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

목차

NewsBTC

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