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{"id":453103,"date":"2020-12-27T04:48:46","date_gmt":"2020-12-27T04:48:46","guid":{"rendered":"https:\/\/ktsl888.com\/?p=453103"},"modified":"2024-06-11T14:12:18","modified_gmt":"2024-06-11T14:12:18","slug":"bitcoin-reaches-27k-why-btc-could-hit-30k-before-new-year","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-reaches-27k-why-btc-could-hit-30k-before-new-year\/","title":{"rendered":"Bitcoin Reaches $27K, Why BTC Could Hit $30K Before New Year"},"content":{"rendered":"

Bitcoin price started another increase and broke the $25,000 resistance against the US Dollar. BTC is gaining momentum and it could even visit $30,000 in the coming sessions.<\/em><\/p>\n

\n
Bitcoin is up 7%, broke the $25,000 barrier, and it almost tested the $27,000 level.<\/li>\n
The price is now correcting lower, but it remains well supported above $25K and the 100 simple moving average (4-hours).<\/li>\n
There is a key bullish trend line forming with support near $25,400 on the 4-hours chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair is likely to continue higher towards the $28,500 and $30,000 levels in the near term.<\/li>\n<\/ul>\n
Bitcoin Price Sets New ATH<\/h2>\n
In the past few days, there was a steady increase in bitcoin price above the $24,500 resistance against the US Dollar. The BTC\/USD pair broke many hurdles near $25,000 and $25,500 to continue higher.<\/p>\n
It is now up over 7% and it is now trading well above $26,000. A new all-time high was formed near $27,000 and the price is currently consolidating gains. An initial support on the downside is near the $26,400 level. It is close to the 23.6% Fib retracement level of the recent increase from the $24,532 swing low to $26,991 high.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
The first major support on the downside is near the $25,8000 level. There is also a key bullish trend line forming with support near $25,400 on the 4-hours chart of the BTC\/USD pair.<\/p>\n
The 50% Fib retracement level of the recent increase from the $24,532 swing low to $26,991 high is also near the trend line zone. On the upside, the $27,000 level is an initial resistance zone. A clear break above the $27,000 zone could open the doors for a push towards $28,000 and $28,800 levels. Any more upsides might set the pace for a test of the key $30,000 level.<\/p>\n
Dips Supported in BTC?<\/h2>\n
If there is a decent downside correction, bitcoin price might find bids near the $25,800 and $25,500 levels. The next major support on the downside is near the $25,000 level.<\/p>\n
The first major support is near the 24,200 level (the last key breakout zone). Any more losses may possibly lead the price back towards the $22,000 support zone.<\/p>\n
Technical indicators<\/p>\n
4 hours MACD \u2013 The MACD for BTC\/USD is gaining momentum in the bullish zone.<\/p>\n
4 hours RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now well above the 70 level.<\/p>\n
Major Support Level \u2013 $25,000<\/p>\n
Major Resistance Level \u2013 $28,000<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price started another increase and broke the $25,000 resistance against the US Dollar. BTC is gaining momentum and it could even visit $30,000 in the coming sessions. Bitcoin is up 7%, broke the $25,000 barrier, and it almost tested the $27,000 level. The price is now correcting lower, but it remains well supported above $25K and the 100 simple moving average (4-hours). There is a key bullish trend line forming with support near $25,400 on the 4-hours chart of the BTC\/USD pair (data feed from Kraken). The pair is likely to continue higher towards the $28,500 and $30,000 levels in the near term. Bitcoin Price Sets New ATH In the past few days, there was a steady increase in bitcoin price above the $24,500 resistance against the US Dollar. The BTC\/USD pair broke many hurdles near $25,000 and $25,500 to continue higher. It is now up over 7% and it is now trading well above $26,000. A new all-time high was formed near $27,000 and the price is currently consolidating gains. An initial support on the downside is near the $26,400 level. It is close to the 23.6% Fib retracement level of the recent increase from the $24,532 swing low to $26,991 high. Source: BTCUSD on TradingView.com The first major support on the downside is near the $25,8000 level. There is also a key bullish trend line forming with support near $25,400 on the 4-hours chart of the BTC\/USD pair. The 50% Fib retracement level of the recent increase from the $24,532 swing low to $26,991 high is also near the trend line zone. On the upside, the $27,000 level is an initial resistance zone. A clear break above the $27,000 zone could open the doors for a push towards $28,000 and $28,800 levels. Any more upsides might set the pace for a test of the key $30,000 level. Dips Supported in BTC? If there is a decent downside correction, bitcoin price might find bids near the $25,800 and $25,500 levels. The next major support on the downside is near the $25,000 level. The first major support is near the 24,200 level (the last key breakout zone). Any more losses may possibly lead the price back towards the $22,000 support zone. Technical indicators 4 hours MACD \u2013 The MACD for BTC\/USD is gaining momentum in the bullish zone. 4 hours RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now well above the 70 level. Major Support Level \u2013 $25,000 Major Resistance Level \u2013 $28,000<\/p>\n","protected":false},"author":67,"featured_media":453105,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1144,78790,76835],"class_list":["post-453103","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\nBitcoin Reaches $27K, Why BTC Could Hit $30K Before New Year<\/title>\n<meta name=\"description\" content=\"Bitcoin price started another increase and broke the $25,000 resistance against the US Dollar. 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