Bitcoin

Cryptocurrency

Key Points:<ul><li>Bitcoin surges above $43,000, setting a multi-month high near $44,465.</li><li>Consolidation phase underway with strong support at $43,900 and $42,000.</li><li>Potential for a rally toward $45,000, but caution prevails for short-term corrections.</li></ul>In a remarkable turn of events, <a href="https://cryptosnewss.com/bitcoins-soaring-rally-faces-resistance-at-42k-correction-likely-before-next-surge/" rel="noopener noreferrer nofollow">Bitcoin (BTC)</a> has embarked on a formidable rally, surging past critical resistance levels and touching a multi-month high near $44,465. The cryptocurrency is currently in a phase of consolidation, with indications pointing toward a potential surge to the $45,000 mark.BTC’s upward trajectory gained momentum as it surpassed the $42,000 resistance zone, reaching levels above $43,200. Presently, Bitcoin is holding firm above $43,000, supported by the 100 hourly Simple Moving Average (SMA). Noteworthy on the hourly chart of the BTC/USD pair from Kraken are two bullish trend lines, providing robust support at approximately $43,900 and $42,000.Despite a brief correction that saw Bitcoin dip below $44,000, the bulls demonstrated resilience above the $43,200 support zone. The correction tested the 23.6% Fibonacci retracement level of the recent upswing, extending from the $39,475 swing low to the $44,465 peak.Bitcoin’s current position above $43,500 and the 100 hourly SMA underscores its strength. The two bullish trend lines, especially the one aligning with the 61.8% Fibonacci retracement level, serve as significant support zones.Looking ahead, <a href="https://cryptosnewss.com/category/bitcoin-news/" rel="noopener noreferrer nofollow">Bitcoin</a> faces immediate resistance around the $44,250 level, with a pivotal hurdle at $44,450. Surpassing these levels could pave the way for a rally toward the coveted $45,000 mark. Should Bitcoin achieve a close above $45,000, the next substantial resistance awaits around $46,200, potentially propelling BTC toward $47,500._______________________________________________________________________________________Stay connected with us on <a href="https://news.google.com/publications/CAAqBwgKMLrrowwwzOOyBA" rel="noopener noreferrer nofollow">Google News</a>, <a href="https://t.me/cryptosnewsss" rel="noopener noreferrer nofollow">Telegram</a>, <a href="https://twitter.com/NewssCryptos" rel="noopener noreferrer nofollow">Twitter</a>, and <a href="https://www.facebook.com/profile.php?id&#61;100089949049302" rel="noopener noreferrer nofollow">Facebook</a> to stay updated on the latest developments and engaging discussions in the realm of CryptosNewss.Disclaimer: Please note that the viewpoints and perspectives expressed by the author, as well as any individuals referenced in this article, are intended solely for informational purposes. They should not be construed as financial or investment advice. It’s important to acknowledge that investing in or trading cryptoassets carries inherent financial risks.Originally published at <a href="https://cryptosnewss.com/bitcoin-eyes-45000-as-price-consolidates-above-43k/" rel="noopener noreferrer nofollow">https://cryptosnewss.com</a><a href="https://cryptosnewss.com/shiba-inu-sets-crypto-ablaze-shibarium-burn-consumes-8-24-billion-shib-tokens/" rel="noopener noreferrer nofollow"> </a>on December 7, 2023.

Bitcoin Eyes $45,000 as Price Consolidates Above $43K

Cryptos Newss

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