Bitcoin Price Starts Fresh Recovery, Is It A Bull?

 2021-09-23 09:29:17

Bitcoin is slowly gaining momentum above $43,000, and now the $43,000 line has become a support zone. If Bitcoin keeps moving well above 100 hourly simple moving average, it could break the recent resistance line at $45,000 and shows an upside. But due to the monthly performance, the speed could be slow. However, it is better than yesterday, which is worth expecting.

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If Bitcoin fails to break the $45,000 today, then it could keep this downturn for few days. Since it gains some power above $40,000, it seems that it won't be easy for it to dip below $40,000 again unless there is some negative issue occur.

 

Technical indicators:

Hourly MACD – The MACD is slowly gaining pace in the bullish zone.

Hourly RSI – The RSI is now hovering around the 60-level.

Major Support Levels – $43,000, followed by $42,000.

Major Resistance Levels – $44,500, $44,700 and $45,000.

 

DISCLAIMER: The analysis of cryptocurrencies in real-time should be taken for informational purposes only, and in no case should it be taken as an investment signal. Every investment and trading move involves risk. You should conduct your own research when making a decision.     

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