Bitcoin Price Sits In Range With Sharp Moves, $50K Is The Key

Bitcoin price spiked toward the $53,200 resistance. BTC is trading in a major range and still holding gains above the $50,000 support zone.Bitcoin price is struggling to clear the $52,500 resistance zone.
The price is trading below $52,400 and the 100 hourly Simple moving average.
There is a connecting bearish trend line forming with resistance at $52,300 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could dip toward the $51,600 support before it attempts a fresh incr