Bitcoin

Resistance

Bitcoin price is gaining pace above the $44,000 resistance. BTC could rise further if it clears the $44,800 resistance zone in the near term. 
<ul> 
 <li>Bitcoin price was able to surpass the $43,400 and $43,500 resistance levels.</li> 
 <li>The price is trading above $44,000 and the 100 hourly Simple moving average.</li> 
 <li>There was a break above a major rising channel with resistance at $43,650 on the hourly chart of the BTC/USD pair (data feed from Kraken).</li> 
 <li>The pair could continue to move up if it clears the $44,800 resistance zone.</li> 
</ul> 
<h2 id="bitcoin-price-starts-fresh-increase">Bitcoin Price Starts Fresh Increase</h2> 
Bitcoin price remained well-bid above the $42,500 level. BTC started a fresh increase above the <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-reclaims-42500/" target="_blank" rel="noopener ">$43,400 and $43,500 resistance levels</a>. Besides, there was a break above a major rising channel with resistance at $43,650 on the hourly chart of the BTC/USD pair. 
The pair even surged above the $44,000 resistance zone. It traded to a new weekly high at $44,780 and is currently consolidating gains. It is trading above the 23.6% Fib retracement level of the upward move from the $42,767 swing low to the $44,780 high. 
Bitcoin is now trading above $44,000 and the <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-aims-higher-45000/" target="_blank" rel="noopener ">100 hourly Simple moving average</a>. Immediate resistance is near the $44,800 level. The next key resistance could be $45,000, above which the price could start another decent increase. The next stop for the bulls may perhaps be $45,750. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_96ccf1.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-573900" src="https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_96ccf1.png?resize=1024%2C461" alt="Bitcoin Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_96ccf1.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_96ccf1.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_96ccf1.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_96ccf1.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_96ccf1.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_96ccf1.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin_96ccf1.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 $45,750 resistance could send the price toward the $46,500 resistance. The next resistance could be near the $47,200 level. A close above the $47,200 level could push the price further higher. The next major resistance sits at $48,500. 
<h2 id="downside-correction-in-btc">Downside Correction In BTC?</h2> 
If Bitcoin fails to rise above the $44,800 resistance zone, it could start a downside correction. Immediate support on the downside is near the $44,300 level. 
The first major support is $43,750 and the 50% Fib retracement level of the upward move from the $42,767 swing low to the $44,780 high. If there is a close below $43,750, the price could gain bearish momentum. In the stated case, the price could dive toward the $43,000 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 – $44,300, followed by $43,750. 
Major Resistance Levels – $44,800, $45,750, and $45,500.

Bitcoin Price Surges Past Resistance, Is This The Start of Fresh Uptrend?

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