{"id":484762,"date":"2022-03-01T02:48:52","date_gmt":"2022-03-01T02:48:52","guid":{"rendered":"https:\/\/uniquehot.com\/?p=484762"},"modified":"2024-06-11T14:17:51","modified_gmt":"2024-06-11T14:17:51","slug":"bitcoin-rallies-over-12-40k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-rallies-over-12-40k\/","title":{"rendered":"TA: Bitcoin Rallies Over 12%, Why This Could Be Major Trend Change"},"content":{"rendered":"
Bitcoin broke the key $40,000 resistance zone against the US Dollar. BTC is up over 12% and might continue to rise above the $43,000 level.<\/em><\/p>\n Bitcoin price remained in a positive zone<\/a> above the $38,00- pivot level. BTC was able to start a major increase after it cleared the $38,800 resistance zone.<\/p>\n There was a break above a key bearish trend line with resistance near $38,000 on the hourly chart of the BTC\/USD pair. It opened the doors for a sharp increase above the $40,000 resistance<\/a> and the 100 hourly simple moving average.<\/p>\n The price rallied over 10% and there was a clear move above the $42,000 resistance zone. It even cleared the $43,000 level and traded as high as $44,192.<\/p>\n Bitcoin is now consolidating and trading well above the 23.6% Fib retracement level of the upward move from the $37,029 swing low to $44,192 high. On the upside, an immediate resistance is near the $44,000 level. The first key resistance is near the $44,200 level.<\/p>\n <\/a><\/p>\n The main resistance is now near the $44,500 level. A clear move above the $44,500 resistance could send the price further higher. In the stated case, it could even attempt a clear move above $45,000.<\/p>\n If bitcoin fails to clear the $44,200 resistance zone, it could start a downside correction. An immediate support on the downside is near the $43,000 zone.<\/p>\n The next major support is seen near the $42,500 level. If there is a downside break below the $42,500 support, the price might gain bearish momentum towards $40,500. It is near the 50% Fib retracement level of the upward move from the $37,029 swing low to $44,192 high.<\/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 correcting from the overbought zone.<\/p>\n Major Support Levels \u2013 $43,000, followed by $42,500.<\/p>\n Major Resistance Levels \u2013 $44,000, $44,200 and $45,000.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin broke the key $40,000 resistance zone against the US Dollar. BTC is up over 12% and might continue to rise above the $43,000 level. Bitcoin surged above a few key hurdles near the $40,000 resistance zone. The price is trading above $42,000 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $38,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair has moved into a bullish zone and might accelerate higher towards $45,000. Bitcoin Price Surges Bitcoin price remained in a positive zone above the $38,00- pivot level. BTC was able to start a major increase after it cleared the $38,800 resistance zone. There was a break above a key bearish trend line with resistance near $38,000 on the hourly chart of the BTC\/USD pair. It opened the doors for a sharp increase above the $40,000 resistance and the 100 hourly simple moving average. The price rallied over 10% and there was a clear move above the $42,000 resistance zone. It even cleared the $43,000 level and traded as high as $44,192. Bitcoin is now consolidating and trading well above the 23.6% Fib retracement level of the upward move from the $37,029 swing low to $44,192 high. On the upside, an immediate resistance is near the $44,000 level. The first key resistance is near the $44,200 level. Source: BTCUSD on TradingView.com The main resistance is now near the $44,500 level. A clear move above the $44,500 resistance could send the price further higher. In the stated case, it could even attempt a clear move above $45,000. Dips Limited in BTC? If bitcoin fails to clear the $44,200 resistance zone, it could start a downside correction. An immediate support on the downside is near the $43,000 zone. The next major support is seen near the $42,500 level. If there is a downside break below the $42,500 support, the price might gain bearish momentum towards $40,500. It is near the 50% Fib retracement level of the upward move from the $37,029 swing low to $44,192 high. 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 correcting from the overbought zone. Major Support Levels \u2013 $43,000, followed by $42,500. Major Resistance Levels \u2013 $44,000, $44,200 and $45,000.<\/p>\n","protected":false},"author":67,"featured_media":464227,"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-484762","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 Surges<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Dips Limited in BTC?<\/h2>\n