Bitcoin Failed To Build $50K Support With the News from Musk

 2021-05-13 12:20:22

Bitcoin dipped below $50,000 again on Thursday after the comments from Elon Musk’s on cryptocurrency like Dogecoin and Bitcoin. Musk had claimed that out of the concerns to the environment that the company would no longer accept BTC payments. The price of Bitcoin dipped as low as $45,996, it it now struggling to build up a support line at $50K.

From the daily past price chart of Bitcoin, it can be seen that Bitcoin traded above $52,000 a few hours ago, though it failed to stand still. It was trying to clear the $52,000 resistance and then  $53,000. If Bitcoin fails to find the support at $50K within today, then it may hover around this line for the rest of the week.

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Current technical indicators:

Hourly MACD – The MACD is slowly gaining pace in the bullish zone.

Hourly RSI – The RSI is now recovering from the oversold zone.

Major Support Levels – $48,000, followed by $47,500.

Major Resistance Levels – $50,500, $51,000 and $52,000.

 

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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