{"id":467265,"date":"2021-07-12T03:08:45","date_gmt":"2021-07-12T03:08:45","guid":{"rendered":"https:\/\/ktsl888.com\/?p=467265"},"modified":"2024-06-11T13:56:58","modified_gmt":"2024-06-11T13:56:58","slug":"bitcoin-prints-bullish-pattern-35k-2","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-prints-bullish-pattern-35k-2\/","title":{"rendered":"TA: Bitcoin Prints Bullish Pattern, Why Close above $35K Is Crucial"},"content":{"rendered":"<p><em>Bitcoin price started a fresh increase from the $32,250 support zone against the US Dollar. BTC must settle above the $35,000 resistance to move further into a bullish zone.<\/em><\/p>\n<ul>\n<li>Bitcoin started a fresh increase above the $33,500 and $34,000 resistance levels.<\/li>\n<li>The price is now trading above the $34,000 support and the 100 hourly simple moving average.<\/li>\n<li>There is a major bullish trend line forming with support near $34,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair is likely to continue higher above the $35,000 resistance unless it fails to stay above $33,500.<\/li>\n<\/ul>\n<h2>Bitcoin Price Starts Fresh Increase<\/h2>\n<p>Bitcoin formed a decent support base above the $32,000 zone and started a fresh increase. BTC broke the $33,500 resistance zone and the <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-reaches-key-juncture-32-2k\/\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>.<\/p>\n<p>It even surpassed the $34,000 resistance to move into a <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-fails-again-35k\/\" target=\"_blank\" rel=\"noopener \">positive zone<\/a>. However, the price is still struggling to surpass the main $35,000 resistance zone. A high is formed near $34,600 and the price is now correcting gains.<\/p>\n<p>It traded below the $34,200 level. There was also a break below the 23.6% Fib retracement level of the upward move from the $32,988 swing low to $34,609 high. On the downside, an initial support is seen near the $34,000 level.<\/p>\n<p>There is also a major bullish trend line forming with support near $34,000 on the hourly chart of the BTC\/USD pair. The next support is near the $33,800 level. It is close to the 50% Fib retracement level of the upward move from the $32,988 swing low to $34,609 high.<\/p>\n<p><a href=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/07\/Bitcoin-7.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-467266\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/07\/Bitcoin-7.png?resize=1936%2C1127\" alt=\"Bitcoin Price\" width=\"1936\" height=\"1127\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/07\/Bitcoin-7.png?w=1936 1936w, https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/07\/Bitcoin-7.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/07\/Bitcoin-7.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/07\/Bitcoin-7.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/07\/Bitcoin-7.png?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/07\/Bitcoin-7.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/07\/Bitcoin-7.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<pre>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/pre>\n<p>The main support is now forming near the $33,500 zone and the 100 hourly SMA. Any more losses might push the price back into a negative zone.<\/p>\n<h2>More Upsides in BTC?<\/h2>\n<p>If bitcoin remains stable above the $33,500 support zone, it could continue to move higher. An immediate resistance on the upside is near the $34,500 level.<\/p>\n<p>The first major resistance is near $35,000. If there is a close above the $35,000 resistance zone, the price could rise towards the $36,500 resistance. The next major hurdle is near the $38,000 zone.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now losing pace in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now well above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $34,000, followed by $33,500.<\/p>\n<p>Major Resistance Levels \u2013 $34,500, $35,000 and $36,500.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price started a fresh increase from the $32,250 support zone against the US Dollar. BTC must settle above the $35,000 resistance to move further into a bullish zone. Bitcoin started a fresh increase above the $33,500 and $34,000 resistance levels. The price is now trading above the $34,000 support and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $34,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is likely to continue higher above the $35,000 resistance unless it fails to stay above $33,500. Bitcoin Price Starts Fresh Increase Bitcoin formed a decent support base above the $32,000 zone and started a fresh increase. BTC broke the $33,500 resistance zone and the 100 hourly simple moving average. It even surpassed the $34,000 resistance to move into a positive zone. However, the price is still struggling to surpass the main $35,000 resistance zone. A high is formed near $34,600 and the price is now correcting gains. It traded below the $34,200 level. There was also a break below the 23.6% Fib retracement level of the upward move from the $32,988 swing low to $34,609 high. On the downside, an initial support is seen near the $34,000 level. There is also a major bullish trend line forming with support near $34,000 on the hourly chart of the BTC\/USD pair. The next support is near the $33,800 level. It is close to the 50% Fib retracement level of the upward move from the $32,988 swing low to $34,609 high. Source: BTCUSD on TradingView.com The main support is now forming near the $33,500 zone and the 100 hourly SMA. Any more losses might push the price back into a negative zone. More Upsides in BTC? If bitcoin remains stable above the $33,500 support zone, it could continue to move higher. An immediate resistance on the upside is near the $34,500 level. The first major resistance is near $35,000. If there is a close above the $35,000 resistance zone, the price could rise towards the $36,500 resistance. The next major hurdle is near the $38,000 zone. Technical indicators: Hourly MACD \u2013 The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now well above the 50 level. Major Support Levels \u2013 $34,000, followed by $33,500. Major Resistance Levels \u2013 $34,500, $35,000 and $36,500.<\/p>\n","protected":false},"author":67,"featured_media":462816,"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-467265","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<title>TA: Bitcoin Prints Bullish Pattern, Why Close above $35K Is Crucial<\/title>\n<meta name=\"description\" content=\"Bitcoin price started a fresh increase from the $32,250 support zone against the US Dollar. 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