Bitcoin's Upward Movement Is Blocked At $50K And The Shock Continues, Where Will The Price Go?

 2021-04-25 09:27:54

Bitcoin price has risen since the opening of the morning (April 25, UTC) at $50,045. The high level reached $50,442 and then fell back under pressure. The low level reached $49,141 and then stopped falling and then rebounded. The current price is running around $49,270 at the time of writing.

 

Although the strength of the bulls in the morning is strong, the price retreat is also showing the strength of the bears. At present, the morning gains have been taken back, and the price has the momentum to test the low points again.It is recommended to pay attention to the suppression of 50,000 from the top, and then to $51,000. If Bitcoin fails to break the $50K line, then focus on $48,500-$48,700 below, followed by $47,500 line.

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Current technical indicators

1 hours MACD – The MACD is losing momentum in the bearish zone.

1 hours RSI – The RSI is now well below the 50 level.

Major Support Level – $48,500

Major Resistance Level – $51,000

 

DISCLAIMER: The analysis of cryptocurrencies in real-time should be taken for informational purposes only, and in no case should it be taken as an investment signal. Every investment and trading move involves risk. You should conduct your own research when making a decision.

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