TA: Bitcoin Gains Momentum, Why BTC Could Rally Above $52K

TA: Bitcoin Gains Momentum, Why BTC Could Rally Above $52K


Bitcoin price broke the key $50,000 resistance zone against the US Dollar. BTC could continue to rise and it might soon clear the $52,000 resistance.

Bitcoin started a fresh increase above the $49,500 and $50,000 resistance levels. The price is now trading above $50,500 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $50,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could dips a few points, but it could soon attempt a move above $52,000. Bitcoin Price Rallies Above $50K

Bitcoin price formed a support base near the $49,500 level and started a fresh increase. BTC broke the key $50,000 resistance zone and the 100 hourly simple moving average to move into a positive zone.

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There was also a break above a major bearish trend line with resistance near $50,000 on the hourly chart of the BTC/USD pair. The

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