{"id":34485,"date":"2023-12-26T02:52:41","date_gmt":"2023-12-26T06:52:41","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=34485"},"modified":"2023-12-26T02:52:41","modified_gmt":"2023-12-26T06:52:41","slug":"bitcoin-price-eyes-fresh-bullish-breakout-can-btc-make-it-to-45k","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/12\/26\/bitcoin-price-eyes-fresh-bullish-breakout-can-btc-make-it-to-45k\/","title":{"rendered":"Bitcoin Price Eyes Fresh Bullish Breakout, Can BTC Make It To $45K?"},"content":{"rendered":"

Bitcoin price corrected gains and tested the $42,650 zone. BTC is again attempting a fresh increase and eyeing a move above the $43,750 resistance.<\/em><\/p>\n

Bitcoin found support above the $42,500 zone and started a fresh increase.
\nThe price is trading below $43,550 and the 100 hourly Simple moving average.
\nThere is a connecting bearish trend line forming with resistance near $43,600 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a fresh increase if it clears the $43,750 and $44,300 resistance levels.<\/p>\n

Bitcoin Price Holds Ground<\/h2>\n

Bitcoin price failed to clear the $44,300 resistance zone and started a downside correction. BTC declined below $43,500 level, but the bulls were active<\/a> above the $42,500 zone.<\/p>\n

A low was formed near $42,860 and the price is now attempting a fresh increase. There was a move above the $43,200 resistance zone. The price climbed above the 50% Fib retracement level of the downward move from the $44,429 swing high to the $42,680 low.<\/p>\n

Bitcoin is still trading below $43,550 and the 100 hourly Simple moving average<\/a>. There is also a connecting bearish trend line forming with resistance near $43,600 on the hourly chart of the BTC\/USD pair.<\/p>\n

The trend line is close to the 61.8% Fib retracement level of the downward move from the $44,429 swing high to the $42,680 low. On the upside, immediate resistance is near the $43,550 level. The first major resistance is forming near the trend line.<\/p>\n

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

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

A close above the $43,600 resistance could start a decent move toward the $44,300 level. The next key resistance could be near $45,000, above which BTC could rise toward the $46,500 level. Any more gains might send the price toward $47,200.<\/p>\n

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

If Bitcoin fails to rise above the $43,600 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $43,000 level.<\/p>\n

The next major support is near $42,600. If there is a move below $42,600, 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 losing pace in the bearish zone.<\/p>\n

Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now near the 50 level.<\/p>\n

Major Support Levels \u2013 $43,000, followed by $42,600.<\/p>\n

Major Resistance Levels \u2013 $43,600, $44,000, and $44,300.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price corrected gains and tested the $42,650 zone. BTC is again attempting a fresh increase and eyeing a move above the $43,750 resistance.<\/em><\/p>\n

Bitcoin found support above the $42,500 zone and started a fresh increase.
\nThe price is trading below $43,550 and the 100 hourly Simple moving average.
\nThere is a connecting bearish trend line forming with resistance near $43,600 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a fresh increase if it clears the $43,750 and $44,300 resistance levels.<\/p>\n

Bitcoin Price Holds Ground<\/h2>\n

Bitcoin price failed to clear the $44,300 resistance zone and started a downside correction. BTC declined below $43,500 level, but the bulls were active<\/a> above the $42,500 zone.<\/p>\n

A low was formed near $42,860 and the price is now attempting a fresh increase. There was a move above the $43,200 resistance zone. The price climbed above the 50% Fib retracement level of the downward move from the $44,429 swing high to the $42,680 low.<\/p>\n

Bitcoin is still trading below $43,550 and the 100 hourly Simple moving average<\/a>. There is also a connecting bearish trend line forming with resistance near $43,600 on the hourly chart of the BTC\/USD pair.<\/p>\n

The trend line is close to the 61.8% Fib retracement level of the downward move from the $44,429 swing high to the $42,680 low. On the upside, immediate resistance is near the $43,550 level. The first major resistance is forming near the trend line.<\/p>\n

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

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

A close above the $43,600 resistance could start a decent move toward the $44,300 level. The next key resistance could be near $45,000, above which BTC could rise toward the $46,500 level. Any more gains might send the price toward $47,200.<\/p>\n

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

If Bitcoin fails to rise above the $43,600 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $43,000 level.<\/p>\n

The next major support is near $42,600. If there is a move below $42,600, 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 losing pace in the bearish zone.<\/p>\n

Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now near the 50 level.<\/p>\n

Major Support Levels \u2013 $43,000, followed by $42,600.<\/p>\n

Major Resistance Levels \u2013 $43,600, $44,000, and $44,300.<\/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-34485","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\/34485","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=34485"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34485\/revisions"}],"predecessor-version":[{"id":34492,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34485\/revisions\/34492"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=34485"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=34485"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=34485"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}