{"id":34363,"date":"2023-12-21T04:12:28","date_gmt":"2023-12-21T08:12:28","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=34363"},"modified":"2023-12-21T04:12:28","modified_gmt":"2023-12-21T08:12:28","slug":"bitcoin-price-outperforms-key-reasons-why-bulls-still-aim-48k","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/12\/21\/bitcoin-price-outperforms-key-reasons-why-bulls-still-aim-48k\/","title":{"rendered":"Bitcoin Price Outperforms \u2013 Key Reasons Why Bulls Still Aim $48K"},"content":{"rendered":"

Bitcoin price is moving higher and recently broke the $43,500 resistance. BTC is still in a strong uptrend and might gain pace for a move above $45,000.<\/em><\/p>\n

Bitcoin extended its increase and climbed above the $43,500 resistance zone.
\nThe price is trading above $43,000 and the 100 hourly Simple moving average.
\nThere is a connecting bullish trend line forming with support near $43,100 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could continue to move up if there is a close above $44,500 and $45,000.<\/p>\n

Bitcoin Price Regains Strength<\/h2>\n

Bitcoin price remained stable above the $42,000 resistance zone. BTC gained bullish momentum and climbed above the $43,000 resistance zone. It even cleared the key $43,500 barrier<\/a>.<\/p>\n

Finally, the price tested the $44,300 level. A high is formed near $44,300 and the price is now correcting gains. There was a minor decline below the $44,000 level. The price dipped below the 23.6% Fib retracement level of the recent increase from the $41,828 swing low to the $44,300 high.<\/p>\n

Bitcoin is now trading above $43,000 and the 100 hourly Simple moving average<\/a>. There is also a connecting bullish trend line forming with support near $43,100 on the hourly chart of the BTC\/USD pair.<\/p>\n

The current price action and the recent breakout calls for more gains. On the upside, immediate resistance is near the $44,000 level. The first major resistance is forming near $44,300 and $44,500. A close above the $44,500 resistance could set the pace for a move above $45,000.<\/p>\n

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

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

The next key resistance could be near $46,500, above which BTC could rise toward the $47,200 level. The next major target for the bulls could be $48,000.<\/p>\n

Another Decline In BTC?<\/h2>\n

If Bitcoin fails to rise above the $44,500 resistance zone, it could continue to move down. Immediate support on the downside is near the $43,200 level.<\/p>\n

The next major support is near $43,000 or the 50% Fib retracement level of the recent increase from the $41,828 swing low to the $44,300 high. If there is a move below $43,000, there is a risk of more losses. In the stated case, the price could drop toward the $42,000 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 $43,100, followed by $43,000.<\/p>\n

Major Resistance Levels \u2013 $44,300, $44,500, and $45,000.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price is moving higher and recently broke the $43,500 resistance. BTC is still in a strong uptrend and might gain pace for a move above $45,000.<\/em><\/p>\n

Bitcoin extended its increase and climbed above the $43,500 resistance zone.
\nThe price is trading above $43,000 and the 100 hourly Simple moving average.
\nThere is a connecting bullish trend line forming with support near $43,100 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could continue to move up if there is a close above $44,500 and $45,000.<\/p>\n

Bitcoin Price Regains Strength<\/h2>\n

Bitcoin price remained stable above the $42,000 resistance zone. BTC gained bullish momentum and climbed above the $43,000 resistance zone. It even cleared the key $43,500 barrier<\/a>.<\/p>\n

Finally, the price tested the $44,300 level. A high is formed near $44,300 and the price is now correcting gains. There was a minor decline below the $44,000 level. The price dipped below the 23.6% Fib retracement level of the recent increase from the $41,828 swing low to the $44,300 high.<\/p>\n

Bitcoin is now trading above $43,000 and the 100 hourly Simple moving average<\/a>. There is also a connecting bullish trend line forming with support near $43,100 on the hourly chart of the BTC\/USD pair.<\/p>\n

The current price action and the recent breakout calls for more gains. On the upside, immediate resistance is near the $44,000 level. The first major resistance is forming near $44,300 and $44,500. A close above the $44,500 resistance could set the pace for a move above $45,000.<\/p>\n

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

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

The next key resistance could be near $46,500, above which BTC could rise toward the $47,200 level. The next major target for the bulls could be $48,000.<\/p>\n

Another Decline In BTC?<\/h2>\n

If Bitcoin fails to rise above the $44,500 resistance zone, it could continue to move down. Immediate support on the downside is near the $43,200 level.<\/p>\n

The next major support is near $43,000 or the 50% Fib retracement level of the recent increase from the $41,828 swing low to the $44,300 high. If there is a move below $43,000, there is a risk of more losses. In the stated case, the price could drop toward the $42,000 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 $43,100, followed by $43,000.<\/p>\n

Major Resistance Levels \u2013 $44,300, $44,500, 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-34363","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\/34363","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=34363"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34363\/revisions"}],"predecessor-version":[{"id":34368,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34363\/revisions\/34368"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=34363"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=34363"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=34363"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}