{"id":34547,"date":"2023-12-28T01:53:13","date_gmt":"2023-12-28T05:53:13","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=34547"},"modified":"2023-12-28T01:53:13","modified_gmt":"2023-12-28T05:53:13","slug":"bitcoin-price-regains-strength-why-btc-could-still-remain-in-range-before-2024","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/12\/28\/bitcoin-price-regains-strength-why-btc-could-still-remain-in-range-before-2024\/","title":{"rendered":"Bitcoin Price Regains Strength \u2013 Why BTC Could Still Remain In Range Before 2024"},"content":{"rendered":"

Bitcoin price found support and started a decent increase above $43,000. BTC is rising, but it might struggle to clear the $44,300 and $44,500 resistance levels.<\/em><\/p>\n

Bitcoin tested the $41,650 zone an started a fresh increase.
\nThe price is trading above $43,000 and the 100 hourly Simple moving average.
\nThere was a break above a connecting bearish trend line with resistance near $43,350 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could continue to move surge toward the main resistance at $44,300.<\/p>\n

Bitcoin Price Restarts Increase<\/h2>\n

Bitcoin price was able to find bids above the $41,500 level<\/a>. BTC formed a base and recently started a fresh increase from the $41,637 low. There was a steady increase above the $42,500 resistance zone.<\/p>\n

There was a break above a connecting bearish trend line with resistance near $43,350 on the hourly chart of the BTC\/USD pair. The pair even climbed above the 61.8% Fib retracement level of the downward move from the $44,429 swing high to the $41,636 low.<\/p>\n

Bitcoin is now trading above $43,000 and the 100 hourly Simple moving average<\/a>. On the upside, immediate resistance is near the $43,780 level. It is close to the 76.4% Fib retracement level of the downward move from the $44,429 swing high to the $41,636 low.<\/p>\n

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

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

The first major resistance is $44,000. The main hurdle sits at $44,300. A close above the $44,300 resistance could start a decent move toward the $45,000 level. The next key resistance could be near $45,500, above which BTC could rise toward the $46,500 level.<\/p>\n

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

If Bitcoin fails to rise above the $44,000 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $43,350 level.<\/p>\n

The next major support is near $42,750. If there is a move below $42,750, 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 $43,350, followed by $42,750.<\/p>\n

Major Resistance Levels \u2013 $43,750, $44,000, and $44,300.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price found support and started a decent increase above $43,000. BTC is rising, but it might struggle to clear the $44,300 and $44,500 resistance levels.<\/em><\/p>\n

Bitcoin tested the $41,650 zone an started a fresh increase.
\nThe price is trading above $43,000 and the 100 hourly Simple moving average.
\nThere was a break above a connecting bearish trend line with resistance near $43,350 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could continue to move surge toward the main resistance at $44,300.<\/p>\n

Bitcoin Price Restarts Increase<\/h2>\n

Bitcoin price was able to find bids above the $41,500 level<\/a>. BTC formed a base and recently started a fresh increase from the $41,637 low. There was a steady increase above the $42,500 resistance zone.<\/p>\n

There was a break above a connecting bearish trend line with resistance near $43,350 on the hourly chart of the BTC\/USD pair. The pair even climbed above the 61.8% Fib retracement level of the downward move from the $44,429 swing high to the $41,636 low.<\/p>\n

Bitcoin is now trading above $43,000 and the 100 hourly Simple moving average<\/a>. On the upside, immediate resistance is near the $43,780 level. It is close to the 76.4% Fib retracement level of the downward move from the $44,429 swing high to the $41,636 low.<\/p>\n

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

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

The first major resistance is $44,000. The main hurdle sits at $44,300. A close above the $44,300 resistance could start a decent move toward the $45,000 level. The next key resistance could be near $45,500, above which BTC could rise toward the $46,500 level.<\/p>\n

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

If Bitcoin fails to rise above the $44,000 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $43,350 level.<\/p>\n

The next major support is near $42,750. If there is a move below $42,750, 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 $43,350, followed by $42,750.<\/p>\n

Major Resistance Levels \u2013 $43,750, $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-34547","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\/34547","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=34547"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34547\/revisions"}],"predecessor-version":[{"id":34556,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34547\/revisions\/34556"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=34547"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=34547"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=34547"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}