{"id":26131,"date":"2023-06-30T03:52:40","date_gmt":"2023-06-30T07:52:40","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=26131"},"modified":"2023-06-30T03:52:40","modified_gmt":"2023-06-30T07:52:40","slug":"bitcoin-price-key-indicators-suggest-a-strengthening-case-for-rally-to-32k","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/06\/30\/bitcoin-price-key-indicators-suggest-a-strengthening-case-for-rally-to-32k\/","title":{"rendered":"Bitcoin Price Key Indicators Suggest A Strengthening Case For Rally To $32K"},"content":{"rendered":"

Bitcoin price is still struggling to clear the $31,000 resistance. BTC is showing strength and might soon rally toward the $32,000 resistance.<\/em><\/p>\n

Bitcoin is trading in a range below the $31,000 resistance zone.
\nThe price is trading above $30,400 and the 100 hourly Simple moving average.
\nThere was a break above a key declining channel with resistance near $30,210 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could gain bullish momentum if it clears the $30,750 resistance zone.<\/p>\n

Bitcoin Price Aims Higher<\/h2>\n

Bitcoin price corrected lower below the $30,500 support zone<\/a>. BTC even spiked below the $30,000 level but downsides were limited. A low is formed near $29,834 and the price is again rising.<\/p>\n

There was a move above the $30,000 and $30,200 resistance levels. The price climbed above the 50% Fib retracement level of the downward move from the $31,008 swing high to the $29,834 low. Besides, there was a break above a key declining channel with resistance near $30,210 on the hourly chart of the BTC\/USD pair.<\/p>\n

Bitcoin price is now trading above $30,400 and the 100 hourly Simple moving average<\/a>. It is also trading above the $30,550 pivot level. Immediate resistance is near the $30,750 level. It is close to the 76.4% Fib retracement level of the downward move from the $31,008 swing high to the $29,834 low.<\/p>\n\n

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

The first major resistance is near the $31,000 level, above which the price gain bullish momentum. The next major resistance is near the $31,450 level. An upside break above the $31,450 resistance might send BTC toward $32,000. Any more gains could open the doors for a move toward the $32,500 resistance zone.<\/p>\n

Another Dip in BTC?<\/h2>\n

If Bitcoin\u2019s price fails to clear the $30,750 resistance, it could start another decline. Immediate support on the downside is near the $30,420 level and the 100 hourly Simple moving average.<\/p>\n

The next major support is near the $30,000 level, below which there could be a drop toward the $29,550 support. Any more losses might send the price toward the $29,000 zone 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 $30,420, followed by $30,000.<\/p>\n

Major Resistance Levels \u2013 $30,750, $31,000, and $31,450.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price is still struggling to clear the $31,000 resistance. BTC is showing strength and might soon rally toward the $32,000 resistance.<\/em><\/p>\n

Bitcoin is trading in a range below the $31,000 resistance zone.
\nThe price is trading above $30,400 and the 100 hourly Simple moving average.
\nThere was a break above a key declining channel with resistance near $30,210 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could gain bullish momentum if it clears the $30,750 resistance zone.<\/p>\n

Bitcoin Price Aims Higher<\/h2>\n

Bitcoin price corrected lower below the $30,500 support zone<\/a>. BTC even spiked below the $30,000 level but downsides were limited. A low is formed near $29,834 and the price is again rising.<\/p>\n

There was a move above the $30,000 and $30,200 resistance levels. The price climbed above the 50% Fib retracement level of the downward move from the $31,008 swing high to the $29,834 low. Besides, there was a break above a key declining channel with resistance near $30,210 on the hourly chart of the BTC\/USD pair.<\/p>\n

Bitcoin price is now trading above $30,400 and the 100 hourly Simple moving average<\/a>. It is also trading above the $30,550 pivot level. Immediate resistance is near the $30,750 level. It is close to the 76.4% Fib retracement level of the downward move from the $31,008 swing high to the $29,834 low.<\/p>\n

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

The first major resistance is near the $31,000 level, above which the price gain bullish momentum. The next major resistance is near the $31,450 level. An upside break above the $31,450 resistance might send BTC toward $32,000. Any more gains could open the doors for a move toward the $32,500 resistance zone.<\/p>\n

Another Dip in BTC?<\/h2>\n

If Bitcoin\u2019s price fails to clear the $30,750 resistance, it could start another decline. Immediate support on the downside is near the $30,420 level and the 100 hourly Simple moving average.<\/p>\n

The next major support is near the $30,000 level, below which there could be a drop toward the $29,550 support. Any more losses might send the price toward the $29,000 zone 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 $30,420, followed by $30,000.<\/p>\n

Major Resistance Levels \u2013 $30,750, $31,000, and $31,450.<\/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-26131","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\/26131","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=26131"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/26131\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=26131"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=26131"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=26131"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}