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Bitcoin price is holding gains above the $52,000 resistance. BTC is consolidating gains and might aim for more upsides toward the $55,000 resistance. 
<ul> 
 <li>Bitcoin price is showing positive signs below the $52,800 resistance zone.</li> 
 <li>The price is trading above $51,500 and the 100 hourly Simple moving average.</li> 
 <li>There is a connecting bullish trend line forming with support at $51,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).</li> 
 <li>The pair could continue to move up if it clears the $52,800 resistance zone.</li> 
</ul> 
<h2 id="bitcoin-price-eyes-more-upsides">Bitcoin Price Eyes More Upsides</h2> 
Bitcoin price gained pace above the $51,200 resistance zone. BTC even broke the <a href="https://www.newsbtc.com/analysis/btc/will-bitcoin-bulls-hit-55k/" target="_blank" rel="noopener ">$52,000 resistance zone</a>. A new multi-week high was formed near $52,843 and the price is now consolidating gains. 
There was a minor decline below the $52,000 level. The price dipped below the 23.6% Fib retracement level of the upward move from the $48,240 swing low to the $52,843 high. However, the bulls were active above the $51,200 support zone. 
Bitcoin is now trading above $51,500 and the <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-holds-support-48250/" target="_blank" rel="noopener ">100 hourly Simple moving average</a>. There is also a connecting bullish trend line forming with support at $51,500 on the hourly chart of the BTC/USD pair. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_7764ca.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-575394" src="https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_7764ca.png?resize=1024%2C461" alt="Bitcoin Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_7764ca.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_7764ca.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_7764ca.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_7764ca.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_7764ca.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_7764ca.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_7764ca.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
Source: <a href="https://www.tradingview.com/symbols/BTCUSD/" target="_blank" rel="noopener nofollow">BTCUSD on TradingView.com</a> 
Immediate resistance is near the $52,500 level. The next key resistance could be $52,800, above which the price could extend its rally. The next stop for the bulls may perhaps be $53,200. A clear move above the $53,200 resistance could send the price toward the $54,000 resistance. The next resistance could be near the $55,000 level. 
<h2 id="are-dips-supported-in-btc">Are Dips Supported In BTC?</h2> 
If Bitcoin fails to rise above the $52,800 resistance zone, it could start another downside correction in the near term. Immediate support on the downside is near the $51,500 level and the trend line. 
The first major support is $50,550 and the 50% Fib retracement level of the upward move from the $48,240 swing low to the $52,843 high. If there is a close below $50,500, the price could gain bearish momentum. In the stated case, the price could dive toward the $48,500 support zone. 
Technical indicators: 
Hourly MACD – The MACD is now gaining pace in the bullish zone. 
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. 
Major Support Levels – $51,500, followed by $50,500. 
Major Resistance Levels – $52,500, $52,800, and $54,000.

Bitcoin Price Hold Strong At $52K: Indicators Show Signs of More Upsides

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