In early January 2022, Bitcoin returned above $43,000. Yahoo Finance noted the move and said a significant breakout above $43,000 could signal a favorable shift on intraday charts. Around the same time, CoinDesk said buyers had held support near $40,000, with the bounce suggesting the cryptocurrency was recovering after a near-30% decline from its all-time high near $69,000 in November.
Bitcoin Holds Support Near $43,000
According to CoinDesk, the relative strength index (RSI) on the four-hour chart approached overbought levels, similar to late-December, while the daily RSI continued to rise from oversold levels. That combination suggested buyers could remain active on dips even as the short-term trend stayed down. Given that downtrend, CoinDesk said upside appeared limited toward the $45,000-$48,000 resistance zone, and weekly and monthly momentum signals remained negative.
Why $43,000 Acted as Support
The $43,000 area was widely watched as support in early 2022. In April 2022, Yahoo Finance reported that Bitcoin was stabilizing above $43,000 after a nearly 10% decline from the $48,000 mark earlier in the week, and that a move above $45,000 was needed for further upside. Earlier that year, Yahoo Finance also noted that Bitcoin had returned above $43,000 and could face resistance near $45,000-$48,000.
The same pattern appeared before the January 2022 bounce. In September 2021, Outlook Money reported that after flipping $43,000 resistance to support, Bitcoin held an intraday low of $43,450 but was repeatedly thwarted by strong resistance at $45,000.
The $45K–$48K Resistance Zone
Sellers defended the overhead zone across multiple periods. In March 2022, Yahoo Finance reported that Bitcoin was pulling back as sellers reacted to resistance around $48,000, with potential support near $43,000. In March 2022, XTB said that if Bitcoin managed to close on the daily chart above $45,500, it could signal a breakout from the consolidation zone.
By December 2023, U.Today said $45,000 had become a significant battleground, with the price stalling and supply defended aggressively through selling orders. In February 2024, Binance Square highlighted $48,000 as a significant hurdle for Bitcoin’s price despite months of recovery.
What Changed by February 2024
In early 2024, the zone finally began to give way. CNBC reported that on February 8, 2024, bitcoin surpassed $45,000 for the first time since January 12, increasing 3.19% to $45,526.51, according to Coin Metrics, coinciding with the start of U.S. spot bitcoin ETF trading. Cryptorank observed that after climbing above $44,500 and $45,000, BTC tested $46,000 and could extend its rally toward the $48,000 resistance. In January 2024, Investing.com noted that $46,000 would be a difficult level to surmount, given the strong wall of sell orders at that price point.
For traders watching the range, the reports above show Bitcoin repeatedly testing these levels from 2021 through early 2024. The $43,000 support and the $45,000-$48,000 resistance zone defined the market during that period.