{"id":22994,"date":"2023-05-01T02:53:10","date_gmt":"2023-05-01T06:53:10","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=22994"},"modified":"2023-05-01T02:53:10","modified_gmt":"2023-05-01T06:53:10","slug":"bitcoin-price-rejects-30k-but-this-variable-can-trigger-a-fresh-increase","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/05\/01\/bitcoin-price-rejects-30k-but-this-variable-can-trigger-a-fresh-increase\/","title":{"rendered":"Bitcoin Price Rejects $30K But This Variable Can Trigger A Fresh Increase"},"content":{"rendered":"

Bitcoin price attempted an upside break above the $30,000 resistance. BTC failed and corrected lower toward the $28,400 support zone.<\/em><\/p>\n

Bitcoin is struggling to gain pace above the $29,400 and $29,500 resistance levels.
\nThe price is trading below $29,200 and the 100 hourly Simple moving average.
\nThere is a key bearish trend line forming with resistance near $28,950 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a fresh increase if it stays above the $27,850 support zone.<\/p>\n

Bitcoin Price Remains Supported<\/h2>\n

Bitcoin price gained pace for a move above the $29,200 resistance zone<\/a>. However, BTC struggled to remain in a positive zone above the $29,400 and $29,500 resistance levels.<\/p>\n

The bulls struggled near the $30,000 resistance zone. A high was formed near $29,975 and the price started a fresh decline. There was a move below the $29,500 and $29,200 support levels. A low is formed near $28,360 and the price is now consolidating losses.<\/p>\n

Bitcoin price is trading below $29,200 and the 100 hourly Simple moving average<\/a>. There is also a key bearish trend line forming with resistance near $28,950 on the hourly chart of the BTC\/USD pair.<\/p>\n

Immediate resistance is near the $28,750 level. It is close to the 23.6% Fib retracement level of the recent decline from the $29,975 swing high to the $28,360 low. The next major resistance sits near the $29,000 zone and the trend line.<\/p>\n

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

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

The first major resistance is near $29,200 and the 100 hourly Simple moving average. It is close to the 50% Fib retracement level of the recent decline from the $29,975 swing high to the $28,360 low. A close above the $29,200 resistance could send Bitcoin toward $29,500. Any more gains could open the doors for a test of the key barrier at $30,000.<\/p>\n

More Losses in BTC?<\/h2>\n

If Bitcoin\u2019s price fails to clear the $29,200 resistance, it could continue to move down. Immediate support on the downside is near the $28,400 level.<\/p>\n

The next major support is near the $27,850 zone, below which the price might dive toward the $27,200 support zone. Any more losses might take Bitcoin toward $26,500 in the near term.<\/p>\n

Technical indicators:<\/p>\n

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

Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 40 level.<\/p>\n

Major Support Levels \u2013 $28,400, followed by $27,850.<\/p>\n

Major Resistance Levels \u2013 $29,000, $29,200, and $30,000.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price attempted an upside break above the $30,000 resistance. BTC failed and corrected lower toward the $28,400 support zone.<\/em><\/p>\n

Bitcoin is struggling to gain pace above the $29,400 and $29,500 resistance levels.
\nThe price is trading below $29,200 and the 100 hourly Simple moving average.
\nThere is a key bearish trend line forming with resistance near $28,950 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a fresh increase if it stays above the $27,850 support zone.<\/p>\n

Bitcoin Price Remains Supported<\/h2>\n

Bitcoin price gained pace for a move above the $29,200 resistance zone<\/a>. However, BTC struggled to remain in a positive zone above the $29,400 and $29,500 resistance levels.<\/p>\n

The bulls struggled near the $30,000 resistance zone. A high was formed near $29,975 and the price started a fresh decline. There was a move below the $29,500 and $29,200 support levels. A low is formed near $28,360 and the price is now consolidating losses.<\/p>\n

Bitcoin price is trading below $29,200 and the 100 hourly Simple moving average<\/a>. There is also a key bearish trend line forming with resistance near $28,950 on the hourly chart of the BTC\/USD pair.<\/p>\n

Immediate resistance is near the $28,750 level. It is close to the 23.6% Fib retracement level of the recent decline from the $29,975 swing high to the $28,360 low. The next major resistance sits near the $29,000 zone and the trend line.<\/p>\n

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

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

The first major resistance is near $29,200 and the 100 hourly Simple moving average. It is close to the 50% Fib retracement level of the recent decline from the $29,975 swing high to the $28,360 low. A close above the $29,200 resistance could send Bitcoin toward $29,500. Any more gains could open the doors for a test of the key barrier at $30,000.<\/p>\n

More Losses in BTC?<\/h2>\n

If Bitcoin\u2019s price fails to clear the $29,200 resistance, it could continue to move down. Immediate support on the downside is near the $28,400 level.<\/p>\n

The next major support is near the $27,850 zone, below which the price might dive toward the $27,200 support zone. Any more losses might take Bitcoin toward $26,500 in the near term.<\/p>\n

Technical indicators:<\/p>\n

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

Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 40 level.<\/p>\n

Major Support Levels \u2013 $28,400, followed by $27,850.<\/p>\n

Major Resistance Levels \u2013 $29,000, $29,200, 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-22994","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\/22994","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=22994"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/22994\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=22994"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=22994"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=22994"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}