{"id":33968,"date":"2023-12-08T13:52:34","date_gmt":"2023-12-08T17:52:34","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=33968"},"modified":"2023-12-08T13:52:34","modified_gmt":"2023-12-08T17:52:34","slug":"bitcoin-price-remains-strong-and-eyes-fresh-surge-above-44k","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/12\/08\/bitcoin-price-remains-strong-and-eyes-fresh-surge-above-44k\/","title":{"rendered":"Bitcoin Price Remains Strong and Eyes Fresh Surge Above $44K"},"content":{"rendered":"

Bitcoin price corrected lower and tested the $42,800 support zone. BTC is now showing positive signs and might attempt a fresh surge above $44,000.<\/em><\/p>\n

Bitcoin is holding gains above the $42,500 pivot level.
\nThe price is trading above $42,800 and the 100 hourly Simple moving average.
\nThere is a key bullish trend line forming with support near $42,900 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair is likely setting up for a fresh increase above the $44,000 level.<\/p>\n

Bitcoin Price Eyes Fresh Increase<\/h2>\n

Bitcoin price started a downside correction<\/a> below the $44,000 level. BTC declined below the $43,500 level, but the bulls remained active. The price found bids near the 50% Fib retracement level of the upward move from the $41,427 swing low to the $44,465 high.<\/p>\n

Bitcoin is still trading above $42,800 and the 100 hourly Simple moving average<\/a>. There is also a key bullish trend line forming with support near $42,900 on the hourly chart of the BTC\/USD pair.<\/p>\n

The price is now rising and showing positive signs above the $43,000 level. 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 gain bullish momentum and rise toward $45,000.<\/p>\n

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

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

A close above the $45,000 resistance might start a strong upward move. The next key resistance could be near $46,000, above which BTC could rise toward the $47,200 level.<\/p>\n

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

If Bitcoin fails to rise above the $44,450 resistance zone, it could start another decline. Immediate support on the downside is near the $42,900 level and the trend line.<\/p>\n

The next major support is near $42,580 or the 61.8% Fib retracement level of the upward move from the $41,427 swing low to the $44,465 high, below which the price might test the $42,150 zone. If there is a move below $42,150, there is a risk of more downsides. In the stated case, the price could drop toward the $41,500 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 $42,900, followed by $42,150.<\/p>\n

Major Resistance Levels \u2013 $44,250, $44,450, and $45,000.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price corrected lower and tested the $42,800 support zone. BTC is now showing positive signs and might attempt a fresh surge above $44,000.<\/em><\/p>\n

Bitcoin is holding gains above the $42,500 pivot level.
\nThe price is trading above $42,800 and the 100 hourly Simple moving average.
\nThere is a key bullish trend line forming with support near $42,900 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair is likely setting up for a fresh increase above the $44,000 level.<\/p>\n

Bitcoin Price Eyes Fresh Increase<\/h2>\n

Bitcoin price started a downside correction<\/a> below the $44,000 level. BTC declined below the $43,500 level, but the bulls remained active. The price found bids near the 50% Fib retracement level of the upward move from the $41,427 swing low to the $44,465 high.<\/p>\n

Bitcoin is still trading above $42,800 and the 100 hourly Simple moving average<\/a>. There is also a key bullish trend line forming with support near $42,900 on the hourly chart of the BTC\/USD pair.<\/p>\n

The price is now rising and showing positive signs above the $43,000 level. 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 gain bullish momentum and rise toward $45,000.<\/p>\n

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

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

A close above the $45,000 resistance might start a strong upward move. The next key resistance could be near $46,000, above which BTC could rise toward the $47,200 level.<\/p>\n

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

If Bitcoin fails to rise above the $44,450 resistance zone, it could start another decline. Immediate support on the downside is near the $42,900 level and the trend line.<\/p>\n

The next major support is near $42,580 or the 61.8% Fib retracement level of the upward move from the $41,427 swing low to the $44,465 high, below which the price might test the $42,150 zone. If there is a move below $42,150, there is a risk of more downsides. In the stated case, the price could drop toward the $41,500 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 $42,900, followed by $42,150.<\/p>\n

Major Resistance Levels \u2013 $44,250, $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-33968","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\/33968","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=33968"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/33968\/revisions"}],"predecessor-version":[{"id":33982,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/33968\/revisions\/33982"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=33968"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=33968"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=33968"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}