{"id":31309,"date":"2023-10-23T03:52:36","date_gmt":"2023-10-23T07:52:36","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=31309"},"modified":"2023-10-23T03:52:36","modified_gmt":"2023-10-23T07:52:36","slug":"bitcoin-price-hold-strong-at-30k-indicators-point-more-upsides-to-31-2k","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/10\/23\/bitcoin-price-hold-strong-at-30k-indicators-point-more-upsides-to-31-2k\/","title":{"rendered":"Bitcoin Price Hold Strong At $30K: Indicators Point More Upsides To $31.2K"},"content":{"rendered":"

Bitcoin price is gaining pace above the $30,000 resistance. BTC is showing positive signs and might rally further above toward the $31,200 level.<\/em><\/p>\n

Bitcoin started a fresh increase above the $28,500 and $28,800 resistance levels.
\nThe price is trading above $30,000 and the 100 hourly Simple moving average.
\nThere is a key bullish trend line forming with support near $30,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could continue to rise toward the $31,200 resistance level.<\/p>\n

Bitcoin Price Regains Strength<\/h2>\n

Bitcoin price formed a support base above the $27,500 level<\/a>. BTC started a steady increase and cleared a few hurdles near the $28,500 resistance zone.<\/p>\n

The bulls gained strength and managed to push the price above the main $30,000 resistance zone. A new multi-week high is formed near $30,600 and the price is now consolidating gains. There was a minor decline below the 23.6% Fib retracement level of the upward move from the $29,715 swing low to the $30,600 high.<\/p>\n

Bitcoin is now trading above $30,000 and the 100 hourly Simple moving average<\/a>. There is also a key bullish trend line forming with support near $30,000 on the hourly chart of the BTC\/USD pair. The trend line is near the 61.8% Fib retracement level of the upward move from the $29,715 swing low to the $30,600 high.<\/p>\n

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

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

On the upside, immediate resistance is near the $30,400 level. The next key resistance could be near $30,600. A clear move above the recent high might send the price toward the $31,200 resistance. The next key resistance could be $32,000. Any more gains might send BTC toward the $33,200 level in the coming sessions.<\/p>\n

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

If Bitcoin fails to rise above the $30,600 resistance zone, it could start a downside correction. Immediate support on the downside is near the $30,150 level.<\/p>\n

The next major support is near the $30,000 level and the trend line. If there is a move below the trend line support, the price may perhaps decline toward the $29,500 level or the 100 hourly Simple moving average.<\/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 $30,150, followed by $30,000.<\/p>\n

Major Resistance Levels \u2013 $30,400, $30,600, and $31,200.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price is gaining pace above the $30,000 resistance. BTC is showing positive signs and might rally further above toward the $31,200 level.<\/em><\/p>\n

Bitcoin started a fresh increase above the $28,500 and $28,800 resistance levels.
\nThe price is trading above $30,000 and the 100 hourly Simple moving average.
\nThere is a key bullish trend line forming with support near $30,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could continue to rise toward the $31,200 resistance level.<\/p>\n

Bitcoin Price Regains Strength<\/h2>\n

Bitcoin price formed a support base above the $27,500 level<\/a>. BTC started a steady increase and cleared a few hurdles near the $28,500 resistance zone.<\/p>\n

The bulls gained strength and managed to push the price above the main $30,000 resistance zone. A new multi-week high is formed near $30,600 and the price is now consolidating gains. There was a minor decline below the 23.6% Fib retracement level of the upward move from the $29,715 swing low to the $30,600 high.<\/p>\n

Bitcoin is now trading above $30,000 and the 100 hourly Simple moving average<\/a>. There is also a key bullish trend line forming with support near $30,000 on the hourly chart of the BTC\/USD pair. The trend line is near the 61.8% Fib retracement level of the upward move from the $29,715 swing low to the $30,600 high.<\/p>\n

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

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

On the upside, immediate resistance is near the $30,400 level. The next key resistance could be near $30,600. A clear move above the recent high might send the price toward the $31,200 resistance. The next key resistance could be $32,000. Any more gains might send BTC toward the $33,200 level in the coming sessions.<\/p>\n

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

If Bitcoin fails to rise above the $30,600 resistance zone, it could start a downside correction. Immediate support on the downside is near the $30,150 level.<\/p>\n

The next major support is near the $30,000 level and the trend line. If there is a move below the trend line support, the price may perhaps decline toward the $29,500 level or the 100 hourly Simple moving average.<\/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 $30,150, followed by $30,000.<\/p>\n

Major Resistance Levels \u2013 $30,400, $30,600, and $31,200.<\/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-31309","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\/31309","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=31309"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/31309\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=31309"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=31309"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=31309"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}