{"id":455761,"date":"2021-02-02T03:28:12","date_gmt":"2021-02-02T03:28:12","guid":{"rendered":"https:\/\/ktsl888.com\/?p=455761"},"modified":"2024-06-11T14:13:05","modified_gmt":"2024-06-11T14:13:05","slug":"ta-why-bitcoin-topside-bias-vulnerable-if-it-continues-to-struggle-below-35k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ta-why-bitcoin-topside-bias-vulnerable-if-it-continues-to-struggle-below-35k\/","title":{"rendered":"TA: Why Bitcoin Topside Bias Vulnerable If It Continues To Struggle Below $35K"},"content":{"rendered":"
Bitcoin price made another attempt to clear $35,000, but it failed against the US Dollar. BTC is currently consolidating above the $33,000 support zone, with a few positive signs.<\/em><\/p>\n After a strong surge<\/a>, bitcoin price trimmed most its gains and settled below $35,000. BTC even spiked below the $34,000 support level<\/a> and the 100 hourly simple moving average.<\/p>\n A low is formed near $32,178 and the price is currently correcting higher. There was a break above the 23.6% downward move from the $38,590 swing high to $32,178 low. Bitcoin is now holding the key $33,000 support level and testing the 100 hourly simple moving average.<\/p>\n It seems like there is a key contracting triangle forming with resistance near $34,500 on the hourly chart of the BTC\/USD pair. The next major resistance above the triangle is near the $34,850 level.<\/p>\n <\/a><\/p>\n If there is a clear break above the triangle resistance and $34,850, the price could clear the $35,000 barrier. The next key resistance is near the $35,380 level. It is close to the 50% downward move from the $38,590 swing high to $32,178 low.<\/p>\n A successful break above the $35,000 resistance level with a follow up move above $35,380 could open the doors for a larger increase in the coming sessions. The next major resistance for bitcoin sits at $36,150.<\/p>\n If bitcoin fails to clear the $34,500 resistance zone, there is a risk of a fresh bearish wave. An initial support is near the $33,000 level and the triangle lower trend line.<\/p>\n A downside break below the triangle support trend line could push the price towards the $32,150 and $32,000 support levels. Any more losses could lead the price towards the $31,000 support zone.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is slowly losing pace in the bullish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now close to the 50 level.<\/p>\n Major Support Levels \u2013 $33,000, followed by $32,150.<\/p>\n Major Resistance Levels \u2013 $34,500, $35,000 and $35,380.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin price made another attempt to clear $35,000, but it failed against the US Dollar. BTC is currently consolidating above the $33,000 support zone, with a few positive signs. Bitcoin is still facing a strong resistance near the $34,850 and $35,000 levels. The price is currently holding the key $33,000 support level and testing the 100 hourly simple moving average. There is a key contracting triangle forming with resistance near $34,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could make another attempt to surpass $35,000 if it clears the $34,500 resistance level. Bitcoin Price Is Stuck Below $35,000 After a strong surge, bitcoin price trimmed most its gains and settled below $35,000. BTC even spiked below the $34,000 support level and the 100 hourly simple moving average. A low is formed near $32,178 and the price is currently correcting higher. There was a break above the 23.6% downward move from the $38,590 swing high to $32,178 low. Bitcoin is now holding the key $33,000 support level and testing the 100 hourly simple moving average. It seems like there is a key contracting triangle forming with resistance near $34,500 on the hourly chart of the BTC\/USD pair. The next major resistance above the triangle is near the $34,850 level. Source: BTCUSD on TradingView.com If there is a clear break above the triangle resistance and $34,850, the price could clear the $35,000 barrier. The next key resistance is near the $35,380 level. It is close to the 50% downward move from the $38,590 swing high to $32,178 low. A successful break above the $35,000 resistance level with a follow up move above $35,380 could open the doors for a larger increase in the coming sessions. The next major resistance for bitcoin sits at $36,150. Fresh Downside Break in BTC? If bitcoin fails to clear the $34,500 resistance zone, there is a risk of a fresh bearish wave. An initial support is near the $33,000 level and the triangle lower trend line. A downside break below the triangle support trend line could push the price towards the $32,150 and $32,000 support levels. Any more losses could lead the price towards the $31,000 support zone. Technical indicators: Hourly MACD \u2013 The MACD is slowly losing pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now close to the 50 level. Major Support Levels \u2013 $33,000, followed by $32,150. Major Resistance Levels \u2013 $34,500, $35,000 and $35,380.<\/p>\n","protected":false},"author":67,"featured_media":455763,"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-455761","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n\n
Bitcoin Price Is Stuck Below $35,000<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Fresh Downside Break in BTC?<\/h2>\n