend line with resistance at $51,880 on the hourly chart of the BTC\/USD pair. Bitcoin is now trading above $52,000 and the 100 hourly Simple moving average.<\/p>\n

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

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

Immediate resistance is near the $52,300 level. It is near the 76.4% Fib retracement level of the downward move from the $52,843 swing high to the $50,581 low. 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

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

If Bitcoin fails to rise above the $52,300 resistance zone, it could start another downside correction in the near term. Immediate support on the downside is near the $51,850 level and the trend line.<\/p>\n

The first major support is $51,300. If there is a close below $51,300, the price could gain bearish momentum. In the stated case, the price could decline toward the $50,500 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 $51,850, followed by $51,300.<\/p>\n

Major Resistance Levels \u2013 $52,300, $52,800, and $54,000.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price is attempting a fresh increase above the $52,000 resistance. BTC must clear the $52,800 resistance to continue higher in the near term.<\/em><\/p>\n

Bitcoin price is gaining pace above the $52,800 resistance zone.
\nThe price is trading above $52,000 and the 100 hourly Simple moving average.
\nThere was a break above a key bearish trend line with resistance at $51,880 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 Gains<\/h2>\n

Bitcoin price started a downside correction from the $52,800 resistance zone<\/a>. BTC corrected lower below the $52,000 and $51,500 levels. However, the bulls were active above the $50,500 zone.<\/p>\n

A low was formed near $50,581 and the price is now attempting a fresh increase<\/a>. There was a move above the $51,200 and $51,500 resistance levels. The price cleared the 50% Fib retracement level of the downward move from the $52,843 swing high to the $50,581 low.<\/p>\n

Besides, there was a break above a key bearish trend line with resistance at $51,880 on the hourly chart of the BTC\/USD pair. Bitcoin is now trading above $52,000 and the 100 hourly Simple moving average.<\/p>\n

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

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

Immediate resistance is near the $52,300 level. It is near the 76.4% Fib retracement level of the downward move from the $52,843 swing high to the $50,581 low. 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

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

If Bitcoin fails to rise above the $52,300 resistance zone, it could start another downside correction in the near term. Immediate support on the downside is near the $51,850 level and the trend line.<\/p>\n

The first major support is $51,300. If there is a close below $51,300, the price could gain bearish momentum. In the stated case, the price could decline toward the $50,500 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 $51,850, followed by $51,300.<\/p>\n

Major Resistance Levels \u2013 $52,300, $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-36226","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\/36226","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=36226"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/36226\/revisions"}],"predecessor-version":[{"id":36229,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/36226\/revisions\/36229"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=36226"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=36226"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=36226"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}