Bitcoin

Resistance

Bitcoin price is moving higher and recently broke the $43,500 resistance. BTC is still in a strong uptrend and might gain pace for a move above $45,000. 
<ul> 
 <li>Bitcoin extended its increase and climbed above the $43,500 resistance zone.</li> 
 <li>The price is trading above $43,000 and the 100 hourly Simple moving average.</li> 
 <li>There is a connecting bullish trend line forming with support near $43,100 on the hourly chart of the BTC/USD pair (data feed from Kraken).</li> 
 <li>The pair could continue to move up if there is a close above $44,500 and $45,000.</li> 
</ul> 
<h2 id="bitcoin-price-regains-strength">Bitcoin Price Regains Strength</h2> 
Bitcoin price remained stable above the $42,000 resistance zone. BTC gained bullish momentum and climbed above the $43,000 resistance zone. It even cleared the key <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-rejects-43-5k/" target="_blank" rel="noopener ">$43,500 barrier</a>. 
Finally, the price tested the $44,300 level. A high is formed near $44,300 and the price is now correcting gains. There was a minor decline below the $44,000 level. The price dipped below the 23.6% Fib retracement level of the recent increase from the $41,828 swing low to the $44,300 high. 
Bitcoin is now trading above $43,000 and the <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-rallies-43500/" target="_blank" rel="noopener ">100 hourly Simple moving average</a>. There is also a connecting bullish trend line forming with support near $43,100 on the hourly chart of the BTC/USD pair. 
The current price action and the recent breakout calls for more gains. On the upside, immediate resistance is near the $44,000 level. The first major resistance is forming near $44,300 and $44,500. A close above the $44,500 resistance could set the pace for a move above $45,000. 
<a href="https://www.newsbtc.com/wp-content/uploads/2023/12/Bitcoin-16.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-566263" src="https://www.newsbtc.com/wp-content/uploads/2023/12/Bitcoin-16.png?resize=1024%2C461" alt="Bitcoin Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2023/12/Bitcoin-16.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2023/12/Bitcoin-16.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2023/12/Bitcoin-16.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2023/12/Bitcoin-16.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2023/12/Bitcoin-16.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2023/12/Bitcoin-16.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2023/12/Bitcoin-16.png?resize=1024%2C461?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> 
The next key resistance could be near $46,500, above which BTC could rise toward the $47,200 level. The next major target for the bulls could be $48,000. 
<h2 id="another-decline-in-btc">Another Decline In BTC?</h2> 
If Bitcoin fails to rise above the $44,500 resistance zone, it could continue to move down. Immediate support on the downside is near the $43,200 level. 
The next major support is near $43,000 or the 50% Fib retracement level of the recent increase from the $41,828 swing low to the $44,300 high. If there is a move below $43,000, there is a risk of more losses. In the stated case, the price could drop toward the $42,000 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 – $43,100, followed by $43,000. 
Major Resistance Levels – $44,300, $44,500, and $45,000.

Bitcoin Price Outperforms – Key Reasons Why Bulls Still Aim $48K

Table of Contents

NewsBTC

Other articles published on Dec 21, 2023

QCP Capital doubted market hype after spot Bitcoin ETFs launch

May’s Top Performing and Underperforming Cryptocurrencies

Coinbase secures French market regulator's approval

Presale Retik Finance (RETIK) Raih US$1,4 Juta

Cryptocurrency Market Rises Again with Increased ETF Expectations

Bitcoin Price To Top $50,000 if SEC Approves Spot ETFs: Report

Join our free newsletter for daily crypto updates!