Bitcoin indicator turns green and the possibility of breaking it to 50 thousand dollars soon!

Price started Bitcoin high above 45 thousand The dollar against the US dollar, now facing resistance near 50 thousand dollars, but it may continue to rise.

and gained Bitcoin The pace is higher than the resistance levels 45500 And 47500 dollars, and the price is now trading above 47 one thousand dollars and the simple moving average for each 100 hour.

While there is a major ascending trend line, it is forming with support approaching 47 thousand Dollars on the hourly chart, for a pair BTC/USD (data feed from Cracking).

The pair could also correct lower, but the bulls may remain active near 47 one thousand or 46500 dollar.

Bitcoin price rises

price started Bitcoin In a strong increase above the extreme resistance level 45 thousand dollar. where I broke Bitcoin BTC resistance level 46500 dollars, and settled above the simple moving average per 100 hour.

The bull market has gained strength, pushing the price above the resistance to 47500 dollars, even a level was breached 48800 dollars, and was traded at a high level of 49257 dollar.

Also, the price is now correcting lower, and is trading below 48500 USD, while there is immediate support on the downside near the . level 47500 dollar.

. is traded Bitcoin Now above correction level Fibonacci b 23.6% of last rise in 40890 US dollar, swing Low to me 49257 American dollar.

There is also a major ascending trend line forming with support approaching 47 thousand Dollars on the hourly chart, for a pair BTC/USD.

On the upside, there is immediate resistance near the . level 48 thousand USD, where the first major resistance is located near the . level 48500 dollars, and when the price is exceeded, it can be reconsidered 49250 dollar.

On the other hand, the next major resistance is located near the . level 50 thousand Dollars, where a close above the level of 50 thousand dollar to a significant increase soon, and the price may rise towards a level 52 thousand dollars in the short term.

Support dips in bitcoin

If you fail Bitcoin beyond the area of ​​extreme resistance 48500 Dollars, it may start a new downside correction. Where there is immediate support on the downside near the level 47500 Dollars, the first major support is now forming near the level of 47250 dollar.

A breakout below trend line support may push the price towards a level 46500 dollar. Also, the simple moving average of each 100 Hour is also approaching the level 46500 dollars for support.

The next major support may be near a correction level Fibonacci b 50%, of the last rise in 40890 US dollar, swing low to 49257 US dollars at 45075 American dollar.

Technical indicators:

Main Support Levels 47250, followed by 46500 dollar.

Key resistance levels 48500 And49250 And50 thousand dollar.