{"id":467892,"date":"2021-07-22T03:08:57","date_gmt":"2021-07-22T03:08:57","guid":{"rendered":"https:\/\/ktsl888.com\/?p=467892"},"modified":"2024-06-11T13:57:13","modified_gmt":"2024-06-11T13:57:13","slug":"bitcoin-trim-losses-32k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-trim-losses-32k\/","title":{"rendered":"TA: Bitcoin Trim Losses, Why Bulls Need To Overcome $32.5K For More Upsides"},"content":{"rendered":"
Bitcoin price started a strong upward move from the $29,250 support zone against the US Dollar. BTC must settle above $32,000 and $32,500 for more upsides in the near term.<\/em><\/p>\n Bitcoin price found a strong buying interest<\/a> below the $30,000 level. BTC formed a support base near the $29,300 and it started a major recovery wave.<\/p>\n The price surged above the $30,000 and $30,500 resistance levels. There was a clear break above the 61.8% Fib retracement level of the recent downward move from the $31,900 swing high to $29,312 low. There was also a break above a major bearish trend line with resistance near $31,250 on the hourly chart of the BTC\/USD pair.<\/p>\n The pair jumped above the $31,500 level and the 100 hourly simple moving average<\/a>. Finally, there was a break above the $32,000 resistance zone.<\/p>\n It tested the $32,500 resistance zone. It seems like the bears were active near the 1.236 Fib extension level of the recent downward move from the $31,900 swing high to $29,312 low. Bitcoin price is now consolidating above the $31,500 level.<\/p>\n <\/a><\/p>\n The first major resistance is near the $32,500 level. If there is a close above the $32,500 resistance zone, the price is likely to accelerate higher. In the stated case, the price is likely to move towards the $33,500 level in the near term.<\/p>\n If bitcoin fails to climb above the $32,300 and $32,500 resistance levels, it could start a downside correction. An initial support on the downside is near the $31,500 level.<\/p>\n The first major support is now near the $31,200 zone. A clear downside break below the $31,200 support may possibly put a lot of pressure on the bulls. The next key support is seen near the $30,500 level.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is now losing pace in the bullish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now well above the 50 level.<\/p>\n Major Support Levels \u2013 $31,500, followed by $31,200.<\/p>\n Major Resistance Levels \u2013 $32,200, $32,500 and $33,000.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin price started a strong upward move from the $29,250 support zone against the US Dollar. BTC must settle above $32,000 and $32,500 for more upsides in the near term. Bitcoin started a strong increase above the $30,000 and $31,000 resistance levels. The price is now trading well above $31,000 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $31,250 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could correct gains, but the bulls are likely to remain active near $31,200. Bitcoin Price Surges above $32,000 Bitcoin price found a strong buying interest below the $30,000 level. BTC formed a support base near the $29,300 and it started a major recovery wave. The price surged above the $30,000 and $30,500 resistance levels. There was a clear break above the 61.8% Fib retracement level of the recent downward move from the $31,900 swing high to $29,312 low. There was also a break above a major bearish trend line with resistance near $31,250 on the hourly chart of the BTC\/USD pair. The pair jumped above the $31,500 level and the 100 hourly simple moving average. Finally, there was a break above the $32,000 resistance zone. It tested the $32,500 resistance zone. It seems like the bears were active near the 1.236 Fib extension level of the recent downward move from the $31,900 swing high to $29,312 low. Bitcoin price is now consolidating above the $31,500 level. Source: BTCUSD on TradingView.com The first major resistance is near the $32,500 level. If there is a close above the $32,500 resistance zone, the price is likely to accelerate higher. In the stated case, the price is likely to move towards the $33,500 level in the near term. Dip Supported in BTC? If bitcoin fails to climb above the $32,300 and $32,500 resistance levels, it could start a downside correction. An initial support on the downside is near the $31,500 level. The first major support is now near the $31,200 zone. A clear downside break below the $31,200 support may possibly put a lot of pressure on the bulls. The next key support is seen near the $30,500 level. 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 $31,500, followed by $31,200. Major Resistance Levels \u2013 $32,200, $32,500 and $33,000.<\/p>\n","protected":false},"author":67,"featured_media":461328,"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-467892","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 Surges above $32,000<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Dip Supported in BTC?<\/h2>\n