{"id":466694,"date":"2021-07-02T03:08:58","date_gmt":"2021-07-02T03:08:58","guid":{"rendered":"https:\/\/ktsl888.com\/?p=466694"},"modified":"2024-06-11T13:56:46","modified_gmt":"2024-06-11T13:56:46","slug":"bitcoin-price-reaches-key-support-32k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-price-reaches-key-support-32k\/","title":{"rendered":"TA: Bitcoin Price Reaches Key Support, Why BTC Could Start Fresh Increase"},"content":{"rendered":"
Bitcoin price is correcting gains from well above $35,000 against the US Dollar. BTC is approaching a major suppot near $32,350, where the bulls might take a stand.<\/em><\/p>\n Bitcoin failed to stay above the $35,000 support zone<\/a> and it started a fresh decline. BTC broke the $34,000 support zone to move into a short-term bearish zone.<\/p>\n There was also a break below the 50% Fib retracement level of the upward move from the $30,185 swing low to $36,698 high. It is now trading below $34,500 and the 100 hourly simple moving average<\/a>. There is also a key bearish trend line forming with resistance near $33,800 on the hourly chart of the BTC\/USD pair.<\/p>\n An immediate support on the downside is near the $32,650 level. It is near the 61.8% Fib retracement level of the upward move from the $30,185 swing low to $36,698 high.<\/p>\n <\/a><\/p>\n The next key support is near the $32,000 zone. If there is a downside break below the $32,350 and $32,000 support levels, the price could continue to move down. In the stated case, the price might decline towards the $30,200 zone. Any more losses may possibly push the price towards the $29,000 support zone.<\/p>\n If bitcoin remains stable above the $32,000 support zone, it could start a fresh increase in the near term. An immediate resistance on the upside is near the $33,800 level and the trend line.<\/p>\n The next key resistance is near $34,000, above which the price could test the 100 hourly SMA at $34,500. Any more gains could lift the price towards the $35,000 resistance. In this case, the bulls could even aim a fresh test of $36,500.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is slowly gaining pace in the bearish 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 $32,350, followed by $32,000.<\/p>\n Major Resistance Levels \u2013 $33,800, $34,000 and $34,500.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin price is correcting gains from well above $35,000 against the US Dollar. BTC is approaching a major suppot near $32,350, where the bulls might take a stand. Bitcoin started a downside correction from the $36,650 zone. The price is now trading below $34,500 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $33,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is likely to start a fresh increase as long as there is no close below $32,000. Bitcoin Price is Approaching Support Bitcoin failed to stay above the $35,000 support zone and it started a fresh decline. BTC broke the $34,000 support zone to move into a short-term bearish zone. There was also a break below the 50% Fib retracement level of the upward move from the $30,185 swing low to $36,698 high. It is now trading below $34,500 and the 100 hourly simple moving average. There is also a key bearish trend line forming with resistance near $33,800 on the hourly chart of the BTC\/USD pair. An immediate support on the downside is near the $32,650 level. It is near the 61.8% Fib retracement level of the upward move from the $30,185 swing low to $36,698 high. Source: BTCUSD on TradingView.com The next key support is near the $32,000 zone. If there is a downside break below the $32,350 and $32,000 support levels, the price could continue to move down. In the stated case, the price might decline towards the $30,200 zone. Any more losses may possibly push the price towards the $29,000 support zone. Fresh Increase in BTC? If bitcoin remains stable above the $32,000 support zone, it could start a fresh increase in the near term. An immediate resistance on the upside is near the $33,800 level and the trend line. The next key resistance is near $34,000, above which the price could test the 100 hourly SMA at $34,500. Any more gains could lift the price towards the $35,000 resistance. In this case, the bulls could even aim a fresh test of $36,500. Technical indicators: Hourly MACD \u2013 The MACD is slowly gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level. Major Support Levels \u2013 $32,350, followed by $32,000. Major Resistance Levels \u2013 $33,800, $34,000 and $34,500.<\/p>\n","protected":false},"author":67,"featured_media":464001,"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-466694","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 Approaching Support<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Fresh Increase in BTC?<\/h2>\n