TA: Bitcoin Consolidates Gains, Why Dips Could Be Limited Below $50K

TA: Bitcoin Consolidates Gains, Why Dips Could Be Limited Below $50K

Bitcoin extended its recovery above $51,000 against the US Dollar. BTC must remain stable above $49,500 to continue higher in the near term. Bitcoin started a recovery wave above the $50,500 resistance zone. The price is now trading above $50,000 and the 100 hourly simple moving average. There was a break below a connecting bullish trend line with support near $50,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh increase if it is above the $49,500 level. Bitcoin Price Loses Steam Bitcoin price extended its recovery wave above the $50,000....


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