The price of Bitcoin is having a hard time going above $43,500. BTC might go up if it moves above the $44,000 resistance level.
- The price of Bitcoin stayed around $41,500 for a while.
- The price is above $42,500 and the 100-hour moving average.
- On the hourly chart of the BTC/USD pair from Kraken, a key rising channel is forming with resistance around $44,000.
- The pair may go up if it moves past the $44,000 resistance area.
Bitcoin’s price is encountering obstacles.
The price of Bitcoin stopped going down around $41,500 and has now started to stay at a similar level for a while. BTC was able to go up a bit and reach levels above $42,000 and $42,200.
The price went up even higher than 23. 6% of the main drop from $49,000 to $41,475. On the chart for BTC/USD, there is a channel going up and hitting a barrier at around $44,000.
Bitcoin’s current price is higher than $42,500 and the 100-hour moving average. If the bulls keep pushing the price up, it might go past the $43,250 barrier. The first big challenge is at $44,000 or the trend line in the chart.
The price might go up to $44,450 if it goes past the $44,000 barrier. The next level where there might be a challenge is around $45,250. It is close to halfway between the highest and lowest points, at around 50% of the way. If the price goes above $45,250, it could go even higher. The next big level where the price might have trouble going higher is $47,000.
Is BTC Going Down Again?
If Bitcoin can’t go up past $44,000, it might go down again. The price might not fall below $42,800 or the 100-hour moving average.
The next big support level is at $42,120. If the price goes below $42,120, it could start going down even more. In this situation, the price might go down to $41,500 soon.
Indicators used to analyze financial markets.
The MACD is now slowing down in a negative zone.
The RSI for BTC/USD is higher than 50.
The major support levels are at $42,800 and then at $42,120.
Levels where it’s hard for the price to go higher – $43,250, $44,000, and $44,450.
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