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    Bitcoin Price Aims Higher, Why BTC Could Surge Past $25K


    Bitcoin is gaining bullish momentum above $24,500 in opposition to the US Dollar. BTC may acquire bullish momentum if it clears the $25,000 resistance zone.

    • Bitcoin began a contemporary improve above the $24,200 resistance zone.
    • The value is now buying and selling above the $24,000 degree and the 100 hourly easy shifting common.
    • There is a key bullish pattern line forming with help close to $24,400 on the hourly chart of the BTC/USD pair (information feed from Kraken).
    • The pair may acquire bullish momentum if there’s a clear transfer above the $25,000 resistance.

    Bitcoin Price Gains Momentum

    Bitcoin value tried a contemporary improve above the $24,500 resistance zone. BTC gained tempo for a transfer above the $24,800 degree, with a detailed above the 100 hourly easy shifting common.

    The value even spiked above the $25,000 degree. A excessive was fashioned close to $25,045 earlier than there was a draw back correction. There was a transfer under the $24,500 help degree. The value declined under the 50% Fib retracement degree of the upward transfer from the $23,600 swing low to $25,045 excessive.

    However, the bulls have been energetic close to a key help at $24,200. The 61.8% Fib retracement degree of the upward transfer from the $23,600 swing low to $25,045 excessive acted as a help.

    There can be a key bullish pattern line forming with help close to $24,400 on the hourly chart of the BTC/USD pair. Bitcoin value is now buying and selling above the $24,000 degree and the 100 hourly simple moving average.

    Bitcoin Price

    Source: BTCUSD on TradingView.com

    On the upside, a right away resistance is close to the $24,800 degree. The subsequent key resistance is close to the $25,000 zone. An in depth above the $25,000 resistance zone may begin one other improve. In the acknowledged case, the value could maybe check the $25,800 resistance. Any extra positive factors would possibly ship the value in direction of the $26,200 degree.

    Dips Supported in BTC?

    If bitcoin fails to clear the $25,000 resistance zone, it may begin a draw back correction. An fast help on the draw back is close to the $24,600 degree.

    The subsequent main help now sits close to the $24,500 degree, the pattern line, and the 100 hourly SMA. If the bears push the value under the $24,500 help degree, there may be a transfer in direction of the $24,200 degree. Any extra losses would possibly ship the value in direction of $23,500 degree.

    Technical indicators:

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

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

    Major Support Levels – $24,500, adopted by $24,200.

    Major Resistance Levels – $25,000, $25,800 and $26,200.



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