BITCOIN

Bitcoin has reached a critical juncture, can BTC overcome this hurdle?


Bitcoin is worth over $ 43,500 against the US dollar. BTC now faces a major hurdle near $ 44,200 and $ 44,400.

  • Bitcoin has recovered above the resistance levels of $ 42,500 and $ 43,500.
  • Prices are now trading above the simple simple average of $ 43,000 and 100 hours.
  • The BTC / USD pair (data feed from Kraken) has a growing channel with support around $ 43,340 per hour on the chart.
  • The pair could be even higher if there is a clear break above the $ 44,400 resistance.

Bitcoin price reconsiders resistance

The price of Bitcoin was stable and boosted its rise above 43 43,000. BTC even broke the এর 43,500 level and stood above the 100-hour simple moving average.

However, the price is still struggling to clear the মাত্র 44,200 and $ 44,400 resistance levels. A high is formed around, 44,100 and the price is now consolidating profits. It is now trading above the simple simple average of $ 43,000 and 100 hours.

An immediate support is close to the 43,500 level. The BTC / USD pair also has a rising channel with support around $ 43,340 per hour chart.

বৃদ্ধ 40,891 swing low to $ 44,100 high recent channel support near 23.6% Fib retracement level. Side upward, an immediate resistance near the 44,100 level.

Source: BTCUSD on TradingView.com

The first big resistance is near the 44,400 level, above which the price could start a big rise. The next major resistance is near the $ 45,500 level. Further gains could determine the pace of progress towards the 47,200 level.

New fall in BTC?

If Bitcoin fails to clear the অঞ্চ 44,100 resistance zone, it could start a new negative correction. On the downside an immediate support is near the $ 43,500 level. The first major support is now forming near the $ 43,350 level and the channel trend line.

A break below the $ 43,350 level could push the price to the $ 42,500 level. This is near the recent increase of 50% Fib retracement level from কম 40,891 swing low to $ 44,100 high. Also, the 100-hour SMA is around the $ 42,500 zone which provides support.

Technical indicators:

Hourly MACD – MACD is now losing momentum in the bullish zone.

Hourly RSI (Relative Strength Index) – RTC of BTC / USD is now above 50 level.

Key Support Level – $ 43,350, followed by $ 42,500.

Major resistance levels – $ 44,100, $ 44,400 and $ 45,500.



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