{"id":468126,"date":"2021-07-26T03:48:34","date_gmt":"2021-07-26T03:48:34","guid":{"rendered":"https:\/\/ktsl888.com\/?p=468126"},"modified":"2024-06-11T11:44:26","modified_gmt":"2024-06-11T11:44:26","slug":"bitcoin-surges-to-40k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-surges-to-40k\/","title":{"rendered":"TA: Bitcoin Surges To $40K, Why BTC Could Rally Further"},"content":{"rendered":"
Bitcoin price started a strong upward move above the $35,000 resistance against the US Dollar. BTC is showing positive signs and it could rally further above $40,000.<\/em><\/p>\n Bitcoin price found a strong buying interest<\/a> near the $32,000 zone. BTC formed a support base near the $32,000 and it started a major upward move.<\/p>\n The price surged above the $32,000 and $35,500 resistance levels. There was a clear break above the $38,000 resistance level. The upward move gained strength and the price even traded close to the $40,000 resistance zone.<\/p>\n A high was formed near $39,721 and the price is now correcting gains. It is trading near the 23.6% Fib retracement level of the recent rally from the $33,904 swing low to $39,723 high. Bitcoin is now trading well above $35,000 and the 100 hourly simple moving average<\/a>.<\/p>\n There is also a key bullish trend line forming with support near $35,500 with resistance near $31,250 on the hourly chart of the BTC\/USD pair. It is showing a lot of positive signs near the $38,000 level. On the upside, an initial resistance is near the $39,000 level.<\/p>\n <\/a><\/p>\n The first major resistance is near the $39,500 level. The main resistance sits near $40,000. A successful break and close above the $40,000 level could initiate a fresh rally in the near term. In the stated case, the price is likely to move towards the $42,500 level in the near term.<\/p>\n If bitcoin fails to climb above the $39,500 and $40,000 resistance levels, it could start a downside correction. An initial support on the downside is near the $37,500 level.<\/p>\n The first major support is now near the $36,800 zone. A clear downside break below the $36,800 support may possibly push the price towards the $36,000 support zone in the near term.<\/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 in the overbought zone.<\/p>\n Major Support Levels \u2013 $37,500, followed by $36,800.<\/p>\n Major Resistance Levels \u2013 $39,000, $39,500 and $40,000.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin price started a strong upward move above the $35,000 resistance against the US Dollar. BTC is showing positive signs and it could rally further above $40,000. Bitcoin started a strong increase above the $33,000 and $35,000 resistance levels. The price is now trading well above $35,000 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $35,500 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 $37,000. Bitcoin Price Surges above $38,000 Bitcoin price found a strong buying interest near the $32,000 zone. BTC formed a support base near the $32,000 and it started a major upward move. The price surged above the $32,000 and $35,500 resistance levels. There was a clear break above the $38,000 resistance level. The upward move gained strength and the price even traded close to the $40,000 resistance zone. A high was formed near $39,721 and the price is now correcting gains. It is trading near the 23.6% Fib retracement level of the recent rally from the $33,904 swing low to $39,723 high. Bitcoin is now trading well above $35,000 and the 100 hourly simple moving average. There is also a key bullish trend line forming with support near $35,500 with resistance near $31,250 on the hourly chart of the BTC\/USD pair. It is showing a lot of positive signs near the $38,000 level. On the upside, an initial resistance is near the $39,000 level. Source: BTCUSD on TradingView.com The first major resistance is near the $39,500 level. The main resistance sits near $40,000. A successful break and close above the $40,000 level could initiate a fresh rally in the near term. In the stated case, the price is likely to move towards the $42,500 level in the near term. Dip Supported in BTC? If bitcoin fails to climb above the $39,500 and $40,000 resistance levels, it could start a downside correction. An initial support on the downside is near the $37,500 level. The first major support is now near the $36,800 zone. A clear downside break below the $36,800 support may possibly push the price towards the $36,000 support zone in the near term. 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 in the overbought zone. Major Support Levels \u2013 $37,500, followed by $36,800. Major Resistance Levels \u2013 $39,000, $39,500 and $40,000.<\/p>\n","protected":false},"author":67,"featured_media":458533,"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-468126","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 $38,000<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Dip Supported in BTC?<\/h2>\n