Bitcoin

Resistance

Bitcoin price is consolidating above the $42,500 support zone. BTC could gain bullish momentum if it clears the $43,500 resistance zone. 
<ul> 
 <li>Bitcoin price is still struggling to clear the $43,400 and $43,500 resistance levels.</li> 
 <li>The price is trading above $42,500 and the 100 hourly Simple moving average.</li> 
 <li>There is a key rising channel forming with support at $42,450 on the hourly chart of the BTC/USD pair (data feed from Kraken).</li> 
 <li>The pair could start a strong increase if it clears the $43,500 resistance zone.</li> 
</ul> 
<h2 id="bitcoin-price-aims-higher">Bitcoin Price Aims Higher</h2> 
Bitcoin price formed a base above the $41,800 level and <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-aims-higher-45000/" target="_blank" rel="noopener ">started a steady increase</a>. BTC was able to clear the $42,200 and $42,500 resistance levels. 
It also reclaimed the 100 hourly Simple moving average. The price climbed above the 50% Fib retracement level of the downward move from the $43,488 swing high to the $42,320 low. The bulls even pushed the price above the $43,000 level. 
However, the bears seem to be active near the $43,200 level. It is near the 76.4% Fib retracement level of the downward move from the $43,488 swing high to the $42,320 low. 
Bitcoin is now trading above $42,650 and the <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-stuck-range-42250/" target="_blank" rel="noopener ">100 hourly Simple moving average</a>. Immediate resistance is near the $43,200 level. The next key resistance could be $43,500, above which the price could start a decent increase. The next stop for the bulls may perhaps be $44,200. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_e47a2b.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-573725" src="https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_e47a2b.png?resize=1024%2C461" alt="Bitcoin Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_e47a2b.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_e47a2b.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_e47a2b.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_e47a2b.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_e47a2b.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_e47a2b.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_e47a2b.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> 
A clear move above the $44,200 resistance could send the price toward the $45,000 resistance. 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="another-decline-in-btc">Another Decline In BTC?</h2> 
If Bitcoin fails to rise above the $43,500 resistance zone, it could start another decline. Immediate support on the downside is near the $42,900 level and the 100 hourly SMA. 
The first major support is $42,450 and the channel trend line. If there is a close below $42,450, the price could gain bearish momentum. In the stated case, the price could dive toward the $41,800 support. 
Technical indicators: 
Hourly MACD – The MACD is now losing 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 $42,450. 
Major Resistance Levels – $43,200, $43,400, and $43,500.

Bitcoin Price Reclaims 100 SMA But Can Bulls Clear This Hurdle

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