{"id":471636,"date":"2021-09-15T03:08:00","date_gmt":"2021-09-15T03:08:00","guid":{"rendered":"https:\/\/wncen.com\/?p=471636"},"modified":"2024-06-11T13:58:37","modified_gmt":"2024-06-11T13:58:37","slug":"bitcoin-case-break-above-48k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-case-break-above-48k\/","title":{"rendered":"TA: Bitcoin Indicators Suggest Strengthening Case For Break Above $48K"},"content":{"rendered":"
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.<\/em><\/p>\n Bitcoin price remained well bid above the $45,000 level. As a result, BTC started a fresh increase above the $46,000 resistance zone<\/a> and the 100 hourly simple moving average.<\/p>\n 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.<\/p>\n 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.<\/p>\n <\/a><\/p>\n 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.<\/p>\n 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.<\/p>\n\n
Bitcoin Price Starts Fresh Increase<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Dips Supported In BTC?<\/h2>\n