{"id":34699,"date":"2024-01-03T04:53:34","date_gmt":"2024-01-03T08:53:34","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=34699"},"modified":"2024-01-03T04:53:34","modified_gmt":"2024-01-03T08:53:34","slug":"bitcoin-price-seems-unstoppable-as-btc-bulls-aim-for-48k","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2024\/01\/03\/bitcoin-price-seems-unstoppable-as-btc-bulls-aim-for-48k\/","title":{"rendered":"Bitcoin Price Seems Unstoppable As BTC Bulls Aim For $48K"},"content":{"rendered":"

Bitcoin price is holding gains above the $45,000 resistance. BTC seems to be setting up for more gains above the $46,000 level in the near term.<\/em><\/p>\n

Bitcoin extended its increase and traded close to the $46,000 level.
\nThe price is trading above $45,000 and the 100 hourly Simple moving average.
\nThere is a key bullish flag forming with resistance near $45,300 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a fresh increase unless there is a correction wave below $44,800.<\/p>\n

Bitcoin Price Eyes More Upsides<\/h2>\n

Bitcoin price started a fresh increase<\/a> above the $44,000 and $44,500 resistance levels. BTC even broke the $45,000 level to move further into a bullish zone.<\/p>\n

A new multi-week high was formed near $45,900 and the price is now consolidating gains. There was a minor downside correction from the $45,900 level. The price dipped below the $45,500 level. It even tested the 23.6% Fib retracement level of the upward move from the $41,300 swing low to the $45,900 high.<\/p>\n

Bitcoin is now trading above $45,000 and the 100 hourly Simple moving average<\/a>. On the upside, immediate resistance is near the $45,300 level. There is also a key bullish flag forming with resistance near $45,300 on the hourly chart of the BTC\/USD pair.<\/p>\n

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

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

The first major resistance is $46,000. A close above the $46,000 level could send the price further higher. The next major resistance sits at $46,800. Any more gains above the $46,800 level could open the doors for a move toward the $48,000 level.<\/p>\n

More Downsides In BTC?<\/h2>\n

If Bitcoin fails to rise above the $45,300 resistance zone, it could start a downside correction. Immediate support on the downside is near the $44,800 level.<\/p>\n

The next major support is near $44,000. If there is a move below $44,000, there is a risk of more losses. In the stated case, the price could drop toward the $43,600 support or the 50% Fib retracement level of the upward move from the $41,300 swing low to the $45,900 high in the near term.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now losing 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 $44,800, followed by $44,000.<\/p>\n

Major Resistance Levels \u2013 $45,300, $46,000, and $46,800.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price is holding gains above the $45,000 resistance. BTC seems to be setting up for more gains above the $46,000 level in the near term.<\/em><\/p>\n

Bitcoin extended its increase and traded close to the $46,000 level.
\nThe price is trading above $45,000 and the 100 hourly Simple moving average.
\nThere is a key bullish flag forming with resistance near $45,300 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a fresh increase unless there is a correction wave below $44,800.<\/p>\n

Bitcoin Price Eyes More Upsides<\/h2>\n

Bitcoin price started a fresh increase<\/a> above the $44,000 and $44,500 resistance levels. BTC even broke the $45,000 level to move further into a bullish zone.<\/p>\n

A new multi-week high was formed near $45,900 and the price is now consolidating gains. There was a minor downside correction from the $45,900 level. The price dipped below the $45,500 level. It even tested the 23.6% Fib retracement level of the upward move from the $41,300 swing low to the $45,900 high.<\/p>\n

Bitcoin is now trading above $45,000 and the 100 hourly Simple moving average<\/a>. On the upside, immediate resistance is near the $45,300 level. There is also a key bullish flag forming with resistance near $45,300 on the hourly chart of the BTC\/USD pair.<\/p>\n

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

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

The first major resistance is $46,000. A close above the $46,000 level could send the price further higher. The next major resistance sits at $46,800. Any more gains above the $46,800 level could open the doors for a move toward the $48,000 level.<\/p>\n

More Downsides In BTC?<\/h2>\n

If Bitcoin fails to rise above the $45,300 resistance zone, it could start a downside correction. Immediate support on the downside is near the $44,800 level.<\/p>\n

The next major support is near $44,000. If there is a move below $44,000, there is a risk of more losses. In the stated case, the price could drop toward the $43,600 support or the 50% Fib retracement level of the upward move from the $41,300 swing low to the $45,900 high in the near term.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now losing 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 $44,800, followed by $44,000.<\/p>\n

Major Resistance Levels \u2013 $45,300, $46,000, and $46,800.<\/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-34699","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\/34699","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=34699"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34699\/revisions"}],"predecessor-version":[{"id":34706,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34699\/revisions\/34706"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=34699"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=34699"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=34699"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}