BITCOIN

Bitcoin reconsiders $ 45K, why dips become attractive in the short term


The price of Bitcoin has risen above $ 44,000 against the US dollar. BTC traded close to 45 45,000 and it could be lower in the short term.

  • Bitcoin started a recovery wave above the মাত্র 43,000 and $ 43,000 resistance levels.
  • Prices are now trading above the simple simple average of $ 44,000 and 100 hours.
  • The BTC / USD pair (data feed from Kraken) has a key emerging channel with support around $ 44,250 per hour on the chart.
  • The pair could move towards the $ 43,500 support zone and 100 hour SMA.

Bitcoin prices are rising

The price of Bitcoin has started a decent rise above the 43,000 level. BTC had a good bid and it was able to build a resistance level of $ 44,000 and a simple simple average of 100 hours.

Even prices have risen above 44 44,500 and traded around 45 45,000. A high is formed around $ 44,934 and prices are now low corrected. There was a break below $ 44,500 and 44 44,400.

An immediate support is near the 44,300 level. The BTC / USD pair’s hourly chart also has a key emerging channel with support near $ 44,250. The pair also traded above the recent wave’s 23.6% Fib retracement level of 39 39,580 to above, 44,934.

Source: BTCUSD on TradingView.com

Side upward, an immediate resistance near the 44,800 level. The first big resistance is near the $ 45,000 level. A clear break above $ 44,800 and 45,000 could start another rise. The next major resistance is near the 46,200 zone, above which the price may move towards the $ 47,000 resistance.

Dips Limited in BTC?

If Bitcoin fails to clear the $ 45,000 resistance zone, it could start a new fall. On the downside an immediate support is near the 44,300 level.

The next major support is near the $ 44,250 zone and the channel trend line. A negative break below the channel support price could lead to a সর 43,500 support zone or a simple simple average of 100 hours. The 50% Fib retracement level of the recent wave could be priced from 39 39,580 to a low of $ 44,934 to 42 42,250 due to any damage.

Technical indicators:

MACD per hour – MACD is slowly losing momentum in the bullish zone.

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

Major Support Level – $ 44,250, followed by $ 43,500.

Major resistance levels – $ 44,800, $ 45,000 and $ 46,200.



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