Bitcoin Price Prediction: BTC gears up for fresh record top, bulls await clear break of $52,650


  • BTC/USD stays range-bound between $50,300 and $51,650 off-late.
  • Sustained trading above weekly support line, 200-bar SMA favor bulls amid upbeat MACD.
  • Ascending trend line from late-January adds to the upside barriers.

Bitcoin buyers can ignore the recent choppy moves around $51,000, currently near $50,900, while looking at the cryptocurrency pair’s ability to stay beyond the key supports during early Thursday. The BTC/USD optimism can also take clues from the bullish MACD signals to direct bulls towards a fresh high above $58,355.

However, a two-week-old horizontal area guards the quote’s immediate upside below $52,650.

Hence, BTC/USD bulls need to cross the immediate hurdle to justify their hold on the e-currency.

In doing so, an upward sloping resistance line from January 27, currently around $54,800, can offer a breathing space during the quote’s upside.

Meanwhile, pullback moves shouldn’t be considered serious if staying above the immediate support line, at $48,860 now, a break of which will recall the BTC/USD sellers targeting a 200-bar SMA level of $45,480.

In a case where the BTC/USD bears dominate past-$45,480, tops marked during the early February and late January, respectively around $41,000 and $38,650, will be the key to watch.

BTC/USD four-hour chart

Trend: Bullish

additional important levels

Overview
Today last price 50837.65
Today Daily Change 2344.93
Today Daily Change % 4.84%
Today daily open 48492.72
 
Trends
Daily SMA20 49867.36
Daily SMA50 41623.26
Daily SMA100 33007.1
Daily SMA200 22707.82
 
Levels
Previous Daily High 50241.37
Previous Daily Low 47079.31
Previous Weekly High 58355.76
Previous Weekly Low 44149.17
Previous Monthly High 58355.76
Previous Monthly Low 32336.85
Daily Fibonacci 38.2% 48287.22
Daily Fibonacci 61.8% 49033.46
Daily Pivot Point S1 46967.56
Daily Pivot Point S2 45442.4
Daily Pivot Point S3 43805.5
Daily Pivot Point R1 50129.63
Daily Pivot Point R2 51766.53
Daily Pivot Point R3 53291.69

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

Ethereum price on cusp of massive breakout if key level holds

Ethereum price had a significant 23% correction in the past week but holds above a key support level on the 12-hour chart. The digital asset still has robust on-chain metrics supporting it and aims for a rebound.

More Ethereum News

VeChain consolidates as clear trend fails to establish

VeChain price has been on a tear since the start of 2020 and shows no sign of slowing down despite the recent market crash. Now, VET awaits a volatile breakout from its consolidation to establish a clear trend.

More VeChain News

Chainlink could be the first to recover amid market crash

Chainlink, like the rest of the market, has experienced a significant correction in the past four days However, the digital asset continues to hold above a crucial support level and on-chain metrics show it could be one of the strongest during this correction.

More Chainlink News

Cardano on-chain metrics reveal paradigm shift in nature of investors

Cardano price shows the loss of momentum from the buyers’ end, which has resulted in a breakdown of a critical support level. Now, a continuation of this momentum could ensue as blockchain data reveals a grim future for ADA.

More Cardano News

BEST CRYPTO BROKERS/EXCHANGES




Bitcoin Weekly Forecast: Institutional wave of BTC adoption follows new all-time highs

Bitcoin price hitting a new all-time high and Coinbase’s direct listing are perhaps two of the most important developments surrounding the pioneer cryptocurrency over the past week.

Read the weekly forecast

BTC

ETH

XRP