{"id":483702,"date":"2022-02-15T03:18:53","date_gmt":"2022-02-15T03:18:53","guid":{"rendered":"https:\/\/wncen.com\/?p=483702"},"modified":"2024-06-11T14:11:31","modified_gmt":"2024-06-11T14:11:31","slug":"bitcoin-needs-to-clear-43800","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-needs-to-clear-43800\/","title":{"rendered":"TA: Why Bitcoin Needs To Clear $43,800 For Hopes of a Fresh Rally"},"content":{"rendered":"
Bitcoin is recovering losses and trading above $43,000 against the US Dollar. BTC must clear $43,800 to continue higher in the near term.<\/em><\/p>\n Bitcoin price extended decline<\/a> below the $42,000 support zone. However, BTC found support above the $41,500 zone. A low was formed near $41,573 and the price started a decent recovery wave.<\/p>\n There was a break above the $42,000 and $42,500 resistance levels. The price climbed above the 23.6% Fib retracement level of the key decline from the $45,900 high to $41,570 low. Besides, there was a break above a key bearish trend line with resistance near $42,250 on the hourly chart of the BTC\/USD pair.<\/p>\n Bitcoin is now trading above $43,000 and the 100 hourly simple moving average<\/a>. It even broke the $43,500 resistance zone. However, the bulls are now facing resistance near the $43,800 zone.<\/p>\n <\/a><\/p>\n The 50% Fib retracement level of the key decline from the $45,900 high to $41,570 low is also near the $43,800 zone. A clear move above the $43,800 resistance zone might send the price further higher. The next major resistance is near $44,850, above which the price might rise towards the $45,500 resistance level.<\/p>\n If bitcoin fails to continue higher above the $43,800 resistance zone, it could start a downside correction. An immediate support on the downside is near the $43,200 zone.<\/p>\n The next major support is seen near the $42,850 level (the recent breakout zone). If there is a downside break below the $42,850 support zone, the price might start a fresh decline. The next support sits near $42,000, below which there is a risk of a new low below $41,570.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is now 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 $42,850.<\/p>\n Major Resistance Levels \u2013 $43,800, $44,850 and $45,500.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin is recovering losses and trading above $43,000 against the US Dollar. BTC must clear $43,800 to continue higher in the near term. Bitcoin found support near $41,600 and started a fresh upward move. The price is trading above $43,000 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $42,250 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could continue to rise if there is a clear move above the $43,800 resistance. Bitcoin Price Starts Recovery Bitcoin price extended decline below the $42,000 support zone. However, BTC found support above the $41,500 zone. A low was formed near $41,573 and the price started a decent recovery wave. There was a break above the $42,000 and $42,500 resistance levels. The price climbed above the 23.6% Fib retracement level of the key decline from the $45,900 high to $41,570 low. Besides, there was a break above a key bearish trend line with resistance near $42,250 on the hourly chart of the BTC\/USD pair. Bitcoin is now trading above $43,000 and the 100 hourly simple moving average. It even broke the $43,500 resistance zone. However, the bulls are now facing resistance near the $43,800 zone. Source: BTCUSD on TradingView.com The 50% Fib retracement level of the key decline from the $45,900 high to $41,570 low is also near the $43,800 zone. A clear move above the $43,800 resistance zone might send the price further higher. The next major resistance is near $44,850, above which the price might rise towards the $45,500 resistance level. Fresh Decline in BTC? If bitcoin fails to continue higher above the $43,800 resistance zone, it could start a downside correction. An immediate support on the downside is near the $43,200 zone. The next major support is seen near the $42,850 level (the recent breakout zone). If there is a downside break below the $42,850 support zone, the price might start a fresh decline. The next support sits near $42,000, below which there is a risk of a new low below $41,570. 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 $43,000, followed by $42,850. Major Resistance Levels \u2013 $43,800, $44,850 and $45,500.<\/p>\n","protected":false},"author":67,"featured_media":464001,"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-483702","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 Recovery<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Fresh Decline in BTC?<\/h2>\n