{"id":31107,"date":"2023-10-18T03:52:39","date_gmt":"2023-10-18T07:52:39","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=31107"},"modified":"2023-10-18T03:52:39","modified_gmt":"2023-10-18T07:52:39","slug":"bitcoin-price-is-about-to-see-liftoff-if-its-able-to-hold-one-crucial-level","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/10\/18\/bitcoin-price-is-about-to-see-liftoff-if-its-able-to-hold-one-crucial-level\/","title":{"rendered":"Bitcoin Price is About to See \u201cLiftoff\u201d if It\u2019s Able to Hold One Crucial Level"},"content":{"rendered":"

Bitcoin price is consolidating above the $28,000 support. BTC could gain bullish momentum if it clears the $28,550 resistance zone.<\/em><\/p>\n

Bitcoin started a consolidation phase below the $28,500 level.
\nThe price is trading above $27,800 and the 100 hourly Simple moving average.
\nThere is a short-term contracting triangle forming with resistance near $28,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a fresh increase if there is a clear move above the $28,550 resistance.<\/p>\n

Bitcoin Price Aims Fresh Increase<\/h2>\n

Bitcoin price retreated and trimmed gains from the $30,000 resistance zone<\/a>. BTC traded below the $29,200 and $28,800 levels to move back into a short-term negative zone.<\/p>\n

However, the bulls were active near the $28,000 zone. A low was formed near $28,100 and the price started a consolidation phase. There was a move above the $28,250 level. The price tested the 23.6% Fib retracement level of the downward move from the $30,000 swing high to the $28,100 low.<\/p>\n

Bitcoin price is now trading above $28,000 and the 100 hourly Simple moving average<\/a>. On the upside, immediate resistance is near the $28,550 level. There is also a short-term contracting triangle forming with resistance near $28,500 on the hourly chart of the BTC\/USD pair.<\/p>\n

The next key resistance could be near $29,000 or the 50% Fib retracement level of the downward move from the $30,000 swing high to the $28,100 low. A clear move above the $29,000 resistance zone could set the pace for a larger increase. The next key resistance could be $29,500.<\/p>\n

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

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

If the bulls remain in action, the next stop above $29,500 could be $30,000. Any more gains might send BTC toward the $30,650 level.<\/p>\n

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

If Bitcoin fails to rise above the $28,550 resistance zone, it could slide further. Immediate support on the downside is near the $28,350 level and the triangle region.<\/p>\n

The next major support is near the $28,000 level. A downside break and close below the $28,000 support might send the price further lower. The next support sits at $27,600 and the 100 hourly Simple moving average.<\/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 $28,350, followed by $28,000.<\/p>\n

Major Resistance Levels \u2013 $28,550, $29,000, and $29,500.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price is consolidating above the $28,000 support. BTC could gain bullish momentum if it clears the $28,550 resistance zone.<\/em><\/p>\n

Bitcoin started a consolidation phase below the $28,500 level.
\nThe price is trading above $27,800 and the 100 hourly Simple moving average.
\nThere is a short-term contracting triangle forming with resistance near $28,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a fresh increase if there is a clear move above the $28,550 resistance.<\/p>\n

Bitcoin Price Aims Fresh Increase<\/h2>\n

Bitcoin price retreated and trimmed gains from the $30,000 resistance zone<\/a>. BTC traded below the $29,200 and $28,800 levels to move back into a short-term negative zone.<\/p>\n

However, the bulls were active near the $28,000 zone. A low was formed near $28,100 and the price started a consolidation phase. There was a move above the $28,250 level. The price tested the 23.6% Fib retracement level of the downward move from the $30,000 swing high to the $28,100 low.<\/p>\n

Bitcoin price is now trading above $28,000 and the 100 hourly Simple moving average<\/a>. On the upside, immediate resistance is near the $28,550 level. There is also a short-term contracting triangle forming with resistance near $28,500 on the hourly chart of the BTC\/USD pair.<\/p>\n

The next key resistance could be near $29,000 or the 50% Fib retracement level of the downward move from the $30,000 swing high to the $28,100 low. A clear move above the $29,000 resistance zone could set the pace for a larger increase. The next key resistance could be $29,500.<\/p>\n

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

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

If the bulls remain in action, the next stop above $29,500 could be $30,000. Any more gains might send BTC toward the $30,650 level.<\/p>\n

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

If Bitcoin fails to rise above the $28,550 resistance zone, it could slide further. Immediate support on the downside is near the $28,350 level and the triangle region.<\/p>\n

The next major support is near the $28,000 level. A downside break and close below the $28,000 support might send the price further lower. The next support sits at $27,600 and the 100 hourly Simple moving average.<\/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 $28,350, followed by $28,000.<\/p>\n

Major Resistance Levels \u2013 $28,550, $29,000, and $29,500.<\/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-31107","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\/31107","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=31107"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/31107\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=31107"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=31107"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=31107"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}