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»If Bitcoin price can sustain one important level, we could see a “upside”
EXCHANGE NEWS

If Bitcoin price can sustain one important level, we could see a “upside”

By Crypto FlexsFebruary 2, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
If Bitcoin price can sustain one important level, we could see a “upside”
Share
Facebook Twitter LinkedIn Pinterest Email

Bitcoin price is attempting a new rise from the $42,000 support. BTC could gain bullish momentum if it passes the $43,300 resistance area.

  • Bitcoin price is attempting a new rise above the $42,750 resistance zone.
  • The price is trading above $42,800 and the 100-hour simple moving average.
  • The hourly chart of the BTC/USD pair (data feed from Kraken) shows a short-term ascending channel with support near $42,950.
  • Unless the price closes below the $42,350 support, the pair may continue to rise.

Bitcoin price remains supported

Bitcoin price formed a base above the $42,000 level and began a steady rise. BTC was able to break above the $42,200 and $42,500 resistance levels.

There was movement above the 50% Fib retracement level of the downward wave from the $43,740 swing high to the $41,888 low. The bulls could push the price above the $43,000 resistance. Currently, a short-term upward channel has formed on the hourly chart of the BTC/USD pair with support near $42,950.

Bitcoin is currently trading above $42,800 and the 100-hour simple moving average. Immediate resistance is near the $43,300 level. The $43,740 swing high to $41,888 low is close to the 76.4% Fib retracement level of the bearish wave.

The next major resistance could be $43,750, above which the price could begin a significant rise. The next stop on the uptrend could possibly be $44,000.

Source: TradingView.com BTCUSD

A clear break above the $44,000 resistance may lead the price to move towards the $44,200 resistance. The next resistance is now forming near the $44,500 level. Prices could rise further above the $44,500 level. The next major resistance level is $45,000.

Another drop in BTC?

If Bitcoin fails to rise above the $43,300 resistance zone, another decline could begin. Immediate support for the downside is near the $43,000 level and the channel trendline.

The first major support is at $42,800 and the hourly 100 SMA. Major support may be $42,350. The price could gain bearish momentum if it closes below $42,350. If stated, the price may plunge towards the $41,800 support level.

Technical indicators:

Hourly MACD – MACD is now picking up speed in bullish territory.

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

Key support levels – $42,800, then $42,350.

Key resistance levels – $43,300, $43,800 and $44,500.

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

Dogecoin (DOGE) after collision

June 23, 2025

Litecoin Key Support in Focus Price Eye Brake Out Determination

June 20, 2025

Bitcoin is ahead of the FOMC meeting. What is the following?

June 17, 2025
Add A Comment

Comments are closed.

Recent Posts

Deribit And SignalPlus Launch “The Summer Chase” Trading Competition 2025 Featuring A $300,000+ USDC Prize Pool

June 26, 2025

Why I am still optimistic despite noise

June 26, 2025

SEI tokens have soared more than 100% in June -the highest catalyst explained.

June 26, 2025

Reddio Mainnet Alpha Is Live – The First GPU-Accelerated Parallel EVM For AI-Native DApps

June 26, 2025

RoboCorp.co Debuts World’s First Search Engine That Converts Human Data And Expertise Into Crypto Income

June 26, 2025

Moca Foundation Announces Moca Chain For Self-sovereign, Privacy-preserving Identity And User Verification

June 26, 2025

GSR Launches Enhanced Systematic OTC Platform, Expanding FX Capabilities And Asset Coverage

June 25, 2025

How To Turn $100 Into $1,000,000 In 2025

June 25, 2025

Neo Pepe $NEOP Presale Passes $2M Raised With Stellar CertiK Audit

June 25, 2025

Encryption Inheritance Update: June 2025

June 25, 2025

Zama Raises $57M In Series B To Bring End-to-End Encryption To Public Blockchains

June 25, 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

Deribit And SignalPlus Launch “The Summer Chase” Trading Competition 2025 Featuring A $300,000+ USDC Prize Pool

June 26, 2025

Why I am still optimistic despite noise

June 26, 2025

SEI tokens have soared more than 100% in June -the highest catalyst explained.

June 26, 2025
Most Popular

Cryptocurrencies to Watch in June 2024: BlockDAG leads the way in the evolution of Tron and Binance Coin with a new dashboard and pre-sale success.

May 31, 2024

Crypto analyst predicts XRP will move 1,500% against Bitcoin. What are the conditions?

December 19, 2023

Three password assets to be held in January 2025: Bonk, Dogecoin and Remittix

January 28, 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.