{"id":472497,"date":"2021-09-27T03:08:21","date_gmt":"2021-09-27T03:08:21","guid":{"rendered":"https:\/\/wncen.com\/?p=472497"},"modified":"2024-06-11T08:30:36","modified_gmt":"2024-06-11T08:30:36","slug":"bitcoin-forms-bullish-pattern-45k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-forms-bullish-pattern-45k\/","title":{"rendered":"TA: Bitcoin Forms Bullish Pattern, Why BTC Could Rally above $45K"},"content":{"rendered":"
Bitcoin price stayed above the key $40,750 support zone against the US Dollar. BTC is rising and it could soon rally above the $45,000 resistance.<\/em><\/p>\n Bitcoin price struggled below the $43,000 level for a few sessions. BTC declined below $41,000, but the bulls protected the $40,750 zone. There were two attempts to clear $40,750, but the bears failed.<\/p>\n As a result, the price started a fresh increase<\/a> and it seems like it has formed a double bottom pattern near the $40,750 level. It is rising and it has cleared the $42,000 and $42,800 resistance levels. There was also a break above a connecting bearish trend line with resistance near $42,400 on the hourly chart of the BTC\/USD pair.<\/p>\n Bitcoin cleared the 50% Fib retracement level of the downward move from the $45,153 swing high to $40,750 swing low. It is now trading above $43,000 and the 100 hourly simple moving average<\/a>.<\/p>\n Besides, it is consolidating near the 76.4% Fib retracement level of the downward move from the $45,153 swing high to $40,750 swing low. On the upside, an immediate resistance is near the $44,800 level. The first major resistance is near the $45,000 level.<\/p>\n <\/a><\/p>\n A close above the $44,800 and $45,000 levels could start a steady increase. The next major resistance is near the $45,500 zone, above which the price could rise towards the $46,200 resistance.<\/p>\n If bitcoin fails to clear the $45,000 resistance zone, it could start a downside correction. An immediate support on the downside is near the $43,600 level.<\/p>\n The first major support is near the $43,200 zone and the 100 hourly simple moving average. Any more losses could lead the price towards the $42,000 support zone 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 $44,600, followed by $43,200.<\/p>\n Major Resistance Levels \u2013 $44,800, $45,000 and $45,500.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin price stayed above the key $40,750 support zone against the US Dollar. BTC is rising and it could soon rally above the $45,000 resistance. Bitcoin started a recovery wave above the $42,800 and $43,000 resistance levels. The price is now trading above $43,000 and the 100 hourly simple moving average. There was a break above a connecting bearish trend line with resistance near $42,400 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could accelerate higher once it clears the key $45,000 resistance zone. Bitcoin Price Starts Fresh Increase Bitcoin price struggled below the $43,000 level for a few sessions. BTC declined below $41,000, but the bulls protected the $40,750 zone. There were two attempts to clear $40,750, but the bears failed. As a result, the price started a fresh increase and it seems like it has formed a double bottom pattern near the $40,750 level. It is rising and it has cleared the $42,000 and $42,800 resistance levels. There was also a break above a connecting bearish trend line with resistance near $42,400 on the hourly chart of the BTC\/USD pair. Bitcoin cleared the 50% Fib retracement level of the downward move from the $45,153 swing high to $40,750 swing low. It is now trading above $43,000 and the 100 hourly simple moving average. Besides, it is consolidating near the 76.4% Fib retracement level of the downward move from the $45,153 swing high to $40,750 swing low. On the upside, an immediate resistance is near the $44,800 level. The first major resistance is near the $45,000 level. Source: BTCUSD on TradingView.com A close above the $44,800 and $45,000 levels could start a steady increase. The next major resistance is near the $45,500 zone, above which the price could rise towards the $46,200 resistance. Dips Limited In BTC? If bitcoin fails to clear the $45,000 resistance zone, it could start a downside correction. An immediate support on the downside is near the $43,600 level. The first major support is near the $43,200 zone and the 100 hourly simple moving average. Any more losses could lead the price towards the $42,000 support zone 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 $44,600, followed by $43,200. Major Resistance Levels \u2013 $44,800, $45,000 and $45,500.<\/p>\n","protected":false},"author":67,"featured_media":458948,"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-472497","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 Increase<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Dips Limited In BTC?<\/h2>\n