{"id":480782,"date":"2022-01-11T03:08:49","date_gmt":"2022-01-11T03:08:49","guid":{"rendered":"https:\/\/wncen.com\/?p=480782"},"modified":"2024-06-11T14:10:31","modified_gmt":"2024-06-11T14:10:31","slug":"bitcoin-bounces-to-42k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-bounces-to-42k\/","title":{"rendered":"TA: Bitcoin Bounces To $42K, Why BTC Could Recover To $43.5K"},"content":{"rendered":"<p><em>Bitcoin started a sharp recovery wave from $39,700 against the US Dollar. BTC is rising and the next major stop for the bulls might be $43,500.<\/em><\/p>\n<ul>\n<li>Bitcoin spiked towards the $39,600 level, where the bulls took a stand.<\/li>\n<li>The price is trading above $42,000 and the 100 hourly simple moving average.<\/li>\n<li>There was a break above a key bearish trend line with resistance near $41,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair might continue to recover and test the $43,500 resistance zone in the near term.<\/li>\n<\/ul>\n<h2>Bitcoin Price Recovers Sharply<\/h2>\n<p>Bitcoin price <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-case-for-more-downsides\/\" target=\"_blank\" rel=\"noopener \">extended decline<\/a> below the $40,500 support level. BTC even spiked below the $40,000 level and traded as low as $39,659.<\/p>\n<p>Recently, there was a sharp recovery wave above the $40,000 level. The price climbed higher above the $40,500 and $41,200 resistance levels. The bulls even pushed the price above the 50% Fib retracement level of the recent decline from the $42,739 swing high to $39,659 low.<\/p>\n<p>Besides, there was a break above a key bearish trend line with resistance near $41,800 on the hourly chart of the BTC\/USD pair. Bitcoin is now trading above $42,000 and the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-consolidates-below-45k\/\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/01\/Bitcoin-6.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-480783\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/01\/Bitcoin-6.png?resize=1950%2C1113\" alt=\"Bitcoin Price\" width=\"1950\" height=\"1113\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/01\/Bitcoin-6.png?w=1950 1950w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/01\/Bitcoin-6.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/01\/Bitcoin-6.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/01\/Bitcoin-6.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/01\/Bitcoin-6.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/01\/Bitcoin-6.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/01\/Bitcoin-6.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<pre>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/pre>\n<p>On the upside, the first major resistance is near the $42,750 level. The next major resistance is near the $43,500 level. It is near the 1.236 Fib extension level of the recent decline from the $42,739 swing high to $39,659 low. Any more gains could pump the price towards the $44,500 level. The next major resistance is near the $45,500 level, where the bears might emerge.<\/p>\n<h2>Fresh Decline in BTC?<\/h2>\n<p>If bitcoin fails to recover above $43,500, it could start a fresh decline. An immediate support on the downside is near the $41,800 zone and the 100 hourly SMA.<\/p>\n<p>The first major support is near $41,500 and the broken trend line. A downside break below the trend line support could lead the price towards the $41,000 level. Any more losses might push the price towards the $40,000 support zone in the coming sessions.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $41,500, followed by $40,500.<\/p>\n<p>Major Resistance Levels \u2013 $42,750, $43,000 and $43,500.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin started a sharp recovery wave from $39,700 against the US Dollar. BTC is rising and the next major stop for the bulls might be $43,500. Bitcoin spiked towards the $39,600 level, where the bulls took a stand. 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 $41,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair might continue to recover and test the $43,500 resistance zone in the near term. Bitcoin Price Recovers Sharply Bitcoin price extended decline below the $40,500 support level. BTC even spiked below the $40,000 level and traded as low as $39,659. Recently, there was a sharp recovery wave above the $40,000 level. The price climbed higher above the $40,500 and $41,200 resistance levels. The bulls even pushed the price above the 50% Fib retracement level of the recent decline from the $42,739 swing high to $39,659 low. Besides, there was a break above a key bearish trend line with resistance near $41,800 on the hourly chart of the BTC\/USD pair. Bitcoin is now trading above $42,000 and the 100 hourly simple moving average. Source: BTCUSD on TradingView.com On the upside, the first major resistance is near the $42,750 level. The next major resistance is near the $43,500 level. It is near the 1.236 Fib extension level of the recent decline from the $42,739 swing high to $39,659 low. Any more gains could pump the price towards the $44,500 level. The next major resistance is near the $45,500 level, where the bears might emerge. Fresh Decline in BTC? If bitcoin fails to recover above $43,500, it could start a fresh decline. An immediate support on the downside is near the $41,800 zone and the 100 hourly SMA. The first major support is near $41,500 and the broken trend line. A downside break below the trend line support could lead the price towards the $41,000 level. Any more losses might push the price towards the $40,000 support zone in the coming sessions. Technical indicators: Hourly MACD \u2013 The MACD is now 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 $41,500, followed by $40,500. Major Resistance Levels \u2013 $42,750, $43,000 and $43,500.<\/p>\n","protected":false},"author":67,"featured_media":462816,"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-480782","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<title>TA: Bitcoin Bounces To $42K, Why BTC Could Recover To $43.5K<\/title>\n<meta name=\"description\" content=\"Bitcoin started a sharp recovery wave from $39,700 against the US Dollar. 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Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation. As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.","sameAs":["https:\/\/www.linkedin.com\/in\/aayush-jindal-358b6932\/","https:\/\/x.com\/twitter.com\/AayushJs"],"url":"https:\/\/wncen.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"TA: Bitcoin Bounces To $42K, Why BTC Could Recover To $43.5K","url":"http:\/\/wncen.com\/news\/bitcoin-bounces-to-42k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-bounces-to-42k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/Depositphotos_180246254_s-2019.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/Depositphotos_180246254_s-2019.jpg?fit=1000%2C667"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btcusd","btcusdt","xbtusd"],"dateCreated":"2022-01-11T03:08:49Z","datePublished":"2022-01-11T03:08:49Z","dateModified":"2024-06-11T14:10:31Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Bitcoin Bounces To $42K, Why BTC Could Recover To $43.5K\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-bounces-to-42k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-bounces-to-42k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/Depositphotos_180246254_s-2019.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/Depositphotos_180246254_s-2019.jpg?fit=1000%2C667\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btcusd\",\"btcusdt\",\"xbtusd\"],\"dateCreated\":\"2022-01-11T03:08:49Z\",\"datePublished\":\"2022-01-11T03:08:49Z\",\"dateModified\":\"2024-06-11T14:10:31Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/Depositphotos_180246254_s-2019.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/480782"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=480782"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/480782\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/462816"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=480782"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=480782"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=480782"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}