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.
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 the $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.
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 afresh increase above $44,500, it could start a downside correction. 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 – The MACD is now gaining momentum in the bullish zone.
- Hourly RSI – The RSI for BTC/USD is now above the 60 level.
- Major Support Levels – $43,500, followed by $43,000.
- Major Resistance Levels – $44,500, $45,000 and $46,500.
- It's important to keep in mind that cryptocurrency markets are extremely volatile, making it difficult to accurately predict what a coin’s price will be in a few hours or a few days and even harder to give long-term estimates. As such, analysts and online forecasting sites can get their predictions wrong. We recommend that you always do your own research and consider the latest market trends, news, technical and fundamental analysis, and expert opinion before making any investment decisions. Be patient and look long-term wisely and never invest more than you can afford to lose.
Trading & Investing both are masters of RISK.
Please comment, like and follow if it was helpful for you.
Thank you for your time.
Have a profitable day.
| Review and analysis by Samadi.Finance |
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.
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 the $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.
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 afresh increase above $44,500, it could start a downside correction. 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 – The MACD is now gaining momentum in the bullish zone.
- Hourly RSI – The RSI for BTC/USD is now above the 60 level.
- Major Support Levels – $43,500, followed by $43,000.
- Major Resistance Levels – $44,500, $45,000 and $46,500.
- It's important to keep in mind that cryptocurrency markets are extremely volatile, making it difficult to accurately predict what a coin’s price will be in a few hours or a few days and even harder to give long-term estimates. As such, analysts and online forecasting sites can get their predictions wrong. We recommend that you always do your own research and consider the latest market trends, news, technical and fundamental analysis, and expert opinion before making any investment decisions. Be patient and look long-term wisely and never invest more than you can afford to lose.
Trading & Investing both are masters of RISK.
Please comment, like and follow if it was helpful for you.
Thank you for your time.
Have a profitable day.
| Review and analysis by Samadi.Finance |
Market Rank: 1
BTC Price: $42,996.43
Price Change 24h: $-1,051.45/-2.39%
24h Low / 24h High: $42,807.84/$45,293.87
90d Low / 90d High: $$33,184.06/$66,281.57
Trading Volume 24h: $31,602,059,007.92/+18.90%
Volume / Market Cap: 0.03866
Market Dominance: 41.64%
Market Cap: $817,359,416,810.21/-1.92%
Fully Diluted Market Cap: $905,667,998,163.73/-1.92%
Yesterday's Change: +3.38%
Yesterday's Volume: $28,641,855,926.25
Circulating Supply: 18,952,362 BTC
Max Supply: 21,000,000 BTC