Bitcoin

Resistance

Bitcoin price found support and started a decent increase above $43,000. BTC is rising, but it might struggle to clear the $44,300 and $44,500 resistance levels. 
<ul> 
 <li>Bitcoin tested the $41,650 zone an started a fresh increase.</li> 
 <li>The price is trading above $43,000 and the 100 hourly Simple moving average.</li> 
 <li>There was a break above a connecting bearish trend line with resistance near $43,350 on the hourly chart of the BTC/USD pair (data feed from Kraken).</li> 
 <li>The pair could continue to move surge toward the main resistance at $44,300.</li> 
</ul> 
<h2 id="bitcoin-price-restarts-increase">Bitcoin Price Restarts Increase</h2> 
Bitcoin price was able to <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-faces-rejection-43500/" target="_blank" rel="noopener ">find bids above the $41,500 level</a>. BTC formed a base and recently started a fresh increase from the $41,637 low. There was a steady increase above the $42,500 resistance zone. 
There was a break above a connecting bearish trend line with resistance near $43,350 on the hourly chart of the BTC/USD pair. The pair even climbed above the 61.8% Fib retracement level of the downward move from the $44,429 swing high to the $41,636 low. 
Bitcoin is now trading above $43,000 and the <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-eyes-45k/" target="_blank" rel="noopener ">100 hourly Simple moving average</a>. On the upside, immediate resistance is near the $43,780 level. It is close to the 76.4% Fib retracement level of the downward move from the $44,429 swing high to the $41,636 low. 
<a href="https://www.newsbtc.com/wp-content/uploads/2023/12/Bitcoin-22.png?resize=1024%2C449"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-567192" src="https://www.newsbtc.com/wp-content/uploads/2023/12/Bitcoin-22.png?resize=1024%2C449" alt="Bitcoin Price" width="1024" height="449" srcset="https://www.newsbtc.com/wp-content/uploads/2023/12/Bitcoin-22.png?resize=1024%2C449?w=1950 1950w, https://www.newsbtc.com/wp-content/uploads/2023/12/Bitcoin-22.png?resize=1024%2C449?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2023/12/Bitcoin-22.png?resize=1024%2C449?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2023/12/Bitcoin-22.png?resize=1024%2C449?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2023/12/Bitcoin-22.png?resize=1024%2C449?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2023/12/Bitcoin-22.png?resize=1024%2C449?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2023/12/Bitcoin-22.png?resize=1024%2C449?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 first major resistance is $44,000. The main hurdle sits at $44,300. A close above the $44,300 resistance could start a decent move toward the $45,000 level. The next key resistance could be near $45,500, above which BTC could rise toward the $46,500 level. 
<h2 id="another-rejection-in-btc">Another Rejection In BTC?</h2> 
If Bitcoin fails to rise above the $44,000 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $43,350 level. 
The next major support is near $42,750. If there is a move below $42,750, 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 – $43,350, followed by $42,750. 
Major Resistance Levels – $43,750, $44,000, and $44,300.

Bitcoin Price Regains Strength – Why BTC Could Still Remain In Range Before 2024

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