{"id":472786,"date":"2021-09-30T03:08:42","date_gmt":"2021-09-30T03:08:42","guid":{"rendered":"https:\/\/ktsl888.com\/?p=472786"},"modified":"2024-06-11T13:59:05","modified_gmt":"2024-06-11T13:59:05","slug":"bitcoin-regains-strength-43k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-regains-strength-43k\/","title":{"rendered":"TA: Bitcoin Regains Strength, Why Crypto Market Could Rally In Near Term"},"content":{"rendered":"
Bitcoin price remained well bid above the $40,750 support against the US Dollar. BTC seems to be forming a bottom near $40,750 and it could start a strong rally.<\/em><\/p>\n Bitcoin price remained strong above the $40,750 support level. As a result, BTC started a fresh increase<\/a> above the $41,500 resistance level. There was a clear break above the $42,000 level and the 100 hourly simple moving average.<\/p>\n Besides, there was a break above a key bearish trend line with resistance near $42,200 on the hourly chart of the BTC\/USD pair. The pair climbed above the 50% Fib retracement level of the key decline from the $44,325 swing high to $40,771 low.<\/p>\n Bitcoin is now trading above $42,500 and the 100 hourly simple moving average<\/a>. On the upside, an immediate resistance is near the $43,200 level.<\/p>\n <\/a><\/p>\n The first major resistance is near the $43,500 level. It is close to the 76.4% Fib retracement level of the key decline from the $44,325 swing high to $40,771 low. The next major resistance is near the $44,350 level, above which the price could accelerate higher. In the stated case, it could test the $45,500 resistance.<\/p>\n If bitcoin fails to clear the $43,500 resistance zone, it could start a fresh downside correction. An immediate support on the downside is near the $42,800 level.<\/p>\n The first major support is now forming near the $42,500 level and the 100 hourly simple moving average. A break below the $42,500 level might push the price towards the $41,500 level. The main breakdown support is still near the $40,750 zone, below which there could be a sharp decline 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 well above the 50 level.<\/p>\n Major Support Levels \u2013 $42,500, followed by $41,500.<\/p>\n Major Resistance Levels \u2013 $43,500, $44,350 and $45,500.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin price remained well bid above the $40,750 support against the US Dollar. BTC seems to be forming a bottom near $40,750 and it could start a strong rally. Bitcoin recovered above the $41,500 and $42,000 resistance levels. The price is now trading above $42,500 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $42,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could accelerate further higher towards the $44,200 resistance zone in the near term. Bitcoin Price Gains Pace Bitcoin price remained strong above the $40,750 support level. As a result, BTC started a fresh increase above the $41,500 resistance level. There was a clear break above the $42,000 level and the 100 hourly simple moving average. Besides, there was a break above a key bearish trend line with resistance near $42,200 on the hourly chart of the BTC\/USD pair. The pair climbed above the 50% Fib retracement level of the key decline from the $44,325 swing high to $40,771 low. Bitcoin is now trading above $42,500 and the 100 hourly simple moving average. On the upside, an immediate resistance is near the $43,200 level. Source: BTCUSD on TradingView.com The first major resistance is near the $43,500 level. It is close to the 76.4% Fib retracement level of the key decline from the $44,325 swing high to $40,771 low. The next major resistance is near the $44,350 level, above which the price could accelerate higher. In the stated case, it could test the $45,500 resistance. Fresh Decline In BTC? If bitcoin fails to clear the $43,500 resistance zone, it could start a fresh downside correction. An immediate support on the downside is near the $42,800 level. The first major support is now forming near the $42,500 level and the 100 hourly simple moving average. A break below the $42,500 level might push the price towards the $41,500 level. The main breakdown support is still near the $40,750 zone, below which there could be a sharp decline in the near term. Technical indicators: Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now well above the 50 level. Major Support Levels \u2013 $42,500, followed by $41,500. Major Resistance Levels \u2013 $43,500, $44,350 and $45,500.<\/p>\n","protected":false},"author":67,"featured_media":459898,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1144,78790,76835],"class_list":["post-472786","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n\n
Bitcoin Price Gains Pace<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Fresh Decline In BTC?<\/h2>\n