Bitcoin’s price has experienced a 5% rally, reaching above $42,000 and currently trading above the 100 hourly Simple Moving Average. However, the bears are still putting up a fight at the $43,500 resistance level. Bitcoin needs to overcome this resistance to continue its upward momentum. If it fails to do so, there is a risk of a fresh decline, with support levels at $42,750 and $42,000. The next key resistance levels are $43,200, $43,500, and $45,000. Traders are advised to conduct their own research and exercise caution when investing in cryptocurrencies.
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Bitcoin Price Rallies 5% But Key Breakout Resistance Is Still Intact
