{"id":33789,"date":"2023-12-06T03:10:45","date_gmt":"2023-12-06T07:10:45","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=33789"},"modified":"2023-12-06T03:10:45","modified_gmt":"2023-12-06T07:10:45","slug":"bitcoin-price-surges-over-15-in-few-days-45k-seems-imminent","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/12\/06\/bitcoin-price-surges-over-15-in-few-days-45k-seems-imminent\/","title":{"rendered":"Bitcoin Price Surges Over 15% In Few Days, $45K Seems Imminent"},"content":{"rendered":"

Bitcoin price extended its rally above the $43,200 resistance. BTC is now consolidating gains and might rally further toward the $45,000 zone.<\/em><\/p>\n

Bitcoin surged further above the $42,200 and $43,200 levels.
\nThe price is trading above $43,200 and the 100 hourly Simple moving average.
\nThere are two bullish trend lines forming with support near $43,200 and $41,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could correct lower toward $43,200 before it starts a fresh increase.<\/p>\n

Bitcoin Price Extends Rally<\/h2>\n

Bitcoin price remained in a steady uptrend above the $40,000 resistance zone<\/a>. BTC gained over 15% in the past few days and even surged above the $42,000 zone.<\/p>\n

The upward move gained pace above the $43,200 resistance zone. \u00a0A new multi-month high is formed near $44,465 and the price is now correcting gains. There was a move below the $44,000 level. The price is still above the 23.6% Fib retracement level of the upward move from the $39,476 swing low to the $44,465 high.<\/p>\n

Bitcoin also trades above $43,200 and the 100 hourly Simple moving average<\/a>. Besides, there are two bullish trend lines forming with support near $43,200 and $41,800 on the hourly chart of the BTC\/USD pair. The second trend line is close to the 50% Fib retracement level of the upward move from the $39,476 swing low to the $44,465 high.<\/p>\n

On the upside, immediate resistance is near the $44,200 level. The first major resistance is forming near $44,450, above which the price might rise toward the $45,000 level.<\/p>\n

<\/a><\/p>\n

Source: BTCUSD on TradingView.com<\/a><\/p>\n

A close above the $45,000 resistance might send the price further higher. The next key resistance could be near $46,400, above which BTC could rise toward the $48,000 level.<\/p>\n

Are Dips Supported In BTC?<\/h2>\n

If Bitcoin fails to rise above the $44,500 resistance zone, it could start a downside correction. Immediate support on the downside is near the $43,250 level.<\/p>\n

The next major support is near $42,800, below which the price might test the second trend line. If there is a move below $42,000, there is a risk of more downsides. In the stated case, the price could drop toward the $40,500 support in the near term.<\/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 $43,200, followed by $42,000.<\/p>\n

Major Resistance Levels \u2013 $44,200, $44,450, and $45,000.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price extended its rally above the $43,200 resistance. BTC is now consolidating gains and might rally further toward the $45,000 zone.<\/em><\/p>\n

Bitcoin surged further above the $42,200 and $43,200 levels.
\nThe price is trading above $43,200 and the 100 hourly Simple moving average.
\nThere are two bullish trend lines forming with support near $43,200 and $41,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could correct lower toward $43,200 before it starts a fresh increase.<\/p>\n

Bitcoin Price Extends Rally<\/h2>\n

Bitcoin price remained in a steady uptrend above the $40,000 resistance zone<\/a>. BTC gained over 15% in the past few days and even surged above the $42,000 zone.<\/p>\n

The upward move gained pace above the $43,200 resistance zone. \u00a0A new multi-month high is formed near $44,465 and the price is now correcting gains. There was a move below the $44,000 level. The price is still above the 23.6% Fib retracement level of the upward move from the $39,476 swing low to the $44,465 high.<\/p>\n

Bitcoin also trades above $43,200 and the 100 hourly Simple moving average<\/a>. Besides, there are two bullish trend lines forming with support near $43,200 and $41,800 on the hourly chart of the BTC\/USD pair. The second trend line is close to the 50% Fib retracement level of the upward move from the $39,476 swing low to the $44,465 high.<\/p>\n

On the upside, immediate resistance is near the $44,200 level. The first major resistance is forming near $44,450, above which the price might rise toward the $45,000 level.<\/p>\n

<\/a><\/p>\n

Source: BTCUSD on TradingView.com<\/a><\/p>\n

A close above the $45,000 resistance might send the price further higher. The next key resistance could be near $46,400, above which BTC could rise toward the $48,000 level.<\/p>\n

Are Dips Supported In BTC?<\/h2>\n

If Bitcoin fails to rise above the $44,500 resistance zone, it could start a downside correction. Immediate support on the downside is near the $43,250 level.<\/p>\n

The next major support is near $42,800, below which the price might test the second trend line. If there is a move below $42,000, there is a risk of more downsides. In the stated case, the price could drop toward the $40,500 support in the near term.<\/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 $43,200, followed by $42,000.<\/p>\n

Major Resistance Levels \u2013 $44,200, $44,450, and $45,000.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-33789","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/33789","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=33789"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/33789\/revisions"}],"predecessor-version":[{"id":33801,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/33789\/revisions\/33801"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=33789"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=33789"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=33789"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}