September 23, 2023 10:04 am

Bitcoin – A Return to $52,000 Levels would Bring $53,500 into Play and Deliver Crypto Market Support

Facebook
Twitter
LinkedIn
Pinterest
WhatsApp
Telegram

URGENT: JUST 11 DAYS REMAIN TO HELP SAVE INDEPENDENT MEDIA & ANR, TO ENSURE WE ARE FULLY FUNDED FOR NEXT MONTH,SO LET'S CUT THE BS & GET TO THE POINT - WE WILL BE FORCED LAY OFF STAFF & REDUCE OPERATIONS UNLESS WE ARE FULLY FUNDED WITHIN THE NEXT 2 WEEKS - Sadly, less than 0.5% of readers currently donate or subscribe to us But YOU can easily change that. Imagine the impact we'd make if 3 in 10 readers supported us today. To start with we’d remove this annoying banner as we could fight for a full year...

Bitcoin – A Return to $52,000 Levels would Bring $53,500 into Play and Deliver Crypto Market Support

By Bob Mason

This is the tech analysis for Bitcoin. We will be looking at movements from the day prior and today’s support, resistance, pivot levels, and Fibonacci’s. Additionally, we will look at the broader market moves on the day prior and any key market drivers.

Bitcoin’s Day Prior Moves

Bitcoin, BTC to USD, fell by 0.27% on Wednesday. Reversing a 0.26% gain from Tuesday, Bitcoin ended the day at $50,503.

After a mixed start to the day, Bitcoin slid to a late morning intraday low $48,726 before making a move. Bitcoin fell through the first major support level at $49,829 and the second major support level at $49,025.

Steering clear of sub-$48,500 levels, however, Bitcoin rose to a mid-afternoon intraday high $51,275. Falling short of the first major resistance level at $51,704, Bitcoin fell back to end the day at $50,500 levels.

The near-term bullish trend remained intact, in spite of the latest pullback to $41,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $28,814 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Tuesday.

Bitcoin Cash SV slid by 7.58% to lead the way down, with Crypto.com Coin (-4.17%) and Polkadot (-1.94%) also seeing red.

It was a bullish day for the rest of the majors, however.

Chainlink rallied by 8.62% to lead the way, with Binance Coin (+4.96%) and Ripple’s XRP (+5.63%) also finding strong support.

Cardano’s ADA (+1.23%), Ethereum (+3.02%), and Litecoin (+1.93%) trailed the front runners, however.

In the current week, the crypto total market fell to a Monday low $2,124bn before rising to a late Tuesday high $2,417bn. At the time of writing, the total market cap stood at $2,377bn.

Bitcoin’s dominance rose to a Monday high 41.96% before falling to a Wednesday low 40.33%. At the time of writing, Bitcoin’s dominance stood at 40.38%.

This Morning

At the time of writing, Bitcoin was up by 0.56% to $50,788. A mixed start to the day saw Bitcoin fall to an early morning low $50,504 before rising to a high $50,844.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a bullish start to the day.

At the time of writing, Binance Coin was up by 1.30% to lead the way.

For the Bitcoin Day Ahead

Bitcoin would need to avoid the $50,168 pivot to bring the first major resistance level at $51,610 into play. Support from the broader market would be needed, however, for Bitcoin to break out from Wednesday’s high $51,275 levels.

Barring an extended crypto rally, the first major resistance level would likely cap the upside.

In the event of an extended rally, Bitcoin could test the 23.6% FIB of $53,628 before easing back. The second major resistance level sits at $52,717.

A fall through the $50,168 pivot would bring the first major support level at $49,061 into play. Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$48,000 levels. The second major support level sits at $47,619.

Invest in a new global currency Our World Coin that is built to free humanity. Our World Coin is initiative by the people for the people, a force for good & a peaceful revolution, to remove the corrupted Globalist’s control over our nations. For more details, visit https://www.ourworldcoin.org/

Opinion pieces don’t necessarily reflect the position of our news site but of our Opinion writers.

Support the ANR from as little as $8 – it only takes a minute. If you can, please consider supporting us with a regular amount each month. Thank you.

Subscribe for free to our ANR news emails and access 2 free ebooks plus Reports to share with family and friends about Covid fraud and the danger of the vaccines.

Australian National Review is Australia’s first real free and independent press, one with no editorial control by the elite, but a publication that can generate critical thinkers and critical debate and hold those spreading mistruths and deliberate propaganda in mainstream media to account.

News with a difference that will be educational, compelling and create a platform for political and social change in this country and address the real issues facing this country and the world.

Watch Full Documentary

URGENT: JUST 3 DAYS REMAIN TO HELP SAVE INDEPENDENT MEDIA & ANR, SO LET'S CUT THE BS & GET TO THE POINT - WE WILL BE FORCED TO LAY OFF STAFF & REDUCE OPERATIONS UNLESS WE ARE FULLY FUNDED WITHIN THE NEXT 2 WEEKS

Sadly, less than 0.5% of readers currently donate or subscribe to us But YOU can easily change that. Imagine the impact we'd make if 3 in 10 readers supported us today. To start with we’d remove this annoying banner as we could fight for a full year...

Get access to TruthMed- how to save your family and friends that have been vaxx with vaccine detox, & how the Unvaxxed can prevent spike protein infection from the jabbed.

Free with ANR Subscription from $8

Download the Full PDF - THE COVID-19 FRAUD & WAR ON HUMANITY