• 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

Today last price 49171.91
Today Daily Change 0.00
Today Daily Change % 0.00%
Today daily open 49171.91
Daily SMA20 41079.81
Daily SMA50 36983.97
Daily SMA100 28287.17
Daily SMA200 19974.97
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



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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed Join Telegram

Recommended content

Recommended Content

Editors’ Picks

Why Polygon’s MATIC bulls could be too eager and drop the ball on this rally

Why Polygon’s MATIC bulls could be too eager and drop the ball on this rally

Polygon (MATIC) price action has been on treading nervously this week, with weekly earnings switching back and forth between profit and loss. It all comes down to trading this Friday to see if bulls can eke out a winning week.

More Polygon News

How can traders squeeze in more gains as Shiba Inu price teases a 42% rally

How can traders squeeze in more gains as Shiba Inu price teases a 42% rally

Shiba Inu price positively reacted to the United States inflation report, forming a bullish candle on its daily chart. The second-largest meme coin brushed shoulders with $0.00001287 but pulled back to test support highlighted by the 100-day Simple Moving Average (SMA) at $0.00001170.

More Shiba Inu News

CRO price sees bulls using their last ammunition to attack $0.16

CRO price sees bulls using their last ammunition to attack $0.16

Crypto.com Coin (CRO) price action is looking to execute a bullish breakout above $0.16. Ignorant bulls will try to be part of that rally, but that could prove a big mistake as a few risks need to be taken into account to be sure that this rally still has legs.

More Crypto.com News

Solana traders’ focus on $58 as the rally starts to slow down

Solana traders’ focus on $58 as the rally starts to slow down

Solana (SOL) price action is set to close out the week with a mere 7% gain depending on where it ends  Friday evening after the US closing bell. Overall it has been a good trading week from a fundamental perspective and technicals in a supporting role.

More Solana News

Bitcoin: If bulls lose control here, BTC could revisit $21,000

Bitcoin: If bulls lose control here, BTC could revisit $21,000

Bitcoin price shows an interesting setup that could reveal its next move. On closer inspection,  its technicals support a bearish outlook for the leading crypto.  

Read full analysis