Bitcoin (BTC) PRICE NOW: $47,812.6900000024h change: -0.10% Ethereum (ETH) PRICE NOW: $3,438.5400000024h change: -3.47% HEX (HEX) PRICE NOW: $0.4509328124h change: 13.50% Cardano (ADA) PRICE NOW: $2.3620000024h change: -1.92% Binance Coin (BNB) PRICE NOW: $411.6000000024h change: -2.05% XRP (XRP) PRICE NOW: $1.0766000024h change: -1.25% Solana (SOL) PRICE NOW: $144.7400000024h change: -1.78% Polkadot (DOT) PRICE NOW: $33.9700000024h change: -6.95% Dogecoin (DOGE) PRICE NOW: $0.2420000024h change: -0.38% USD Coin (USDC) PRICE NOW: $1.0001000024h change: 0.04% Avalanche (AVAX) PRICE NOW: $71.5300000024h change: 9.20% Uniswap (UNI) PRICE NOW: $24.6100000024h change: -3.87% Terra (LUNA) PRICE NOW: $34.9792457624h change: -5.92% Chainlink (LINK) PRICE NOW: $28.1600000024h change: -5.18% Binance USD (BUSD) PRICE NOW: $0.9999000024h change: 0.03%
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Bitcoin price started a decent increase above the $46,000 resistance against the US Dollar. BTC is now back above $47,000, but it is facing hurdles near $47,600. Bitcoin started a steady increase above the $45,600 and $46,200 resistance levels. The price is now trading above $46,500 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $46,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must clear the $47,500 resistance zone to continue higher in the near term. Bitcoin Price Starts Fresh Increase Bitcoin price remained well bid above the $45,000 level. As a result, BTC started a fresh increase above the $46,000 resistance zone and the 100 hourly simple moving average. The price broke the $46,200 and $46,500 resistance levels. There was also a break above a key bearish trend line with resistance near $46,000 on the hourly chart of the BTC/USD pair. The pair was able to climb above the $47,000 resistance zone. It is now facing resistance near the $47,500 zone. A high is formed near $47,464 and bitcoin price is now consolidating gains. It is currently well above the 23.6% Fib retracement level of the upward move from the $43,374 swing low to $47,464 high. Source: BTCUSD on TradingView.com An immediate resistance on the upside is near the $47,400 level. The main resistance is now near the $47,500 zone. To continue higher, bitcoin must clear the $47,500 resistance. The next major resistance is near the $48,000 level, above which the price could rise towards the key $50,000 resistance in the near term. Dips Supported In BTC? If bitcoin fails to clear the $47,500 resistance zone, it could start a downside correction. An immediate support on the downside is near the $46,500 level. The first major support is near the $46,000 level. The next key support seems to be forming near the $45,400 level and the 100 hourly simple moving average. It is close to the 50% Fib retracement level of the upward move from the $43,374 swing low to $47,464 high. Technical indicators: Hourly MACD – The MACD is slowly losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now well above the 50 level. Major Support Levels – $46,500, followed by $45,400. Major Resistance Levels – $47,500, $48,000 and $49,200.

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