Bitcoin Price Sits In Range With Sharp Moves, $50K Is The Key

Feb 21, 2024 04:00 am Cryptocurrency 85

Bitcoin price spiked toward the $53,200 resistance. BTC is trading in a major range and still holding gains above the $50,000 support zone.

Bitcoin price is struggling to clear the $52,500 resistance zone.

The price is trading below $52,400 and the 100 hourly Simple moving average.

There is a connecting bearish trend line forming with resistance at $52,300 on the hourly chart of the BTC/USD pair (data feed from Kraken).

The pair could dip toward the $51,600 support before it attempts a fresh increase.

Bitcoin Price Holds Ground

Bitcoin price made another attempt to gain strength above the $52,200 resistance zone. BTC broke the $52,500 level and even spiked above $52,800. However, the bears were active near the $53,000 level.

A new multi-week high was formed near $52,991 and the price dived toward $50,500. A low was formed at $50,663 and the price is now attempting a fresh increase. There was a move above the $51,600 level. The price climbed ..

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