{"id":30378,"date":"2023-10-02T03:53:34","date_gmt":"2023-10-02T07:53:34","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=30378"},"modified":"2023-10-02T03:53:34","modified_gmt":"2023-10-02T07:53:34","slug":"bitcoin-bulls-aim-big-after-recent-surge-to-28k","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/10\/02\/bitcoin-bulls-aim-big-after-recent-surge-to-28k\/","title":{"rendered":"Bitcoin Bulls Aim Big After Recent Surge To $28K"},"content":{"rendered":"

Bitcoin price rallied above the $27,500 resistance. BTC is consolidating near $28,000 and might start a minor downside correction in the near term.<\/em><\/p>\n

Bitcoin gained pace above the $27,200 and $27,500 resistance levels.
\nThe price is trading above $27,500 and the 100 hourly Simple moving average.
\nThere is a key bullish trend line forming with support near $27,350 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair is signaling more gains above $28,000 after a mild downside correction.<\/p>\n

Bitcoin Price Rallies To $28K<\/h2>\n

Bitcoin price started a decent increase above the $27,000 resistance zone<\/a>. BTC gained pace for a move above the $27,200 and $27,500 resistance levels.<\/p>\n

The upward move was such that the price even tested the $28,000 resistance. A high is formed near $28,087 and the price is now consolidating gains. It is trading well above the 23.6% Fib retracement level of the upward move from the $26,692 swing low to the $28,087 high.<\/p>\n

Bitcoin is trading above $27,500 and the 100 hourly Simple moving average<\/a>. There is also a key bullish trend line forming with support near $27,350 on the hourly chart of the BTC\/USD pair. The trend line is near the 50% Fib retracement level of the upward move from the $26,692 swing low to the $28,087 high.<\/p>\n

<\/a><\/p>\n

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

Immediate resistance on the upside is near the $28,000 level. The next key resistance could be near the $28,200 level. A close above the $28,200 resistance could send the price further higher. In the stated case, the price could climb toward the $28,800 resistance. Any more gains might call for a move toward the $29,500 level.<\/p>\n

Are Dips Supported In BTC?<\/h2>\n

If Bitcoin fails to continue higher above the $28,000 resistance, there could be a downside correction. Immediate support on the downside is near the $27,750 level.<\/p>\n

The next major support is near the $27,350 level or and the trend line. A downside break and close below the $27,350 level might send the price toward $27,000. The next support sits at $26,750. Any more losses might call for a test of $26,200.<\/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 $27,750, followed by $27,350.<\/p>\n

Major Resistance Levels \u2013 $28,000, $28,200, and $28,800.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price rallied above the $27,500 resistance. BTC is consolidating near $28,000 and might start a minor downside correction in the near term.<\/em><\/p>\n

Bitcoin gained pace above the $27,200 and $27,500 resistance levels.
\nThe price is trading above $27,500 and the 100 hourly Simple moving average.
\nThere is a key bullish trend line forming with support near $27,350 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair is signaling more gains above $28,000 after a mild downside correction.<\/p>\n

Bitcoin Price Rallies To $28K<\/h2>\n

Bitcoin price started a decent increase above the $27,000 resistance zone<\/a>. BTC gained pace for a move above the $27,200 and $27,500 resistance levels.<\/p>\n

The upward move was such that the price even tested the $28,000 resistance. A high is formed near $28,087 and the price is now consolidating gains. It is trading well above the 23.6% Fib retracement level of the upward move from the $26,692 swing low to the $28,087 high.<\/p>\n

Bitcoin is trading above $27,500 and the 100 hourly Simple moving average<\/a>. There is also a key bullish trend line forming with support near $27,350 on the hourly chart of the BTC\/USD pair. The trend line is near the 50% Fib retracement level of the upward move from the $26,692 swing low to the $28,087 high.<\/p>\n

<\/a><\/p>\n

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

Immediate resistance on the upside is near the $28,000 level. The next key resistance could be near the $28,200 level. A close above the $28,200 resistance could send the price further higher. In the stated case, the price could climb toward the $28,800 resistance. Any more gains might call for a move toward the $29,500 level.<\/p>\n

Are Dips Supported In BTC?<\/h2>\n

If Bitcoin fails to continue higher above the $28,000 resistance, there could be a downside correction. Immediate support on the downside is near the $27,750 level.<\/p>\n

The next major support is near the $27,350 level or and the trend line. A downside break and close below the $27,350 level might send the price toward $27,000. The next support sits at $26,750. Any more losses might call for a test of $26,200.<\/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 $27,750, followed by $27,350.<\/p>\n

Major Resistance Levels \u2013 $28,000, $28,200, and $28,800.<\/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-30378","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\/30378","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=30378"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/30378\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=30378"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=30378"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=30378"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}