No products in the cart.
Trading Tips
Best trading Tips
Trading Tips
Best trading Tips
TA: Bitcoin Bulls Keeps Pushing, Why Rally Isn’t Over Yet

Bitcoin price extended its increase above $49,000 against the US Dollar. BTC might continue to rally and it could even surpass the $50,000 resistance in the near term.
Bitcoin climbed higher above the $47,500 and $48,500 resistance levels.
The price is now trading above $48,000 and the 100 hourly simple moving average.
There is a major bullish trend line forming with support near $48,400 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could correct lower, but it might find support near $47,400 or $47,000.
Bitcoin Price Remains In Uptrend
Bitcoin price started a strong increase above the $46,500 resistance level. BTC broke the $47,500 resistance level and settled above the 100 hourly simple moving average.
It even climbed above $49,000 before correcting lower. However, downsides were limited below the $46,500 support zone. A low was formed near $46,895 and the price started a fresh increase. It climbed higher above the $47,500 and $48,500 resistance levels.
Bitcoin is now trading above $48,000 and the 100 hourly simple moving average. A high is formed near $49,750 and it is now consolidating gains. Immediate support on the downside is near the $49,000 level.
It is close to the 23.6% Fib retracement level of the recent wave from the $46,895 swing low to $49,750 high. There is also a major bullish trend line forming with support near $48,400 on the hourly chart of the BTC/USD pair.
Source: BTCUSD on TradingView.com
On the upside, immediate resistance is near the $49,600 level. The first major resistance is near the $49,750 level, above which the price could visit $50,000. A close above the $50,000 level could start another increase in the near term. The next major stop for the bulls may possibly be near the $52,000 level.
Dips Limited In BTC?
If bitcoin fails to clear the $50,000 resistance zone, it could start afresh downside correction. Immediate support on the downside is near the $49,000 level.
The first major support is now forming near the $48,400 level and the trend line. It is near the 50% Fib retracement level of the recent wave from the $46,895 swing low to $49,750 high. A break below the trend line support might push the price towards the $47,550 level and the 100 hourly SMA.
Technical indicators:
Hourly MACD – The MACD is now losing pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is well above the 50 levels.
Major Support Levels – $48,400, followed by $47,550.
Major Resistance Levels – $49,500, $50,000 and $52,000.
Get the Best Trading Tips
Get Coupons and Offers from the USA
Archives
- August 2022 (164)
- July 2022 (418)
- June 2022 (416)
- May 2022 (369)
- April 2022 (367)
- March 2022 (505)
- February 2022 (455)
- January 2022 (435)
- December 2021 (428)
- November 2021 (367)
- October 2021 (359)
- September 2021 (357)
- August 2021 (126)
- July 2021 (21)
- June 2021 (19)
- May 2021 (4)
- April 2021 (6)
- March 2021 (23)
- February 2021 (23)
- January 2021 (27)
- August 2020 (1)
- July 2020 (7)
- June 2020 (1)
- April 2020 (2)
Recent Posts
- Top cryptocurrencies likely to rally in the weekTop cryptocurrencies likely to rally in the week
- Money On The Sidelines: Crypto Traders Accumulate Highest Buying Power In Two Years
- Ethereum Open Interest Nears All-Time Highs Ahead Of Merge
- Monero Faces Pressure In Keeping Upward Pace – Will XMR Overcome Resistance?
- TA- Binance Coin Continues To Look Strong Despite Altcoins Shakeout