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

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

June 4, 2025

Do you want to unlock the slow brake out for a big discount PI network, the next token?

June 3, 2025

ROBINHOOD concludes the argument of BitStamp to $ 2B

June 3, 2025
Add A Comment

Comments are closed.

Recent Posts

Lightchain AI rises to leading picks, and Litecoin is interested in legacy as interest is reduced.

June 5, 2025

Stablecoin issuer raises the IPO to more than $ 1 billion

June 5, 2025

Audio control improvement: Elevenlabs SP1 Soundboard Connection to MIDI controller

June 5, 2025

Cardi B’s WAP is moisturized again, and the top on chain detective

June 5, 2025

Nvidia

June 4, 2025

Bitcoin robbery is a trader after market rotation; ETH, DOGE LEAD majors

June 4, 2025

IP cooperation with the original ZEUS artist and trademark holders

June 4, 2025

DOW JONES wins Streak with weak growth and cost increases.

June 4, 2025

NVIDIA Blackwell achieves an improvement of 2.6x performance in MLPERF training v5.0.

June 4, 2025

NVIDIA MLPERF V5.0: Reproduces the educational score for LLM benchmarks

June 4, 2025

Price prediction of BTC, ETH, XRP, BNB, SOL, DOGE, ADA, Sui, Hype, Link

June 4, 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

Lightchain AI rises to leading picks, and Litecoin is interested in legacy as interest is reduced.

June 5, 2025

Stablecoin issuer raises the IPO to more than $ 1 billion

June 5, 2025

Audio control improvement: Elevenlabs SP1 Soundboard Connection to MIDI controller

June 5, 2025
Most Popular

Does the HBAR price be prepared for $ 1? Hedera builds an institutional chain

April 1, 2025

Slotthana Tokens Up for DEX Listing Next Week – Will the Next Solana Meme Coin Explode?

April 24, 2024

NVIDIA Introduces Self-Directed AI and Data Science Career Development Course

July 19, 2024
  • 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.