{"id":24467,"date":"2023-05-23T03:52:44","date_gmt":"2023-05-23T07:52:44","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=24467"},"modified":"2023-05-23T03:52:44","modified_gmt":"2023-05-23T07:52:44","slug":"bitcoin-price-at-key-juncture-what-could-trigger-strong-increase","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/05\/23\/bitcoin-price-at-key-juncture-what-could-trigger-strong-increase\/","title":{"rendered":"Bitcoin Price At Key Juncture, What Could Trigger Strong Increase"},"content":{"rendered":"

Bitcoin price is slowly moving higher above $27,000. BTC could start a strong increase if it clears the $27,200 resistance zone.<\/em><\/p>\n

Bitcoin is attempting a fresh increase above the $27,000 level.
\nThe price is trading above $27,000 and the 100 hourly Simple moving average.
\nThere is a crucial bearish trend line forming with resistance near $27,150 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a major increase if it clears the $27,200 and $27,400 resistance levels.<\/p>\n

Bitcoin Price Eyes Upside Break<\/h2>\n

Bitcoin price remained well-bid above the $26,500 level<\/a>. BTC formed a base and started a recovery wave above the $26,850 resistance zone.<\/p>\n

There was a move above the 50% Fib retracement level of the downward move from the $27,269 swing high to the $26,536 low. Bitcoin price is now trading above $27,000 and the 100 hourly Simple moving average. It is also showing a few positive signs above the $27,000 level.<\/p>\n

Immediate resistance on the upside is near the $27,100 level. It is close to the 76.4% Fib retracement level of the downward move from the $27,269 swing high to the $26,536 low.<\/p>\n

The next major resistance is near the $27,150 level. There is also a crucial bearish trend line<\/a> forming with resistance near $27,150 on the hourly chart of the BTC\/USD pair. A close above the trend line might send the price toward the $27,400 resistance zone.<\/p>\n\n

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

The next key resistance is near $27,550, above which the price might start a strong increase toward the $28,000 resistance. Any more gains might send the price toward the $28,500 level.<\/p>\n

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

If Bitcoin\u2019s price fails to clear the $27,150 resistance, it could start another decline. Immediate support on the downside is near the $26,900 level and the 100 hourly Simple moving average.<\/p>\n

The next major support is near the $26,550 zone, below which the price might revisit the $26,350 support. In the stated case, there is a risk of a move toward the $25,800 level. Any more losses might take Bitcoin toward the $25,500 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 $26,900, followed by $26,550.<\/p>\n

Major Resistance Levels \u2013 $27,150, $27,400, and $27,550.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price is slowly moving higher above $27,000. BTC could start a strong increase if it clears the $27,200 resistance zone.<\/em><\/p>\n

Bitcoin is attempting a fresh increase above the $27,000 level.
\nThe price is trading above $27,000 and the 100 hourly Simple moving average.
\nThere is a crucial bearish trend line forming with resistance near $27,150 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a major increase if it clears the $27,200 and $27,400 resistance levels.<\/p>\n

Bitcoin Price Eyes Upside Break<\/h2>\n

Bitcoin price remained well-bid above the $26,500 level<\/a>. BTC formed a base and started a recovery wave above the $26,850 resistance zone.<\/p>\n

There was a move above the 50% Fib retracement level of the downward move from the $27,269 swing high to the $26,536 low. Bitcoin price is now trading above $27,000 and the 100 hourly Simple moving average. It is also showing a few positive signs above the $27,000 level.<\/p>\n

Immediate resistance on the upside is near the $27,100 level. It is close to the 76.4% Fib retracement level of the downward move from the $27,269 swing high to the $26,536 low.<\/p>\n

The next major resistance is near the $27,150 level. There is also a crucial bearish trend line<\/a> forming with resistance near $27,150 on the hourly chart of the BTC\/USD pair. A close above the trend line might send the price toward the $27,400 resistance zone.<\/p>\n

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

The next key resistance is near $27,550, above which the price might start a strong increase toward the $28,000 resistance. Any more gains might send the price toward the $28,500 level.<\/p>\n

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

If Bitcoin\u2019s price fails to clear the $27,150 resistance, it could start another decline. Immediate support on the downside is near the $26,900 level and the 100 hourly Simple moving average.<\/p>\n

The next major support is near the $26,550 zone, below which the price might revisit the $26,350 support. In the stated case, there is a risk of a move toward the $25,800 level. Any more losses might take Bitcoin toward the $25,500 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 $26,900, followed by $26,550.<\/p>\n

Major Resistance Levels \u2013 $27,150, $27,400, and $27,550.<\/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-24467","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\/24467","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=24467"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/24467\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=24467"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=24467"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=24467"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}