{"id":26652,"date":"2023-07-12T03:52:43","date_gmt":"2023-07-12T07:52:43","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=26652"},"modified":"2023-07-12T03:52:43","modified_gmt":"2023-07-12T07:52:43","slug":"bitcoin-bulls-keep-pushing-why-btc-could-soon-attempt-to-surpass-31k","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/07\/12\/bitcoin-bulls-keep-pushing-why-btc-could-soon-attempt-to-surpass-31k\/","title":{"rendered":"Bitcoin Bulls Keep Pushing, Why BTC Could Soon Attempt To Surpass $31K"},"content":{"rendered":"

Bitcoin price is moving higher above the $30,500 level. BTC is showing signs of a fresh move toward the $31,000 resistance zone.<\/em><\/p>\n

Bitcoin is slowly moving higher above the $30,500 support zone.
\nThe price is trading above $30,400 and the 100 hourly Simple moving average.
\nThere is a key bullish trend line forming with support near $30,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could rise further toward the $31,000 resistance and then $31,400.<\/p>\n

Bitcoin Price Holds Ground<\/h2>\n

Bitcoin price remained stable above the $30,000 support zone<\/a>. A base was formed and BTC started a decent increase above the $30,200 level.<\/p>\n

The price was able to spike a couple of times above the 50% Fib retracement level of the downward move from the $31,020 high to the $30,215 low. However, the bears seem to be active near the $30,700 resistance zone. There is also a key bullish trend line forming with support near $30,500 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>. Immediate resistance on the upside is seen near the $30,720 level. It is close to the 61.8% Fib retracement level of the downward move from the $31,020 high to the $30,215 low.<\/p>\n\n

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

The next resistance is near the $31,000 zone, above which the price could gain bullish momentum. In the stated case, BTC might rise toward the $31,400 resistance. 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

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

If Bitcoin\u2019s price fails to clear the $30,700 resistance, it could start another decline. Immediate support on the downside is near the $30,500 level and the trend line.<\/p>\n

The next major support is near the $30,300 level and the 100 hourly Simple moving average, below which there could be a drop toward the $30,000 support zone. Any more losses might send the price toward the $29,850 level 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 now above the 50 level.<\/p>\n

Major Support Levels \u2013 $30,500, followed by $30,300.<\/p>\n

Major Resistance Levels \u2013 $30,700, $31,000, and $31,400.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price is moving higher above the $30,500 level. BTC is showing signs of a fresh move toward the $31,000 resistance zone.<\/em><\/p>\n

Bitcoin is slowly moving higher above the $30,500 support zone.
\nThe price is trading above $30,400 and the 100 hourly Simple moving average.
\nThere is a key bullish trend line forming with support near $30,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could rise further toward the $31,000 resistance and then $31,400.<\/p>\n

Bitcoin Price Holds Ground<\/h2>\n

Bitcoin price remained stable above the $30,000 support zone<\/a>. A base was formed and BTC started a decent increase above the $30,200 level.<\/p>\n

The price was able to spike a couple of times above the 50% Fib retracement level of the downward move from the $31,020 high to the $30,215 low. However, the bears seem to be active near the $30,700 resistance zone. There is also a key bullish trend line forming with support near $30,500 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>. Immediate resistance on the upside is seen near the $30,720 level. It is close to the 61.8% Fib retracement level of the downward move from the $31,020 high to the $30,215 low.<\/p>\n

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

The next resistance is near the $31,000 zone, above which the price could gain bullish momentum. In the stated case, BTC might rise toward the $31,400 resistance. 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

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

If Bitcoin\u2019s price fails to clear the $30,700 resistance, it could start another decline. Immediate support on the downside is near the $30,500 level and the trend line.<\/p>\n

The next major support is near the $30,300 level and the 100 hourly Simple moving average, below which there could be a drop toward the $30,000 support zone. Any more losses might send the price toward the $29,850 level 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 now above the 50 level.<\/p>\n

Major Support Levels \u2013 $30,500, followed by $30,300.<\/p>\n

Major Resistance Levels \u2013 $30,700, $31,000, 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-26652","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\/26652","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=26652"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/26652\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=26652"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=26652"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=26652"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}