{"id":36439,"date":"2024-02-26T03:52:37","date_gmt":"2024-02-26T07:52:37","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=36439"},"modified":"2024-02-26T03:52:37","modified_gmt":"2024-02-26T07:52:37","slug":"bitcoin-price-stuck-in-range-while-eth-surges-more-downsides-ahead","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2024\/02\/26\/bitcoin-price-stuck-in-range-while-eth-surges-more-downsides-ahead\/","title":{"rendered":"Bitcoin Price Stuck In Range While ETH Surges, More Downsides Ahead?"},"content":{"rendered":"

Bitcoin price is struggling to clear the $52,000 resistance. BTC could start a decent downside correction if it breaks the $50,500 support zone.<\/em><\/p>\n

Bitcoin price is still struggling to clear the $52,000 resistance zone.
\nThe price is trading below $51,600 and the 100 hourly Simple moving average.
\nThere was a break below a connecting bullish trend line with support at $51,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could extend its current decline and revisit the $50,500 support.<\/p>\n

Bitcoin Price Faces Resistance At $52K<\/h2>\n

Bitcoin price retested the $50,500 support zone<\/a> and even spiked toward $50,400. However, the bulls were active near the $50,450. A low was formed at $50,456 and the price recovered above $51,200.<\/p>\n

The bears are now protecting an upside break above the $52,000 resistance zone<\/a>. A high is formed at $51,936 and the price is now moving lower. There was a break below a connecting bullish trend line with support at $51,500 on the hourly chart of the BTC\/USD pair.<\/p>\n

There was a break below the 23.6% Fib retracement level of the upward move from the $50,456 swing low to the $51,936 high. Bitcoin is now trading below $51,600 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 $51,600 level. The next key resistance could be $52,000, above which the price could rise toward the $52,500 resistance zone. The main resistance is now near the $53,000 level. A clear move above the $53,000 resistance could send the price toward the $53,500 resistance. The next resistance could be near the $54,200 level.<\/p>\n

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

If Bitcoin fails to rise above the $51,600 resistance zone, it could start another decline in the near term. Immediate support on the downside is near the $51,300 level and the 100 hourly SMA.<\/p>\n

The first major support is $51,100 or the 50% Fib retracement level of the upward move from the $50,456 swing low to the $51,936 high. If there is a close below $51,100, the price could start a decent pullback. In the stated case, the price could decline toward the $50,500 support zone, below which the price might even test $50,000.<\/p>\n

Technical indicators:<\/p>\n

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

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

Major Support Levels \u2013 $51,100, followed by $50,500.<\/p>\n

Major Resistance Levels \u2013 $51,600, $51,800, and $52,000.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price is struggling to clear the $52,000 resistance. BTC could start a decent downside correction if it breaks the $50,500 support zone.<\/em><\/p>\n

Bitcoin price is still struggling to clear the $52,000 resistance zone.
\nThe price is trading below $51,600 and the 100 hourly Simple moving average.
\nThere was a break below a connecting bullish trend line with support at $51,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could extend its current decline and revisit the $50,500 support.<\/p>\n

Bitcoin Price Faces Resistance At $52K<\/h2>\n

Bitcoin price retested the $50,500 support zone<\/a> and even spiked toward $50,400. However, the bulls were active near the $50,450. A low was formed at $50,456 and the price recovered above $51,200.<\/p>\n

The bears are now protecting an upside break above the $52,000 resistance zone<\/a>. A high is formed at $51,936 and the price is now moving lower. There was a break below a connecting bullish trend line with support at $51,500 on the hourly chart of the BTC\/USD pair.<\/p>\n

There was a break below the 23.6% Fib retracement level of the upward move from the $50,456 swing low to the $51,936 high. Bitcoin is now trading below $51,600 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 $51,600 level. The next key resistance could be $52,000, above which the price could rise toward the $52,500 resistance zone. The main resistance is now near the $53,000 level. A clear move above the $53,000 resistance could send the price toward the $53,500 resistance. The next resistance could be near the $54,200 level.<\/p>\n

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

If Bitcoin fails to rise above the $51,600 resistance zone, it could start another decline in the near term. Immediate support on the downside is near the $51,300 level and the 100 hourly SMA.<\/p>\n

The first major support is $51,100 or the 50% Fib retracement level of the upward move from the $50,456 swing low to the $51,936 high. If there is a close below $51,100, the price could start a decent pullback. In the stated case, the price could decline toward the $50,500 support zone, below which the price might even test $50,000.<\/p>\n

Technical indicators:<\/p>\n

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

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

Major Support Levels \u2013 $51,100, followed by $50,500.<\/p>\n

Major Resistance Levels \u2013 $51,600, $51,800, and $52,000.<\/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-36439","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\/36439","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=36439"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/36439\/revisions"}],"predecessor-version":[{"id":36442,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/36439\/revisions\/36442"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=36439"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=36439"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=36439"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}