• BTC/USD bulls catch a breather around record top, keeps upside break of six-week-old resistance marked Wednesday.
  • Bullish MACD, sustained trading above 10-day SMA, FE 61.8% also favor the buyers.
  • Early January top restricts bear’s entry, $55,000 adds to the upside filter.

Bitcoin remains on the front foot despite the latest dribbling around the record top of $52.638 during early Thursday. In doing so, the BTC/USD pair keeps the previous day’s upside break of short-term key resistance line while extending run-up beyond 61.8% Fibonacci Expansion (FE) of November 26, 2020, to January 08, 2021, upside and the following pullback to $28,768 on January 22, 2021.

Also favoring the cryptocurrency buyers is the quote’s successful run-up beyond 10-day SMA amid the bullish MACD.

As a result, the BTC/USD prices are well directed towards the next FE resistance level of 100% around $54,500 ahead of targeting the $55,000 round-figure.

Meanwhile, the $50,000 psychological magnet precedes the previous resistance line, at $49,700, to restrict the short-term downside moves.

Even if the BTC/USD sellers dominate past-$49,700, 10-day SMA and the early January 2021 top, respectively around 47,850 and $42,000, will add filters during the further declines.

Overall, the bitcoin bull-run has a long way to go before hitting the wall wherein the $54,500 hurdle can satisfy buyers for now.

BTC/USD daily chart

Trend: Bullish

Additional important levels

Overview
Today last price 52228.63
Today Daily Change 3056.72
Today Daily Change % 6.22%
Today daily open 49171.91
 
Trends
Daily SMA20 41079.81
Daily SMA50 36983.97
Daily SMA100 28287.17
Daily SMA200 19974.97
 
Levels
Previous Daily High 50614.01
Previous Daily Low 47059.22
Previous Weekly High 48932.32
Previous Weekly Low 37390.41
Previous Monthly High 41987.21
Previous Monthly Low 27772
Daily Fibonacci 38.2% 49256.08
Daily Fibonacci 61.8% 48417.15
Daily Pivot Point S1 47282.75
Daily Pivot Point S2 45393.6
Daily Pivot Point S3 43727.97
Daily Pivot Point R1 50837.54
Daily Pivot Point R2 52503.16
Daily Pivot Point R3 54392.32

 

 

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