{"id":15790,"date":"2023-01-11T03:54:31","date_gmt":"2023-01-11T07:54:31","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=15790"},"modified":"2023-01-11T03:54:31","modified_gmt":"2023-01-11T07:54:31","slug":"bitcoin-price-resumes-increase-as-crypto-bulls-aim-more-upsides","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/01\/11\/bitcoin-price-resumes-increase-as-crypto-bulls-aim-more-upsides\/","title":{"rendered":"Bitcoin Price Resumes Increase as Crypto Bulls Aim More Upsides"},"content":{"rendered":"

Bitcoin price extended its increase and traded towards $17,500. BTC is consolidating gains and might aim a move towards the $18,000 resistance.<\/em><\/p>\n

Bitcoin extended its rise above the $17,200 and $17,250 resistance levels.
\nThe price is trading above $17,200 and the 100 hourly simple moving average.
\nThere is a major bullish trend line forming with support near $17,350 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could continue to move up towards the $18,000 resistance zone.<\/p>\n

Bitcoin Price Gains Momentum<\/h2>\n

Bitcoin price settled above the key $17,000 pivot zone<\/a>, opening the doors for more gains. BTC climbed further higher and was able to clear the $17,250 resistance zone.<\/p>\n

The price even broke the $17,400 resistance zone and tested the next barrier at $17,500. A high is formed near the $17,500 level the price is now consolidating gains. It is now testing the 23.6% Fib retracement level of the upward move<\/a> from the $17,136 swing low to $17,500 high.<\/p>\n

Bitcoin price is also trading above $17,200 and the 100 hourly simple moving average. Besides, there is a major bullish trend line forming with support near $17,350 on the hourly chart of the BTC\/USD pair.<\/p>\n

<\/a><\/p>\n

Source: BTCUSD on TradingView.com<\/a><\/p>\n

On the upside, an immediate resistance is near the $17,500 level. The next major resistance is near the $18,000 zone, above which the price might accelerate higher. In the stated case, the price may perhaps rise towards the $18,500 level. Any more gains might send btc price towards the $19,200 level.<\/p>\n

Dips Limited in BTC?<\/h2>\n

If bitcoin price fails to clear the $17,500 resistance, it could start a downside correction. An immediate support on the downside is near the $17,350 level and the trend line.<\/p>\n

The next major support is near the $17,270 level. It is near the 61.8% Fib retracement level of the upward move from the $17,136 swing low to $17,500 high. The main support is now forming near the $17,130 level, below which the price might retest $16,800.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now losing pace in the bullish zone.<\/p>\n

Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n

Major Support Levels \u2013 $17,350, followed by $17,130.<\/p>\n

Major Resistance Levels \u2013 $17,500, $17,800 and $18,000.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price extended its increase and traded towards $17,500. BTC is consolidating gains and might aim a move towards the $18,000 resistance.<\/em><\/p>\n

Bitcoin extended its rise above the $17,200 and $17,250 resistance levels.
\nThe price is trading above $17,200 and the 100 hourly simple moving average.
\nThere is a major bullish trend line forming with support near $17,350 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could continue to move up towards the $18,000 resistance zone.<\/p>\n

Bitcoin Price Gains Momentum<\/h2>\n

Bitcoin price settled above the key $17,000 pivot zone<\/a>, opening the doors for more gains. BTC climbed further higher and was able to clear the $17,250 resistance zone.<\/p>\n

The price even broke the $17,400 resistance zone and tested the next barrier at $17,500. A high is formed near the $17,500 level the price is now consolidating gains. It is now testing the 23.6% Fib retracement level of the upward move<\/a> from the $17,136 swing low to $17,500 high.<\/p>\n

Bitcoin price is also trading above $17,200 and the 100 hourly simple moving average. Besides, there is a major bullish trend line forming with support near $17,350 on the hourly chart of the BTC\/USD pair.<\/p>\n

<\/a><\/p>\n

Source: BTCUSD on TradingView.com<\/a><\/p>\n

On the upside, an immediate resistance is near the $17,500 level. The next major resistance is near the $18,000 zone, above which the price might accelerate higher. In the stated case, the price may perhaps rise towards the $18,500 level. Any more gains might send btc price towards the $19,200 level.<\/p>\n

Dips Limited in BTC?<\/h2>\n

If bitcoin price fails to clear the $17,500 resistance, it could start a downside correction. An immediate support on the downside is near the $17,350 level and the trend line.<\/p>\n

The next major support is near the $17,270 level. It is near the 61.8% Fib retracement level of the upward move from the $17,136 swing low to $17,500 high. The main support is now forming near the $17,130 level, below which the price might retest $16,800.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now losing pace in the bullish zone.<\/p>\n

Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n

Major Support Levels \u2013 $17,350, followed by $17,130.<\/p>\n

Major Resistance Levels \u2013 $17,500, $17,800 and $18,000.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-15790","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/15790","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=15790"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/15790\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=15790"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=15790"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=15790"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}