Rally

Bitcoin

Resistance

Gains

Bitcoin price is attempting a fresh increase above the $52,000 resistance. BTC must clear the $52,800 resistance to continue higher in the near term. 
<ul> 
 <li>Bitcoin price is gaining pace above the $52,800 resistance zone.</li> 
 <li>The price is trading above $52,000 and the 100 hourly Simple moving average.</li> 
 <li>There was a break above a key bearish trend line with resistance at $51,880 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-gains">Bitcoin Price Eyes More Gains</h2> 
Bitcoin price started a downside correction from the <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-hold-strong-52k/" target="_blank" rel="noopener ">$52,800 resistance zone</a>. BTC corrected lower below the $52,000 and $51,500 levels. However, the bulls were active above the $50,500 zone. 
A low was formed near $50,581 and the price is now attempting a <a href="https://www.newsbtc.com/analysis/btc/will-bitcoin-bulls-hit-55k/" target="_blank" rel="noopener ">fresh increase</a>. There was a move above the $51,200 and $51,500 resistance levels. The price cleared the 50% Fib retracement level of the downward move from the $52,843 swing high to the $50,581 low. 
Besides, there was a break above a key bearish trend line with resistance at $51,880 on the hourly chart of the BTC/USD pair. Bitcoin is now trading above $52,000 and the 100 hourly Simple moving average. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_767414.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-575743" src="https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_767414.png?resize=1024%2C461" alt="Bitcoin Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_767414.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_767414.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_767414.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_767414.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_767414.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_767414.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_767414.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 $52,300 level. It is near the 76.4% Fib retracement level of the downward move from the $52,843 swing high to the $50,581 low. 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="another-decline-in-btc">Another Decline In BTC?</h2> 
If Bitcoin fails to rise above the $52,300 resistance zone, it could start another downside correction in the near term. Immediate support on the downside is near the $51,850 level and the trend line. 
The first major support is $51,300. If there is a close below $51,300, the price could gain bearish momentum. In the stated case, the price could decline toward the $50,500 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 – $51,850, followed by $51,300. 
Major Resistance Levels – $52,300, $52,800, and $54,000.

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