{"id":22709,"date":"2023-04-27T02:52:39","date_gmt":"2023-04-27T06:52:39","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=22709"},"modified":"2023-04-27T02:52:39","modified_gmt":"2023-04-27T06:52:39","slug":"bitcoin-price-saw-increase-in-volatility-heres-why-the-bulls-are-safe","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/04\/27\/bitcoin-price-saw-increase-in-volatility-heres-why-the-bulls-are-safe\/","title":{"rendered":"Bitcoin Price Saw Increase In Volatility, Here\u2019s Why The Bulls Are Safe"},"content":{"rendered":"

Bitcoin price saw a couple of wild moves above the $28,500 pivot level. BTC is now rising and showing positive signs above the $28,800 level.<\/em><\/p>\n

Bitcoin climbed sharply and then nosedived to revisit the $27,250 support.
\nThe price is trading above $28,000 and the 100 hourly Simple moving average.
\nThere is a key bullish trend line forming with support near $27,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could continue to rise if it clears the $29,400 and $29,500 resistance levels.<\/p>\n

Bitcoin Price Regains Traction<\/h2>\n

Bitcoin price started a major increase from the $27,000 support zone<\/a>. BTC climbed over $2,000 and broke the $29,250 resistance zone. It even tested the $30,000 resistance before the bears appeared.<\/p>\n

There was a sharp decline from the $30,037 high. Bitcoin dived over $2,000 and retested the $27,250 support where the bulls emerged. The price is now rising and trading above $28,000. It is also above $28,200 and the 100 hourly Simple moving average<\/a>. Besides, there is a key bullish trend line forming with support near $27,800 on the hourly chart of the BTC\/USD pair.<\/p>\n

The bulls pushed the price above the 50% Fib retracement level of the downward move from the $30,037 swing high to the $27,258 low. Immediate resistance is near the $29,400 level.<\/p>\n

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

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

The 76.4% Fib retracement level of the downward move from the $30,037 swing high to the $27,258 low is also near the $29,400 zone. The next major resistance sits near the $29,500 zone. A close above the $29,500 resistance could send Bitcoin toward $30,000. Any more gains could open the doors for a test of the key barrier at $31,000.<\/p>\n

Fresh Decline in BTC?<\/h2>\n

If Bitcoin\u2019s price fails to clear the $29,400 resistance, it could again start a fresh decline. Immediate support on the downside is near the $28,650 level.<\/p>\n

The next major support is near the $28,000 zone or the trend line. A downside break and close below the $28,000 support might push the price toward the $27,500 support. Any more losses might take Bitcoin toward $27,250.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now gaining 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 $28,650, followed by $28,000.<\/p>\n

Major Resistance Levels \u2013 $29,400, $29,500, and $30,000.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price saw a couple of wild moves above the $28,500 pivot level. BTC is now rising and showing positive signs above the $28,800 level.<\/em><\/p>\n

Bitcoin climbed sharply and then nosedived to revisit the $27,250 support.
\nThe price is trading above $28,000 and the 100 hourly Simple moving average.
\nThere is a key bullish trend line forming with support near $27,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could continue to rise if it clears the $29,400 and $29,500 resistance levels.<\/p>\n

Bitcoin Price Regains Traction<\/h2>\n

Bitcoin price started a major increase from the $27,000 support zone<\/a>. BTC climbed over $2,000 and broke the $29,250 resistance zone. It even tested the $30,000 resistance before the bears appeared.<\/p>\n

There was a sharp decline from the $30,037 high. Bitcoin dived over $2,000 and retested the $27,250 support where the bulls emerged. The price is now rising and trading above $28,000. It is also above $28,200 and the 100 hourly Simple moving average<\/a>. Besides, there is a key bullish trend line forming with support near $27,800 on the hourly chart of the BTC\/USD pair.<\/p>\n

The bulls pushed the price above the 50% Fib retracement level of the downward move from the $30,037 swing high to the $27,258 low. Immediate resistance is near the $29,400 level.<\/p>\n

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

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

The 76.4% Fib retracement level of the downward move from the $30,037 swing high to the $27,258 low is also near the $29,400 zone. The next major resistance sits near the $29,500 zone. A close above the $29,500 resistance could send Bitcoin toward $30,000. Any more gains could open the doors for a test of the key barrier at $31,000.<\/p>\n

Fresh Decline in BTC?<\/h2>\n

If Bitcoin\u2019s price fails to clear the $29,400 resistance, it could again start a fresh decline. Immediate support on the downside is near the $28,650 level.<\/p>\n

The next major support is near the $28,000 zone or the trend line. A downside break and close below the $28,000 support might push the price toward the $27,500 support. Any more losses might take Bitcoin toward $27,250.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now gaining 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 $28,650, followed by $28,000.<\/p>\n

Major Resistance Levels \u2013 $29,400, $29,500, and $30,000.<\/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-22709","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\/22709","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=22709"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/22709\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=22709"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=22709"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=22709"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}