{"id":138817,"date":"2021-09-15T03:41:06","date_gmt":"2021-09-15T03:41:06","guid":{"rendered":"https:\/\/precoinnews.com\/?p=138817"},"modified":"2021-09-15T03:41:06","modified_gmt":"2021-09-15T03:41:06","slug":"ta-bitcoin-indicators-suggest-strengthening-case-for-break-above-48k","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/ta-bitcoin-indicators-suggest-strengthening-case-for-break-above-48k\/","title":{"rendered":"TA: Bitcoin Indicators Suggest Strengthening Case For Break Above $48K"},"content":{"rendered":"<p><em>Bitcoin price started a decent increase above the $46,000 resistance against the US Dollar. BTC is now back above $47,000, but it is facing hurdles near $47,600.<\/em><\/p>\n<ul>\n<li>Bitcoin started a steady increase above the $45,600 and $46,200 resistance levels.<\/li>\n<li>The price is now trading above $46,500 and the 100 hourly simple moving average.<\/li>\n<li>There was a break above a key bearish trend line with resistance near $46,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair must clear the $47,500 resistance zone to continue higher in the near term.<\/li>\n<\/ul>\n<h2>Bitcoin Price Starts Fresh Increase<\/h2>\n<p>Bitcoin price remained well bid above the $45,000 level. As a result, BTC started a fresh increase above the $46,000 resistance zone and the 100 hourly simple moving average.<\/p>\n<p>The price broke the $46,200 and $46,500 resistance levels. There was also a break above a key bearish trend line with resistance near $46,000 on the hourly chart of the BTC\/USD pair. The pair was able to climb above the $47,000 resistance zone.<\/p>\n<p>It is now facing resistance near the $47,500 zone. A high is formed near $47,464 and bitcoin price is now consolidating gains. It is currently well above the 23.6% Fib retracement level of the upward move from the $43,374 swing low to $47,464 high.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2021\/09\/Bitcoin-10.png\"><\/p>\n<p>Source: BTCUSD on TradingView.com<\/p>\n<p>An immediate resistance on the upside is near the $47,400 level. The main resistance is now near the $47,500 zone. To continue higher, bitcoin must clear the $47,500 resistance. The next major resistance is near the $48,000 level, above which the price could rise towards the key $50,000 resistance in the near term.<\/p>\n<h2>Dips Supported In BTC?<\/h2>\n<p>If bitcoin fails to clear the $47,500 resistance zone, it could start a downside correction. An immediate support on the downside is near the $46,500 level. The first major support is near the $46,000 level.<\/p>\n<p>The next key support seems to be forming near the $45,400 level and the 100 hourly simple moving average. It is close to the 50% Fib retracement level of the upward move from the $43,374 swing low to $47,464 high.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is slowly losing pace in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now well above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $46,500, followed by $45,400.<\/p>\n<p>Major Resistance Levels \u2013 $47,500, $48,000 and $49,200.<\/p>\n<p>Source: <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-case-break-above-48k\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price started a decent increase above<\/p>\n","protected":false},"author":3,"featured_media":138816,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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