{"id":32249,"date":"2023-11-10T03:52:47","date_gmt":"2023-11-10T07:52:47","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=32249"},"modified":"2023-11-10T03:52:47","modified_gmt":"2023-11-10T07:52:47","slug":"bitcoin-price-bullish-streak-takes-a-break-but-bulls-are-not-done-yet","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/11\/10\/bitcoin-price-bullish-streak-takes-a-break-but-bulls-are-not-done-yet\/","title":{"rendered":"Bitcoin Price Bullish Streak Takes A Break But Bulls Are Not Done Yet"},"content":{"rendered":"

Bitcoin price rallied further above the $37,200 resistance zone. BTC is now consolidating and might aim for more upsides above the $37,600 resistance zone.<\/em><\/p>\n

Bitcoin started a strong increase above the $37,200 resistance zone.
\nThe price is trading above $36,200 and the 100 hourly Simple moving average.
\nThere is a major bullish trend line forming with support near $36,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair is consolidating gains and might continue to rise toward $38,000.<\/p>\n

Bitcoin Price Remains Strong<\/h2>\n

Bitcoin price started a fresh increase above the $36,500 resistance zone<\/a>. BTC gained pace for a clear move above the $37,200 resistance zone and rallied over 5%.<\/p>\n

A new multi-week high was formed near $37,971 before there was a downside correction. There was a move below the $37,000 level. The price spiked below the 50% Fib retracement level of the upward move from the $35,100 swing low to the $37,971 high.<\/p>\n

Bitcoin is now trading above $36,200 and the 100 hourly Simple moving average<\/a>. There is also a major bullish trend line forming with support near $36,200 on the hourly chart of the BTC\/USD pair.<\/p>\n

The pair is also holding the 61.8% Fib retracement level of the upward move from the $35,100 swing low to the $37,971 high. It is now consolidating near the $36,750 level and is now attempting a fresh increase. On the upside, immediate resistance is near the $37,000 level.<\/p>\n

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

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

The next key resistance could be near $37,300, above which the price might accelerate further higher. In the stated case, it could test the $37,800 level. Any more gains might send BTC toward the $38,000 level.<\/p>\n

Buy Dips In BTC?<\/h2>\n

If Bitcoin fails to rise above the $37,000 resistance zone, it could start a downside correction. Immediate support on the downside is near the $36,500 level.<\/p>\n

The next major support is near the $36,200 zone or the trend line. If there is a move below $36,200, there is a risk of more downsides. In the stated case, the price could drop toward the key support at $35,500 in the near term.<\/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 $36,500, followed by $36,200.<\/p>\n

Major Resistance Levels \u2013 $37,000, $37,300, and $38,000.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price rallied further above the $37,200 resistance zone. BTC is now consolidating and might aim for more upsides above the $37,600 resistance zone.<\/em><\/p>\n

Bitcoin started a strong increase above the $37,200 resistance zone.
\nThe price is trading above $36,200 and the 100 hourly Simple moving average.
\nThere is a major bullish trend line forming with support near $36,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair is consolidating gains and might continue to rise toward $38,000.<\/p>\n

Bitcoin Price Remains Strong<\/h2>\n

Bitcoin price started a fresh increase above the $36,500 resistance zone<\/a>. BTC gained pace for a clear move above the $37,200 resistance zone and rallied over 5%.<\/p>\n

A new multi-week high was formed near $37,971 before there was a downside correction. There was a move below the $37,000 level. The price spiked below the 50% Fib retracement level of the upward move from the $35,100 swing low to the $37,971 high.<\/p>\n

Bitcoin is now trading above $36,200 and the 100 hourly Simple moving average<\/a>. There is also a major bullish trend line forming with support near $36,200 on the hourly chart of the BTC\/USD pair.<\/p>\n

The pair is also holding the 61.8% Fib retracement level of the upward move from the $35,100 swing low to the $37,971 high. It is now consolidating near the $36,750 level and is now attempting a fresh increase. On the upside, immediate resistance is near the $37,000 level.<\/p>\n

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

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

The next key resistance could be near $37,300, above which the price might accelerate further higher. In the stated case, it could test the $37,800 level. Any more gains might send BTC toward the $38,000 level.<\/p>\n

Buy Dips In BTC?<\/h2>\n

If Bitcoin fails to rise above the $37,000 resistance zone, it could start a downside correction. Immediate support on the downside is near the $36,500 level.<\/p>\n

The next major support is near the $36,200 zone or the trend line. If there is a move below $36,200, there is a risk of more downsides. In the stated case, the price could drop toward the key support at $35,500 in the near term.<\/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 $36,500, followed by $36,200.<\/p>\n

Major Resistance Levels \u2013 $37,000, $37,300, and $38,000.<\/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-32249","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\/32249","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=32249"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/32249\/revisions"}],"predecessor-version":[{"id":32260,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/32249\/revisions\/32260"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=32249"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=32249"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=32249"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}