Bitcoin Price Needs To Clear $24,000 For Hopes of a Fresh Rally

2023-3-2 06:25

Bitcoin price is still well below the $24,000 resistance. BTC must clear the $24,000 barrier to move into a bullish zone and start a fresh rally.

Bitcoin is still facing hurdles and trading below the $23,650 resistance zone. The price is trading above $23,320 and the 100 hourly simple moving average. There is a key contracting triangle forming with resistance near $23,600 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh rally if it clears the $23,650 and $24,000 resistance levels. Bitcoin Price Faces Resistance

Bitcoin price remained capped near the $23,650 and $23,950 levels. BTC attempted an upside break above the $24,000 resistance but failed. A high was formed near $23,977 and the price started a fresh decline.

There was a move below the $23,600 level. The price traded below the 50% Fib retracement level of the upward move from the $23,042 swing low to $23,977 high. However, the bulls were active near the $23,350 and $23,400 levels.

Bitcoin price is now trading above $23,320 and the 100 hourly simple moving average. It is also above the 61.8% Fib retracement level of the upward move from the $23,042 swing low to $23,977 high.

An immediate resistance is near the $23,550 zone. There is also a key contracting triangle forming with resistance near $23,600 on the hourly chart of the BTC/USD pair. The first major resistance is near the $23,650 zone. A clear move above the $23,650 resistance might start a steady increase towards the $24,000 resistance zone.

Source: BTCUSD on TradingView.com

The next key resistance is near the $24,200 zone, above which the price might move into a bullish zone. In the stated case, the price may perhaps rise towards the $25,200 resistance.

Fresh Decline in BTC?

If bitcoin price fails to clear the $23,600 resistance, it could start another decline. An immediate support on the downside is near the $23,350 zone.

The next major support is near the $23,050 zone. The main support sits at $22,800, below which the bears might gain strength and push the price to $22,200. The next major support is near the $22,000 level.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $23,000, followed by $22,800.

Major Resistance Levels – $23,600, $24,000 and $24,600.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 66391.13 (+0.47%)
Объем 24H $19.179b
Изменеия 24h: -0.75 %, 7d: 8.22 %
Cегодня L: $66031.14 - H: $66391.13
Капитализация $1307.215b Rank 1
Цена в час новости $ 23450.6 (183.11%)

bitcoin still zone resistance rally below price

Источник: newsbtc.com

bitcoin still → Результатов: 126


Bitcoin Supply In Profit Continues Decline, But Still Not At Historical Bottom Zone

Data shows the Bitcoin supply in profit has continued its decline, but the metric has still not reached levels as low as the previous bear market bottoms. Around 50% Of The Bitcoin Supply Is In Profit At The Moment According to the latest weekly report from Glassnode, the current profitability levels in the BTC market are still above the 40%-42% values that were observed during historical bottoms.

2022-10-12 22:00


Фото:

Bitcoin Stock-to-Flow Still ‘Intact’ Says Creator, Crypto Fear Index Taps 12-Month Low

The leading cryptocurrency bitcoin has dropped 20% in value after Tesla announced on May 12, the electric car firm would not be accepting bitcoin for purchases. Two days later, the creator of the notorious stock-to-flow cross-asset (S2FX) price model, Plan B, shared his model and said the S2FX was still “intact.” Plan B still shows […]

2021-5-17 18:00


Фото:

This Bitcoin Metric Shows Just How Far Away The Top Could Be

Bitcoin price is still more than 10% away from the highs set last month, and bulls have been struggling to regain the powerful momentum they had on the way up. However, while price action is feigning signs of being exhausted, blockchain data shows that growth in actual Bitcoin adoption is still on a steady, parabolic incline and is nowhere close to peak levels historically.

2021-3-5 19:40


Is The Bitcoin Market Still In An Early Stage Of The Coming Bull Run?

In the past 2 months, the price of bitcoin has continued to surge, hitting a year-to-date record high of $8,300. Remarkably, despite a recent large-scale security breach that occurs on Binance ( resulting in a loss of around 7,000 BTC), traders’ confidence is still returning to the market, and the BTC price has kept climbing […] The post Is The Bitcoin Market Still In An Early Stage Of The Coming Bull Run? appeared first on ZyCrypto.

2019-6-5 22:05


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru