{"id":23261,"date":"2023-05-04T02:54:31","date_gmt":"2023-05-04T06:54:31","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=23261"},"modified":"2023-05-04T02:54:31","modified_gmt":"2023-05-04T06:54:31","slug":"bitcoin-price-regains-strength-post-fed-hike-30k-could-be-next","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/05\/04\/bitcoin-price-regains-strength-post-fed-hike-30k-could-be-next\/","title":{"rendered":"Bitcoin Price Regains Strength Post Fed Hike, $30K Could Be Next"},"content":{"rendered":"

Bitcoin price is recovering and trading above $29,000. BTC is slowly moving higher and the bulls might soon aim for a move toward the $30,000 resistance.<\/em><\/p>\n

Bitcoin is attempting a recovery wave above the $28,800 resistance zone.
\nThe price is trading above $28,800 and the 100 hourly Simple moving average.
\nThere was a break above a key contracting triangle with resistance near $28,700 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could rise further and revisit the $30,000 resistance zone.<\/p>\n

Bitcoin Price Recovers Losses<\/h2>\n

Bitcoin price remained well-bid above the $28,000 support zone<\/a>. BTC started a decent recovery wave above the $28,500 resistance zone. It even broke the $28,800 resistance after the Fed announced another rate hike from 5% to 5.25%.<\/p>\n

There was a break above a key contracting triangle with resistance near $28,700 on the hourly chart of the BTC\/USD pair. The pair is now trading above $28,800 and the 100 hourly Simple moving average.<\/p>\n

Bitcoin price is currently consolidating near the 61.8% Fib retracement level of the main decline from the $29,975 swing high to the $27,664 low. Immediate resistance is near the $29,200 level<\/a>.<\/p>\n

The next major resistance sits near the $29,420 zone. It is close to the 76.4% Fib retracement level of the main decline from the $29,975 swing high to the $27,664 low. A proper move above the $29,420 resistance zone might send the price toward the $30,000 resistance zone.<\/p>\n

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

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

Any more gains could open the doors for a test of the $30,500 resistance. In the stated case, the price may perhaps rise toward the $31,200 level.<\/p>\n

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

If Bitcoin\u2019s price fails to clear the $29,200 resistance, it could start a downside correction. Immediate support on the downside is near the $28,800 level and the triangle trend line.<\/p>\n

The next major support is near the $28,650 zone or the 100 hourly Simple moving average, below which the price might drop toward the $28,400 support zone. Any more losses might take Bitcoin toward the $28,000 level in the near term.<\/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 $28,800, followed by $28,650.<\/p>\n

Major Resistance Levels \u2013 $29,200, $29,420, and $30,000.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price is recovering and trading above $29,000. BTC is slowly moving higher and the bulls might soon aim for a move toward the $30,000 resistance.<\/em><\/p>\n

Bitcoin is attempting a recovery wave above the $28,800 resistance zone.
\nThe price is trading above $28,800 and the 100 hourly Simple moving average.
\nThere was a break above a key contracting triangle with resistance near $28,700 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could rise further and revisit the $30,000 resistance zone.<\/p>\n

Bitcoin Price Recovers Losses<\/h2>\n

Bitcoin price remained well-bid above the $28,000 support zone<\/a>. BTC started a decent recovery wave above the $28,500 resistance zone. It even broke the $28,800 resistance after the Fed announced another rate hike from 5% to 5.25%.<\/p>\n

There was a break above a key contracting triangle with resistance near $28,700 on the hourly chart of the BTC\/USD pair. The pair is now trading above $28,800 and the 100 hourly Simple moving average.<\/p>\n

Bitcoin price is currently consolidating near the 61.8% Fib retracement level of the main decline from the $29,975 swing high to the $27,664 low. Immediate resistance is near the $29,200 level<\/a>.<\/p>\n

The next major resistance sits near the $29,420 zone. It is close to the 76.4% Fib retracement level of the main decline from the $29,975 swing high to the $27,664 low. A proper move above the $29,420 resistance zone might send the price toward the $30,000 resistance zone.<\/p>\n

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

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

Any more gains could open the doors for a test of the $30,500 resistance. In the stated case, the price may perhaps rise toward the $31,200 level.<\/p>\n

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

If Bitcoin\u2019s price fails to clear the $29,200 resistance, it could start a downside correction. Immediate support on the downside is near the $28,800 level and the triangle trend line.<\/p>\n

The next major support is near the $28,650 zone or the 100 hourly Simple moving average, below which the price might drop toward the $28,400 support zone. Any more losses might take Bitcoin toward the $28,000 level in the near term.<\/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 $28,800, followed by $28,650.<\/p>\n

Major Resistance Levels \u2013 $29,200, $29,420, 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-23261","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\/23261","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=23261"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/23261\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=23261"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=23261"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=23261"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}