Bitcoin price starts to range in 2024. Can the bulls take over?

La prime du coinbase bitcoin augmente, la reprise est menée par les investisseurs américains ?

Bitcoin price maintains its gains above the $41,500 zone and continues to climb, raising hopes of bullish momentum. The price is above $42,200 and the 100 hourly simple moving average, suggesting positive developments. On the hourly chart of BTC/USD (Kraken data feed), a significant bullish trendline is forming with support near $42,280. As bitcoin price attempts a further rise above the $42,500 resistance zone, potential bullish momentum could be imminent.

After a recent decline, bitcoin formed a base above the $41,200 mark and began a further rise. A low was formed at $41,317 and the price is now rising. There was a move above the $42,000 resistance zone. The price broke above the 50% Fib retracement level of the downside move from the swing high at $43,792 to the swing low at $41,317. This indicates a possible trend reversal.

Immediate resistance lies near $42,800, and a close above the $43,200 resistance zone could send bitcoin price higher. The main barrier is at 43,800 US dollars. A close above the $43,800 resistance level could trigger a good move towards the $44,500 level.

However, if bitcoin fails to break above the $43,200 resistance zone, further decline could occur. Immediate downside support lies near the $42,250 mark and the trendline. The next major support is at $41,620. In the event of a decline below US$41,620, there is a risk of further losses.

Technical indicators show that the MACD is gaining speed in the bullish zone and the RSI for BTC/USD is above the 50 mark. The main support levels lie at $42,250, followed by 41,620 dollars, while the main resistance levels lie at $42,800, $43,200 and $43,800.

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