{"id":112049,"date":"2021-02-10T14:16:01","date_gmt":"2021-02-10T14:16:01","guid":{"rendered":"https:\/\/precoinnews.com\/?p=112049"},"modified":"2021-02-10T14:16:01","modified_gmt":"2021-02-10T14:16:01","slug":"bitcoin-breaks-crucial-resistance-at-40500-rallies-to-48000-high","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/bitcoin-breaks-crucial-resistance-at-40500-rallies-to-48000-high\/","title":{"rendered":"Bitcoin Breaks Crucial Resistance at $40,500, Rallies to $48,000 High"},"content":{"rendered":"

BTC\/USD has finally broken and crossed the psychological price level of $40,000. On February 8, the bulls broke the $40,500 resistance and rallied to a $48,000 high.<\/strong><\/p>\n

The rally reached the $48,000 high but was repelled. The price retraced to $45,000 support but resumed to retest the recent high. Today, the BTC price is fluctuating between $45,000 and $48,000. The market has risen to $46,839 at the time of writing. <\/p>\n

However, a further upward move is doubtful with the appearance of a Doji candlestick. The candlestick is describing that the uptrend is losing strength. Buyers are unable to continue with the uptrend as sellers emerge to push prices to the $45,000 support. In the previous price action, the bulls could not sustain the bullish momentum above $40,000 resistance. Consequently, the cryptocurrency fell and has been in a downward correction since January 8.<\/p>\n

Bitcoin indicator reading   <\/h2>\n

Bitcoin has risen to level 75 of the Relative Strength Index period 14. The market is now in the overbought region. It is unlikely for a price to rally on the upside as the market reaches the overbought region. However, in a strong trending market, the overbought conditions may not hold.<\/p>\n

<\/p>\n

Technical indicators:   <\/h3>\n

Major Resistance Levels \u2013 $48,000 and $50,000<\/p>\n

Major Support Levels \u2013 $40,000 and $38,000<\/p>\n

What is the next direction for BTC\/USD? <\/h2>\n

Nevertheless, the BTC price is fluctuating in the current price range. On February 9 uptrend; a retraced candle body tested the 88.6 % Fibonacci retracement level. The retracement indicates that BTC will rise to level 1.1129 Fibonacci extensions. That is a high of $49,324.80. The market will continue to rise if the bullish momentum is sustained.<\/p>\n

<\/p>\n

Disclaimer. This analysis and forecast are the personal opinions of the author that are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds.<\/i><\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

BTC\/USD has finally broken and crossed the<\/p>\n","protected":false},"author":3,"featured_media":112048,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nBitcoin Breaks Crucial Resistance at $40,500, Rallies to $48,000 High - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/bitcoin-breaks-crucial-resistance-at-40500-rallies-to-48000-high\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Breaks Crucial Resistance at $40,500, Rallies to $48,000 High - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"BTC\/USD has finally broken and crossed the\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/bitcoin-breaks-crucial-resistance-at-40500-rallies-to-48000-high\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-10T14:16:01+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/02\/ccryptafoto4f6efd999e119d9e57d91025b6b29758.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/bitcoin-breaks-crucial-resistance-at-40500-rallies-to-48000-high\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/bitcoin-breaks-crucial-resistance-at-40500-rallies-to-48000-high\/\",\"name\":\"Bitcoin Breaks Crucial Resistance at $40,500, Rallies to $48,000 High - Pre Coin News\",\"isPartOf\":{\"@id\":\"https:\/\/precoinnews.com\/#website\"},\"datePublished\":\"2021-02-10T14:16:01+00:00\",\"dateModified\":\"2021-02-10T14:16:01+00:00\",\"author\":{\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\"},\"breadcrumb\":{\"@id\":\"https:\/\/precoinnews.com\/crypto\/bitcoin-breaks-crucial-resistance-at-40500-rallies-to-48000-high\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/precoinnews.com\/crypto\/bitcoin-breaks-crucial-resistance-at-40500-rallies-to-48000-high\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/bitcoin-breaks-crucial-resistance-at-40500-rallies-to-48000-high\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/precoinnews.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Crypto\",\"item\":\"https:\/\/precoinnews.com\/category\/crypto\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Bitcoin Breaks Crucial Resistance at $40,500, Rallies to $48,000 High\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/precoinnews.com\/#website\",\"url\":\"https:\/\/precoinnews.com\/\",\"name\":\"Pre Coin News\",\"description\":\"precoinnews.com\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/precoinnews.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\",\"name\":\"mediabest\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"caption\":\"mediabest\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Bitcoin Breaks Crucial Resistance at $40,500, Rallies to $48,000 High - Pre Coin News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/precoinnews.com\/crypto\/bitcoin-breaks-crucial-resistance-at-40500-rallies-to-48000-high\/","og_locale":"en_US","og_type":"article","og_title":"Bitcoin Breaks Crucial Resistance at $40,500, Rallies to $48,000 High - Pre Coin News","og_description":"BTC\/USD has finally broken and crossed the","og_url":"https:\/\/precoinnews.com\/crypto\/bitcoin-breaks-crucial-resistance-at-40500-rallies-to-48000-high\/","og_site_name":"Pre Coin News","article_published_time":"2021-02-10T14:16:01+00:00","author":"mediabest","twitter_card":"summary_large_image","twitter_image":"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/02\/ccryptafoto4f6efd999e119d9e57d91025b6b29758.jpg","twitter_misc":{"Written by":"mediabest","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/precoinnews.com\/crypto\/bitcoin-breaks-crucial-resistance-at-40500-rallies-to-48000-high\/","url":"https:\/\/precoinnews.com\/crypto\/bitcoin-breaks-crucial-resistance-at-40500-rallies-to-48000-high\/","name":"Bitcoin Breaks Crucial Resistance at $40,500, Rallies to $48,000 High - Pre Coin News","isPartOf":{"@id":"https:\/\/precoinnews.com\/#website"},"datePublished":"2021-02-10T14:16:01+00:00","dateModified":"2021-02-10T14:16:01+00:00","author":{"@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a"},"breadcrumb":{"@id":"https:\/\/precoinnews.com\/crypto\/bitcoin-breaks-crucial-resistance-at-40500-rallies-to-48000-high\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/precoinnews.com\/crypto\/bitcoin-breaks-crucial-resistance-at-40500-rallies-to-48000-high\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/precoinnews.com\/crypto\/bitcoin-breaks-crucial-resistance-at-40500-rallies-to-48000-high\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/precoinnews.com\/"},{"@type":"ListItem","position":2,"name":"Crypto","item":"https:\/\/precoinnews.com\/category\/crypto\/"},{"@type":"ListItem","position":3,"name":"Bitcoin Breaks Crucial Resistance at $40,500, Rallies to $48,000 High"}]},{"@type":"WebSite","@id":"https:\/\/precoinnews.com\/#website","url":"https:\/\/precoinnews.com\/","name":"Pre Coin News","description":"precoinnews.com","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/precoinnews.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a","name":"mediabest","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","caption":"mediabest"}}]}},"_links":{"self":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/112049"}],"collection":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/comments?post=112049"}],"version-history":[{"count":0,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/112049\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media\/112048"}],"wp:attachment":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media?parent=112049"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/categories?post=112049"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/tags?post=112049"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}