Bitcoin

Resistance

Bitcoin price is struggling to rise above the $52,000 resistance. BTC is now at risk of a downside break below the $50,500 support zone. 
<ul> 
 <li>Bitcoin price is struggling to clear the $52,000 resistance zone.</li> 
 <li>The price is trading below $51,800 and the 100 hourly Simple moving average.</li> 
 <li>There is a bearish flag forming with support at $51,120 on the hourly chart of the BTC/USD pair (data feed from Kraken).</li> 
 <li>The pair could start a major pullback if there is a move below the $50,500 support.</li> 
</ul> 
<h2 id="bitcoin-price-struggles-below-52k">Bitcoin Price Struggles Below $52K</h2> 
Bitcoin price remained in a short-term negative zone below the <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-holds-ground-50500/" target="_blank" rel="noopener ">$52,200 resistance zone</a>. BTC settled below $51,800 and slowly moved lower. There was a drop below the $51,200 level before there was a minor recovery. 
The price recovered a few points above the $51,500 level. There was a move above the 50% Fib retracement level of the downward wave from the $52,990 swing high to the $50,636 low. However, the bears were active near the $52,000 resistance zone. 
Bitcoin is now trading below $51,800 and the <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-range-50k-key/" target="_blank" rel="noopener ">100 hourly Simple moving average</a>. There is also a bearish flag forming with support at $51,120 on the hourly chart of the BTC/USD pair. 
Immediate resistance is near the $51,800 level. The next key resistance could be $52,000, above which the price could rise toward the $52,500 resistance zone. It is near the 76.4% Fib retracement level of the downward wave from the $52,990 swing high to the $50,636 low. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_8c292a.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-576463" src="https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_8c292a.png?resize=1024%2C461" alt="Bitcoin Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_8c292a.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_8c292a.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_8c292a.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_8c292a.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_8c292a.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_8c292a.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_8c292a.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> 
The main resistance is now near the $53,000 level. A clear move above the $53,000 resistance could send the price toward the $53,500 resistance. The next resistance could be near the $54,200 level. 
<h2 id="downside-break-in-btc">Downside Break In BTC?</h2> 
If Bitcoin fails to rise above the $51,800 resistance zone, it could start another decline in the near term. Immediate support on the downside is near the $51,100 level and the channel trend line. 
The first major support is $50,550. If there is a close below $50,550, the price could start a decent pullback. In the stated case, the price could decline toward the $49,500 support zone, below which the price might even test $49,200. 
Technical indicators: 
Hourly MACD – The MACD is now gaining pace in the bearish zone. 
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. 
Major Support Levels – $51,100, followed by $50,550. 
Major Resistance Levels – $51,800, $52,000, and $52,500.

Bitcoin Price Accumulation – Risk of Pullback Escalates Below $52K

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