{"id":35588,"date":"2024-01-30T04:52:36","date_gmt":"2024-01-30T08:52:36","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=35588"},"modified":"2024-01-30T04:52:36","modified_gmt":"2024-01-30T08:52:36","slug":"bitcoin-price-regains-strength-as-the-bulls-aim-for-retest-of-45k","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2024\/01\/30\/bitcoin-price-regains-strength-as-the-bulls-aim-for-retest-of-45k\/","title":{"rendered":"Bitcoin Price Regains Strength As The Bulls Aim For Retest of $45K"},"content":{"rendered":"

Bitcoin price is gaining pace above the $42,500 resistance. BTC is showing positive signs and might extend its increase toward the $45,000 resistance.<\/em><\/p>\n

Bitcoin price is moving higher above the $42,500 resistance zone.
\nThe price is trading above $43,000 and the 100 hourly Simple moving average.
\nThere is a major bullish trend line forming with support near $42,150 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could continue to rise if it clears the $43,800 and $44,200 resistance levels.<\/p>\n

Bitcoin Price Climbs Higher<\/h2>\n

Bitcoin price started a decent increase above the $41,200 resistance zone<\/a>. BTC was able to clear the $42,500 and $42,800 resistance levels to move further into a positive zone.<\/p>\n

The bulls pushed the price above the $43,000 resistance and the price pumped toward $43,800. A new weekly high is formed near $43,779 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the upward move from the $41,651 swing low to the $43,779 high.<\/p>\n

Bitcoin is now trading above $43,000 and the 100 hourly Simple moving average<\/a>. There is also a major bullish trend line forming with support near $42,150 on the hourly chart of the BTC\/USD pair. The trend line is near the 76.4% Fib retracement level of the upward move from the $41,651 swing low to the $43,779 high.<\/p>\n

Immediate resistance is near the $43,800 level. The next key resistance could be $44,200, above which the price could rise and test $44,500. A clear move above the $44,500 resistance could send the price toward the $45,000 resistance.<\/p>\n

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

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

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

Are Dips Limited In BTC?<\/h2>\n

If Bitcoin fails to rise above the $43,800 resistance zone, it could start a downside correction. Immediate support on the downside is near the $43,200 level.<\/p>\n

The next major support is $42,500. The main support could be $42,200 and the trend line. If there is a close below $42,200, the price could gain bearish momentum. In the stated case, the price could dive toward the $40,650 support.<\/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 $43,200, followed by $42,500.<\/p>\n

Major Resistance Levels \u2013 $43,800, $44,500, and $45,000.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price is gaining pace above the $42,500 resistance. BTC is showing positive signs and might extend its increase toward the $45,000 resistance.<\/em><\/p>\n

Bitcoin price is moving higher above the $42,500 resistance zone.
\nThe price is trading above $43,000 and the 100 hourly Simple moving average.
\nThere is a major bullish trend line forming with support near $42,150 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could continue to rise if it clears the $43,800 and $44,200 resistance levels.<\/p>\n

Bitcoin Price Climbs Higher<\/h2>\n

Bitcoin price started a decent increase above the $41,200 resistance zone<\/a>. BTC was able to clear the $42,500 and $42,800 resistance levels to move further into a positive zone.<\/p>\n

The bulls pushed the price above the $43,000 resistance and the price pumped toward $43,800. A new weekly high is formed near $43,779 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the upward move from the $41,651 swing low to the $43,779 high.<\/p>\n

Bitcoin is now trading above $43,000 and the 100 hourly Simple moving average<\/a>. There is also a major bullish trend line forming with support near $42,150 on the hourly chart of the BTC\/USD pair. The trend line is near the 76.4% Fib retracement level of the upward move from the $41,651 swing low to the $43,779 high.<\/p>\n

Immediate resistance is near the $43,800 level. The next key resistance could be $44,200, above which the price could rise and test $44,500. A clear move above the $44,500 resistance could send the price toward the $45,000 resistance.<\/p>\n

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

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

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

Are Dips Limited In BTC?<\/h2>\n

If Bitcoin fails to rise above the $43,800 resistance zone, it could start a downside correction. Immediate support on the downside is near the $43,200 level.<\/p>\n

The next major support is $42,500. The main support could be $42,200 and the trend line. If there is a close below $42,200, the price could gain bearish momentum. In the stated case, the price could dive toward the $40,650 support.<\/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 $43,200, followed by $42,500.<\/p>\n

Major Resistance Levels \u2013 $43,800, $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-35588","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\/35588","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=35588"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/35588\/revisions"}],"predecessor-version":[{"id":35595,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/35588\/revisions\/35595"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=35588"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=35588"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=35588"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}