Rally

Bitcoin

Resistance

Bitcoin price is gaining pace and trading above the $44,000 resistance. BTC could continue to rise once it clears the $44,500 and $45,000 resistance levels. 
<ul> 
 <li>Bitcoin started a decent increase above the $43,500 resistance zone.</li> 
 <li>The price is trading above $43,500 and the 100 hourly Simple moving average.</li> 
 <li>There is a key bullish trend line forming with support near $43,800 on the hourly chart of the BTC/USD pair (data feed from Kraken).</li> 
 <li>The pair could start a strong rally if there is a close above $44,300 and $44,500.</li> 
</ul> 
<h2 id="bitcoin-price-aims-higher">Bitcoin Price Aims Higher</h2> 
Bitcoin price settled above the <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-outperforms-43-5k/" target="_blank" rel="noopener ">$43,500 resistance zone</a> to move further into a bullish zone. BTC broke many hurdles and even spiked above the $44,000 level. 
It tested the $44,300 resistance zone. A high was formed near $44,300 and the price is now consolidating gains. The price corrected a few points below the $44,100 level. However, it is stable above the 23.6% Fib retracement level of the upward move from the $41,820 swing low to the $44,300 high. 
Bitcoin is now trading above $43,500 and the <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-rejects-43-5k/" target="_blank" rel="noopener ">100 hourly Simple moving average</a>. There is also a key bullish trend line forming with support near $43,800 on the hourly chart of the BTC/USD pair. 
On the upside, immediate resistance is near the $44,200 level. The first major resistance is forming near $44,300 and $44,500. A close above the $44,500 resistance could start a strong rally and the price could even clear the $45,000 resistance. 
<a href="https://www.newsbtc.com/wp-content/uploads/2023/12/Bitcoin-18.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-566471" src="https://www.newsbtc.com/wp-content/uploads/2023/12/Bitcoin-18.png?resize=1024%2C461" alt="Bitcoin Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2023/12/Bitcoin-18.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2023/12/Bitcoin-18.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2023/12/Bitcoin-18.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2023/12/Bitcoin-18.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2023/12/Bitcoin-18.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2023/12/Bitcoin-18.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2023/12/Bitcoin-18.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. Any more gains might send the price toward $48,000. 
<h2 id="fresh-decline-in-btc">Fresh Decline In BTC?</h2> 
If Bitcoin fails to rise above the $44,300 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $43,800 level and the trend line. 
The next major support is near $42,750 or the 61.8% Fib retracement level of the upward move from the $41,820 swing low to the $44,300 high. 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 $42,200 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 – $43,800, followed by $42,750. 
Major Resistance Levels – $44,300, $44,500, and $45,000.

Bitcoin Price Approaches Breakout – Why BTC Could Rally 10%

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Ďalšie články zverejnené 22. 12. 2023

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