{"id":30693,"date":"2023-10-09T03:52:59","date_gmt":"2023-10-09T07:52:59","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=30693"},"modified":"2023-10-09T03:52:59","modified_gmt":"2023-10-09T07:52:59","slug":"bitcoin-price-could-restart-increase-but-can-bulls-send-btc-to-30k","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/10\/09\/bitcoin-price-could-restart-increase-but-can-bulls-send-btc-to-30k\/","title":{"rendered":"Bitcoin Price Could Restart Increase But Can Bulls Send BTC To $30K?"},"content":{"rendered":"

Bitcoin price is eyeing a fresh increase toward the $28,500 resistance. BTC could start a strong increase if it clears the $28,500 resistance zone.<\/em><\/p>\n

Bitcoin is holding gains and showing positive signs above the $27,450 zone.
\nThe price is trading above $27,800 and the 100 hourly Simple moving average.
\nThere is a short-term declining channel forming with resistance near $27,980 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could soon revisit the $28,500 resistance zone in the near term.<\/p>\n

Bitcoin Price Aims Higher<\/h2>\n

Bitcoin price started a downside correction after it failed to clear the $28,500 resistance zone. BTC declined below the $28,000 level and tested the $27,200 support zone<\/a>.<\/p>\n

The recent low was formed near $27,185 and the price is again rising. There was a move above the $27,400 and $27,500 resistance levels. A high is formed near $28,284 and the price is now consolidating gains below the 23.6% Fib retracement level of the recent increase from the $27,185 swing low to the $28,284 high.<\/p>\n

Bitcoin is now trading above $27,800 and the 100 hourly Simple moving average<\/a>. The price is now testing the $28,000 resistance zone. There is also a short-term declining channel forming with resistance near $27,980 on the hourly chart of the BTC\/USD pair.<\/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 $28,500 level. A close above the $28,500 resistance could start another increase. In the stated case, the price could rise toward the $29,200 resistance. Any more gains might call for a move toward the $30,000 level.<\/p>\n

Another Rejection In BTC?<\/h2>\n

If Bitcoin fails to continue higher above the $28,000 resistance, there could be a fresh decline. Immediate support on the downside is near the $27,800 level and the 100 hourly Simple moving average.<\/p>\n

The next major support is near the $27,4500 level. The main support is now forming near the $27,200 level. A downside break and close below the $27,200 level might push the price further lower toward $26,650 in the near term. The next support sits at $26,200.<\/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 $27,800, followed by $27,200.<\/p>\n

Major Resistance Levels \u2013 $28,000, $28,500, and $29,200.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price is eyeing a fresh increase toward the $28,500 resistance. BTC could start a strong increase if it clears the $28,500 resistance zone.<\/em><\/p>\n

Bitcoin is holding gains and showing positive signs above the $27,450 zone.
\nThe price is trading above $27,800 and the 100 hourly Simple moving average.
\nThere is a short-term declining channel forming with resistance near $27,980 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could soon revisit the $28,500 resistance zone in the near term.<\/p>\n

Bitcoin Price Aims Higher<\/h2>\n

Bitcoin price started a downside correction after it failed to clear the $28,500 resistance zone. BTC declined below the $28,000 level and tested the $27,200 support zone<\/a>.<\/p>\n

The recent low was formed near $27,185 and the price is again rising. There was a move above the $27,400 and $27,500 resistance levels. A high is formed near $28,284 and the price is now consolidating gains below the 23.6% Fib retracement level of the recent increase from the $27,185 swing low to the $28,284 high.<\/p>\n

Bitcoin is now trading above $27,800 and the 100 hourly Simple moving average<\/a>. The price is now testing the $28,000 resistance zone. There is also a short-term declining channel forming with resistance near $27,980 on the hourly chart of the BTC\/USD pair.<\/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 $28,500 level. A close above the $28,500 resistance could start another increase. In the stated case, the price could rise toward the $29,200 resistance. Any more gains might call for a move toward the $30,000 level.<\/p>\n

Another Rejection In BTC?<\/h2>\n

If Bitcoin fails to continue higher above the $28,000 resistance, there could be a fresh decline. Immediate support on the downside is near the $27,800 level and the 100 hourly Simple moving average.<\/p>\n

The next major support is near the $27,4500 level. The main support is now forming near the $27,200 level. A downside break and close below the $27,200 level might push the price further lower toward $26,650 in the near term. The next support sits at $26,200.<\/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 $27,800, followed by $27,200.<\/p>\n

Major Resistance Levels \u2013 $28,000, $28,500, and $29,200.<\/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-30693","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\/30693","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=30693"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/30693\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=30693"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=30693"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=30693"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}