{"id":27350,"date":"2023-07-27T03:52:36","date_gmt":"2023-07-27T07:52:36","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=27350"},"modified":"2023-07-27T03:52:36","modified_gmt":"2023-07-27T07:52:36","slug":"bitcoin-price-struggles-post-expected-fed-result-more-losses-ahead","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/07\/27\/bitcoin-price-struggles-post-expected-fed-result-more-losses-ahead\/","title":{"rendered":"Bitcoin Price Struggles Post Expected Fed Result, More Losses Ahead?"},"content":{"rendered":"

Bitcoin price is struggling to recover above the $29,000 resistance level. BTC must settle above $29,000 and then $29,600 to move into a positive zone.<\/em><\/p>\n

Bitcoin is attempting a recovery wave above the $28,850 level.
\nThe price is trading below $29,200 and the 100 hourly Simple moving average.
\nThere is a key bullish trend line forming with support near $29,250 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could face a strong resistance near the $29,600 resistance.<\/p>\n

Bitcoin Price Still In The Negative Zone<\/h2>\n

Bitcoin price started a short-term recovery wave above the $29,000 resistance zone<\/a>. BTC was able to climb above the $29,200 resistance zone after the Fed interest rate decision.<\/p>\n

There was a move above the 23.6% Fib retracement level of the key drop from the $30,335 swing high to the $28,880 low. However, the bears were active near the $29,600 resistance zone and there was no close above the 100 hourly Simple moving average.<\/p>\n

Bitcoin is now trading below $29,200 and the 100 hourly Simple moving average<\/a>. Besides, there is a key bullish trend line forming with support near $29,250 on the hourly chart of the BTC\/USD pair.<\/p>\n

Immediate resistance is near the $29,450 level and the 100 hourly Simple moving average. The first major resistance is near the $29,600 level. It is near the 50% Fib retracement level of the key drop from the $30,335 swing high to the $28,880 low.<\/p>\n\n

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

The next major resistance is near the $29,800 level, above which the price might start a decent increase toward the $30,000 resistance zone. The next major resistance is near the $30,350 level, above which the price could gain bullish momentum.<\/p>\n

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

If Bitcoin fails to clear the $29,600 resistance, it could start a fresh decline. Immediate support on the downside is near the $29,200 level and the trend line.<\/p>\n

The next major support is near the $29,000 level, below which the price could drop toward $28,880. The next support is near the $28,500 level. Any more losses might call for a move toward the $28,200 level in the near term.<\/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 now above the 50 level.<\/p>\n

Major Support Levels \u2013 $29,200, followed by $29,000.<\/p>\n

Major Resistance Levels \u2013 $29,400, $29,600, and $30,000.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price is struggling to recover above the $29,000 resistance level. BTC must settle above $29,000 and then $29,600 to move into a positive zone.<\/em><\/p>\n

Bitcoin is attempting a recovery wave above the $28,850 level.
\nThe price is trading below $29,200 and the 100 hourly Simple moving average.
\nThere is a key bullish trend line forming with support near $29,250 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could face a strong resistance near the $29,600 resistance.<\/p>\n

Bitcoin Price Still In The Negative Zone<\/h2>\n

Bitcoin price started a short-term recovery wave above the $29,000 resistance zone<\/a>. BTC was able to climb above the $29,200 resistance zone after the Fed interest rate decision.<\/p>\n

There was a move above the 23.6% Fib retracement level of the key drop from the $30,335 swing high to the $28,880 low. However, the bears were active near the $29,600 resistance zone and there was no close above the 100 hourly Simple moving average.<\/p>\n

Bitcoin is now trading below $29,200 and the 100 hourly Simple moving average<\/a>. Besides, there is a key bullish trend line forming with support near $29,250 on the hourly chart of the BTC\/USD pair.<\/p>\n

Immediate resistance is near the $29,450 level and the 100 hourly Simple moving average. The first major resistance is near the $29,600 level. It is near the 50% Fib retracement level of the key drop from the $30,335 swing high to the $28,880 low.<\/p>\n

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

The next major resistance is near the $29,800 level, above which the price might start a decent increase toward the $30,000 resistance zone. The next major resistance is near the $30,350 level, above which the price could gain bullish momentum.<\/p>\n

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

If Bitcoin fails to clear the $29,600 resistance, it could start a fresh decline. Immediate support on the downside is near the $29,200 level and the trend line.<\/p>\n

The next major support is near the $29,000 level, below which the price could drop toward $28,880. The next support is near the $28,500 level. Any more losses might call for a move toward the $28,200 level in the near term.<\/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 now above the 50 level.<\/p>\n

Major Support Levels \u2013 $29,200, followed by $29,000.<\/p>\n

Major Resistance Levels \u2013 $29,400, $29,600, and $30,000.<\/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-27350","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\/27350","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=27350"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/27350\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=27350"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=27350"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=27350"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}