100usdwin Ad
TA: Bitcoin Claims $50K, Why BTC Could Continue Higher To $52K

TA: Bitcoin Claims $50K, Why BTC Could Continue Higher To $52K

Bitcoin price gained bullish momentum and broke the $50,000 resistance against the US Dollar. BTC is holding gains and it seems like it could rise further towards the $52,000 level.

  • Bitcoin broke the $50,000 resistance and traded to a new all-time high near $50,600.
  • The price is trading nicely near $50,000 and it is well above the 100 hourly simple moving average.
  • There was a break above a key contracting triangle with resistance near $49,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair is likely to continue higher towards $52,000 as long as it is above the $48,000 support.

Bitcoin Price is Extending Gains

Finally, bitcoin price was able to clear the $50,000 resistance zone. BTC climbed above the $50,200 and $50,500 levels. It traded to a new all-time high at $50,600 before correcting lower.

There was a sharp correction below the $50,000 level. The price even spiked below the $49,000 support level. However, the bulls were active near the $48,000 zone and the 100 hourly simple moving average. A low is formed near $47,819 and the price is currently rising.

Read the full article at newsbtc.com

Get involved!

0 Comments

No comments yet

DISCLAIMER: All banners and links here are advertisements only. We do not endorse or vouch for any advertisers. Some programs may be illegal depending on your country's laws. Paying status and others status is just for our monitor. We don't give practice, all investments decisions are up to you.

Please bear in mind that all HYIPs and Autosurfs investments presuppose high risks.You've been warned about the hazards .We don't incur a liability for the money you may lose on any site listing here. We don't recommend you spend what you cannot afford to lose.