BTC/USD bears battle 50-day SMA following a downside break of two-month-old support line. Late-February low lures sellers ahead of $41,300-450 key support-zone. Bulls need to cross February top for re-entry. Bitcoin fades recent corrective pullback while dropping back to $51,700 during early Friday. In doing so, the cryptocurrency major battles 50-day SMA while keeping Wednesday’s downside break of an ascending trend line from January 27. Given the bearish MACD and downward sloping RSI, not overbought, favoring the key support break, now resistance, BTC/USD is up for further losses. However, a clear break below the $51,000 threshold, around 50-day SMA, becomes necessary for the sellers’ conviction. Following that, the quote’s slump towards lows marked on February 10 and 28, respectively around $43,700 and $43,050, can’t be ruled out. However, any further losses will be challenged by an area comprising 100-day SMA and early 2021 tops, near $41,450-300. On the flip side, a corrective pullback beyond the previous support line, at $53,850 by the press time, will have to piece February top near $58,350 to convince the BTC/USD bulls. BTC/USD daily chart Trend: Further weakness expected FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next EUR/USD picks up bids towards 1.1800 as mixed clues propel S&P 500 Futures FX Street 8 months BTC/USD bears battle 50-day SMA following a downside break of two-month-old support line. Late-February low lures sellers ahead of $41,300-450 key support-zone. Bulls need to cross February top for re-entry. Bitcoin fades recent corrective pullback while dropping back to $51,700 during early Friday. In doing so, the cryptocurrency major battles 50-day SMA while keeping Wednesday's downside break of an ascending trend line from January 27. Given the bearish MACD and downward sloping RSI, not overbought, favoring the key support break, now resistance, BTC/USD is up for further losses. However, a clear break below the $51,000 threshold, around 50-day SMA, becomes… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
