Bitcoin Price Analysis: BTC Rallies Toward $53K, Eyes More Upsides

• Bitcoin value begun a solid enhance higher than the $50,000 zone versus the US Greenback.
• The selling price is now investing above $50,500 and the 55 simple going common (4 hours).
• There is a critical bullish craze line forming with guidance at $51,400 on the 4-hour chart of the BTC/USD pair (knowledge feed from Coinbase).
• The pair could continue to increase if it stays previously mentioned the $51,000 aid zone.

Bitcoin price tag is exhibiting optimistic signals previously mentioned $50,000 in opposition to the US Dollar. BTC may possibly appropriate decreased, but dips could be limited down below the $51,000 zone.

Bitcoin Value Examination

Bitcoin price tag started out a potent enhance earlier mentioned the $48,500 resistance zone. The cost remained steady over the $50,000 level and traded in a beneficial zone.

There was a very clear go over the $51,200 level and the 55 easy relocating common (4 hrs). The selling price even rallied previously mentioned the $52,000 resistance zone. Nevertheless, the cost appears to be battling near the $53,000 zone. A large was shaped in the vicinity of $52,890 and the value is now consolidating gains.

The price traded below $52,000 but it is still earlier mentioned the 23.6% Fib retracement amount of the upward move from the $46,889 swing minimal to the $52,890 higher.

Bitcoin is now investing previously mentioned $51,200 and the 55 uncomplicated moving common (4 hours). Fast resistance on the upside is in close proximity to the $52,500 degree. The 1st significant resistance is near the $53,000 degree, previously mentioned which the cost could increase towards the $55,000 zone.

Any much more gains could possibly mail the selling price towards the $56,500 zone. If there is no upside crack, the rate could possibly start a downside correction under $51,500. There is also a key bullish pattern line forming with help at $51,400 on the 4-hour chart of the BTC/USD pair.

The upcoming critical assist is in close proximity to the $50,000 amount or the 50% Fib retracement degree of the upward transfer from the $46,889 swing minimal to the $52,890 large. Any far more losses could possibly simply call for a transfer towards the $48,300 level.

Bitcoin Selling price

Seeking at the chart, Bitcoin value is investing earlier mentioned $50,000 and the 55 simple moving regular (4 several hours). Total, the rate could keep on to rise if it stays earlier mentioned the $51,000 help zone.

Technological Indicators

4 hours MACD – The MACD is now attaining momentum in the bullish zone.

4 hrs RSI (Relative Power Index) – The RSI is now earlier mentioned the 50 degree.

Important Assistance Concentrations – $51,500 and $50,000.

Critical Resistance Amounts – $52,500, $53,000, and $55,000.