The price of bitcoin has built a base above $34,500. As a result, BTC began to rise sharply and smashed over numerous barriers near the $38,000 mark.
On the 4-hours chart of the BTC/USD pair, there was a break over a critical negative trend line with resistance above $41,000. The pair even surpassed the $40,000 level and the 55-day simple moving average (4-hours). The price of gold has clearly moved above the $42,000 mark.
Near $44,993, a high was made, and the BTC price is now consolidating gains. Near the $44,750 level, there is instant resistance. On the upside, the next significant obstacle is near $45,000.
In order to begin another increase, the price must rise above $45,000 in the near future.
The next significant resistance level might be $46,600, after which B price could rise to $48,000. If there is no upside break, the price could begin to fall below $43,500.
The next important level of support is about $43,000. It’s close to the 23.6 percent Fib retracement level of the upward advance from the swing low of $37,020 to the high of $44,933.
The key BTC support is near $41,000, or the Fib retracement level of the upward run from the $37,020 swing low to $44,933 high, and a move towards the $40,000 level is possible if it breaks through. If there are any more losses, the critical $38,800 support zone may be possible.
Source : TradingView
The price of BTC is firmly over $40,000 and the 55-day simple moving average (4-hours).
To continue rising in the near future, the price must clear $44,750 and then $45,800.
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