{"id":486769,"date":"2022-03-24T03:18:42","date_gmt":"2022-03-24T03:18:42","guid":{"rendered":"https:\/\/wncen.com\/?p=486769"},"modified":"2024-06-11T12:15:51","modified_gmt":"2024-06-11T12:15:51","slug":"bitcoin-revisits-43k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-revisits-43k\/","title":{"rendered":"TA: Bitcoin Revisits Breakout Zone, Can Bulls Make It?"},"content":{"rendered":"
Bitcoin started a fresh increase above the $42,500 resistance against the US Dollar. BTC may soon attempt an upside break above the $43,500 resistance zone.<\/em><\/p>\n Bitcoin price found support near the $42,000 zone after a downside correction<\/a>. BTC formed a base and started a fresh increase above the $42,500 resistance zone.<\/p>\n There was a clear move above the $42,800 level and the price settled above the 100 hourly simple moving average<\/a>. The price even spike above the $43,000 level and formed a high near $43,288. It is now consolidating near the $43,000 level.<\/p>\n There was a move below the 23.6% Fib retracement level of the recent wave from the $41,811 swing low to $43,288 high. Besides, there is a major bullish trend line forming with support near $42,300 on the hourly chart of the BTC\/USD pair.<\/p>\n On the upside, the price is facing resistance near the $43,300 level. The next major resistance could be near the $43,500 zone. A successful break and close above the $43,500 level might start another steady increase.<\/p>\n <\/a><\/p>\n In the stated case, the price might rise towards the $44,200 level. Any more gains could send the price towards the $45,000 level in the near term.<\/p>\n If bitcoin fails to clear the $43,500 resistance zone, it could correct further lower. An immediate support on the downside is near the $42,500 zone.<\/p>\n The next major support is seen near the trend line and $42,300. It is near the 61.8% Fib retracement level of the recent wave from the $41,811 swing low to $43,288 high. The main support is still near the $42,000 zone. A downside break below the $42,000 support zone could start a drop towards the $40,500 level.<\/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 $42,500, followed by $42,000.<\/p>\n Major Resistance Levels \u2013 $43,300, $43,400 and $44,200.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin started a fresh increase above the $42,500 resistance against the US Dollar. BTC may soon attempt an upside break above the $43,500 resistance zone. Bitcoin remained supported near $42,000 and started a fresh increase. The price is trading above $42,500 and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $42,300 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could accelerate higher if there is a clear move above the $43,300 resistance zone. Bitcoin Price Eyes Upside Break Bitcoin price found support near the $42,000 zone after a downside correction. BTC formed a base and started a fresh increase above the $42,500 resistance zone. There was a clear move above the $42,800 level and the price settled above the 100 hourly simple moving average. The price even spike above the $43,000 level and formed a high near $43,288. It is now consolidating near the $43,000 level. There was a move below the 23.6% Fib retracement level of the recent wave from the $41,811 swing low to $43,288 high. Besides, there is a major bullish trend line forming with support near $42,300 on the hourly chart of the BTC\/USD pair. On the upside, the price is facing resistance near the $43,300 level. The next major resistance could be near the $43,500 zone. A successful break and close above the $43,500 level might start another steady increase. Source: BTCUSD on TradingView.com In the stated case, the price might rise towards the $44,200 level. Any more gains could send the price towards the $45,000 level in the near term. Dips Limited in BTC? If bitcoin fails to clear the $43,500 resistance zone, it could correct further lower. An immediate support on the downside is near the $42,500 zone. The next major support is seen near the trend line and $42,300. It is near the 61.8% Fib retracement level of the recent wave from the $41,811 swing low to $43,288 high. The main support is still near the $42,000 zone. A downside break below the $42,000 support zone could start a drop towards the $40,500 level. 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 $42,500, followed by $42,000. Major Resistance Levels \u2013 $43,300, $43,400 and $44,200.<\/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-486769","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 Eyes Upside Break<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Dips Limited in BTC?<\/h2>\n