Bitcoin Price Remains Strong and Eyes Fresh Surge Above $44K

Dec 8, 2023 02:00 pm Cryptocurrency 120

Bitcoin price corrected lower and tested the $42,800 support zone. BTC is now showing positive signs and might attempt a fresh surge above $44,000.

Bitcoin is holding gains above the $42,500 pivot level.

The price is trading above $42,800 and the 100 hourly Simple moving average.

There is a key bullish trend line forming with support near $42,900 on the hourly chart of the BTC/USD pair (data feed from Kraken).

The pair is likely setting up for a fresh increase above the $44,000 level.

Bitcoin Price Eyes Fresh Increase

Bitcoin price started a downside correction below the $44,000 level. BTC declined below the $43,500 level, but the bulls remained active. The price found bids near the 50% Fib retracement level of the upward move from the $41,427 swing low to the $44,465 high.

Bitcoin is still trading above $42,800 and the 100 hourly Simple ..

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