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Bitcoin Price Advances Again: Can Bulls Push It Even Higher?

November 10, 2024
in Analysis
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Bitcoin worth is gaining tempo above $75,000. BTC is rising and may intention for a transfer above the $77,000 resistance zone within the close to time period.

Bitcoin began a recent surge above the $74,500 zone.
The value is buying and selling above $74,000 and the 100 hourly Easy transferring common.
There’s a connecting bullish development line forming with assist at $75,450 on the hourly chart of the BTC/USD pair (information feed from Kraken).
The pair might proceed to rise above the $76,200 resistance zone.

Bitcoin Worth Units One other ATH

Bitcoin worth began a recent enhance above the $74,500 stage. BTC cleared the $75,000 resistance and traded to a brand new all-time excessive. It posted a excessive at $76,937 and is presently consolidating good points.

There was a minor decline under the $76,200 stage. The value dipped under the 23.6% Fib retracement stage of the upward transfer from the $72,745 swing low to the $76,937 excessive. Nevertheless, the value remains to be in a optimistic zone above the $75,000 stage.

Bitcoin worth is now buying and selling above $75,200 and the 100 hourly Easy transferring common. There’s additionally a connecting bullish development line forming with assist at $75,450 on the hourly chart of the BTC/USD pair.

On the upside, the value might face resistance close to the $76,000 stage. The primary key resistance is close to the $76,200 stage. A transparent transfer above the $76,200 resistance may ship the value greater. The subsequent key resistance may very well be $78,000.

A detailed above the $78,000 resistance may provoke extra good points. Within the said case, the value might rise and check the $78,800 resistance stage. Any extra good points may ship the value towards the $79,450 resistance stage.

Are Dips Restricted In BTC?

If Bitcoin fails to rise above the $76,200 resistance zone, it might proceed to maneuver down. Speedy assist on the draw back is close to the $75,450 stage and the development line.

The primary main assist is close to the $74,350 stage or the 61.8% Fib retracement stage of the upward transfer from the $72,745 swing low to the $76,937 excessive. The subsequent assist is now close to the $73,750 zone. Any extra losses may ship the value towards the $72,200 assist within the close to time period.

Technical indicators:

Hourly MACD – The MACD is now dropping tempo within the bullish zone.

Hourly RSI (Relative Energy Index) – The RSI for BTC/USD is now above the 50 stage.

Main Assist Ranges – $75,450, adopted by $74,350.

Main Resistance Ranges – $76,000, and $76,200.



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Tags: advancesBitcoinBullsHigherPricepush
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