Bitcoin Price Hits $80K Mark: The Crypto Bull Run Continues
11 Novembro 2024 - 12:16AM
NEWSBTC
Bitcoin price is up over 5% and trading above $80,000. BTC is
rising and might aim for a move above the $82,000 resistance zone
in the near term. Bitcoin started a fresh surge above the $78,500
zone. The price is trading above $80,000 and the 100 hourly Simple
moving average. There is a connecting bullish trend line forming
with support at $80,250 on the hourly chart of the BTC/USD pair
(data feed from Kraken). The pair could continue to rise above the
$81,500 resistance zone. Bitcoin Price Sets Another ATH Bitcoin
price started a fresh increase above the $76,500 level. BTC cleared
the $78,000 resistance and traded to a new all-time high. It posted
a high at $81,700 and is currently consolidating gains. There was a
minor decline below the $81,500 level. However, the price is still
well above the 23.6% Fib retracement level of the upward move from
the $75,785 swing low to the $81,700 high. There is also a
connecting bullish trend line forming with support at $80,250 on
the hourly chart of the BTC/USD pair. Bitcoin price is now trading
above $80,000 and the 100 hourly Simple moving average. On the
upside, the price could face resistance near the $81,700 level. The
first key resistance is near the $82,000 level. A clear move above
the $82,000 resistance might send the price higher. The next key
resistance could be $82,500. A close above the $82,500 resistance
might initiate more gains. In the stated case, the price could rise
and test the $83,800 resistance level. Any more gains might send
the price toward the $85,000 resistance level. Are Dips Supported
In BTC? If Bitcoin fails to rise above the $81,700 resistance zone,
it could start a downside correction. Immediate support on the
downside is near the $80,250 level and the trend line. The first
major support is near the $78,750 level or the 50% Fib retracement
level of the upward move from the $75,785 swing low to the $81,700
high. The next support is now near the $77,500 zone. Any more
losses might send the price toward the $76,500 support in the near
term. Technical indicators: Hourly MACD – The MACD is now gaining
pace in the bullish zone. Hourly RSI (Relative Strength Index) –
The RSI for BTC/USD is now above the 50 level. Major Support Levels
– $80,250, followed by $78,750. Major Resistance Levels – $81,700,
and $82,500.
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