BITCOIN PRICE RECLAIMS 100 SMA BUT CAN BULLS CLEAR THIS HURDLE

Bitcoin price formed a base above the $41,800 level and started a steady increase. BTC was able to clear the $42,200 and $42,500 resistance levels.

It also reclaimed the 100 hourly Simple moving average. The price climbed above the 50% Fib retracement level of the downward move from the $43,488 swing high to the $42,320 low. The bulls even pushed the price above the $43,000 level.

However, the bears seem to be active near the $43,200 level. It is near the 76.4% Fib retracement level of the downward move from the $43,488 swing high to the $42,320 low.

Bitcoin is now trading above $42,650 and the 100 hourly Simple moving average. Immediate resistance is near the $43,200 level. The next key resistance could be $43,500, above which the price could start a decent increase. The next stop for the bulls may perhaps be $44,200.

A clear move above the $44,200 resistance could send the price toward the $45,000 resistance. The next resistance is now forming near the $45,500 level. A close above the $45,500 level could push the price further higher. The next major resistance sits at $46,500.

If Bitcoin fails to rise above the $43,500 resistance zone, it could start another decline. Immediate support on the downside is near the $42,900 level and the 100 hourly SMA.

The first major support is $42,450 and the channel trend line. If there is a close below $42,450, the price could gain bearish momentum. In the stated case, the price could dive toward the $41,800 support.#BTC #BTCBefore2025 #BTCBearish #btctothenull #BTCHeatmap