{"id":35941,"date":"2024-02-09T03:52:37","date_gmt":"2024-02-09T07:52:37","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=35941"},"modified":"2024-02-09T03:52:37","modified_gmt":"2024-02-09T07:52:37","slug":"bitcoin-price-climbs-to-46k-uptrend-could-extend-to-48k","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2024\/02\/09\/bitcoin-price-climbs-to-46k-uptrend-could-extend-to-48k\/","title":{"rendered":"Bitcoin Price Climbs To $46K, Uptrend Could Extend To $48K?"},"content":{"rendered":"

Bitcoin price is gaining pace above the $45,500 resistance. BTC tested $46,000 and could extend its rally toward the $48,000 resistance.<\/em><\/p>\n

Bitcoin price climbed higher above the $44,500 and $45,000 resistance levels.
\nThe price is trading above $45,000 and the 100 hourly Simple moving average.
\nThere is a key connecting bullish trend line forming with support at $45,480 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could continue to move up if it clears the $46,000 resistance zone.<\/p>\n

Bitcoin Price Jumps 5%<\/h2>\n

Bitcoin price started a steady increase above the $43,500 resistance zone<\/a>. BTC cleared a few hurdles near the $44,000 and $44,200 levels to move into a positive zone.<\/p>\n

The bulls gained strength and were able to pump the price above the $45,000 resistance. It traded close to the $46,000 level. A new multi-day high is formed near $45,955 and the price is showing signs of more gains in the near term.<\/p>\n

Bitcoin is trading well above the 23.6% Fib retracement level of the recent surge from the $42,765 swing low to the $45,955 high. It is also trading above $45,000 and the 100 hourly Simple moving average<\/a>.<\/p>\n

Besides, there is a key connecting bullish trend line forming with support at $45,480 on the hourly chart of the BTC\/USD pair. Immediate resistance is near the $46,000 level. The next key resistance could be $46,200, above which the price could start another decent increase.<\/p>\n

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

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

The next stop for the bulls may perhaps be $46,850. A clear move above the $46,850 resistance could send the price toward the $47,500 resistance. The next resistance could be near the $48,000 level.<\/p>\n

Downside Correction In BTC?<\/h2>\n

If Bitcoin fails to rise above the $46,000 resistance zone, it could start a downside correction. Immediate support on the downside is near the $45,500 level or the trend line.<\/p>\n

The first major support is $44,400 and the 50% Fib retracement level of the recent surge from the $42,765 swing low to the $45,955 high. If there is a close below $44,400, the price could gain bearish momentum. In the stated case, the price could dive toward the $43,500 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 $45,500, followed by $44,400.<\/p>\n

Major Resistance Levels \u2013 $46,000, $46,200, and $47,500.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price is gaining pace above the $45,500 resistance. BTC tested $46,000 and could extend its rally toward the $48,000 resistance.<\/em><\/p>\n

Bitcoin price climbed higher above the $44,500 and $45,000 resistance levels.
\nThe price is trading above $45,000 and the 100 hourly Simple moving average.
\nThere is a key connecting bullish trend line forming with support at $45,480 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could continue to move up if it clears the $46,000 resistance zone.<\/p>\n

Bitcoin Price Jumps 5%<\/h2>\n

Bitcoin price started a steady increase above the $43,500 resistance zone<\/a>. BTC cleared a few hurdles near the $44,000 and $44,200 levels to move into a positive zone.<\/p>\n

The bulls gained strength and were able to pump the price above the $45,000 resistance. It traded close to the $46,000 level. A new multi-day high is formed near $45,955 and the price is showing signs of more gains in the near term.<\/p>\n

Bitcoin is trading well above the 23.6% Fib retracement level of the recent surge from the $42,765 swing low to the $45,955 high. It is also trading above $45,000 and the 100 hourly Simple moving average<\/a>.<\/p>\n

Besides, there is a key connecting bullish trend line forming with support at $45,480 on the hourly chart of the BTC\/USD pair. Immediate resistance is near the $46,000 level. The next key resistance could be $46,200, above which the price could start another decent increase.<\/p>\n

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

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

The next stop for the bulls may perhaps be $46,850. A clear move above the $46,850 resistance could send the price toward the $47,500 resistance. The next resistance could be near the $48,000 level.<\/p>\n

Downside Correction In BTC?<\/h2>\n

If Bitcoin fails to rise above the $46,000 resistance zone, it could start a downside correction. Immediate support on the downside is near the $45,500 level or the trend line.<\/p>\n

The first major support is $44,400 and the 50% Fib retracement level of the recent surge from the $42,765 swing low to the $45,955 high. If there is a close below $44,400, the price could gain bearish momentum. In the stated case, the price could dive toward the $43,500 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 $45,500, followed by $44,400.<\/p>\n

Major Resistance Levels \u2013 $46,000, $46,200, and $47,500.<\/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-35941","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\/35941","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=35941"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/35941\/revisions"}],"predecessor-version":[{"id":35947,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/35941\/revisions\/35947"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=35941"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=35941"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=35941"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}