Bitcoin Price Holds Ground But Risk of Pullback Keeps Rising

Bitcoin Price Holds Ground But Risk of Pullback Keeps Rising

Bitcoin price failed again to clear the $53,000 resistance. BTC is now back below $52,000 and there are chances of a downside break below the $50,500 support.


  • Bitcoin price is struggling to clear the $52,000 resistance zone.

  • The price is trading below $52,000 and the 100 hourly Simple moving average.

  • There is a connecting bearish trend line forming with resistance at $51,550 on the hourly chart of the BTC/USD pair (data feed from Kraken).

  • The pair could gain bearish momentum if there is a move below the $50,500 support.

  • Bitcoin Price Dips Again


    Bitcoin price failed to start a fresh increase above the $52,200 resistance zone. BTC settled below $52,000 and slowly moved lower. There was a drop below the $51,500 level.


    The price even revisited the $50,500 support zone. A low was formed at $50,636 and the price is now attempting a recovery wave. There was a move above the $51,000 level. The price spiked toward the 50% ..

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