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Bitcoin price traded to a new weekly low at $44,012 before recovering losses against the US Dollar. BTC is back above $47,000 and it may attempt to clear the $48,000 resistance.
Bitcoin started a decent increase above the $45,500 and $46,000 resistance levels.
The price is now trading above $46,000 and the 100 hourly simple moving average.
There was a break above a key bearish trend line with resistance near $45,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could accelerate further higher if it clears the $48,000 resistance zone in the near term.
Bitcoin Price Eyes More Upsides
Bitcoin price extended its decline below the $44,200 support zone. However, BTC bulls were active above the $44,000 level. A low was formed near $44,012 before the price started a fresh increase.
There was a steady rise above the $45,000 and $45,500 resistance levels. The price cleared the 50% Fib retracement level of the main drop from the $48,100 swing high to $44,012 low. There was also a break above a key bearish trend line with resistance near $45,500 on the hourly chart of the BTC/USD pair
Source:newsbtc.com
| Coin | Change(%) | Price | Volume (24h) |
|---|---|---|---|
| Bitcoin (BTC) | 3.71 | $72,084.86 | $45.5B |
| Ethereum (ETH) | 3.43 | $4,038.91 | $20.8B |
| XRP (XRP) | 18.52 | $0.727106 | $4.4B |
| Solana (SOL) | 1.58 | $147.242060 | $3.8B |
| Binance Coin (BNB) | -2.22 | $519.52 | $3.0B |
| USD Coin (USDC) | 0.03 | $0.999697 | $2.4B |
| Dogecoin (DOGE) | 0.96 | $0.174374 | $2.1B |
| Shiba Inu (SHIB) | -2.92 | $0.000033 | $1.7B |
| Floki Inu (FLOKI) | -7.67 | $0.000267 | $1.3B |
| Avalanche (AVAX) | 13.16 | $47.596296 | $1.2B |
