{"id":17111,"date":"2023-01-30T03:52:52","date_gmt":"2023-01-30T07:52:52","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=17111"},"modified":"2023-01-30T03:52:52","modified_gmt":"2023-01-30T07:52:52","slug":"bitcoin-price-resumes-uptrend-as-the-bulls-aim-the-key-25k-barrier","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/01\/30\/bitcoin-price-resumes-uptrend-as-the-bulls-aim-the-key-25k-barrier\/","title":{"rendered":"Bitcoin Price Resumes Uptrend as The Bulls Aim The Key $25K Barrier"},"content":{"rendered":"

Bitcoin price started another increase above the $23,000 resistance. BTC is rising and the bulls might aim a test of the $25,000 resistance zone.<\/em><\/p>\n

Bitcoin is gaining pace above the $23,500 resistance zone.
\nThe price is trading above $23,000 and the 100 hourly simple moving average.
\nThere was a break above a key contracting triangle with resistance near $23,145 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could rise further towards $25,000 if it stays above the $23,450 support zone.<\/p>\n

Bitcoin Price Starts Increase<\/h2>\n

Bitcoin price remained well bid above the $22,500 support zone<\/a>. BTC formed a base and started a fresh increase above the $23,000 resistance zone.<\/p>\n

The bulls were able to pump the price above the $23,200 resistance and the 100 hourly simple moving average. The price even cleared the $23,500 resistance zone and traded to a new yearly high at $23,950. During the increase, there was a break above a key contracting triangle with resistance near $23,145 on the hourly chart of the BTC\/USD pair.<\/p>\n

It is now consolidating below the 23.6% Fib retracement level of the recent increase from the $22,900 swing low to $23,950 high. Bitcoin price is also trading above $23,000 and the 100 hourly simple moving average<\/a>.<\/p>\n

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

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

An immediate resistance is near the $23,800 level. The next major resistance is near the $24,200 zone, above which the price might start a strong increase. In the stated case, the price may perhaps rise towards the $25,000 level. The next resistance could be near the $25,500 level. Any more gains might send btc price towards the $26,000 level.<\/p>\n

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

If bitcoin price fails to clear the $23,800 resistance, it could start a downside correction. An immediate support on the downside is near the $23,650 zone.<\/p>\n

The next major support is near the $23,450 zone or the 50% Fib retracement level of the recent increase from the $22,900 swing low to $23,950 high. A downside break below the $23,450 level might send the price towards the $23,150 level. Any more losses might send the price to $22,650 in the near term.<\/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 $23,450, followed by $23,200.<\/p>\n

Major Resistance Levels \u2013 $23,800, $23,950 and $24,200.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price started another increase above the $23,000 resistance. BTC is rising and the bulls might aim a test of the $25,000 resistance zone.<\/em><\/p>\n

Bitcoin is gaining pace above the $23,500 resistance zone.
\nThe price is trading above $23,000 and the 100 hourly simple moving average.
\nThere was a break above a key contracting triangle with resistance near $23,145 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could rise further towards $25,000 if it stays above the $23,450 support zone.<\/p>\n

Bitcoin Price Starts Increase<\/h2>\n

Bitcoin price remained well bid above the $22,500 support zone<\/a>. BTC formed a base and started a fresh increase above the $23,000 resistance zone.<\/p>\n

The bulls were able to pump the price above the $23,200 resistance and the 100 hourly simple moving average. The price even cleared the $23,500 resistance zone and traded to a new yearly high at $23,950. During the increase, there was a break above a key contracting triangle with resistance near $23,145 on the hourly chart of the BTC\/USD pair.<\/p>\n

It is now consolidating below the 23.6% Fib retracement level of the recent increase from the $22,900 swing low to $23,950 high. Bitcoin price is also trading above $23,000 and the 100 hourly simple moving average<\/a>.<\/p>\n

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

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

An immediate resistance is near the $23,800 level. The next major resistance is near the $24,200 zone, above which the price might start a strong increase. In the stated case, the price may perhaps rise towards the $25,000 level. The next resistance could be near the $25,500 level. Any more gains might send btc price towards the $26,000 level.<\/p>\n

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

If bitcoin price fails to clear the $23,800 resistance, it could start a downside correction. An immediate support on the downside is near the $23,650 zone.<\/p>\n

The next major support is near the $23,450 zone or the 50% Fib retracement level of the recent increase from the $22,900 swing low to $23,950 high. A downside break below the $23,450 level might send the price towards the $23,150 level. Any more losses might send the price to $22,650 in the near term.<\/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 $23,450, followed by $23,200.<\/p>\n

Major Resistance Levels \u2013 $23,800, $23,950 and $24,200.<\/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-17111","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\/17111","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=17111"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/17111\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=17111"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=17111"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=17111"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}