{"id":568661,"date":"2024-01-09T03:01:14","date_gmt":"2024-01-09T03:01:14","guid":{"rendered":"https:\/\/ktsl888.com\/?p=568661"},"modified":"2024-06-11T14:44:11","modified_gmt":"2024-06-11T14:44:11","slug":"bitcoin-price-rallies-48k-imminent","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-price-rallies-48k-imminent\/","title":{"rendered":"Bitcoin Price Rallies 5% and $48K Now Seems Imminent"},"content":{"rendered":"<p><em>Bitcoin price was able to clear the $44,500 and $44,700 resistance levels. BTC is up over 5% and might soon attempt a move toward $48,000.<\/em><\/p>\n<ul>\n<li>Bitcoin is gaining pace above the $45,500 resistance zone.<\/li>\n<li>The price is trading above $45,000 and the 100 hourly Simple moving average.<\/li>\n<li>There was a break above a key contracting triangle with resistance near $44,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could continue to move up toward the $48,000 level unless there is a close below $44,000.<\/li>\n<\/ul>\n<h2>Bitcoin Price Starts Fresh Increase<\/h2>\n<p>Bitcoin price started a fresh increase above the <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-plunge-imminent-42150\/\" target=\"_blank\" rel=\"noopener \">$43,500 resistance zone<\/a>. BTC gained bullish momentum above the $44,000 and $44,500 levels to move into a positive zone.<\/p>\n<p>There was a break above a key contracting triangle with resistance near $44,000 on the hourly chart of the BTC\/USD pair. The bulls pumped the price to a new multi-day high at $47,306 and the price is now consolidating gains.<\/p>\n<p>Bitcoin is now trading above $45,000 and the <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-faces-rejection-44500\/\" target=\"_blank\" rel=\"noopener \">100 hourly Simple moving average<\/a>. It is also above the 23.6% Fib retracement level of the upward move from the $43,208 swing low to the $47,306 high.<\/p>\n<p>On the upside, immediate resistance is near the $47,000 level. The first major resistance is $47,200. A clear move above the $47,200 resistance could send the price toward the $48,000 resistance. The next resistance is now forming near the $48,800 level.<\/p>\n<p><a href=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/01\/Bitcoin-7.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-568662\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/01\/Bitcoin-7.png?resize=1024%2C461\" alt=\"Bitcoin Price\" width=\"1024\" height=\"461\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/01\/Bitcoin-7.png?w=1835 1835w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/01\/Bitcoin-7.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/01\/Bitcoin-7.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/01\/Bitcoin-7.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/01\/Bitcoin-7.png?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/01\/Bitcoin-7.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/01\/Bitcoin-7.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 $48,800 level could send the price further higher. The next major resistance sits at $49,250. Any more gains above the $49,250 level could open the doors for a move toward the $50,000 level.<\/p>\n<h2>Another Drop In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $47,200 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $46,400 level.<\/p>\n<p>The next major support is near $45,900. If there is a move below $45,900, the price could gain bearish momentum. In the stated case, the price could drop toward the $45,250 support or the 50% Fib retracement level of the upward move from the $43,208 swing low to the $47,306 high in the near term.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining 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 $46,400, followed by $45,250.<\/p>\n<p>Major Resistance Levels \u2013 $47,000, $47,200, and $48,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price was able to clear the $44,500 and $44,700 resistance levels. BTC is up over 5% and might soon attempt a move toward $48,000. Bitcoin is gaining pace above the $45,500 resistance zone. The price is trading above $45,000 and the 100 hourly Simple moving average. There was a break above a key contracting triangle with resistance near $44,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could continue to move up toward the $48,000 level unless there is a close below $44,000. Bitcoin Price Starts Fresh Increase Bitcoin price started a fresh increase above the $43,500 resistance zone. BTC gained bullish momentum above the $44,000 and $44,500 levels to move into a positive zone. There was a break above a key contracting triangle with resistance near $44,000 on the hourly chart of the BTC\/USD pair. The bulls pumped the price to a new multi-day high at $47,306 and the price is now consolidating gains. Bitcoin is now trading above $45,000 and the 100 hourly Simple moving average. It is also above the 23.6% Fib retracement level of the upward move from the $43,208 swing low to the $47,306 high. On the upside, immediate resistance is near the $47,000 level. The first major resistance is $47,200. A clear move above the $47,200 resistance could send the price toward the $48,000 resistance. The next resistance is now forming near the $48,800 level. Source: BTCUSD on TradingView.com A close above the $48,800 level could send the price further higher. The next major resistance sits at $49,250. Any more gains above the $49,250 level could open the doors for a move toward the $50,000 level. Another Drop In BTC? If Bitcoin fails to rise above the $47,200 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $46,400 level. The next major support is near $45,900. If there is a move below $45,900, the price could gain bearish momentum. In the stated case, the price could drop toward the $45,250 support or the 50% Fib retracement level of the upward move from the $43,208 swing low to the $47,306 high 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 above the 50 level. Major Support Levels \u2013 $46,400, followed by $45,250. Major Resistance Levels \u2013 $47,000, $47,200, and $48,000.<\/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":[428,679,1144,78790,76835],"class_list":["post-568661","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 Rallies 5% and $48K Now Seems Imminent<\/title>\n<meta name=\"description\" content=\"Bitcoin price was able to clear the $44,500 and $44,700 resistance levels. 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