TA: Bitcoin Indicators Suggest Strengthening Case For Break Above $48K

2021-9-15 06:08

Bitcoin price started a decent increase above the $46,000 resistance against the US Dollar. BTC is now back above $47,000, but it is facing hurdles near $47,600.

Bitcoin started a steady increase above the $45,600 and $46,200 resistance levels. The price is now trading above $46,500 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $46,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must clear the $47,500 resistance zone to continue higher in the near term. Bitcoin Price Starts Fresh Increase

Bitcoin price remained well bid above the $45,000 level. As a result, BTC started a fresh increase above the $46,000 resistance zone and the 100 hourly simple moving average.

The price broke the $46,200 and $46,500 resistance levels. There was also a break above a key bearish trend line with resistance near $46,000 on the hourly chart of the BTC/USD pair. The pair was able to climb above the $47,000 resistance zone.

It is now facing resistance near the $47,500 zone. A high is formed near $47,464 and bitcoin price is now consolidating gains. It is currently well above the 23.6% Fib retracement level of the upward move from the $43,374 swing low to $47,464 high.

Source: BTCUSD on TradingView.com

An immediate resistance on the upside is near the $47,400 level. The main resistance is now near the $47,500 zone. To continue higher, bitcoin must clear the $47,500 resistance. The next major resistance is near the $48,000 level, above which the price could rise towards the key $50,000 resistance in the near term.

Dips Supported In BTC?

If bitcoin fails to clear the $47,500 resistance zone, it could start a downside correction. An immediate support on the downside is near the $46,500 level. The first major support is near the $46,000 level.

The next key support seems to be forming near the $45,400 level and the 100 hourly simple moving average. It is close to the 50% Fib retracement level of the upward move from the $43,374 swing low to $47,464 high.

Technical indicators:

Hourly MACD – The MACD is slowly losing pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now well above the 50 level.

Major Support Levels – $46,500, followed by $45,400.

Major Resistance Levels – $47,500, $48,000 and $49,200.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 99475.82 (+0.66%)
Объем 24H $95.362b
Изменеия 24h: 2.26 %, 7d: 13.04 %
Cегодня L: $97827.07 - H: $99484.42
Капитализация $1968.208b Rank 1
Цена в час новости $ 48046.33 (107.04%)

above bitcoin resistance increase started 200 levels

above bitcoin → Результатов: 126


Bitcoin Dogs price: What’s the outlook as BTC spikes above $68k?

Bitcoin Dogs rose 30% in two weeks before paring gains. Bitcoin price is back above $68,000 after last week’s slip halted bulls’ momentum. With BTC regaining control above $68k, could this spark Bitcoin Dogs price? New upside momentum has pushed Bitcoin (BTC) above $68,500 following last week’s sharp decline that saw bears reject movement above […] The post Bitcoin Dogs price: What’s the outlook as BTC spikes above $68k? appeared first on CoinJournal.

2024-10-29 14:05


Фото:

Bitcoin’s climb above $60k causes futures open interest to surge $2B in a day

Bitcoin’s breakout above $60,000 seems to have triggered a new spark of optimism among traders. The market has been flat for most of August after experiencing a significant drop at the beginning of the month, which is why the relatively slight price increase above the $60,000 threshold was enough to inject the market with a […] The post Bitcoin’s climb above $60k causes futures open interest to surge $2B in a day appeared first on CryptoSlate.

2024-8-23 05:00