BTC/USD Bullish: $51,400 will be the First Rebounce Target in Next 2 Days

[katrina2]

Bitcoin had a relatively rough time last week as it plunged by more than 30% after reaching a new all-time high of $58,000. The main factor of that “massive” drop was most likely the action in the US Treasuries market.

Because of the market general view that US economic recovery will speed up, which will then force the Fed to think about increasing the interest rates earlier than expected. The 10-year Treasury yields rose to 1.60%, the highest level in past one year. Furthermore, the $1.9 trillion stimulus package also suppressed the bitcoin price.

Since bitcoin and US Treasury are considered as hedging assets, one becomes more attractive will discourage that of the other.
However, BTC/USD has recovered in the past two days as the yields appear to be softening, and strong institutional support. From the fundamental aspects, Bitcoin seems to be more bullish in March.

BTC/USD Technical Outlook: Bullish Signals Appear
On the 4H chart, Bitcoin price has broken above 38.2% Fibonacci retracement level. The 15-period and 25-period moving averages weighted have formed a “golden crossover”, which is a bullish signal. Meanwhile, BTC/USD has also climbed above the first support of Pitchfork indicator and is approaching the 23.6% retracement level ($51,400). If it reaches $51,400, the bullish run will continue.

Support: $48,500, $47,000, $45,000
Resistance: $49,500, $50,500, $51,500

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[BrewMaster]

if price breaks the $50k resistance once again then there is a very high chance that $51400 is going to be surpassed immediately too because of the FOMO that always takes place after breaking such resistances.
there has also been a lot of FUD that led many people to believe this was the end of the bull run (that was just started) so they sold their coins and are so eager to jump back in (a bigger FOMO than usual).

[bL4nkcode]

Today's peak was $50k and probably $51k isn't too far to reach though, so expect at least a $3k increase just like today, and yes $3k bounce is pretty normal in the next 2 days.

[DarkDays]

if price breaks the $50k resistance once again then there is a very high chance that $51400 is going to be surpassed immediately too because of the FOMO that always takes place after breaking such resistances.
there has also been a lot of FUD that led many people to believe this was the end of the bull run (that was just started) so they sold their coins and are so eager to jump back in (a bigger FOMO than usual).

I agree, the FUD around the market collapsing has caused many to liquidate all their holdings. With BTC clearing off 50.5K nicely would like improve people's sentiments and because of FOMO this might be the catalyst for another pump. Of course, this speculation does not include institutional behaviour but it is something to consider also.

[LittleBitFunny]

There is no fear for Hodlers,
If you hold your Bitcoin for long term then you don't have to regret it in the future.
If you are doing short-term trading then it is sure you will fail to catch a big Pump.
There are too few traders who are in profit in long run, cause they are all-time having mental stress and sell their coin when it pumped a little.
So, instead of doing short trading, it is better to hold your coin for the long term.

[Rruchi man]

As we continue to monitor the market, there is no doubt whatsoever that in a couple of days, we will be happy once again and the predicted 80k ATH by mid year is still very much achievable. I am particularly excited for all those who bought more BTC during the dip.

[aoluain]

Its only a matter of time, it will be this week for sure. A lot of weak hands are looking to get back
in after relinquishing Bitcoin last week and realise yet again Bitcoin isnt going to $10k.

$50k resistance will be broken again

[TravelMug]

Today's peak was $50k and probably $51k isn't too far to reach though, so expect at least a $3k increase just like today, and yes $3k bounce is pretty normal in the next 2 days.

Oh I never seen the price to bounce to $50k, but you are right, it reaches as high as $50,127.51 in the last 24 hours, so it's a good sign already, although when I check the price goes to $47k.

And now that the Asian market seems to be active this day, I will not be surprised to see the price hovering around $50k or even more. So it's important that this resistance should be broken, sustain in the next 2 days.

[Kemarit]

Its only a matter of time, it will be this week for sure. A lot of weak hands are looking to get back
in after relinquishing Bitcoin last week and realise yet again Bitcoin isnt going to $10k.

$50k resistance will be broken again

This is the big number for now, I'm sure when $50,000 is broken again, we will see another massive spike because usually this whole numbers are big psychological barrier for majority and once it is surpassed a new set of FOMO will come it.

And it seems that the sell-off pressure is gone for now, the market has been shaken again. And then they realized that $10,000 is not gonna happen, LOL.

[pooya87]

And it seems that the sell-off pressure is gone for now, the market has been shaken again. And then they realized that $10,000 is not gonna happen, LOL.

HAHA it is always a very small percentage of the traders that are "weak hands" and believe the FUD to panic sell their bitcoins thinking price is going to dump ridiculously low regardless of the fact that we are already in a bull market having a big rise every 3 weeks on average. So they are bound to run out of coins to sell very soon which is why price is again knocking at the $50k door.

[Vishnu.Reang]

The institutions knew about it. When the exchange rates fell to $43K, there were reports that the institutional investors have stepped up their purchases. Those who purchased back then are already at a 20% profit. Individual investors are losing out, as many of them can't afford to hold on for long term. They get alarmed by the volatility and tend to become susceptible to panic selling. I don't know what proportion of the total circulating supply is being held by institutions at this point, but the percentage will definitely increase in the near future.

[BrewMaster]

Individual investors are losing out, as many of them can't afford to hold on for long term. They get alarmed by the volatility and tend to become susceptible to panic selling.

an "investor" is someone who holds for long term and if someone isn't doing that or can't afford doing that then they are NOT investors, they are day traders.
and a day trader who gets alarmed by the very normal volatility of bitcoin market and ends up panic selling can not be called a "trader" they are gamblers.

so in other words those whom you described here are simply gamblers who end up losing money which is nothing new.

[UserU]

Its only a matter of time, it will be this week for sure. A lot of weak hands are looking to get back
in after relinquishing Bitcoin last week and realise yet again Bitcoin isnt going to $10k.

$50k resistance will be broken again

The feeling of regret when we all hesitated during its bull run last year.

Oh well, at least I got some during the recent dip and hopefully who knows, 6 figures by the end of the year?

[AakZaki]

This is the big number for now, I'm sure when $50,000 is broken again, we will see another massive spike because usually this whole numbers are big psychological barrier for majority and once it is surpassed a new set of FOMO will come it.

And it seems that the sell-off pressure is gone for now, the market has been shaken again. And then they realized that $10,000 is not gonna happen, LOL.

FOMO is bound to happen when $ 50k is broken back again. We can see that many investors are starting to come back at this time. The price went back up and tried to break the $ 50k mark.

When FOMO occurs, this will break the full bearish history of March. expect a drop to the price of $ 10k will not be possible and it is impossible for now.

we just wait for the next spike, can bitcoin reach the new ATH again.

[tabas]

As we continue to monitor the market, there is no doubt whatsoever that in a couple of days, we will be happy once again and the predicted 80k ATH by mid year is still very much achievable.

Would love to see that and even it takes up to the end of the year, that's worthwhile.

I am particularly excited for all those who bought more BTC during the dip.

Just as what we used to say, buy the dip while others are waiting for more dips but you don't know if that dip is the actual dip. 

[Willitivity]

Today's peak was $50k and probably $51k isn't too far to reach though, so expect at least a $3k increase just like today, and yes $3k bounce is pretty normal in the next 2 days.

That's only possible if sellers don't come back to sell this local 3 days top. But if it goes ahead to break through and achieve $51K again, next lap should be $55K. We had some more bitcoin investments inflows from more institutional investors. I  think I read somewhere that Microstrategy added more Bitcoin's to their already heavy bag of Bitcoins.

Just as what we used to say, buy the dip while others are waiting for more dips but you don't know if that dip is the actual dip. 

Another way to think about it is to buy even when the dip gets lower. At least it would bring your average down to a considerate level.

[tbct_mt2]

The institutions knew about it. When the exchange rates fell to $43K, there were reports that the institutional investors have stepped up their purchases. Those who purchased back then are already at a 20% profit. Individual investors are losing out, as many of them can't afford to hold on for long term. They get alarmed by the volatility and tend to become susceptible to panic selling. I don't know what proportion of the total circulating supply is being held by institutions at this point, but the percentage will definitely increase in the near future.

Individual investors fail because of their lack of knowledge and experience. It will change if they spend time to read the past history of bitcoin, cycles and how price was manipulated by news. They will understand better about bitcoin if they care about and step up to read and learn.

With better knowledge, they will have bigger belief and reduce their unreasonable panic sellings.

Institutional investors succeed as they have better knowledge and solid belief in bitcoin and they are more confident with their investment. Big or small capital does not make sense as your entry and exit price will make up your profits or losses.

[zanezane]

Its only a matter of time, it will be this week for sure. A lot of weak hands are looking to get back
in after relinquishing Bitcoin last week and realise yet again Bitcoin isnt going to $10k.

$50k resistance will be broken again

50k resistance doesn't need to be broken again, it was just the ebb and flow in the price but it will ultimately go back up, I like to think of it as a low tide in the market. I don't know if I should feel bad for this weak hands that are buying back the bitcoin because they thought that the dump season is going to start because they are the reason that prices go up but at the same time they are the reason for a continuous price dump when a sudden dip in prices shows up.

[LogitechMouse]

And it seems that the sell-off pressure is gone for now, the market has been shaken again. And then they realized that $10,000 is not gonna happen, LOL.

Its quite funny to think that there are still some investors who are hoping that Bitcoin @10k USD will happen.
Panic sellers are gone for now and we are in a short rise as of now (price of BTC @ $49,663.10). I don't want to spoil though but I'm thinking that there is a chance that we might test the support the OP has been shared to us especially the $45,000 price. Overall, as a long term investor movements like this doesn't bother me. Those short term investors and traders are the ones who are panicking right now (or at least).

The feeling of regret when we all hesitated during its bull run last year.

Oh well, at least I got some during the recent dip and hopefully who knows, 6 figures by the end of the year?

If you follow what most of the investors are doing then you will regret what you decided. Being a contrarian sometimes is good. If they are selling, that is a good opportunity for you to buy and vice versa. Now those who bought at the dip or accumulated before the bull run are the ones who are having the most profit now. Those investors who aren't following the herd are the ones who are happy right now because of their decision.

6-Digit price by end of the year?? Might be but the chances of it to happen is low IMO. If that happens then good for us hodlers .

[elisabetheva]

Individual investors fail because of their lack of knowledge and experience. It will change if they spend time to read the past history of bitcoin, cycles and how price was manipulated by news. They will understand better about bitcoin if they care about and step up to read and learn.

With better knowledge, they will have bigger belief and reduce their unreasonable panic sellings.

Institutional investors succeed as they have better knowledge and solid belief in bitcoin and they are more confident with their investment. Big or small capital does not make sense as your entry and exit price will make up your profits or losses.

I really agree with you about people having to understand more and experience better knowledge, because someone fails because they are lazy to receive updated information that allows them to understand the current situation.

Likewise, about the development of bitcoin, we know that bitcoin is very unpredictable by the way it works, but from the experience we have, we can understand the flow of bitcoin habits itself.

but to be more precise individual investors still don't understand, but now they are also getting smarter and many are starting to keep up with developments, although it is clearly different from institutional investors who are indeed jobs that have been involved for a long time. they will clearly better understand the state of bitcoin when to buy and when to sell so they can make a profit.