The current price of Bitcoin remains steady above the $45,000 mark, indicating a potential for further gains past the $46,000 level in the near future.
Bitcoin has continued to climb, nearing the $46,000 level and maintaining its position above $45,000 and the 100 hourly Simple moving average. A key bullish flag is forming with resistance around $45,300 on the hourly chart of the BTC/USD pair (data feed from Kraken). Unless a correction wave occurs below $44,800, the pair may initiate a fresh increase.
Bitcoin’s price surge has led to a new multi-week high near $45,900, then consolidating those gains. Despite a minor downside correction, the price remains above the $45,000 mark and the 100 hourly Simple moving average.
Looking ahead, if the price continues its upward momentum, the first major resistance level awaits at $46,000, with potential for further gains toward $46,800 and even $48,000. However, failing to break the $45,300 resistance zone could trigger a possible downside correction, with support levels at $44,800 and $44,000.
Technical analysis shows the MACD losing pace in the bullish zone and the RSI for BTC/USD above the 50 level, indicating a potential for continued upward movement.
It’s important to note that this information is for educational purposes only and does not represent the opinions of NewsBTC on investment decisions. Conducting thorough research and understanding the risks involved in crypto investments is advised.
