• BTC/USD picks up bids above $49,000 in a move to defy pullback from record top.
  • Bullish momentum, RSI join sustained trading beyond key trend line convergence to back the upside moves.
  • 200-bar SMA adds to the downside filter, weekly support line restricts immediate declines.

BTC/USD regains above $49,000, currently near $49,320, while extending the late Tuesday’s recovery moves from the mid-$47,000s. In doing so, the crypto major eyes the record top, flashed the previous day, as earlier pullback couldn’t conquer the key support.

Also favoring the bitcoin buyers could be the strong RSI and Momentum (MOM) indicators suggesting the continuation of the uptrend.

As a result, BTC/USD bulls are currently directed towards breaking an ascending resistance line from February 09, at $50,260 now, before challenging the all-time peak around $50,600.

During the quote’s sustained run-up past-$50,600, chatters surrounding the cryptocurrency pair’s rally towards the $100,000 psychological magnet will gain momentum.

Alternatively, an upward sloping trend line from Monday, currently around $47,950, offers immediate support to the quote ahead of highlighting the confluence of a previous resistance line from January 29 and a three-week-old support line near $43,900.

It should also be noted that the 200-bar SMA level of $38,100 offers extra support during the BTC/USD downside below the stated key level for bears.

BTC/USD four-hour chart

Trend: Bullish

Additional important levels

Overview
Today last price 49171.91
Today Daily Change 0.00
Today Daily Change % 0.00%
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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