Bitcoin price is struggling to clear the $52,000 resistance. BTC could start a decent downside correction if it breaks the $50,500 support zone.
Bitcoin price is still struggling to clear the $52,000 resistance zone.
The price is trading below $51,600 and the 100 hourly Simple moving average.
There was a break below a connecting bullish trend line with support at $51,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could extend its current decline and revisit the $50,500 support.
Bitcoin Price Faces Resistance At $52K
Bitcoin price retested the $50,500 support zone and even spiked toward $50,400. However, the bulls were active near the $50,450. A low was formed at $50,456 and the price recovered above $51,200.
The bears are now protecting an upside break above the $52,000 resistance zone. A high is formed at $51,936 and the price is now moving lower. There was a break below a connecting bullish trend line with support at $51,500 on the hourly c
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