Bitcoin Price Analysis

Bitcoin price analysis; Where is the support and resistance ahead?


The price of Bitcoin crossed the $ 50,000 psychological resistance barrier, which experts say is likely to improve and reach below this level again.

to the Report In recent days, Bitcoin has managed to cross the $ 50,000 resistance level, crossing the $ 100,000 mark, reaching above the 100-hour moving average.

At the moment, buyers are still very active in the market, raising the price of Bitcoin above $ 51,000 in the past few hours, and at some point even trying to cross the $ 52,000 mark. During the recent jump, Bitcoin peaked at $ 51,888. Bitcoin fluctuates in the range of $ 51,500 at the time of writing.

$ 50,800 is the first support for the Bitcoin price. The level is near Fibonacci 23.6%, which jumped from $ 46,895 to $ 5,888 in the recent jump. On the other hand, an uptrend line is formed on the daily chart, which is supported by close to $ 49,500.

Bitcoin price chart
Bitcoin price chart

If the conditions are prepared for further ascent, we will see resistance in the range of $ 51,500. $ 52,000 is the main resistance of Bitcoin price, and crossing it can be a spark for more leaps. $ 53,200 also acts as the next bitcoin resistance. If this resistance is broken, it can be expected to grow up to $ 55,000.

Bitcoin’s failure to cross the $ 52,000 mark could improve the market. In that case, $ 50,800 would be the first support.

$ 50,000 is the most important support in the correction process, after which the trend line will act as support. This level is close to the 50% Fibonacci level created in the recent jump. Breaking the trend line could lead to a drop to $ 49,000 and a simple 100-hour moving average.

The MACD is currently losing ground in the uptrend range, and the Relative Strength Index (RSI) is well above the 50 level.

$ 50,800 and $ 50,000 are the most important bitcoin price supports, respectively, and 51,500, 52,000 and 53,200 are the most significant bitcoin resistance.

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