Bitcoin Price Rallies 5% and $48K Now Seems Imminent

Jan 9, 2024 04:00 am Cryptocurrency 118

Bitcoin price was able to clear the $44,500 and $44,700 resistance levels. BTC is up over 5% and might soon attempt a move toward $48,000.

Bitcoin is gaining pace above the $45,500 resistance zone.

The price is trading above $45,000 and the 100 hourly Simple moving average.

There was a break above a key contracting triangle with resistance near $44,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).

The pair could continue to move up toward the $48,000 level unless there is a close below $44,000.

Bitcoin Price Starts Fresh Increase

Bitcoin price started a fresh increase above the $43,500 resistance zone. BTC gained bullish momentum above the $44,000 and $44,500 levels to move into a positive zone.

There was a break above a key contracting triangle with resistance near $44,000 on the hourly chart of the BTC/USD pair. The bulls pumped the price to a new multi-day high at $47,306 and the price is ..

Support the originator by clicking the read the rest link below.