Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»EXCHANGE NEWS»Bitcoin price is showing signs of recovery, but can BTC bulls gain strength again?
EXCHANGE NEWS

Bitcoin price is showing signs of recovery, but can BTC bulls gain strength again?

By Crypto FlexsJanuary 26, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Bitcoin price is showing signs of recovery, but can BTC bulls gain strength again?
Share
Facebook Twitter LinkedIn Pinterest Email

Bitcoin price is targeting an upward breakout above the $40,500 resistance level. BTC bulls may face strong resistance near $40,850 and $41,350.

  • Bitcoin price is attempting to recover from the $38,500 support zone.
  • The price is trading just above $40,000 and the 100-hour simple moving average.
  • On the hourly chart of the BTC/USD pair (data feed from Kraken), there is a significant bearish trendline forming with resistance near $40,250.
  • The pair may struggle to break above the $40,400 and $40,500 resistance levels.

Bitcoin price rise reverses

Bitcoin price remained above the $38,500 support zone. BTC has formed a base and recently began a consolidation phase above the $39,000 level.

The price was able to recover above the 23.6% Fib retracement level of the downward move from the $42,261 swing high to the $38,518 low. The bulls appear to be active above the $39,200 and $39,350 levels. Bitcoin is currently trading just above $40,000 and the 100-hour simple moving average.

However, there are many hurdles near $40,400. Immediate resistance is near the $40,250 level. On the hourly chart of the BTC/USD pair, there is also a significant bearish trend line forming with resistance near $40,250.

The next major resistance could be the 50% Fib retracement level at $40,380 or a downward move from the $42,261 swing high to the $38,518 low, above which the price could rise to test $40,850. A clear break above the $40,850 resistance may lead the price towards the $41,250 resistance.

Source: TradingView.com BTCUSD

The next resistance is currently forming near $42,000. The price could go higher beyond the $42,000 level. The next major resistance level is $42,500.

Another failure for BTC?

If Bitcoin fails to rise above the $40,380 resistance zone, another decline could begin. Immediate support for the downside is near the $39,420 level.

The next major support is at $38,500. The price could gain bearish momentum if it closes below $38,500. If indicated, the price may plunge towards the support level of $37,000 in the near future.

Technical indicators:

Hourly MACD – MACD is currently losing pace in bearish territory.

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

Key support levels – $39,420, then $38,500.

Key resistance levels – $40,250, $40,400 and $40,850.

Disclaimer: This article is provided for educational purposes only. This does not represent NewsBTC’s opinion on whether to buy, sell or hold any investment, and of course investing carries risks. We recommend that you do your own research before making any investment decisions. Your use of the information provided on this website is entirely at your own risk.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Bitcoin prices slide again, causing new fear of deeper modifications.

June 5, 2025

The price is farther, and the investor of EDGE

June 5, 2025

Vechain is a crawling for the Renaissance upgrade among the veterinarian price pressure.

June 4, 2025
Add A Comment

Comments are closed.

Recent Posts

Why DEGO Price tank 60%after moving USD1 Stablecoin

June 6, 2025

SEI Network opens up the way of autonomous AI economy.

June 6, 2025

SEI hit 621K wallet and $ 930m tvL, but two regions should pay attention.

June 6, 2025

Bitcoin Is An Unreplicable Lifeline In Authoritarian Regimes

June 6, 2025

COREWEAVE is a NVIDIA GB200 Super Chip that achieves recorded MLPERF benchmarks.

June 6, 2025

Bitcoin dives for less than $ 102K in fading momentum and macroscopic uncertainty.

June 6, 2025

Arca EXEC writes a scratch on Circle after IPO

June 6, 2025

The robot of 1x Technologies aims to revolutionize ordinary work with AI.

June 5, 2025

Trump is a magical Eden encryption wallet tie, Trump coin deep 13%

June 5, 2025

Bitcoin prices slide again, causing new fear of deeper modifications.

June 5, 2025

The Ether Leeum Foundation summarizes a comprehensive financial policy.

June 5, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Why DEGO Price tank 60%after moving USD1 Stablecoin

June 6, 2025

SEI Network opens up the way of autonomous AI economy.

June 6, 2025

SEI hit 621K wallet and $ 930m tvL, but two regions should pay attention.

June 6, 2025
Most Popular

Travala’s new Bitcoin incentive aims to increase cryptocurrency adoption and real-world usability.

January 7, 2025

Casper’s History – Chapter 2

March 28, 2024

Hong Kong Monetary Authority in February 2025 for bidding for two -year exchange fund notes

February 15, 2025
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.