{"id":27088,"date":"2023-07-21T03:53:16","date_gmt":"2023-07-21T07:53:16","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=27088"},"modified":"2023-07-21T03:53:16","modified_gmt":"2023-07-21T07:53:16","slug":"bitcoin-price-relatively-muted-resistance-estimated-near-30400","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/07\/21\/bitcoin-price-relatively-muted-resistance-estimated-near-30400\/","title":{"rendered":"Bitcoin Price Relatively Muted; Resistance Estimated Near $30,400"},"content":{"rendered":"

Bitcoin price is still consolidating above $29,500. BTC must settle above the $30,400 resistance zone to start a steady increase in the near term.<\/em><\/p>\n

Bitcoin is struggling to clear the $30,000 resistance level.
\nThe price is trading below $30,000 and the 100 hourly Simple moving average.
\nThere was a break below a key bullish trend line with support near $29,950 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 $30,400 resistance.<\/p>\n

Bitcoin Price Remains In A Range<\/h2>\n

Bitcoin price attempted a fresh increase above the $30,400 resistance zone<\/a>. However, BTC struggled to settle above $30,400 and reacted to the downside.<\/p>\n

There was a break below a key bullish trend line with support near $29,950 on the hourly chart of the BTC\/USD pair. The pair declined below the $29,850 level but the downsides were limited. The price stayed above the $29,500 support.<\/p>\n

A low is formed near $29,591 and the price is now attempting a fresh increase. There was a move above the $29,650 level. Bitcoin price is now trading below $30,000 and the 100 hourly Simple moving average.<\/p>\n

Immediate resistance is near the $30,000 level and the 100 hourly Simple moving average<\/a>. It is close to the 50% Fib retracement level of the recent decline from the $30,405 swing high to the $29,591 low. The first major resistance is near the $30,100 level.<\/p>\n\n

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

The 61.8% Fib retracement level of the recent decline from the $30,405 swing high to the $29,591 low is also near the $30,100 level. The next major resistance is near $30,400. A close above the $30,400 level might start a fresh increase. In the stated case, the price could rise toward the $30,800 level. Any more gains could open the doors for a move toward the $31,200 resistance zone.<\/p>\n

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

If Bitcoin fails to clear the $30,000 resistance, it could continue to move down. Immediate support on the downside is near the $29,600 level.<\/p>\n

The next major support is near the $29,500 level, below which the price could accelerate lower. In the stated case, the price could drop toward the $29,200 support zone.<\/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 near the 50 level.<\/p>\n

Major Support Levels \u2013 $29,600, followed by $29,500.<\/p>\n

Major Resistance Levels \u2013 $30,000, $30,100, and $31,400.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price is still consolidating above $29,500. BTC must settle above the $30,400 resistance zone to start a steady increase in the near term.<\/em><\/p>\n

Bitcoin is struggling to clear the $30,000 resistance level.
\nThe price is trading below $30,000 and the 100 hourly Simple moving average.
\nThere was a break below a key bullish trend line with support near $29,950 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 $30,400 resistance.<\/p>\n

Bitcoin Price Remains In A Range<\/h2>\n

Bitcoin price attempted a fresh increase above the $30,400 resistance zone<\/a>. However, BTC struggled to settle above $30,400 and reacted to the downside.<\/p>\n

There was a break below a key bullish trend line with support near $29,950 on the hourly chart of the BTC\/USD pair. The pair declined below the $29,850 level but the downsides were limited. The price stayed above the $29,500 support.<\/p>\n

A low is formed near $29,591 and the price is now attempting a fresh increase. There was a move above the $29,650 level. Bitcoin price is now trading below $30,000 and the 100 hourly Simple moving average.<\/p>\n

Immediate resistance is near the $30,000 level and the 100 hourly Simple moving average<\/a>. It is close to the 50% Fib retracement level of the recent decline from the $30,405 swing high to the $29,591 low. The first major resistance is near the $30,100 level.<\/p>\n

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

The 61.8% Fib retracement level of the recent decline from the $30,405 swing high to the $29,591 low is also near the $30,100 level. The next major resistance is near $30,400. A close above the $30,400 level might start a fresh increase. In the stated case, the price could rise toward the $30,800 level. Any more gains could open the doors for a move toward the $31,200 resistance zone.<\/p>\n

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

If Bitcoin fails to clear the $30,000 resistance, it could continue to move down. Immediate support on the downside is near the $29,600 level.<\/p>\n

The next major support is near the $29,500 level, below which the price could accelerate lower. In the stated case, the price could drop toward the $29,200 support zone.<\/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 near the 50 level.<\/p>\n

Major Support Levels \u2013 $29,600, followed by $29,500.<\/p>\n

Major Resistance Levels \u2013 $30,000, $30,100, 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-27088","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\/27088","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=27088"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/27088\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=27088"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=27088"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=27088"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}