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    Bitcoin Price Prediction: BTC gears up for fresh record top, bulls await clear break of $52,650

    Abstract:Bitcoin Price Prediction: BTC gears up for fresh record top, bulls await clear break of $52,650
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    •   BTC/USD stays range-bound between $50,300 and $51,650 off-late.

    •   Sustained trading above weekly support line, 200-bar SMA favor bulls amid upbeat MACD.

    •   Ascending trend line from late-January adds to the upside barriers.

      Bitcoin buyers can ignore the recent choppy moves around $51,000, currently near $50,900, while looking at the cryptocurrency pairs ability to stay beyond the key supports during early Thursday. The BTC/USD optimism can also take clues from the bullish MACD signals to direct bulls towards a fresh high above $58,355.

      However, a two-week-old horizontal area guards the quotes immediate upside below $52,650.

      Hence, BTC/USD bulls need to cross the immediate hurdle to justify their hold on the e-currency.

      In doing so, an upward sloping resistance line from January 27, currently around $54,800, can offer a breathing space during the quotes upside.

      Meanwhile, pullback moves shouldnt be considered serious if staying above the immediate support line, at $48,860 now, a break of which will recall the BTC/USD sellers targeting a 200-bar SMA level of $45,480.

      In a case where the BTC/USD bears dominate past-$45,480, tops marked during the early February and late January, respectively around $41,000 and $38,650, will be the key to watch.

    BTC/USD four-hour chart

      Trend: Bullish

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