Bitcoin Price Analysis: BTC bulls pierce immediate hurdle to $52,650

  • BTC/USD picks up bids after crossing near-term SMA, two-week-old falling trend line.
  • Strong RSI backs the breakout, MACD also recedes bearish bias.
  • Highs marked from February 17 test intraday buyers.

Bitcoin bulls justify Sunday’s break of 21-day SMA and a falling resistance line, now support, from February 21 while taking the bids near $51,150 during early Monday.

Given the easing bearish MACD and strong RSI backing the upside break of the previous key resistance, BTC/USD is ready to probe highs marked since February 17 around $52,650.

However, the cryptocurrency pair needs to cross the $56,000 hurdle during its run-up past-$52,650 to challenge the all-time high of $58,355.

Meanwhile, pullback moves may gain attention if manage to drag the quote below the 21-day SMA level of $50,170. Also, the BTC/USD sellers will need validation for further downside from the $50,000 threshold.

Following that, an ascending trend line from January 27, currently around $46,050, will be in the spotlight.

Overall, bitcoin bulls are back and can keep the reins until witnessing a daily closing below $46,050.

BTC/USD daily chart

Trend: Bullish

additional important levels

Today last price 51118.84
Today Daily Change 2213.51
Today Daily Change % 4.53%
Today daily open 48905.33
Daily SMA20 50121.27
Daily SMA50 42604.89
Daily SMA100 34236.43
Daily SMA200 23449.69
Previous Daily High 49210.05
Previous Daily Low 47085.43
Previous Weekly High 52646.22
Previous Weekly Low 43065.14
Previous Monthly High 58355.76
Previous Monthly Low 32336.85
Daily Fibonacci 38.2% 48398.44
Daily Fibonacci 61.8% 47897.03
Daily Pivot Point S1 47590.49
Daily Pivot Point S2 46275.65
Daily Pivot Point S3 45465.87
Daily Pivot Point R1 49715.11
Daily Pivot Point R2 50524.89
Daily Pivot Point R3 51839.73



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