{"id":480862,"date":"2022-01-12T03:08:46","date_gmt":"2022-01-12T03:08:46","guid":{"rendered":"https:\/\/uniquehot.com\/?p=480862"},"modified":"2024-06-11T07:47:59","modified_gmt":"2024-06-11T07:47:59","slug":"bitcoin-gearing-for-lift-44k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-gearing-for-lift-44k\/","title":{"rendered":"TA: Bitcoin Gearing For Lift-Off to $44K: Recovery Isn’t Over Yet"},"content":{"rendered":"
Bitcoin started a steady recovery wave above $42,000 against the US Dollar. BTC tested $43,000 and the bulls might aim more upsides above $43,500.<\/em><\/p>\n Bitcoin price formed a support base and climbed above the $42,000 resistance zone<\/a>. BTC even traded above the $42,500 level and the 100 hourly simple moving average to move into a positive zone.<\/p>\n The upward move gained pace and the price spiked above the $43,000 level. A high is formed near $43,127 and the price is now correcting gains. It traded below the $42,800 support level. There was a move below the 23.6% Fib retracement level of the upward move from the $41,315 swing low to $43,127 high.<\/p>\n Besides, there is a key bullish trend line forming with support near $42,200 on the hourly chart of the BTC\/USD pair. Bitcoin is now trading above $42,000 and the 100 hourly simple moving average<\/a>.<\/p>\n <\/a><\/p>\n On the upside, an initial resistance is near the $43,000 level. The next major resistance is near the $43,200 level. Any more gains could pump the price towards the $44,000 level. The next major resistance is near the $45,000 level.<\/p>\n If bitcoin fails to recover above $43,000, it could start a fresh decline. An immediate support on the downside is near the $42,500 zone. The first major support is near $42,200 and the bullish trend line.<\/p>\n The trend line is near the 50% Fib retracement level of the upward move from the $41,315 swing low to $43,127 high. A downside break below the trend line support could lead the price towards the $41,800 level and the 100 hourly SMA. Any more losses might push the price towards the $40,500 support zone in the coming sessions.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is now losing 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 $42,200, followed by $41,800.<\/p>\n Major Resistance Levels \u2013 $43,000, $43,200 and $44,000.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin started a steady recovery wave above $42,000 against the US Dollar. BTC tested $43,000 and the bulls might aim more upsides above $43,500. Bitcoin is showing positive signs above the $42,000 support zone. The price is trading above $42,000 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $42,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair might continue to recover and test the $44,000 resistance zone in the near term. Bitcoin Price Starts Recovery Bitcoin price formed a support base and climbed above the $42,000 resistance zone. BTC even traded above the $42,500 level and the 100 hourly simple moving average to move into a positive zone. The upward move gained pace and the price spiked above the $43,000 level. A high is formed near $43,127 and the price is now correcting gains. It traded below the $42,800 support level. There was a move below the 23.6% Fib retracement level of the upward move from the $41,315 swing low to $43,127 high. Besides, there is a key bullish trend line forming with support near $42,200 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, an initial resistance is near the $43,000 level. The next major resistance is near the $43,200 level. Any more gains could pump the price towards the $44,000 level. The next major resistance is near the $45,000 level. Fresh Decline in BTC? If bitcoin fails to recover above $43,000, it could start a fresh decline. An immediate support on the downside is near the $42,500 zone. The first major support is near $42,200 and the bullish trend line. The trend line is near the 50% Fib retracement level of the upward move from the $41,315 swing low to $43,127 high. A downside break below the trend line support could lead the price towards the $41,800 level and the 100 hourly SMA. Any more losses might push the price towards the $40,500 support zone in the coming sessions. Technical indicators: Hourly MACD \u2013 The MACD is now losing 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 $42,200, followed by $41,800. Major Resistance Levels \u2013 $43,000, $43,200 and $44,000.<\/p>\n","protected":false},"author":67,"featured_media":462414,"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-480862","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