Bitcoin (BTCUSD) is Hesitating to Test $45,000
Login

Bitcoin (BTCUSD) is Hesitating to Test $45,000

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more


BTCUSD is Hesitating to Make the Lunge Towards the $45,000 Price

Bitcoin (BTCUSD) is hesitating in approaching the $45,000 price level. Despite a robust bullish trend initiated in October, the cryptocurrency has encountered resistance at the $45,000 level, facing swift rejection and subsequently retracting to the $40,200 support level.

Bitcoin Key Levels

Supply Levels: $45,000, $47,000
Demand Levels: $42,000, $40,200
Bitcoin (BTCUSD) is Hesitating to Test $45,000This scenario echoes a previous occurrence in November when the price approached $38,000, requiring persistent testing before achieving a breakthrough on December 1st. Bitcoin now faces the task of sustaining upward momentum to breach the $45,000 resistance.

On the daily chart, the price has consistently traded above the 20-day Moving Average (MA), demonstrating bullish strength following a rebound from the $40,200 support level. The Moving Average Convergence Divergence (MACD) reinforces this sentiment, with its line positioned high and oscillating above the zero level, albeit with alternating histogram bars.
TradingView Chart

Market Expectations

Examining the 4-hour timeframe reveals a potential double bottom formation in the price, although its execution is hindered by the market’s hesitation to reach $45,000. Nonetheless, the 20-day MA acts as a supportive factor for the candlesticks, and the MACD has ascended back above the zero level, aligning with the potential for an upward thrust.

You can purchase Lucky Block here.  Buy LBLOCK

Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset, presented product, or event. We are not responsible for your investment results.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News