{"id":472262,"date":"2021-09-23T03:08:34","date_gmt":"2021-09-23T03:08:34","guid":{"rendered":"https:\/\/wncen.com\/?p=472262"},"modified":"2024-06-11T13:58:52","modified_gmt":"2024-06-11T13:58:52","slug":"bitcoin-prints-bullish-pattern-44k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-prints-bullish-pattern-44k\/","title":{"rendered":"TA: Bitcoin Prints Bullish Pattern, Why Close Above $44K Is Critical"},"content":{"rendered":"
Bitcoin price started a decent increase above the $42,000 level against the US Dollar. BTC is now eyeing a key upside break above the $44,000 resistance zone.<\/em><\/p>\n Bitcoin price remained well bid above the $42,000 level. BTC formed a support base<\/a> and started a decent increase above the $42,500 level.<\/p>\n There was a break above a major bearish trend line with resistance near $42,500 on the hourly chart of the BTC\/USD pair. The pair climbed higher above the $43,000 and $43,500 resistance levels. It even tested the $44,000 level.<\/p>\n However, the bulls are struggling to gain strength above $44,000. Bitcoin is still trading below $44,000 and the 100 hourly simple moving average<\/a>. A high is formed near $44,024 and the price is now consolidating gains.<\/p>\n It even tested the 23.6% Fib retracement level of the recent increase from the $39,579 swing low to $44,024 high. On the upside, an immediate resistance is near the $44,000 level. The first major resistance is near the $44,200 level and the 100 hourly simple moving average.<\/p>\n <\/a><\/p>\n A clear break above the $44,000 and $44,200 levels could start a strong increase. The next major resistance is near the $45,000 zone, above which the price could rise towards the $47,000 resistance.<\/p>\n If bitcoin fails to clear the $44,000 resistance zone, it could start a fresh decline. An immediate support on the downside is near the $43,000 level.<\/p>\n The next major support is near the $42,000 zone. The 50% Fib retracement level of the recent increase from the $39,579 swing low to $44,024 high is also near the $42,000 zone. A downside break below the $42,000 zone could start a fresh decline. In the stated case, the price could even revisit the $40,000 level in the near term.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is slowly gaining pace in the bullish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n Major Support Levels \u2013 $43,000, followed by $42,000.<\/p>\n Major Resistance Levels \u2013 $44,000, $44,200 and $45,000.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin price started a decent increase above the $42,000 level against the US Dollar. BTC is now eyeing a key upside break above the $44,000 resistance zone. Bitcoin started a recovery wave above the $42,000 and $43,000 resistance levels. The price is still trading below $44,000 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $42,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could accelerate higher if there is a clear break above $44,000. Bitcoin Price Starts Fresh Recovery Bitcoin price remained well bid above the $42,000 level. BTC formed a support base and started a decent increase above the $42,500 level. There was a break above a major bearish trend line with resistance near $42,500 on the hourly chart of the BTC\/USD pair. The pair climbed higher above the $43,000 and $43,500 resistance levels. It even tested the $44,000 level. However, the bulls are struggling to gain strength above $44,000. Bitcoin is still trading below $44,000 and the 100 hourly simple moving average. A high is formed near $44,024 and the price is now consolidating gains. It even tested the 23.6% Fib retracement level of the recent increase from the $39,579 swing low to $44,024 high. On the upside, an immediate resistance is near the $44,000 level. The first major resistance is near the $44,200 level and the 100 hourly simple moving average. Source: BTCUSD on TradingView.com A clear break above the $44,000 and $44,200 levels could start a strong increase. The next major resistance is near the $45,000 zone, above which the price could rise towards the $47,000 resistance. Dips Limited In BTC? If bitcoin fails to clear the $44,000 resistance zone, it could start a fresh decline. An immediate support on the downside is near the $43,000 level. The next major support is near the $42,000 zone. The 50% Fib retracement level of the recent increase from the $39,579 swing low to $44,024 high is also near the $42,000 zone. A downside break below the $42,000 zone could start a fresh decline. In the stated case, the price could even revisit the $40,000 level in the near term. Technical indicators: Hourly MACD \u2013 The MACD is slowly gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level. Major Support Levels \u2013 $43,000, followed by $42,000. Major Resistance Levels \u2013 $44,000, $44,200 and $45,000.<\/p>\n","protected":false},"author":67,"featured_media":462274,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1144,78790,76835],"class_list":["post-472262","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n\n
Bitcoin Price Starts Fresh Recovery<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Dips Limited In BTC?<\/h2>\n