• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
Breaking News: Dogecoin (DOGE) Soars 8%, But An Uptick In This Metric Suggests A Pullback
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Dogecoin (DOGE) Soars 8%, But An Uptick In This Metric Suggests A Pullback
Bitcoin

TA: Bitcoin Tops At $52K, What Could Trigger A Sharp Move To $47K

Aayush Jindal by Aayush Jindal
1 year ago
in BTC
Reading Time: 2 mins read
Advertisement

Bitcoin failed to clear the $52,000 resistance zone against the US Dollar. BTC is started a major decline and traded below the $50,000 support.

  • Bitcoin made two attempts to clear the $51,800-$52,000 resistance zone but failed.
  • The price is trading below $50,000 and the 100 hourly simple moving average.
  • There was a break below a key bullish trend line with support near $51,200 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair is declining and could even dive below the $49,500 support zone in the near term.

Bitcoin Price Forms Bearish Pattern

Bitcoin price made another attempt to clear the $51,800 resistance zone. BTC spiked towards the $52,000 zone, where the bears took a stand. It seems like there is a double top pattern forming near $52,000.

A high was formed near $52,111 and the price started a fresh decline. There was a break below the $51,200 and $50,500 support levels. There was also a break below a key bullish trend line with support near $51,200 on the hourly chart of the BTC/USD pair.

Get 30 FREE SPINS at Punt Casino - NO DEPOSIT REQUIRED! Start Playing Now.
No Deposit 40 FREE SPINS at Wild.io on SIGN UP. Wheel of fortune, daily bonuses, 10 BTC in prizes monthly! Start Playing Now!

The pair traded below the 50% Fib retracement level of the upward move from the $49,477 swing low to $52,111 high. Bitcoin is now trading below $50,000 and the 100 hourly simple moving average.

It is also trading below the 76.4% Fib retracement level of the upward move from the $49,477 swing low to $52,111 high. An immediate support is near the $49,500 zone. The first major support is near $49,000.

Bitcoin Price

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Source: BTCUSD on TradingView.com

A downside break below the $49,000 level could push the price towards the $48,800 support. Any more losses may possibly push the price towards the $47,500 support zone.

Recovery In BTC?

If bitcoin manages to stay above the $49,500 support zone, it could start a decent increase. An immediate resistance on the upside is near the $50,000 level.

The next key resistance could be $50,800 and the 100 hourly SMA. A clear move above the $50,800 resistance zone could start a fresh increase. The next major stop for the bulls may possibly be near the $51,800 level.

Technical indicators:

Hourly MACD – The MACD is slowly gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is well below the 50 level.

Major Support Levels – $49,500, followed by $47,500.

Major Resistance Levels – $50,000, $50,800 and $51,800.

Tags: bitcoinbtcusdBTCUSDTxbtusd
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Aayush Jindal

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies and Financial Market Strategist with a background in IT and financial markets. He specialises in market strategies and technical analysis, and has spent over a DECADE as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin and Ethereum markets.

Related Posts

Bitcoin

Bitcoin Price Holds Key Support But The Bulls Seem To Be Losing Steam

1 day ago
Bitcoin Altcoins FTX

Bitcoin Price Resumes Increase as The Bulls Aim Larger Rally To $25K

2 days ago
Bitcoin

Bitcoin Price Just Saw Technical Correction But Key Uptrend Support Intact

3 days ago
Bitcoin

Bitcoin Price Gearing For Another Lift-Off and Might Surge To $25K

4 days ago
bitcoin bull RSI

Bitcoin Weekly RSI Reaches Line Between Bear & Bull Market

4 days ago
bitcoin price bull

Crypto Analyst Says Bitcoin Price Could See Another 30% Rally

5 days ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
Metaspins

Metaspins

Review · Visit
Coinplay

Coinplay

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

The Meta Masters Guild Presale Generates $1.5 Million So Far With Price Hike of 23% in Next 48 Hours.

January 27, 2023

Top Experts Compare Treshold (T), BNB (BNB), and Snowfall Protocol (SNW) and Decide Which Is The Best – Find Out More!

January 27, 2023

PancakeSwap To Do a V3 Upgrade In 2023 According to Roadmap Update, Kava Gets Coinbase Listing, Snowfall Protocol Releases the Long-Awaited Snowfall DEX And Promises Another Huge Announcement A Week Before Launch— Is Snowfall Wallet Coming Early Too?

January 27, 2023

Litecoin (LTC) and Polygon (MATIC) Have Been Renowned IN The Past But It’s Time For A New Crypto Project To Take The Top Ranks: Snowfall Protocol (SNW)

January 27, 2023

Binance Coin (BNB) And Orbeon Protocol (ORBN) Speculated To Make Huge Gains In 2023

January 27, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.