Bitcoin price is showing bullish signs and attempting to rally further above the $43,800 resistance level. This cryptocurrency has consolidated gains above the $42,500 resistance zone and is trading above the 100 hourly Simple Moving Average.
A significant bullish trend line is emerging, providing support around $42,650 on the hourly chart of the BTC/USD pair, sourced from Kraken. There is a key bullish trend line forming with support near $42,650. If the price clears the $43,250 and $43,800 resistance levels, it could continue to rise.
On the other hand, if Bitcoin fails to rise above the $43,800 resistance, it may experience a bearish wave with immediate support at $42,800 and major support at $42,400. The technical indicators, such as MACD and RSI, suggest a potential loss of bullish momentum.
Source: NEWSBTC
