TA: Why Bitcoin Needs To Clear $43,800 For Hopes of a Fresh Rally

2022-2-15 06:18

Bitcoin is recovering losses and trading above $43,000 against the US Dollar. BTC must clear $43,800 to continue higher in the near term.

Bitcoin found support near $41,600 and started a fresh upward move. The price is trading above $43,000 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $42,250 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to rise if there is a clear move above the $43,800 resistance. Bitcoin Price Starts Recovery

Bitcoin price extended decline below the $42,000 support zone. However, BTC found support above the $41,500 zone. A low was formed near $41,573 and the price started a decent recovery wave.

There was a break above the $42,000 and $42,500 resistance levels. The price climbed above the 23.6% Fib retracement level of the key decline from the $45,900 high to $41,570 low. Besides, there was a break above a key bearish trend line with resistance near $42,250 on the hourly chart of the BTC/USD pair.

Bitcoin is now trading above $43,000 and the 100 hourly simple moving average. It even broke the $43,500 resistance zone. However, the bulls are now facing resistance near the $43,800 zone.

Source: BTCUSD on TradingView.com

The 50% Fib retracement level of the key decline from the $45,900 high to $41,570 low is also near the $43,800 zone. A clear move above the $43,800 resistance zone might send the price further higher. The next major resistance is near $44,850, above which the price might rise towards the $45,500 resistance level.

Fresh Decline in BTC?

If bitcoin fails to continue higher above the $43,800 resistance zone, it could start a downside correction. An immediate support on the downside is near the $43,200 zone.

The next major support is seen near the $42,850 level (the recent breakout zone). If there is a downside break below the $42,850 support zone, the price might start a fresh decline. The next support sits near $42,000, below which there is a risk of a new low below $41,570.

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 – $43,000, followed by $42,850.

Major Resistance Levels – $43,800, $44,850 and $45,500.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 96921.5 (-0.01%)
Объем 24H $40.701b
Изменеия 24h: -0.42 %, 7d: -5.71 %
Cегодня L: $96041.94 - H: $97458.26
Капитализация $1919.009b Rank 1
Цена в час новости $ 44222.95 (119.17%)

bitcoin near fresh clear higher continue btc

Источник: newsbtc.com

bitcoin near → Результатов: 126


Фото:

Exchanges Round-Up: CME Rejects Altcoins, Waves DEX Hacked on Launch

In recent news pertaining to cryptocurrency exchanges, the CEO of Chicago Mercantile Exchange (CME) has indicated that the company has no intentions of introducing derivative markets for alternative cryptocurrencies in the near futures; Waves’ decentralized exchange was hacked upon launch; and the founder Pakcoin has attributed Pakistan’s slow rate of cryptocurrency adoption to low literacy […] The post Exchanges Round-Up: CME Rejects Altcoins, Waves DEX Hacked on Launch appeared first on Bitcoin News.

2018-7-28 01:15


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

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.

Bitcoin Price Dips Again: Is The Momentum Shifting?

Bitcoin price started another decline and traded below the $98,000 support. BTC dipped toward the $95,000 level and is currently correcting losses. Bitcoin started a fresh decline below the $98,000 support zone.