{"id":26978,"date":"2023-07-19T03:52:44","date_gmt":"2023-07-19T07:52:44","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=26978"},"modified":"2023-07-19T03:52:44","modified_gmt":"2023-07-19T07:52:44","slug":"bitcoin-bulls-keeps-pushing-why-fresh-increase-to-31k-seems-likely","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/07\/19\/bitcoin-bulls-keeps-pushing-why-fresh-increase-to-31k-seems-likely\/","title":{"rendered":"Bitcoin Bulls Keeps Pushing, Why Fresh Increase To $31K Seems Likely"},"content":{"rendered":"

Bitcoin price is attempting a fresh increase from $29,500. BTC could gain bullish momentum if it clears the $30,200 resistance zone in the near term.<\/em><\/p>\n

Bitcoin is slowly moving higher from the $29,500 level.
\nThe price is trading below $30,200 and the 100 hourly Simple moving average.
\nThere is a major bearish trend line forming with resistance near $30,100 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a decent increase if there is a close above the $30,200 resistance.<\/p>\n

Bitcoin Price Aims Higher<\/h2>\n

Bitcoin price followed a bearish path below the $30,200 pivot level<\/a>. BTC even broke the $29,850 level and tested the $29,500 level. A low is formed near $29,500 and the price is now attempting a fresh increase.<\/p>\n

The price climbed above the $29,850 and $30,000 resistance levels. There was a move above the 50% Fib retracement level of the downward move from the $30,448 swing high to the $29,500 low. The price is now consolidating near $30,000.<\/p>\n

Bitcoin price is still trading below $30,200 and the 100 hourly Simple moving average<\/a>. Immediate resistance is near the $30,080 level. There is also a major bearish trend line forming with resistance near $30,100 on the hourly chart of the BTC\/USD pair.<\/p>\n

The trend line is near the 61.8% Fib retracement level of the downward move from the $30,448 swing high to the $29,500 low. The first major resistance is near $30,200. A close above the $30,200 level might start a fresh increase.<\/p>\n\n

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

The next major resistance is near the $30,500 level. Any more gains could open the doors for a move toward the $31,000 resistance zone.<\/p>\n

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

If Bitcoin fails to clear the $30,200 resistance, it could continue to move down. Immediate support on the downside is near the $29,650 level.<\/p>\n

The next major support is near the $29,500 level, below which the price could gain bearish momentum. In the stated case, the price could drop toward the $29,200 support zone. Any more losses might send the price toward the $28,750 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 $29,650, followed by $29,200.<\/p>\n

Major Resistance Levels \u2013 $30,100, $30,200, and $30,500.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price is attempting a fresh increase from $29,500. BTC could gain bullish momentum if it clears the $30,200 resistance zone in the near term.<\/em><\/p>\n

Bitcoin is slowly moving higher from the $29,500 level.
\nThe price is trading below $30,200 and the 100 hourly Simple moving average.
\nThere is a major bearish trend line forming with resistance near $30,100 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a decent increase if there is a close above the $30,200 resistance.<\/p>\n

Bitcoin Price Aims Higher<\/h2>\n

Bitcoin price followed a bearish path below the $30,200 pivot level<\/a>. BTC even broke the $29,850 level and tested the $29,500 level. A low is formed near $29,500 and the price is now attempting a fresh increase.<\/p>\n

The price climbed above the $29,850 and $30,000 resistance levels. There was a move above the 50% Fib retracement level of the downward move from the $30,448 swing high to the $29,500 low. The price is now consolidating near $30,000.<\/p>\n

Bitcoin price is still trading below $30,200 and the 100 hourly Simple moving average<\/a>. Immediate resistance is near the $30,080 level. There is also a major bearish trend line forming with resistance near $30,100 on the hourly chart of the BTC\/USD pair.<\/p>\n

The trend line is near the 61.8% Fib retracement level of the downward move from the $30,448 swing high to the $29,500 low. The first major resistance is near $30,200. A close above the $30,200 level might start a fresh increase.<\/p>\n

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

The next major resistance is near the $30,500 level. Any more gains could open the doors for a move toward the $31,000 resistance zone.<\/p>\n

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

If Bitcoin fails to clear the $30,200 resistance, it could continue to move down. Immediate support on the downside is near the $29,650 level.<\/p>\n

The next major support is near the $29,500 level, below which the price could gain bearish momentum. In the stated case, the price could drop toward the $29,200 support zone. Any more losses might send the price toward the $28,750 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 $29,650, followed by $29,200.<\/p>\n

Major Resistance Levels \u2013 $30,100, $30,200, and $30,500.<\/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-26978","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\/26978","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=26978"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/26978\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=26978"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=26978"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=26978"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}