{"id":32375,"date":"2023-11-13T04:52:36","date_gmt":"2023-11-13T08:52:36","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=32375"},"modified":"2023-11-13T04:52:36","modified_gmt":"2023-11-13T08:52:36","slug":"bitcoin-price-consolidates-and-signals-potential-surge-to-40000","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/11\/13\/bitcoin-price-consolidates-and-signals-potential-surge-to-40000\/","title":{"rendered":"Bitcoin Price Consolidates And Signals Potential Surge To $40,000"},"content":{"rendered":"

Bitcoin price is correcting gains from the $38,000 zone. BTC is now consolidating and might aim for more upsides above the $37,250 resistance zone.<\/em><\/p>\n

Bitcoin started a downside correction from the $38,000 resistance zone.
\nThe price is trading near $37,000 and the 100 hourly Simple moving average.
\nThere is a short-term declining channel forming with resistance near $37,250 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair is consolidating gains and might start a fresh increase toward $38,000.<\/p>\n

Bitcoin Price Remains In Uptrend<\/h2>\n

Bitcoin price started a fresh increase above the $36,800 resistance zone<\/a>. BTC gained pace for a clear move above the $37,000 resistance zone to move further into a positive zone.<\/p>\n

It even rallied toward $38,000 before there was a downside correction to $35,850. Recently, there was a fresh increase above the $37,250 level, but the bears were active near $37,500. A high is formed near $37,500 and the price is now consolidating gains.<\/p>\n

There was a drop below the $37,250 level. The price tested the 50% Fib retracement level of the upward move from the $35,891 swing low to the $37,500 high.<\/p>\n

Bitcoin is now trading near $37,000 and the 100 hourly Simple moving average<\/a>. On the upside, immediate resistance is near the $37,200 level. There is also a short-term declining channel forming with resistance near $37,250 on the hourly chart of the BTC\/USD pair.<\/p>\n

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

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

The next key resistance could be near $37,500, above which the price might accelerate further higher. In the stated case, it could test the $38,000 level. Any more gains might send BTC toward the $38,800 level.<\/p>\n

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

If Bitcoin fails to rise above the $37,250 resistance zone, it could continue to move down. Immediate support on the downside is near the $36,700 level.<\/p>\n

The next major support is near the $36,500 zone or the 61.8% Fib retracement level of the upward move from the $35,891 swing low to the $37,500 high. If there is a move below $36,500, there is a risk of more downsides. In the stated case, the price could drop toward the key support at $36,000 in the near term.<\/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 below the 50 level.<\/p>\n

Major Support Levels \u2013 $36,700, followed by $36,500.<\/p>\n

Major Resistance Levels \u2013 $37,250, $37,500, and $38,000.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price is correcting gains from the $38,000 zone. BTC is now consolidating and might aim for more upsides above the $37,250 resistance zone.<\/em><\/p>\n

Bitcoin started a downside correction from the $38,000 resistance zone.
\nThe price is trading near $37,000 and the 100 hourly Simple moving average.
\nThere is a short-term declining channel forming with resistance near $37,250 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair is consolidating gains and might start a fresh increase toward $38,000.<\/p>\n

Bitcoin Price Remains In Uptrend<\/h2>\n

Bitcoin price started a fresh increase above the $36,800 resistance zone<\/a>. BTC gained pace for a clear move above the $37,000 resistance zone to move further into a positive zone.<\/p>\n

It even rallied toward $38,000 before there was a downside correction to $35,850. Recently, there was a fresh increase above the $37,250 level, but the bears were active near $37,500. A high is formed near $37,500 and the price is now consolidating gains.<\/p>\n

There was a drop below the $37,250 level. The price tested the 50% Fib retracement level of the upward move from the $35,891 swing low to the $37,500 high.<\/p>\n

Bitcoin is now trading near $37,000 and the 100 hourly Simple moving average<\/a>. On the upside, immediate resistance is near the $37,200 level. There is also a short-term declining channel forming with resistance near $37,250 on the hourly chart of the BTC\/USD pair.<\/p>\n

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

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

The next key resistance could be near $37,500, above which the price might accelerate further higher. In the stated case, it could test the $38,000 level. Any more gains might send BTC toward the $38,800 level.<\/p>\n

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

If Bitcoin fails to rise above the $37,250 resistance zone, it could continue to move down. Immediate support on the downside is near the $36,700 level.<\/p>\n

The next major support is near the $36,500 zone or the 61.8% Fib retracement level of the upward move from the $35,891 swing low to the $37,500 high. If there is a move below $36,500, there is a risk of more downsides. In the stated case, the price could drop toward the key support at $36,000 in the near term.<\/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 below the 50 level.<\/p>\n

Major Support Levels \u2013 $36,700, followed by $36,500.<\/p>\n

Major Resistance Levels \u2013 $37,250, $37,500, 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-32375","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\/32375","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=32375"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/32375\/revisions"}],"predecessor-version":[{"id":32386,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/32375\/revisions\/32386"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=32375"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=32375"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=32375"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}