Bitcoin Price Could Restart Increase But Can Bulls Send BTC To $30K?

2023-10-9 06:20

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.

Bitcoin is holding gains and showing positive signs above the $27,450 zone. The price is trading above $27,800 and the 100 hourly Simple moving average. There 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). The pair could soon revisit the $28,500 resistance zone in the near term. Bitcoin Price Aims Higher

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.

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.

Bitcoin is now trading above $27,800 and the 100 hourly Simple moving average. 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.

Source: BTCUSD on TradingView.com

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.

Another Rejection In BTC?

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.

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.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $27,800, followed by $27,200.

Major Resistance Levels – $28,000, $28,500, and $29,200.

origin »

Bitcoin price in Telegram @btc_price_every_hour

Bitcoin (BTC) на Currencies.ru

$ 64394.26 (+0.01%)
Объем 24H $15.125b
Изменеия 24h: -0.14 %, 7d: 0.42 %
Cегодня L: $64301.78 - H: $64864.39
Капитализация $1291.661b Rank 1
Цена в час новости $ 27777.83 (131.82%)

increase bitcoin 500 zone resistance btc could

Источник: newsbtc.com

increase bitcoin → Результатов: 126


Gominer ICO

Gominer Token is a Peer-to-Peer token that has a sophisticated level of security for a multi-functional digital currency and for all future use expansion. The token is created to help our user to interact and expand the way of their earning in Cloud mining.

2019-7-28 17:33


Crypto Market Leaders Differ on Pace of Inst Adoption. Who’s Right?

Bitcoin is in the midst of a tremendous run that saw the crypto rise from $3,693.85 in January 2019 to as high as $13,880 in June. That’s an increase of over 275 percent in just six months. Many investors assume that institutional money has finally arrived and these big financial firms are the ones powering […] The post Crypto Market Leaders Differ on Pace of Inst Adoption. Who’s Right? appeared first on CCN Markets

2019-7-23 01:00


MyCrypto’s CryptoScamDB Shows Nearly 7,000 Crypto Scam Sites Exist In The World Today

CryptoScamDB is a database that currently houses records of 6500+ known scams across Ethereum, Bitcoin, XRP, NEO, and many more chains. They were originally known as EtherScamDB. Currently, their data shows that there are over 6,800 scams and there has been a sharp increase since the beginning of the year. Phishing; fraud; theft; hacking all […]

2019-7-20 19:34


CFTC Records Growing Bitcoin Futures Demand As Bakkt Launch Draws Near

At long last, Intercontinental Exchange’s Bitcoin Futures trading platform Bakkt is to do a test launch on Monday 22 July 2019. Following an institutional summit hosted by Bakkt at the New York Stock Exchange during which the launch was revealed, Fundstrat reported that the Commodity Futures Trading Commission (CFTC) is already recording a massive increase […] The post CFTC Records Growing Bitcoin Futures Demand As Bakkt Launch Draws Near appeared first on ZyCrypto.

2019-7-20 16:04


CoinGecko 2019 Q2 Report; Bitcoin Price Dominates With 165% Gains Helping Total Market Cap Jump 125%

CoinGecko, a recognized crypto aggregator of news and information, published its new Q2 report for 2019. In this new release, they provide information about many different topics, including the cryptocurrency market, the price increase experienced by virtual currencies and the performance of crypto exchanges.

2019-7-19 00:01


Market Update: Bulls struggle to push Bitcoin towards $11k. Here’s What to Expect Next

The week has been a rough one for Bitcoin which is now set out on a recovery path. After Trump’s comment on Bitcoin, the massive publicity it gained did not do any noteworthy increase to price as reflected in the cryptocurrency market, however, the bulls have stepped in and Bitcoin is bent on making a […] The post Market Update: Bulls struggle to push Bitcoin towards $11k. Here’s What to Expect Next appeared first on ZyCrypto.

2019-7-16 11:16


Ethereum rules the roost in terms of loans issued; figures cross $150 million mark in Q2 of 2019

The use case of cryptocurrencies has been the claim to fame for the industry and some parameters are already reflecting that ideology. Major digital assets like Bitcoin and Ethereum have been in the news multiple times this year, not just because of their price hikes and an increase in market caps, but also for the […] The post Ethereum rules the roost in terms of loans issued; figures cross $150 million mark in Q2 of 2019 appeared first on AMBCrypto.

2019-7-13 16:00


Bulls Regain Territory; Bitcoin Bounces Back Above $12,600

The market is making a correction and trading prices are pumping up by the seconds. Bitcoin amongst many others have attained gains as this correction was an advantageous one as anticipated. Between the last 12hrs, the bulls have stepped in with more than 10% increase in trading volume, which quickly led to a breakout in […] The post Bulls Regain Territory; Bitcoin Bounces Back Above $12,600 appeared first on ZyCrypto.

2019-7-9 13:00


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru