Bitcoin price remained well bid above the USD 50,500 support zone. BTC is rising and it is currently (13:00 UTC) trading above USD 52,000. It seems like the price might continue higher above USD 53,000 in the near term.
Besides, most major altcoins are gaining bullish momentum. ETH is trading above USD 1,900 and it might clear the USD 1,950 resistance. XRP/USD broke the USD 0.550 resistance and it might continue higher towards USD 0.585 and USD 0.600.
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There was no major decline in bitcoin price below USD 51,000. BTC recovered losses and it climbed back above USD 52,000. It even traded to a new all-time high. However, while some data aggregators claim that the price almost touched USD 53,000, others registered a brief spike above this level. In either case, the current price action is positive and it seems like the price could continue to rise above USD 53,000.
On the downside, an initial support is near the USD 52,200 level. The next key support is near the USD 51,500 level. Any more losses may possibly lead the price towards the USD 51,000 level.