PLUS1
| Name | Symbol | Market | Market Cap ($) | Algorithm |
|---|---|---|---|---|
| Bitcoin | BTCUSD | Crypto | 405,189,433,250 | SHA-256d |
| Price Change | Price Change % | Current Price | Bid Price | Offer | |
|---|---|---|---|---|---|
| 88.55 | 0.42% | 21,287.72 | 21,286.94 | 21,287.23 |
| High Price | Low Price | Open Price | Prev. Close | 52 Week Range |
|---|---|---|---|---|
| 21,363.42 | 21,112.57 | 21,233.25 | 21,198.10 | 17,579.24 - 69,000.00 |
| Exchange | Last Trade | Size | Trade Price | Currency |
|---|---|---|---|---|
| GDAX | 05:50:15 | 0.002244 | 21,287.73 | USD |
TA: Bitcoin Price Consolidates, Why Break above $43.5K Is The Key
17/01/2022 3:18am
NEWSBTC
Bitcoin started a downside correction from $44,500 against the US Dollar. BTC is stable above $42,800 and the bulls might aim a fresh increase above $43,500. Bitcoin is trading in a positive zone above $42,500 and $42,800. The price is trading below $43,500 and the 100 hourly simple moving average. There is a key contracting triangle forming with resistance near $43,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a major increase if there is a clear move above the $43,500 resistance. Bitcoin Price Is Holding Support Bitcoin price extended increase above the $44,000 resistance zone. BTC even spiked above the $44,200 level before it faced sellers. A high was formed near $44,400 and the price started a fresh decline. There was a clear move below the $43,500 and $43,200 levels. The price even dived below the $42,500 support and a close below the 100 hourly simple moving average. A low was formed near $41,800 before the price started an upside correction. It traded as high as $43,791 and is currently consolidating. Bitcoin price is trading below $43,500 and the 100 hourly simple moving average. An immediate support is near the 50% Fib retracement level of the recent increase from the $41,800 swing low to $43,791 high. Besides, there is a key contracting triangle forming with resistance near $43,200 on the hourly chart of the BTC/USD pair. Source: BTCUSD on TradingView.com On the upside, an initial resistance is near the $43,200 level. The next major resistance is near the $43,500 level. A clear move above the $43,500 level might send the price towards the $44,000 resistance. Any more gains may perhaps call for a test of the $44,200 resistance zone. The next major resistance is near the $45,000 level. Fresh Decline in BTC? If bitcoin fails to start a fresh increase above $43,500, it could start a fresh decline. An immediate support on the downside is near the $42,800 zone. The first major support is seen near the $42,500 zone. It is near the 61.8% Fib retracement level of the recent increase from the $41,800 swing low to $43,791 high. A downside break below the $42,500 support zone could lead the price towards the $41,800 level. 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 near the 50 level. Major Support Levels – $42,800, followed by $42,500. Major Resistance Levels – $43,200, $43,500 and $44,200.
1 Year Bitcoin Chart |
1 Month Bitcoin Chart |
