TA: Bitcoin Rallies Over 12%, Why This Could Be Major Trend Change

2022-3-1 05:48

Bitcoin broke the key $40,000 resistance zone against the US Dollar. BTC is up over 12% and might continue to rise above the $43,000 level.

Bitcoin surged above a few key hurdles near the $40,000 resistance zone. The price is trading above $42,000 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $38,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair has moved into a bullish zone and might accelerate higher towards $45,000. Bitcoin Price Surges

Bitcoin price remained in a positive zone above the $38,00- pivot level. BTC was able to start a major increase after it cleared the $38,800 resistance zone.

There was a break above a key bearish trend line with resistance near $38,000 on the hourly chart of the BTC/USD pair. It opened the doors for a sharp increase above the $40,000 resistance and the 100 hourly simple moving average.

The price rallied over 10% and there was a clear move above the $42,000 resistance zone. It even cleared the $43,000 level and traded as high as $44,192.

Bitcoin is now consolidating and trading well above the 23.6% Fib retracement level of the upward move from the $37,029 swing low to $44,192 high. On the upside, an immediate resistance is near the $44,000 level. The first key resistance is near the $44,200 level.

Source: BTCUSD on TradingView.com

The main resistance is now near the $44,500 level. A clear move above the $44,500 resistance could send the price further higher. In the stated case, it could even attempt a clear move above $45,000.

Dips Limited in BTC?

If bitcoin fails to clear the $44,200 resistance zone, it could start a downside correction. An immediate support on the downside is near the $43,000 zone.

The next major support is seen near the $42,500 level. If there is a downside break below the $42,500 support, the price might gain bearish momentum towards $40,500. It is near the 50% Fib retracement level of the upward move from the $37,029 swing low to $44,192 high.

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 correcting from the overbought zone.

Major Support Levels – $43,000, followed by $42,500.

Major Resistance Levels – $44,000, $44,200 and $45,000.

origin »

Bitcoin (BTC) на Currencies.ru

$ 94697.26 (-0.65%)
Объем 24H $53.856b
Изменеия 24h: 3.01 %, 7d: -3.87 %
Cегодня L: $91951.2 - H: $95752.95
Капитализация $1875.366b Rank 1
Цена в час новости $ 43143.88 (119.49%)

bitcoin key resistance above zone rise continue

Источник: newsbtc.com

bitcoin key → Результатов: 126


Фото:

Bitcoin Breaks Below Key Bullish Trendline as Analysts Eye Move to $18,400

Bitcoin has been showing some serious signs of strength throughout the past few days and weeks Bulls have been in full control of the cryptocurrency’s price action, but are starting to lose their edge over bears as the crypto drifts lower Where it trends in the mid-term will depend largely on whether or not buyers can defend against a break below $18,600 One trader is pointing to this as the first key support level it […]

2020-12-9 21:00


Фото:

Bitcoin is About to Start a Fresh Macro Bull Cycle Once It Captures Key Level

Bitcoin has been able to maintain the bulk of the gains that came about during yesterday’s intense upswing Buyers are still struggling to firmly surmount the key $10,000 region, however, as it appears that bears have established heavy resistance here The cryptocurrency could still be on the cusp of entering a macro bull-cycle, and one analyst is noting that the key level that needs to be shattered exists just above BTC’s current price Bitcoin has […]

2020-5-9 21:00


Фото:

Bitcoin Expert Warns Of A Looming Drop

Yesterday, the price of Bitcoin dropped below the $6,500 mark as it fell below a key price point. According to this crypto expert, this is a sign that there is a looming drop round the corner for the crypto… Despite only a small drop, the price of Bitcoin fell below a crucial price point which is known as a ‘horizontal support’ which could very well be a sign that a significant drop is going to happen.

2018-10-4 13:00


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Price Under Pressure: Could The Slide Continue?

Bitcoin price extended losses and traded below the $100,000 zone. BTC is showing bearish signs and might continue to move down toward the $91,200 support zone. Bitcoin started a fresh decline from the $100,000 resistance zone.

Bitcoin Decline Continues: Are Bulls Losing Control?

Bitcoin price extended losses and traded below the $100,000 zone. BTC is struggling and might continue to move down toward the $92,000 support zone. Bitcoin started a fresh decline from the $102,000 resistance zone.

Bitcoin Price Struggles at $100K: Is The Rally Losing Steam?

Bitcoin price struggled to clear the $102,000 resistance zone. BTC is correcting gains and might test the $97,500 support zone. Bitcoin started a downside correction from the $102,000 zone. The price is trading above $98,000 and the 100 hourly Simple moving average.