Bitcoin price is gaining pace above the $42,500 resistance. BTC is showing positive signs and might extend its increase toward the $45,000 resistance. 
<ul> 
 <li>Bitcoin price is moving higher above the $42,500 resistance zone.</li> 
 <li>The price is trading above $43,000 and the 100 hourly Simple moving average.</li> 
 <li>There is a major bullish trend line forming with support near $42,150 on the hourly chart of the BTC/USD pair (data feed from Kraken).</li> 
 <li>The pair could continue to rise if it clears the $43,800 and $44,200 resistance levels.</li> 
</ul> 
<h2 id="bitcoin-price-climbs-higher">Bitcoin Price Climbs Higher</h2> 
Bitcoin price started a decent increase above the <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-restarts-increase-45k/" target="_blank" rel="noopener ">$41,200 resistance zone</a>. BTC was able to clear the $42,500 and $42,800 resistance levels to move further into a positive zone. 
The bulls pushed the price above the $43,000 resistance and the price pumped toward $43,800. A new weekly high is formed near $43,779 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the upward move from the $41,651 swing low to the $43,779 high. 
Bitcoin is now trading above $43,000 and the <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-eyes-recovery-40250/" target="_blank" rel="noopener ">100 hourly Simple moving average</a>. There is also a major bullish trend line forming with support near $42,150 on the hourly chart of the BTC/USD pair. The trend line is near the 76.4% Fib retracement level of the upward move from the $41,651 swing low to the $43,779 high. 
Immediate resistance is near the $43,800 level. The next key resistance could be $44,200, above which the price could rise and test $44,500. A clear move above the $44,500 resistance could send the price toward the $45,000 resistance. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/01/Bitcoin_03f586.png?resize=1024%2C449"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-572226" src="https://www.newsbtc.com/wp-content/uploads/2024/01/Bitcoin_03f586.png?resize=1024%2C449" alt="Bitcoin Price" width="1024" height="449" srcset="https://www.newsbtc.com/wp-content/uploads/2024/01/Bitcoin_03f586.png?resize=1024%2C449?w=1950 1950w, https://www.newsbtc.com/wp-content/uploads/2024/01/Bitcoin_03f586.png?resize=1024%2C449?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/01/Bitcoin_03f586.png?resize=1024%2C449?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/01/Bitcoin_03f586.png?resize=1024%2C449?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/01/Bitcoin_03f586.png?resize=1024%2C449?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/01/Bitcoin_03f586.png?resize=1024%2C449?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/01/Bitcoin_03f586.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 next resistance is now forming near the $45,500 level. A close above the $45,500 level could push the price further higher. The next major resistance sits at $46,500. 
<h2 id="are-dips-limited-in-btc">Are Dips Limited In BTC?</h2> 
If Bitcoin fails to rise above the $43,800 resistance zone, it could start a downside correction. Immediate support on the downside is near the $43,200 level. 
The next major support is $42,500. The main support could be $42,200 and the trend line. If there is a close below $42,200, the price could gain bearish momentum. In the stated case, the price could dive toward the $40,650 support. 
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 – $43,200, followed by $42,500. 
Major Resistance Levels – $43,800, $44,500, and $45,000.

Bitcoin Price Regains Strength As The Bulls Aim For Retest of $45K

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