{"id":35553,"date":"2024-01-29T02:57:29","date_gmt":"2024-01-29T06:57:29","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=35553"},"modified":"2024-01-29T02:57:29","modified_gmt":"2024-01-29T06:57:29","slug":"bitcoin-price-restarts-increase-can-btc-pump-to-45k-again","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2024\/01\/29\/bitcoin-price-restarts-increase-can-btc-pump-to-45k-again\/","title":{"rendered":"Bitcoin Price Restarts Increase \u2013 Can BTC Pump To $45K Again?"},"content":{"rendered":"

Bitcoin price is recovering higher above the $42,000 resistance. BTC must clear $42,800 and $43,500 to start an increase toward the $45,000 resistance.<\/em><\/p>\n

Bitcoin price is moving higher above the $42,000 resistance zone.
\nThe price is trading above $41,500 and the 100 hourly Simple moving average.
\nThere is a key bullish trend line forming with support near $41,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a steady increase if it clears the $42,800 and $43,500 resistance levels.<\/p>\n

Bitcoin Price Aims Higher<\/h2>\n

Bitcoin price formed a support base above the $40,000 support zone<\/a>. BTC started a decent increase above the $41,200 and $41,500 resistance levels.<\/p>\n

It opened the doors for more gains above $42,000 and the 100 hourly Simple moving average. Finally, the price tested the $42,800 zone. A high was formed near $42,800 before there was a minor decline. The price declined below the $42,200 level.<\/p>\n

Bitcoin tested the 23.6% Fib retracement level of the upward move from the $38,518 swing low to the $42,800 high. There is also a key bullish trend line forming with support near $41,500 on the hourly chart of the BTC\/USD pair.<\/p>\n

The price is now trading above $41,500 and the 100 hourly Simple moving average<\/a>. Immediate resistance is near the $42,500 level. The next key resistance could be $42,800, above which the price could rise and test $43,500.<\/p>\n

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

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

A clear move above the $43,500 resistance could send the price toward the $44,250 resistance. The next resistance is now forming near the $45,000 level. A close above the $45,000 level could push the price further higher. The next major resistance sits at $46,500.<\/p>\n

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

If Bitcoin fails to rise above the $42,800 resistance zone, it could start another decline. Immediate support on the downside is near the $41,750 level.<\/p>\n

The next major support is $41,500 and the trend line. If there is a close below $41,500, the price could gain bearish momentum. In the stated case, the price could dive toward the $40,650 support or the 50% Fib retracement level of the upward move from the $38,518 swing low to the $42,800 high 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 $41,500, followed by $40,650.<\/p>\n

Major Resistance Levels \u2013 $42,800, $43,500, and $45,000.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price is recovering higher above the $42,000 resistance. BTC must clear $42,800 and $43,500 to start an increase toward the $45,000 resistance.<\/em><\/p>\n

Bitcoin price is moving higher above the $42,000 resistance zone.
\nThe price is trading above $41,500 and the 100 hourly Simple moving average.
\nThere is a key bullish trend line forming with support near $41,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a steady increase if it clears the $42,800 and $43,500 resistance levels.<\/p>\n

Bitcoin Price Aims Higher<\/h2>\n

Bitcoin price formed a support base above the $40,000 support zone<\/a>. BTC started a decent increase above the $41,200 and $41,500 resistance levels.<\/p>\n

It opened the doors for more gains above $42,000 and the 100 hourly Simple moving average. Finally, the price tested the $42,800 zone. A high was formed near $42,800 before there was a minor decline. The price declined below the $42,200 level.<\/p>\n

Bitcoin tested the 23.6% Fib retracement level of the upward move from the $38,518 swing low to the $42,800 high. There is also a key bullish trend line forming with support near $41,500 on the hourly chart of the BTC\/USD pair.<\/p>\n

The price is now trading above $41,500 and the 100 hourly Simple moving average<\/a>. Immediate resistance is near the $42,500 level. The next key resistance could be $42,800, above which the price could rise and test $43,500.<\/p>\n

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

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

A clear move above the $43,500 resistance could send the price toward the $44,250 resistance. The next resistance is now forming near the $45,000 level. A close above the $45,000 level could push the price further higher. The next major resistance sits at $46,500.<\/p>\n

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

If Bitcoin fails to rise above the $42,800 resistance zone, it could start another decline. Immediate support on the downside is near the $41,750 level.<\/p>\n

The next major support is $41,500 and the trend line. If there is a close below $41,500, the price could gain bearish momentum. In the stated case, the price could dive toward the $40,650 support or the 50% Fib retracement level of the upward move from the $38,518 swing low to the $42,800 high 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 $41,500, followed by $40,650.<\/p>\n

Major Resistance Levels \u2013 $42,800, $43,500, 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-35553","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\/35553","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=35553"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/35553\/revisions"}],"predecessor-version":[{"id":35556,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/35553\/revisions\/35556"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=35553"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=35553"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=35553"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}