{"id":486219,"date":"2022-03-17T03:08:56","date_gmt":"2022-03-17T03:08:56","guid":{"rendered":"https:\/\/uniquehot.com\/?p=486219"},"modified":"2024-06-11T14:18:27","modified_gmt":"2024-06-11T14:18:27","slug":"bitcoin-price-eyes-upside-break-41-5k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-eyes-upside-break-41-5k\/","title":{"rendered":"TA: Bitcoin Price Eyes Another Key Upside Break Above $41.5K"},"content":{"rendered":"
Bitcoin started a fresh increase above the $40,000 resistance against the US Dollar. BTC remains supported and might rally again above the $41,500 resistance.<\/em><\/p>\n Bitcoin price spiked towards the $41,500 level<\/a> before it faced sellers. BTC reacted to the downside and even dived below the $40,000 level.<\/p>\n However, the bulls were active near the $39,000 zone and the 100 hourly simple moving average<\/a>. There is also a major bullish trend line forming with support near $39,850 on the hourly chart of the BTC\/USD pair. A low was formed near $39,300 and the price started a fresh increase. There was a clear move above the $40,000 resistance zone.<\/p>\n Bitcoin even climbed above the $40,800 level. It is now consolidating near the $41,000 resistance zone. There was a test of the 23.6% Fib retracement level of the upward move from the $39,308 swing low to $41,470 high.<\/p>\n <\/a><\/p>\n On the upside, the price is facing resistance near the $41,200 level. The next major resistance could be near the recent high or $41,600. A clear move above the $41,600 level could open the doors for another rally. In the stated case, the price might rise towards the $42,500 level. Any more gains might send the price towards the $43,200 level in the near term.<\/p>\n If bitcoin fails to clear the $41,600 resistance zone, it could start a downside correction. An immediate support on the downside is near the $40,500 zone.<\/p>\n The next major support is seen near the $40,300 level. It is near the 50% Fib retracement level of the upward move from the $39,308 swing low to $41,470 high. The main support is still near the $40,000 zone, below which the price might test $39,000.<\/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 well above the 50 level.<\/p>\n Major Support Levels \u2013 $40,500, followed by $40,000.<\/p>\n Major Resistance Levels \u2013 $41,200, $41,600 and $42,500.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin started a fresh increase above the $40,000 resistance against the US Dollar. BTC remains supported and might rally again above the $41,500 resistance. Bitcoin reclaimed the $40,000 level and might continue to rise. The price is trading above $40,200 and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $39,850 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair might correct lower, but the bulls might remain active near the $40,000 zone. Bitcoin Price Remains Elevated Bitcoin price spiked towards the $41,500 level before it faced sellers. BTC reacted to the downside and even dived below the $40,000 level. However, the bulls were active near the $39,000 zone and the 100 hourly simple moving average. There is also a major bullish trend line forming with support near $39,850 on the hourly chart of the BTC\/USD pair. A low was formed near $39,300 and the price started a fresh increase. There was a clear move above the $40,000 resistance zone. Bitcoin even climbed above the $40,800 level. It is now consolidating near the $41,000 resistance zone. There was a test of the 23.6% Fib retracement level of the upward move from the $39,308 swing low to $41,470 high. Source: BTCUSD on TradingView.com On the upside, the price is facing resistance near the $41,200 level. The next major resistance could be near the recent high or $41,600. A clear move above the $41,600 level could open the doors for another rally. In the stated case, the price might rise towards the $42,500 level. Any more gains might send the price towards the $43,200 level in the near term. Dips Supported in BTC? If bitcoin fails to clear the $41,600 resistance zone, it could start a downside correction. An immediate support on the downside is near the $40,500 zone. The next major support is seen near the $40,300 level. It is near the 50% Fib retracement level of the upward move from the $39,308 swing low to $41,470 high. The main support is still near the $40,000 zone, below which the price might test $39,000. 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 well above the 50 level. Major Support Levels \u2013 $40,500, followed by $40,000. Major Resistance Levels \u2013 $41,200, $41,600 and $42,500.<\/p>\n","protected":false},"author":67,"featured_media":462847,"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-486219","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 Remains Elevated<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Dips Supported in BTC?<\/h2>\n