{"id":25695,"date":"2023-06-21T02:56:50","date_gmt":"2023-06-21T06:56:50","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=25695"},"modified":"2023-06-21T02:56:50","modified_gmt":"2023-06-21T06:56:50","slug":"bitcoin-price-surges-8-and-defies-gravity-bulls-eye-30k","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/06\/21\/bitcoin-price-surges-8-and-defies-gravity-bulls-eye-30k\/","title":{"rendered":"Bitcoin Price Surges 8% And Defies Gravity \u2013 Bulls Eye $30K"},"content":{"rendered":"

Bitcoin price is surging above $28,000. BTC is up nearly 8% and there are chances of a move toward the $30,000 resistance zone.<\/em><\/p>\n

Bitcoin is gaining pace above the $27,000 resistance.
\nThe price is trading above $27,500 and the 100 hourly Simple moving average.
\nThere is a major bullish trend line forming with support near $27,300 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could rise further if it clears the $29,000 and $29,200 resistance levels.<\/p>\n

Bitcoin Price Rallies Above $28K<\/h2>\n

Bitcoin price formed a strong support base<\/a> above the $26,000 pivot level. BTC started a fresh rally and was able to clear the $27,500 resistance zone.<\/p>\n

It opened the doors for a sustained upward move above the $28,000 level. The price even tested the $29,000 resistance zone. A high is formed near $29,000 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the recent surge from the $26,650 swing low to the $29,000 high.<\/p>\n

Bitcoin price is now trading above $27,500 and the 100 hourly Simple moving average<\/a>. There is also a major bullish trend line forming with support near $27,300 on the hourly chart of the BTC\/USD pair.<\/p>\n\n

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

On the upside, the price is facing resistance near the $29,000 level. The next major resistance is near the $29,200 level. A close above the $29,200 resistance might spark another strong move in the near term. The next major resistance is near the $30,000 level, above which the bulls might send BTC toward the $30,800 resistance zone.<\/p>\n

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

If Bitcoin\u2019s price fails to clear the $29,000 resistance, it could start a downside correction. Immediate support on the downside is near the $28,450 level.<\/p>\n

The next major support is near the $27,850 level or the 50% Fib retracement level of the recent surge from the $26,650 swing low to the $29,000 high. The main support is now near $27,500 and the trend line zone, below which the price might start a steady decline toward $27,000. Any more losses might send the price toward $26,500 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 in the overbought zone.<\/p>\n

Major Support Levels \u2013 $28,450, 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 is surging above $28,000. BTC is up nearly 8% and there are chances of a move toward the $30,000 resistance zone.<\/em><\/p>\n

Bitcoin is gaining pace above the $27,000 resistance.
\nThe price is trading above $27,500 and the 100 hourly Simple moving average.
\nThere is a major bullish trend line forming with support near $27,300 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could rise further if it clears the $29,000 and $29,200 resistance levels.<\/p>\n

Bitcoin Price Rallies Above $28K<\/h2>\n

Bitcoin price formed a strong support base<\/a> above the $26,000 pivot level. BTC started a fresh rally and was able to clear the $27,500 resistance zone.<\/p>\n

It opened the doors for a sustained upward move above the $28,000 level. The price even tested the $29,000 resistance zone. A high is formed near $29,000 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the recent surge from the $26,650 swing low to the $29,000 high.<\/p>\n

Bitcoin price is now trading above $27,500 and the 100 hourly Simple moving average<\/a>. There is also a major bullish trend line forming with support near $27,300 on the hourly chart of the BTC\/USD pair.<\/p>\n

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

On the upside, the price is facing resistance near the $29,000 level. The next major resistance is near the $29,200 level. A close above the $29,200 resistance might spark another strong move in the near term. The next major resistance is near the $30,000 level, above which the bulls might send BTC toward the $30,800 resistance zone.<\/p>\n

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

If Bitcoin\u2019s price fails to clear the $29,000 resistance, it could start a downside correction. Immediate support on the downside is near the $28,450 level.<\/p>\n

The next major support is near the $27,850 level or the 50% Fib retracement level of the recent surge from the $26,650 swing low to the $29,000 high. The main support is now near $27,500 and the trend line zone, below which the price might start a steady decline toward $27,000. Any more losses might send the price toward $26,500 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 in the overbought zone.<\/p>\n

Major Support Levels \u2013 $28,450, 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-25695","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\/25695","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=25695"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/25695\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=25695"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=25695"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=25695"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}