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  • Bitcoin Key Indicators Suggest Strengthening Case For Fresh Surge

    Bitcoin Key Indicators Suggest Strengthening Case For Fresh Surge

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    Bitcoin is slowly gaining pace above $46,500 against the US Dollar. BTC must clear $47,000 to move into a positive territory in the short term.

    • Bitcoin is slowly moving higher above the $46,500 resistance zone.
    • The price is trading above $46,200 and the 100 hourly simple moving average.
    • There is a major bearish trend line forming with resistance near $46,700 on the hourly chart of the BTC/USD pair (data feed from Kraken).
    • The pair could start a strong increase if there is a clear move above the $47,000 resistance.

    Bitcoin Price Eyes Upside Break

    Bitcoin price extended decline and tested the $45,150 zone. BTC formed a base above $45,150 and started a fresh increase. There was a break above the $45,500 and $45,800 levels.

    The price was able to climb above the 50% Fib retracement level of the recent decline from the $47,444 swing low to $45,153 low. It is now trading above $46,200 and the 100 hourly simple moving average. On the upside, an immediate resistance is near the $46,700 level.

    Besides, there is a major bearish trend line forming with resistance near $46,700 on the hourly chart of the BTC/USD pair. The next resistance could be near $47,000 or the 76.4% Fib retracement level of the recent decline from the $47,444 swing low to $45,153 low.

    Bitcoin Price

    Source: BTCUSD on TradingView.com

    A clear move above the $47,000 resistance could start a major increase. In the stated case, the price may perhaps rise towards the $48,000 resistance. Any more gains might send the price towards the $50,000 barrier. An intermediate resistance may possibly be near the $49,250 level.

    Upsides Capped in BTC?

    If bitcoin fails to clear the $47,000 resistance zone, it could start another decline. An immediate support on the downside is near the $46,200 level and the 100 hourly simple moving average.

    The next major support is seen near the $45,800 level. The main support now sits near the $45,150 level. A downside break below the $45,150 support zone could start a major decline. In the stated case, the price could even decline to $44,000 in the near term.

    Technical indicators:

    Hourly MACD – The MACD is slowly gaining pace in the bullish zone.

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

    Major Support Levels – $46,200, followed by $45,150.

    Major Resistance Levels – $47,000, $48,000 and $50,000.

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  • Bitcoin Recovery Halts, Technicals Suggest Fresh Decline To $36K

    Bitcoin Recovery Halts, Technicals Suggest Fresh Decline To $36K

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    Bitcoin is struggling to recover above the $38,400 resistance zone against the US Dollar. BTC could resume decline if it stays below the $38,500 level.

    • Bitcoin is currently facing resistance near the $38,400 and $38,500 levels.
    • The price is trading below $38,500 and the 100 hourly simple moving average.
    • There is a crucial bearish trend line forming with resistance near $38,450 on the hourly chart of the BTC/USD pair (data feed from Kraken).
    • The pair could start a fresh decline if there is no clear move above $38,500.

    Bitcoin Price Faces Hurdle

    Bitcoin price found support near the $36,350 after a sharp decline. BTC formed a base and started a recovery wave above the $37,000 level. The price was able to surpass the $37,500 resistance level.

    The bulls pushed the price above the 50% Fib retracement level of the key decline from the $39,492 swing high to $36,366 low. There was also a push above the $38,000 level. However, the price is now facing a strong resistance near the $38,250 level.

    The 61.8% Fib retracement level of the key decline from the $39,492 swing high to $36,366 low is also near the $38,250 level. The next key resistance is near the $38,400 level.

    There is also a crucial bearish trend line forming with resistance near $38,450 on the hourly chart of the BTC/USD pair. A clear move above the trend line resistance could send the price to $38,800 and the 100 hourly simple moving average.

    Bitcoin Price

    Source: BTCUSD on TradingView.com

    To gain bullish momentum, the price must settle above the $38,800 level. In the stated case, there are chances of a move above the $39,500 resistance.

    Fresh Decline in BTC?

    If bitcoin fails to start a recovery wave above the $38,400 resistance zone, it could start a fresh decline. An immediate support on the downside is near the $37,250 zone.

    The next major support is seen near the $37,000 level. If there is a downside break below the $37,000 support zone, the price might gain bearish momentum for a move to $36,000. Any more losses could lead the price to $35,000.

    Technical indicators:

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

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

    Major Support Levels – $37,250, followed by $37,000.

    Major Resistance Levels – $38,250, $38,400 and $39,500.

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  • Bitcoin Resumes Decline, Indicators Suggest Limited Upside

    Bitcoin Resumes Decline, Indicators Suggest Limited Upside

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    Bitcoin started a fresh decline below the $50,000 support against the US Dollar. BTC remains at a risk of a larger decline below $47,500 in the near term.

    • Bitcoin started a fresh decline below the $50,000 and $49,500 support levels.
    • The price is trading below $49,000 and the 100 hourly simple moving average.
    • There was a break below a bearish continuation pattern with support near $49,200 on the hourly chart of the BTC/USD pair (data feed from Kraken).
    • The pair could correct higher, but upsides might be limited above $49,200 in the near term.

    Bitcoin Price Gains Bearish Momentum

    Bitcoin price failed to gain strength and started a fresh decline below the $50,000 support. BTC traded below the $49,200 and $49,000 levels to move into a bearish zone.

    Besides, there was a break below a bearish continuation pattern with support near $49,200 on the hourly chart of the BTC/USD pair. The pair even traded below the $48,500 support zone and traded close to the $47,200 level.

    A low is formed near $47,305 and the price is now consolidating. Bitcoin is trading below $49,000 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $48,200 level. The first major resistance is near the $48,500 level.

    The 23.6% Fib retracement level of the recent decline from the $52,111 swing high to $47,305 low is also near $48,500. The next key resistance could be $49,800.

    Bitcoin Price

    Source: BTCUSD on TradingView.com

    Besides, the 50% Fib retracement level of the recent decline from the $52,111 swing high to $47,305 low is near the $49,700 zone to act as a resistance. A clear move above the $49,800 resistance zone could start a fresh increase. The next major stop for the bulls may possibly be near the $51,200 level.

    More Losses In BTC?

    If bitcoin fails to recover above $49,200, it could continue to move down. An immediate support is near the $47,500 zone. The first major support is near $47,200.

    A downside break below the $47,200 level could push the price towards the $46,500 support. Any more losses may possibly lead the price towards the $45,500 support zone.

    Technical indicators:

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

    Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is well below the 40 level.

    Major Support Levels – $47,200, followed by $46,500.

    Major Resistance Levels – $48,200, $48,800 and $49,800.

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  • Ethereum Regains Strength, Indicators Suggest Fresh Run To $4,850

    Ethereum Regains Strength, Indicators Suggest Fresh Run To $4,850

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    Ethereum started a fresh increase from the $4,500 zone against the US Dollar. ETH could extend upsides towards $4,850 unless it fails to stay above the 100 hourly SMA.

    • Ethereum started a fresh increase above the $4,600 and $4,700 levels.
    • The price is now trading above $4,650 and the 100 hourly simple moving average.
    • There was a break above a major bearish trend line with resistance near $4,630 on the hourly chart of ETH/USD (data feed via Kraken).
    • The pair could extend gains above the $4,800 resistance zone in the near term.

    Ethereum Price Eyes More Upsides

    Ethereum formed a decent support base above the $4,500 level. As a result, ETH price started a fresh increase above the $4,600 resistance zone and the 100 hourly simple moving average.

    There was a break above a major bearish trend line with resistance near $4,630 on the hourly chart of ETH/USD. The pair climbed above the $4,700 level, but it is now facing resistance near the $4,725 level.

    Ether is now consolidating gains and trading near $4,700. It is also well above the 23.6% Fib retracement level of the upward move from the $4,520 swing low to $4,725 high. An immediate resistance on the upside is near the $4,725 level.

    Ethereum Price

    Source: ETHUSD on TradingView.com

    The next major resistance is near the $4,750 level. A break above the $4,750 level may possibly spark a fresh rally. The next key resistance is near the $4,850 level. Any more gains could lead the price towards the $5,000 level in the near term.

    Dips Supported in ETH?

    If ethereum fails to climb above the $4,725 and $4,750 resistance levels, it could extend its downside correction. An initial support on the downside is near the $4,675 level.

    The first major support is near the $4,650 level and the 100 hourly SMA. The next major support is near the $4,620 level. It is near the 50% Fib retracement level of the upward move from the $4,520 swing low to $4,725 high.  Any more downsides could lead the price towards the $4,550 support. The next major support for the bulls is near the $4,500 level.

    Technical Indicators

    Hourly MACDThe MACD for ETH/USD is slowly losing pace in the bullish zone.

    Hourly RSIThe RSI for ETH/USD is now well above the 50 level.

    Major Support Level – $4,550

    Major Resistance Level – $4,850

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