{"id":25756,"date":"2023-06-22T02:52:43","date_gmt":"2023-06-22T06:52:43","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=25756"},"modified":"2023-06-22T02:52:43","modified_gmt":"2023-06-22T06:52:43","slug":"bitcoin-bulls-keep-pushing-why-rally-isnt-over-yet-2","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/06\/22\/bitcoin-bulls-keep-pushing-why-rally-isnt-over-yet-2\/","title":{"rendered":"Bitcoin Bulls Keep Pushing, Why Rally Isn\u2019t Over Yet"},"content":{"rendered":"

Bitcoin price is surging above $30,000. BTC is up over 10% and it seems like the bulls are not done yet and might be aiming for a move to $32,000.<\/em><\/p>\n

Bitcoin is gaining pace above the $30,000 resistance.
\nThe price is trading above $29,500 and the 100 hourly Simple moving average.
\nThere is a key bullish trend line forming with support near $30,250 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could rise further if it clears the $30,800 and $31,200 resistance levels.<\/p>\n

Bitcoin Price Extends Its Rally<\/h2>\n

Bitcoin price started a major rally above the $28,500 resistance zone<\/a>. BTC gained strength and was able to clear the key $29,200 resistance zone. It is up over 10% and there was a clear move above the $30,000 resistance.<\/p>\n

It traded close to $30,800. A high is formed near $30,794 and the price recently saw a minor downside correction. There was a move below the $30,500 level. The price dipped below the 23.6% Fib retracement level of the recent wave from the $28,660 swing low to the $30,794 high.<\/p>\n

Bitcoin price is now trading above $29,500 and the 100 hourly Simple moving average<\/a>. There is also a key bullish trend line forming with support near $30,250 on the hourly chart of the BTC\/USD pair.<\/p>\n\n

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

It is again rising and trading above the $30,000 level. On the upside, the price is facing resistance near the $30,300 level. The next major resistance is near the $30,800 level. An upside break above the $30,800 resistance could start a fresh increase toward the $31,200 level. The next major resistance is near the $32,000 level, above which the bulls might send BTC toward the $32,500 resistance zone.<\/p>\n

Dips Present Buying Opportunity in BTC?<\/h2>\n

If Bitcoin\u2019s price fails to clear the $30,800 resistance, it could start a downside correction. Immediate support on the downside is near the $30,250 level and the trend line.<\/p>\n

The next major support is near the $29,750 level or the 50% Fib retracement level of the recent wave from the $28,660 swing low to the $30,794 high. The main support is now near $29,000, below which the price might drop toward the $28,500 support. Any more losses might send the price toward $27,500 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 $30,200, followed by $29,750.<\/p>\n

Major Resistance Levels \u2013 $30,300, $30,800, and $31,200.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price is surging above $30,000. BTC is up over 10% and it seems like the bulls are not done yet and might be aiming for a move to $32,000.<\/em><\/p>\n

Bitcoin is gaining pace above the $30,000 resistance.
\nThe price is trading above $29,500 and the 100 hourly Simple moving average.
\nThere is a key bullish trend line forming with support near $30,250 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could rise further if it clears the $30,800 and $31,200 resistance levels.<\/p>\n

Bitcoin Price Extends Its Rally<\/h2>\n

Bitcoin price started a major rally above the $28,500 resistance zone<\/a>. BTC gained strength and was able to clear the key $29,200 resistance zone. It is up over 10% and there was a clear move above the $30,000 resistance.<\/p>\n

It traded close to $30,800. A high is formed near $30,794 and the price recently saw a minor downside correction. There was a move below the $30,500 level. The price dipped below the 23.6% Fib retracement level of the recent wave from the $28,660 swing low to the $30,794 high.<\/p>\n

Bitcoin price is now trading above $29,500 and the 100 hourly Simple moving average<\/a>. There is also a key bullish trend line forming with support near $30,250 on the hourly chart of the BTC\/USD pair.<\/p>\n

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

It is again rising and trading above the $30,000 level. On the upside, the price is facing resistance near the $30,300 level. The next major resistance is near the $30,800 level. An upside break above the $30,800 resistance could start a fresh increase toward the $31,200 level. The next major resistance is near the $32,000 level, above which the bulls might send BTC toward the $32,500 resistance zone.<\/p>\n

Dips Present Buying Opportunity in BTC?<\/h2>\n

If Bitcoin\u2019s price fails to clear the $30,800 resistance, it could start a downside correction. Immediate support on the downside is near the $30,250 level and the trend line.<\/p>\n

The next major support is near the $29,750 level or the 50% Fib retracement level of the recent wave from the $28,660 swing low to the $30,794 high. The main support is now near $29,000, below which the price might drop toward the $28,500 support. Any more losses might send the price toward $27,500 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 $30,200, followed by $29,750.<\/p>\n

Major Resistance Levels \u2013 $30,300, $30,800, and $31,200.<\/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-25756","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\/25756","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=25756"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/25756\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=25756"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=25756"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=25756"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}