Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»EXCHANGE NEWS»Will Bitcoin price remain range-bound while ETH surges, and will there be more downside ahead?
EXCHANGE NEWS

Will Bitcoin price remain range-bound while ETH surges, and will there be more downside ahead?

By Crypto FlexsFebruary 26, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Will Bitcoin price remain range-bound while ETH surges, and will there be more downside ahead?
Share
Facebook Twitter LinkedIn Pinterest Email

Bitcoin price is struggling to clear resistance at $52,000. If BTC breaks the $50,500 support zone, it could begin a significant downward correction.

  • Bitcoin price is still struggling to break the $52,000 resistance zone.
  • The price is trading below $51,600 and the 100-hour simple moving average.
  • On the hourly chart of the BTC/USD pair (data feed from Kraken), a break has occurred below the connecting bullish trendline with support at $51,500.
  • The pair may extend its current downtrend and revisit the $50,500 support level.

Bitcoin price faces resistance at $52,000

Bitcoin price retested the $50,500 support zone and even surged to $50,400. However, the bulls remained active near $50,450. A low was formed at $50,456 and the price recovered above $51,200.

The bears are currently defending against an upside breakout above the $52,000 resistance area. The high was reached at $51,936 and the price is currently falling. On the hourly chart of the BTC/USD pair, a break occurred below the connecting bullish trendline with support at $51,500.

The break occurred below the 23.6% Fib retracement level of the rise from the $50,456 swing low to the $51,936 high. Bitcoin is currently trading below $51,600 and the 100-hour simple moving average.

Source: TradingView.com BTCUSD

Immediate resistance is near the $51,600 level. The next major resistance could be $52,000, above which the price may rise towards the $52,500 resistance area. Key resistance is currently near the $53,000 level. A clear break above the $53,000 resistance may lead the price to move towards the $53,500 resistance. The next resistance could be near the $54,200 level.

Another drop in BTC?

If Bitcoin fails to rise above the $51,600 resistance zone, it could begin another near-term downtrend. Immediate support on the downside is near the $51,300 level and 100-hourly SMA.

The first major support is the 50% Fib retracement level at $51,100 or the rise from the $50,456 swing low to the $51,936 high. If it closes below $51,100, the price could begin a significant downtrend. If indicated, the price may decline towards the $50,500 support zone, below which the price may test the $50,000 level.

Technical indicators:

Hourly MACD – MACD is now picking up speed in bearish territory.

Hourly Relative Strength Index (RSI) – The RSI for BTC/USD is now below the 50 level.

Key support levels – $51,100, then $50,500.

Key resistance levels – $51,600, $51,800 and $52,000.

Disclaimer: This article is provided for educational purposes only. This does not represent NewsBTC’s opinion on whether to buy, sell or hold any investment, and of course investing carries risks. We recommend that you do your own research before making any investment decisions. Your use of the information provided on this website is entirely at your own risk.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Investors are the main level of support of the eyes.

June 6, 2025

Bitcoin prices slide again, causing new fear of deeper modifications.

June 5, 2025

The price is farther, and the investor of EDGE

June 5, 2025
Add A Comment

Comments are closed.

Recent Posts

XRP price prediction by reducing the volume of RLUSD (RIPPLE USD)

June 7, 2025

ARCA is disappointed with the IPO allocation and dumps the circle sharing.

June 7, 2025

Eigenlayer starts the redistribution function in testnets

June 6, 2025

Musk & Trump SPAT sends trenches from DOGE Price Crumbling, Tesla.

June 6, 2025

Musk & Trump SPAT sends trenches from DOGE Price Crumbling, Tesla.

June 6, 2025

Vortex uses NVIDIA Jetson to innovate medical imaging with CT-similar ultrasound.

June 6, 2025

2025 Best Free Cloud Mining

June 6, 2025

Sei Development Foundation: Use of US Innovation for Global Block Chain

June 6, 2025

Analyst Michaël Van de Poppe says Bitcoin is getting higher.

June 6, 2025

Does Ethereum start their business? MorningStar Candlestick Pattern tells the story

June 6, 2025

Solana’s Journey: Promotion of Challenge, Innovation and Speed

June 6, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

XRP price prediction by reducing the volume of RLUSD (RIPPLE USD)

June 7, 2025

ARCA is disappointed with the IPO allocation and dumps the circle sharing.

June 7, 2025

Eigenlayer starts the redistribution function in testnets

June 6, 2025
Most Popular

$30B Financial Advisory Platform Endorses Only 4 Bitcoin ETFs: Bloomberg

February 24, 2024

Community tokens built for purposes

February 10, 2025

Bitwise CIO says the potential of a new spot Bitcoin ETF has yet to be unlocked.

February 22, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.