{"id":35697,"date":"2024-02-02T03:53:52","date_gmt":"2024-02-02T07:53:52","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=35697"},"modified":"2024-02-02T03:53:52","modified_gmt":"2024-02-02T07:53:52","slug":"bitcoin-price-could-see-liftoff-if-its-able-to-hold-one-crucial-level","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2024\/02\/02\/bitcoin-price-could-see-liftoff-if-its-able-to-hold-one-crucial-level\/","title":{"rendered":"Bitcoin Price Could See \u201cLiftoff\u201d if It\u2019s Able to Hold One Crucial Level"},"content":{"rendered":"

Bitcoin price is attempting a fresh increase from the $42,000 support. BTC could gain bullish momentum if it clears the $43,300 resistance zone.<\/em><\/p>\n

Bitcoin price is attempting a fresh increase above the $42,750 resistance zone.
\nThe price is trading above $42,800 and the 100 hourly Simple moving average.
\nThere is a short-term rising channel forming with support near $42,950 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could continue to rise unless there is a close below the $42,350 support zone.<\/p>\n

Bitcoin Price Remains Supported<\/h2>\n

Bitcoin price formed a base above the $42,000 level<\/a> and started a steady increase. BTC was able to climb above the $42,200 and $42,500 resistance levels.<\/p>\n

There was a move above the 50% Fib retracement level of the downward wave from the $43,740 swing high to the $41,888 low. The bulls were able push the price above the $43,000 resistance. There is now a short-term rising channel forming with support near $42,950 on the hourly chart of the BTC\/USD pair.<\/p>\n

Bitcoin is now trading above $42,800 and the 100 hourly Simple moving average<\/a>. Immediate resistance is near the $43,300 level. It is near the 76.4% Fib retracement level of the downward wave from the $43,740 swing high to the $41,888 low.<\/p>\n

The next key resistance could be $43,750, above which the price could start a decent increase. The next stop for the bulls may perhaps be $44,000.<\/p>\n

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

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

A clear move above the $44,000 resistance could send the price toward the $44,200 resistance. The next resistance is now forming near the $44,500 level. A close above the $44,500 level could push the price further higher. The next major resistance sits at $45,000.<\/p>\n

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

If Bitcoin fails to rise above the $43,300 resistance zone, it could start another decline. Immediate support on the downside is near the $43,000 level and the channel trend line.<\/p>\n

The first major support is $42,800 and the 100 hourly SMA. The main support could be $42,350. If there is a close below $42,350, the price could gain bearish momentum. In the stated case, the price could dive toward the $41,800 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 $42,800, followed by $42,350.<\/p>\n

Major Resistance Levels \u2013 $43,300, $43,800, and $44,500.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price is attempting a fresh increase from the $42,000 support. BTC could gain bullish momentum if it clears the $43,300 resistance zone.<\/em><\/p>\n

Bitcoin price is attempting a fresh increase above the $42,750 resistance zone.
\nThe price is trading above $42,800 and the 100 hourly Simple moving average.
\nThere is a short-term rising channel forming with support near $42,950 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could continue to rise unless there is a close below the $42,350 support zone.<\/p>\n

Bitcoin Price Remains Supported<\/h2>\n

Bitcoin price formed a base above the $42,000 level<\/a> and started a steady increase. BTC was able to climb above the $42,200 and $42,500 resistance levels.<\/p>\n

There was a move above the 50% Fib retracement level of the downward wave from the $43,740 swing high to the $41,888 low. The bulls were able push the price above the $43,000 resistance. There is now a short-term rising channel forming with support near $42,950 on the hourly chart of the BTC\/USD pair.<\/p>\n

Bitcoin is now trading above $42,800 and the 100 hourly Simple moving average<\/a>. Immediate resistance is near the $43,300 level. It is near the 76.4% Fib retracement level of the downward wave from the $43,740 swing high to the $41,888 low.<\/p>\n

The next key resistance could be $43,750, above which the price could start a decent increase. The next stop for the bulls may perhaps be $44,000.<\/p>\n

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

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

A clear move above the $44,000 resistance could send the price toward the $44,200 resistance. The next resistance is now forming near the $44,500 level. A close above the $44,500 level could push the price further higher. The next major resistance sits at $45,000.<\/p>\n

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

If Bitcoin fails to rise above the $43,300 resistance zone, it could start another decline. Immediate support on the downside is near the $43,000 level and the channel trend line.<\/p>\n

The first major support is $42,800 and the 100 hourly SMA. The main support could be $42,350. If there is a close below $42,350, the price could gain bearish momentum. In the stated case, the price could dive toward the $41,800 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 $42,800, followed by $42,350.<\/p>\n

Major Resistance Levels \u2013 $43,300, $43,800, and $44,500.<\/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-35697","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\/35697","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=35697"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/35697\/revisions"}],"predecessor-version":[{"id":35705,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/35697\/revisions\/35705"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=35697"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=35697"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=35697"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}