{"id":25971,"date":"2023-06-27T03:52:40","date_gmt":"2023-06-27T07:52:40","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=25971"},"modified":"2023-06-27T03:52:40","modified_gmt":"2023-06-27T07:52:40","slug":"bitcoin-price-aims-higher-but-100-sma-is-the-key","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/06\/27\/bitcoin-price-aims-higher-but-100-sma-is-the-key\/","title":{"rendered":"Bitcoin Price Aims Higher But 100 SMA Is The Key"},"content":{"rendered":"

Bitcoin price is attempting a fresh increase from the $30,000 zone. BTC could gain bullish momentum if it clears $30,500 and the 100 hourly SMA.<\/em><\/p>\n

Bitcoin is holding gains above the $30,000 support zone.
\nThe price is trading below $30,500 and the 100 hourly Simple moving average.
\nThere is a key bearish trend line forming with resistance near $30,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a fresh increase if it clears $30,500 and the 100 hourly SMA.<\/p>\n

Bitcoin Price Holds Key Support<\/h2>\n

Bitcoin price started a downside correction below the $30,500 support<\/a>. BTC even spiked below the $30,000 support zone but the downsides were limited.<\/p>\n

A low is formed near $29,914 and the price is now slowly moving higher. It traded above the 23.6% Fib retracement level of the recent downside correction from the $31,435 swing high to the $29,914 low. It is now trading above the $30,250 level.<\/p>\n

Bitcoin price seems to be facing resistance near $30,500 and the 100 hourly Simple moving average<\/a>. There is also a key bearish trend line forming with resistance near $30,500 on the hourly chart of the BTC\/USD pair, above which the bulls might attempt a fresh increase in the coming sessions.<\/p>\n

The first major resistance is near the $30,850 level. It is close to the 61.8% Fib retracement level of the recent downside correction from the $31,435 swing high to the $29,914 low, above which the price might revisit the $31,400 resistance zone.<\/p>\n\n

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

The next major resistance is near the $32,000 level. A close above the $32,000 resistance might send BTC toward $32,500. Any more gains could send the price toward the $33,200 resistance zone.<\/p>\n

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

If Bitcoin\u2019s price fails to clear the $30,500 resistance, it could continue to move down. Immediate support on the downside is near the $30,000 level or the $29,914 low.<\/p>\n

The next major support is near the $29,550 level, below which there could be a drop toward the $29,200 support. Any more losses might send the price toward $28,500 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 above the 50 level.<\/p>\n

Major Support Levels \u2013 $30,000, followed by $29,550.<\/p>\n

Major Resistance Levels \u2013 $30,500, $30,850, and $31,400.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price is attempting a fresh increase from the $30,000 zone. BTC could gain bullish momentum if it clears $30,500 and the 100 hourly SMA.<\/em><\/p>\n

Bitcoin is holding gains above the $30,000 support zone.
\nThe price is trading below $30,500 and the 100 hourly Simple moving average.
\nThere is a key bearish trend line forming with resistance near $30,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a fresh increase if it clears $30,500 and the 100 hourly SMA.<\/p>\n

Bitcoin Price Holds Key Support<\/h2>\n

Bitcoin price started a downside correction below the $30,500 support<\/a>. BTC even spiked below the $30,000 support zone but the downsides were limited.<\/p>\n

A low is formed near $29,914 and the price is now slowly moving higher. It traded above the 23.6% Fib retracement level of the recent downside correction from the $31,435 swing high to the $29,914 low. It is now trading above the $30,250 level.<\/p>\n

Bitcoin price seems to be facing resistance near $30,500 and the 100 hourly Simple moving average<\/a>. There is also a key bearish trend line forming with resistance near $30,500 on the hourly chart of the BTC\/USD pair, above which the bulls might attempt a fresh increase in the coming sessions.<\/p>\n

The first major resistance is near the $30,850 level. It is close to the 61.8% Fib retracement level of the recent downside correction from the $31,435 swing high to the $29,914 low, above which the price might revisit the $31,400 resistance zone.<\/p>\n

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

The next major resistance is near the $32,000 level. A close above the $32,000 resistance might send BTC toward $32,500. Any more gains could send the price toward the $33,200 resistance zone.<\/p>\n

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

If Bitcoin\u2019s price fails to clear the $30,500 resistance, it could continue to move down. Immediate support on the downside is near the $30,000 level or the $29,914 low.<\/p>\n

The next major support is near the $29,550 level, below which there could be a drop toward the $29,200 support. Any more losses might send the price toward $28,500 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 above the 50 level.<\/p>\n

Major Support Levels \u2013 $30,000, followed by $29,550.<\/p>\n

Major Resistance Levels \u2013 $30,500, $30,850, and $31,400.<\/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-25971","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\/25971","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=25971"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/25971\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=25971"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=25971"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=25971"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}