{"id":563869,"date":"2023-12-05T02:56:53","date_gmt":"2023-12-05T02:56:53","guid":{"rendered":"https:\/\/ktsl888.com\/?p=563869"},"modified":"2024-06-11T14:42:47","modified_gmt":"2024-06-11T14:42:47","slug":"bitcoin-price-extends-rally-42k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-price-extends-rally-42k\/","title":{"rendered":"Bitcoin Price Extends Rally Above $42K But Signs of Trend Exhaustion Appear"},"content":{"rendered":"<p><em>Bitcoin price extended its rally above the $42,000 resistance. BTC is now correcting gains and might test the $40,800 support zone.<\/em><\/p>\n<ul>\n<li>Bitcoin surged further above the $41,200 and $42,000 levels.<\/li>\n<li>The price is trading above $41,200 and the 100 hourly Simple moving average.<\/li>\n<li>There is a major bullish trend line forming with support near $40,880 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could correct lower toward $40,800 before it starts a fresh increase.<\/li>\n<\/ul>\n<h2>Bitcoin Price Rises Over 10%<\/h2>\n<p>Bitcoin price started a <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-surges-over-40k\/\" target=\"_blank\" rel=\"noopener \">strong increase above the $38,500 resistance zone<\/a>. BTC gained over 10% in the past few sessions and broke many hurdles near $40,000.<\/p>\n<p>It even cleared the $41,200 resistance and spiked above the $42,000 zone. A new multi-month high is formed near $42,415 and the price is now correcting gains. There was a move below the $42,000 level. The price is now testing the 23.6% Fib retracement level of the upward move from the $39,360 swing low to the $42,415 high.<\/p>\n<p>Bitcoin also trades above $41,200 and the <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-sprint-to-40000\/\" target=\"_blank\" rel=\"noopener \">100 hourly Simple moving average<\/a>. Besides, there is a major bullish trend line forming with support near $40,880 on the hourly chart of the BTC\/USD pair. The trend line is close to the 50% Fib retracement level of the upward move from the $39,360 swing low to the $42,415 high.<\/p>\n<p>On the upside, immediate resistance is near the $42,200 level. The first major resistance is forming near $42,500, above which the price might rise toward the $43,200 level.<\/p>\n<p><a href=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/Bitcoin-2.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-563870\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/Bitcoin-2.png?resize=1024%2C468\" alt=\"Bitcoin Price\" width=\"1024\" height=\"468\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/Bitcoin-2.png?w=1835 1835w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/Bitcoin-2.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/Bitcoin-2.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/Bitcoin-2.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/Bitcoin-2.png?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/Bitcoin-2.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/Bitcoin-2.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/p>\n<p>A close above the $43,200 resistance might send the price further higher. The next key resistance could be near $44,000, above which BTC could rise toward the $45,000 level.<\/p>\n<h2>Are Dips Limited In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $42,200 resistance zone, it could start a downside correction. Immediate support on the downside is near the $41,200 level.<\/p>\n<p>The next major support is near $40,800 and the trend line. If there is a move below $40,800, there is a risk of more downsides. In the stated case, the price could drop toward the $40,000 support in the near term.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now losing pace in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $41,200, followed by $40,800.<\/p>\n<p>Major Resistance Levels \u2013 $42,200, $42,500, and $43,200.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price extended its rally above the $42,000 resistance. BTC is now correcting gains and might test the $40,800 support zone. Bitcoin surged further above the $41,200 and $42,000 levels. The price is trading above $41,200 and the 100 hourly Simple moving average. There is a major bullish trend line forming with support near $40,880 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could correct lower toward $40,800 before it starts a fresh increase. Bitcoin Price Rises Over 10% Bitcoin price started a strong increase above the $38,500 resistance zone. BTC gained over 10% in the past few sessions and broke many hurdles near $40,000. It even cleared the $41,200 resistance and spiked above the $42,000 zone. A new multi-month high is formed near $42,415 and the price is now correcting gains. There was a move below the $42,000 level. The price is now testing the 23.6% Fib retracement level of the upward move from the $39,360 swing low to the $42,415 high. Bitcoin also trades above $41,200 and the 100 hourly Simple moving average. Besides, there is a major bullish trend line forming with support near $40,880 on the hourly chart of the BTC\/USD pair. The trend line is close to the 50% Fib retracement level of the upward move from the $39,360 swing low to the $42,415 high. On the upside, immediate resistance is near the $42,200 level. The first major resistance is forming near $42,500, above which the price might rise toward the $43,200 level. Source: BTCUSD on TradingView.com A close above the $43,200 resistance might send the price further higher. The next key resistance could be near $44,000, above which BTC could rise toward the $45,000 level. Are Dips Limited In BTC? If Bitcoin fails to rise above the $42,200 resistance zone, it could start a downside correction. Immediate support on the downside is near the $41,200 level. The next major support is near $40,800 and the trend line. If there is a move below $40,800, there is a risk of more downsides. In the stated case, the price could drop toward the $40,000 support in the near term. Technical indicators: Hourly MACD \u2013 The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level. Major Support Levels \u2013 $41,200, followed by $40,800. Major Resistance Levels \u2013 $42,200, $42,500, and $43,200.<\/p>\n","protected":false},"author":67,"featured_media":458186,"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":[428,679,1144,78790,76835],"class_list":["post-563869","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n<title>Bitcoin Price Extends Rally Above $42K But Signs of Trend Exhaustion Appear<\/title>\n<meta name=\"description\" content=\"Bitcoin price extended its rally above the $42,000 resistance. 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