Bitcoin Price Sits In Range With Sharp Moves, $50K Is The Key

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,511,640,469,033	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,511,640,469,033

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	627.30	0.83%	76,527.30	76,527.29	76,527.30

Price Change

Price Change %

Current Price

Bid Price

Offer

627.30

0.83%

76,527.30

76,527.29

76,527.30

High Price	Low Price	Open Price	Prev. Close	52 Week Range
77,312.18	75,654.26	75,968.61	75,900.00	34,758.64 - 76,999.00

High Price

Low Price

Open Price

Prev. Close

52 Week Range

77,312.18

75,654.26

75,968.61

75,900.00

34,758.64 - 76,999.00

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	23:23:28	0.003230	76,530.74	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

23:23:28

0.003230

76,530.74

USD

Price x Volume	Volume	Base Symbol	Related Pairs
1,631,588,013.26	21,346.78	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

1,631,588,013.26

21,346.78

Bitcoin Price Sits In Range With Sharp Moves, $50K Is The Key

21/02/2024 3:07am

NEWSBTC

Bitcoin price spiked toward the $53,200 resistance. BTC is trading in a major range and still holding gains above the $50,000 support zone. Bitcoin price is struggling to clear the $52,500 resistance zone. The price is trading below $52,400 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with resistance at $52,300 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could dip toward the $51,600 support before it attempts a fresh increase. Bitcoin Price Holds Ground Bitcoin price made another attempt to gain strength above the $52,200 resistance zone. BTC broke the $52,500 level and even spiked above $52,800. However, the bears were active near the $53,000 level. A new multi-week high was formed near $52,991 and the price dived toward $50,500. A low was formed at $50,663 and the price is now attempting a fresh increase. There was a move above the $51,600 level. The price climbed above the 50% Fib retracement level of the downward move from the $52,991 swing high to the $50,663 low. Bitcoin is now trading below $52,400 and the 100 hourly Simple moving average. There is also a connecting bearish trend line forming with resistance at $52,300 on the hourly chart of the BTC/USD pair. Immediate resistance is near the $52,200 level. The next key resistance could be $52,400 or the trend line or the 76.4% Fib retracement level of the downward move from the $52,991 swing high to the $50,663 low, above which the price could rise toward the $52,800 resistance zone. Source: BTCUSD on TradingView.com 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. Another Drop In BTC? If Bitcoin fails to rise above the $52,400 resistance zone, it could start another decline in the near term. Immediate support on the downside is near the $51,600 level. The first major support is $51,200. If there is a close below $51,200, the price could gain bearish momentum. In the stated case, the price could decline toward the $50,500 support zone, below which the price might turn bearish in the short term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $51,600, followed by $51,200. Major Resistance Levels – $52,200, $52,400, and $52,800.

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