Bitcoin

Strong

Resistance

Bitcoin price corrected lower and tested the $42,800 support zone. BTC is now showing positive signs and might attempt a fresh surge above $44,000. 
<ul> 
 <li>Bitcoin is holding gains above the $42,500 pivot level.</li> 
 <li>The price is trading above $42,800 and the 100 hourly Simple moving average.</li> 
 <li>There is a key bullish trend line forming with support near $42,900 on the hourly chart of the BTC/USD pair (data feed from Kraken).</li> 
 <li>The pair is likely setting up for a fresh increase above the $44,000 level.</li> 
</ul> 
<h2 id="bitcoin-price-eyes-fresh-increase">Bitcoin Price Eyes Fresh Increase</h2> 
Bitcoin price started a <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-consolidates-45k/" target="_blank" rel="noopener ">downside correction</a> below the $44,000 level. BTC declined below the $43,500 level, but the bulls remained active. The price found bids near the 50% Fib retracement level of the upward move from the $41,427 swing low to the $44,465 high. 
Bitcoin is still trading above $42,800 and the <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-surges-45k/" target="_blank" rel="noopener ">100 hourly Simple moving average</a>. There is also a key bullish trend line forming with support near $42,900 on the hourly chart of the BTC/USD pair. 
The price is now rising and showing positive signs above the $43,000 level. On the upside, immediate resistance is near the $44,200 level. The first major resistance is forming near $44,450, above which the price might gain bullish momentum and rise toward $45,000. 
<a href="https://www.newsbtc.com/wp-content/uploads/2023/12/Bitcoin-6.png?resize=1024%2C468"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-564628" src="https://www.newsbtc.com/wp-content/uploads/2023/12/Bitcoin-6.png?resize=1024%2C468" alt="Bitcoin Price" width="1024" height="468" srcset="https://www.newsbtc.com/wp-content/uploads/2023/12/Bitcoin-6.png?resize=1024%2C468?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2023/12/Bitcoin-6.png?resize=1024%2C468?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2023/12/Bitcoin-6.png?resize=1024%2C468?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2023/12/Bitcoin-6.png?resize=1024%2C468?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2023/12/Bitcoin-6.png?resize=1024%2C468?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2023/12/Bitcoin-6.png?resize=1024%2C468?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2023/12/Bitcoin-6.png?resize=1024%2C468?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
Source: <a href="https://www.tradingview.com/symbols/BTCUSD/" target="_blank" rel="noopener nofollow">BTCUSD on TradingView.com</a> 
A close above the $45,000 resistance might start a strong upward move. The next key resistance could be near $46,000, above which BTC could rise toward the $47,200 level. 
<h2 id="are-dips-limited-in-btc">Are Dips Limited In BTC?</h2> 
If Bitcoin fails to rise above the $44,450 resistance zone, it could start another decline. Immediate support on the downside is near the $42,900 level and the trend line. 
The next major support is near $42,580 or the 61.8% Fib retracement level of the upward move from the $41,427 swing low to the $44,465 high, below which the price might test the $42,150 zone. If there is a move below $42,150, there is a risk of more downsides. In the stated case, the price could drop toward the $41,500 support in the near term. 
Technical indicators: 
Hourly MACD – The MACD is now gaining pace in the bullish zone. 
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. 
Major Support Levels – $42,900, followed by $42,150. 
Major Resistance Levels – $44,250, $44,450, and $45,000.

Bitcoin Price Remains Strong and Eyes Fresh Surge Above $44K

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