{"id":483107,"date":"2022-02-08T03:08:39","date_gmt":"2022-02-08T03:08:39","guid":{"rendered":"https:\/\/wncen.com\/?p=483107"},"modified":"2024-06-11T10:07:27","modified_gmt":"2024-06-11T10:07:27","slug":"bitcoin-is-surging-45k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-is-surging-45k\/","title":{"rendered":"TA: Bitcoin is Surging, Why Bulls Could Aim More Upsides"},"content":{"rendered":"
Bitcoin gained pace above the $42,000 resistance zone against the US Dollar. BTC is now surging and might even surpass the $45,000 resistance zone in the near term.<\/em><\/p>\n Bitcoin price gained bullish momentum<\/a> after there was a close above the $40,000 level. BTC even cleared the $42,000 resistance zone to move further into a positive zone.<\/p>\n The recent upward move gained pace above the $43,000 level. Finally, the price spiked above the $44,000 level and settled above the 100 hourly simple moving average<\/a>. A high is formed near $44,528 and the price is now consolidating gains.<\/p>\n It is trading above the 23.6% Fib retracement level of the recent increase from the $41,141 swing low to $44,528 high. There is also a connecting bullish trend line forming with support near $43,500 on the hourly chart of the BTC\/USD pair.<\/p>\n <\/a><\/p>\n On the upside, an immediate resistance is near the $44,500 level. The next major resistance is near the $45,000 zone. A clear upside break above the $45,000 resistance level could spark additional gain. In the stated case, the price could even rise towards the $46,500 resistance zone.<\/p>\n If bitcoin fails to start a fresh increase above $44,500, it could start a downside correction. An immediate support on the downside is near the $43,750 zone and the trend line. The first major support is seen near the $43,000 zone.<\/p>\n It is near the 50% Fib retracement level of the recent increase from the $41,141 swing low to $44,528 high. If there is a downside break below the $43,000 support, the price could slide towards the $41,200 support and the 100 hourly simple moving average.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is now gaining momentum in the bullish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 60 level.<\/p>\n Major Support Levels \u2013 $43,500, followed by $43,000.<\/p>\n Major Resistance Levels \u2013 $44,500, $45,000 and $46,500.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin gained pace above the $42,000 resistance zone against the US Dollar. BTC is now surging and might even surpass the $45,000 resistance zone in the near term. Bitcoin started a strong increase above the $42,000 resistance zone. The price is trading well above $42,000 and the 100 hourly simple moving average. There is a connecting bullish trend line forming with support near $43,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could continue to rise if it clears the $44,500 resistance zone in the near term. Bitcoin Price Rallies 5% Bitcoin price gained bullish momentum after there was a close above the $40,000 level. BTC even cleared the $42,000 resistance zone to move further into a positive zone. The recent upward move gained pace above the $43,000 level. Finally, the price spiked above the $44,000 level and settled above the 100 hourly simple moving average. A high is formed near $44,528 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the recent increase from the $41,141 swing low to $44,528 high. There is also a connecting bullish trend line forming with support near $43,500 on the hourly chart of the BTC\/USD pair. Source: BTCUSD on TradingView.com On the upside, an immediate resistance is near the $44,500 level. The next major resistance is near the $45,000 zone. A clear upside break above the $45,000 resistance level could spark additional gain. In the stated case, the price could even rise towards the $46,500 resistance zone. Dips Supported in BTC? If bitcoin fails to start a fresh increase above $44,500, it could start a downside correction. An immediate support on the downside is near the $43,750 zone and the trend line. The first major support is seen near the $43,000 zone. It is near the 50% Fib retracement level of the recent increase from the $41,141 swing low to $44,528 high. If there is a downside break below the $43,000 support, the price could slide towards the $41,200 support and the 100 hourly simple moving average. Technical indicators: Hourly MACD \u2013 The MACD is now gaining momentum in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 60 level. Major Support Levels \u2013 $43,500, followed by $43,000. Major Resistance Levels \u2013 $44,500, $45,000 and $46,500.<\/p>\n","protected":false},"author":67,"featured_media":458433,"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-483107","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 Rallies 5%<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Dips Supported in BTC?<\/h2>\n