{"id":26307,"date":"2023-07-05T03:53:07","date_gmt":"2023-07-05T07:53:07","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=26307"},"modified":"2023-07-05T03:53:07","modified_gmt":"2023-07-05T07:53:07","slug":"bitcoin-price-could-see-fresh-liftoff-if-its-able-to-hold-one-key-level","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/07\/05\/bitcoin-price-could-see-fresh-liftoff-if-its-able-to-hold-one-key-level\/","title":{"rendered":"Bitcoin Price Could See Fresh \u201cLiftoff\u201d if It\u2019s Able to Hold One Key Level"},"content":{"rendered":"

Bitcoin price corrected gains and retested the $30,650 support. BTC could start a fresh increase if it stays above the $30,000 support zone.<\/em><\/p>\n

Bitcoin is holding gains above the $30,650 support zone.
\nThe price is trading above $30,700 and the 100 hourly Simple moving average.
\nThere is a key bullish trend line forming with support near $30,700 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a fresh increase if it stays above the $30,650 support zone.<\/p>\n

Bitcoin Price Remains Stable<\/h2>\n

Bitcoin price struggled to clear the key $31,400 resistance zone<\/a>. BTC started a downside correction below the $31,000 and $30,800 levels.<\/p>\n

The price declined below the 50% Fib retracement level of the upward move from the $30,192 swing low to the $31,372 high. However, the bulls were seen active near the $30,650 support zone and the 100 hourly Simple moving average.<\/p>\n

Bitcoin also tested the 61.8% Fib retracement level of the upward move from the $30,192 swing low to the $31,372 high. It is now trading above $30,700 and the 100 hourly Simple moving average<\/a>.<\/p>\n

There is also a key bullish trend line forming with support near $30,700 on the hourly chart of the BTC\/USD pair. Immediate resistance is near the $31,050 level. The first major resistance is near the $31,250 level, above which the price might start rise toward $31,400.<\/p>\n\n

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

A close above the $31,400 resistance could start another strong increase. The next major resistance is near the $32,000 level. Any more gains could open the doors for a move toward the $32,500 resistance zone.<\/p>\n

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

If Bitcoin\u2019s price fails to clear the $31,050 resistance, it could continue to move down. Immediate support on the downside is near the $30,650 level and the trend line and the 100 hourly Simple moving average.<\/p>\n

The next major support is near the $30,470 level, below which there could be a drop toward $30,200. Any more losses might send the price toward the $30,000 zone, under which there is a risk of a larger decline.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now losing pace in the bullish zone.<\/p>\n

Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is below the 50 level.<\/p>\n

Major Support Levels \u2013 $30,650, followed by $30,200.<\/p>\n

Major Resistance Levels \u2013 $31,050, $31,400, and $32,000.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price corrected gains and retested the $30,650 support. BTC could start a fresh increase if it stays above the $30,000 support zone.<\/em><\/p>\n

Bitcoin is holding gains above the $30,650 support zone.
\nThe price is trading above $30,700 and the 100 hourly Simple moving average.
\nThere is a key bullish trend line forming with support near $30,700 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a fresh increase if it stays above the $30,650 support zone.<\/p>\n

Bitcoin Price Remains Stable<\/h2>\n

Bitcoin price struggled to clear the key $31,400 resistance zone<\/a>. BTC started a downside correction below the $31,000 and $30,800 levels.<\/p>\n

The price declined below the 50% Fib retracement level of the upward move from the $30,192 swing low to the $31,372 high. However, the bulls were seen active near the $30,650 support zone and the 100 hourly Simple moving average.<\/p>\n

Bitcoin also tested the 61.8% Fib retracement level of the upward move from the $30,192 swing low to the $31,372 high. It is now trading above $30,700 and the 100 hourly Simple moving average<\/a>.<\/p>\n

There is also a key bullish trend line forming with support near $30,700 on the hourly chart of the BTC\/USD pair. Immediate resistance is near the $31,050 level. The first major resistance is near the $31,250 level, above which the price might start rise toward $31,400.<\/p>\n

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

A close above the $31,400 resistance could start another strong increase. The next major resistance is near the $32,000 level. Any more gains could open the doors for a move toward the $32,500 resistance zone.<\/p>\n

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

If Bitcoin\u2019s price fails to clear the $31,050 resistance, it could continue to move down. Immediate support on the downside is near the $30,650 level and the trend line and the 100 hourly Simple moving average.<\/p>\n

The next major support is near the $30,470 level, below which there could be a drop toward $30,200. Any more losses might send the price toward the $30,000 zone, under which there is a risk of a larger decline.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now losing pace in the bullish zone.<\/p>\n

Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is below the 50 level.<\/p>\n

Major Support Levels \u2013 $30,650, followed by $30,200.<\/p>\n

Major Resistance Levels \u2013 $31,050, $31,400, and $32,000.<\/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-26307","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\/26307","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=26307"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/26307\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=26307"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=26307"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=26307"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}