Bitcoin

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<ul> 
 <li>Bitcoin is displaying a strong upward trend above $43,730 with 30-minute candle closures.</li> 
 <li>Caution should be exercised as Bitcoin approaches the $45,000 level, and the impact of selling pressure should be monitored closely.</li> 
 <li>The upward trend initiated in October is ongoing, but the possibility of a decline may increase if the weekly resistance between $44,200 and $45,400 is not surpassed.</li> 
</ul> 
<p><strong>Bitcoin continues its short-term ascent on the chart, but caution is advised above $45,000. From a long-term perspective, overcoming the weekly resistance is essential. Particularly, the $37,600 support is a significant level, and closures below this level could trigger a downturn. Investors should formulate their strategies by keeping an eye on these levels.</strong></p> 
<h2 id="strong-medium-term-btc-analysis-strong"><strong>MEDIUM-TERM BTC ANALYSIS</strong></h2> 
<figure id="attachment_132288" aria-describedby="caption-attachment-132288" style="width: 100%" class="wp-caption alignnone">
 <a href="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/12/btc-usdt-4d-scaled.webp?quality=70&amp;ssl=1"><img loading="lazy" decoding="async" class=" td-modal-image wp-image-132288 size-full" src="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/12/btc-usdt-4d-scaled.webp?resize=696%2C338&amp;quality=70&amp;ssl=1" alt="4-Day BTC/USD Price Chart" width="696" height="338" srcset="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/12/btc-usdt-4d-scaled.webp?w=2560&amp;quality=70&amp;ssl=1 2560w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/12/btc-usdt-4d-scaled.webp?resize=300%2C146&amp;quality=70&amp;ssl=1 300w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/12/btc-usdt-4d-scaled.webp?resize=1024%2C497&amp;quality=70&amp;ssl=1 1024w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/12/btc-usdt-4d-scaled.webp?resize=768%2C373&amp;quality=70&amp;ssl=1 768w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/12/btc-usdt-4d-scaled.webp?resize=1536%2C745&amp;quality=70&amp;ssl=1 1536w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/12/btc-usdt-4d-scaled.webp?resize=2048%2C994&amp;quality=70&amp;ssl=1 2048w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/12/btc-usdt-4d-scaled.webp?resize=150%2C73&amp;quality=70&amp;ssl=1 150w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/12/btc-usdt-4d-scaled.webp?resize=696%2C338&amp;quality=70&amp;ssl=1 696w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/12/btc-usdt-4d-scaled.webp?resize=1068%2C518&amp;quality=70&amp;ssl=1 1068w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/12/btc-usdt-4d-scaled.webp?resize=1920%2C932&amp;quality=70&amp;ssl=1 1920w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/12/btc-usdt-4d-scaled.webp?w=1392&amp;quality=70&amp;ssl=1 1392w" sizes="(max-width: 696px) 100vw, 696px" data-recalc-dims="1"></a>
 <figcaption id="caption-attachment-132288" class="wp-caption-text">
  4-Day BTC/USD Price Chart
 </figcaption>
</figure> 
<p>In the medium-term analysis of Bitcoin, it is observed that it continues the upward trend initiated in October. The BTC price is currently trading at $43,950 and is quite close to the weekly resistance.</p> 
<p>Bitcoin’s price is currently moving near the $44,200 weekly resistance. If Bitcoin manages to achieve weekly candle closures above $44,200, the upward trend may continue. However, for BTC to sustain its upward movement, it is crucial to overcome the critical weekly resistance in the range of <strong>$44,200</strong> to <strong>$45,400.</strong></p> 
<p>Analysts at Coinotag suggest that if the price fails to close above $44,200 on the weekly time frame, a decline could begin. The substantial liquidation at the $37,600 support, in particular, increases the likelihood of a downturn.</p> 
<p>BTC investors may consider reinvesting at levels around $37,600 in the event of a potential decline. However, if the Bitcoin price makes weekly closures below $37,000, the continuation of the decline could extend to <strong>$35,400</strong>.</p> 
<h2 id="strong-short-term-btc-analysis-strong"><strong>SHORT-TERM BTC ANALYSIS</strong></h2> 
<figure id="attachment_132289" aria-describedby="caption-attachment-132289" style="width: 100%" class="wp-caption alignnone">
 <a href="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/12/btc-usdt-30m-scaled.webp?quality=70&amp;ssl=1"><img loading="lazy" decoding="async" class=" td-modal-image wp-image-132289 size-full" src="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/12/btc-usdt-30m-scaled.webp?resize=696%2C338&amp;quality=70&amp;ssl=1" alt="30-Minute BTC/USD Price Chart" width="696" height="338" srcset="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/12/btc-usdt-30m-scaled.webp?w=2560&amp;quality=70&amp;ssl=1 2560w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/12/btc-usdt-30m-scaled.webp?resize=300%2C146&amp;quality=70&amp;ssl=1 300w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/12/btc-usdt-30m-scaled.webp?resize=1024%2C497&amp;quality=70&amp;ssl=1 1024w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/12/btc-usdt-30m-scaled.webp?resize=768%2C373&amp;quality=70&amp;ssl=1 768w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/12/btc-usdt-30m-scaled.webp?resize=1536%2C745&amp;quality=70&amp;ssl=1 1536w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/12/btc-usdt-30m-scaled.webp?resize=2048%2C994&amp;quality=70&amp;ssl=1 2048w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/12/btc-usdt-30m-scaled.webp?resize=150%2C73&amp;quality=70&amp;ssl=1 150w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/12/btc-usdt-30m-scaled.webp?resize=696%2C338&amp;quality=70&amp;ssl=1 696w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/12/btc-usdt-30m-scaled.webp?resize=1068%2C518&amp;quality=70&amp;ssl=1 1068w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/12/btc-usdt-30m-scaled.webp?resize=1920%2C932&amp;quality=70&amp;ssl=1 1920w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/12/btc-usdt-30m-scaled.webp?w=1392&amp;quality=70&amp;ssl=1 1392w" sizes="(max-width: 696px) 100vw, 696px" data-recalc-dims="1"></a>
 <figcaption id="caption-attachment-132289" class="wp-caption-text">
  30-Minute BTC/USD Price Chart
 </figcaption>
</figure> 
<p>According to the short-term technical analysis of Bitcoin, if the price chart continues to see 30-minute candle closures above <strong>$43,730</strong>, there is potential for the uptrend to continue towards $45,000.</p> 
<p>However, in the event of encountering strong selling pressure at the $45,000 level, a downward movement may initiate, retracing towards the support range of $43,389 to $43,200. Therefore, caution is advised as Bitcoin approaches the $45,000 level.</p> 
<p>If the Bitcoin price loses support at $43,730, the downward movement could persist, reaching levels of <strong>$43,300</strong> and <strong>$43,440</strong> successively, especially if hourly closures occur below $43,300.</p> 
<p>The post <a rel="nofollow" href="https://en.coinotag.com/bitcoin-at-critical-resistance-will-the-upswing-continue-updated-btc-analysis/">Bitcoin at Critical Resistance! Will the Upswing Continue? Updated BTC Analysis</a> appeared first on <a rel="nofollow" href="https://en.coinotag.com">COINOTAG NEWS</a>.</p> 
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Bitcoin at Critical Resistance! Will the Upswing Continue? Updated BTC Analysis

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