{"id":468256,"date":"2021-07-28T03:08:34","date_gmt":"2021-07-28T03:08:34","guid":{"rendered":"https:\/\/ktsl888.com\/?p=468256"},"modified":"2024-06-11T09:27:03","modified_gmt":"2024-06-11T09:27:03","slug":"bitcoin-resumes-rally-40k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-resumes-rally-40k\/","title":{"rendered":"TA: Bitcoin Resumes Rally, Why BTC Could Accelerate Above $40K"},"content":{"rendered":"
Bitcoin price found support near $36,400 and it started a fresh increase against the US Dollar. BTC is showing positive signs and it could rally further above $40,000.<\/em><\/p>\n Bitcoin price corrected lower<\/a> from the $40,000 resistance zone. BTC declined below the $38,000 support level, but it remained well above the 100 hourly simple moving average.<\/p>\n The bulls were active near the $36,400 and $36,500 support levels. A low was formed near $36,403 and the price is now rising. It broke the $37,000 and $38,000 levels. There was a clear break above the 50% Fib retracement level of the downward move from the $40,520 swing high to $36,400 swing low.<\/p>\n It is now trading well above $37,000 and the 100 hourly simple moving average<\/a>. Bitcoin seems to be positioned nicely above the 76.4% Fib retracement level of the downward move from the $40,520 swing high to $36,400 swing low.<\/p>\n <\/a><\/p>\n There is also a crucial bullish trend line forming with support near $36,800 on the hourly chart of the BTC\/USD pair. On the upside, an initial resistance is near the $40,000 level. The first major resistance is near the $40,500 level. A successful break and close above the $40,500 level could spark a steady increase towards the $42,000 level in the near term.<\/p>\n If bitcoin fails to climb above the $40,000 and $40,500 resistance levels, it could start another downside correction. An initial support on the downside is near the $39,200 level.<\/p>\n The first major support is now near the $38,800 zone. A clear downside break below the $38,800 support might call for a move towards the $37,500 level. The next major support is near the $37,000 zone.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is now gaining 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 $39,200, followed by $38,800.<\/p>\n Major Resistance Levels \u2013 $40,000, $40,500 and $42,000.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin price found support near $36,400 and it started a fresh increase against the US Dollar. BTC is showing positive signs and it could rally further above $40,000. Bitcoin remained well bid above the $36,400 and $36,500 support levels. The price is now trading well above $37,000 and the 100 hourly simple moving average. There is a crucial bullish trend line forming with support near $36,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is likely to gain bullish momentum above the $40,000 resistance zone in the near term. Bitcoin Price Gains Pace Bitcoin price corrected lower from the $40,000 resistance zone. BTC declined below the $38,000 support level, but it remained well above the 100 hourly simple moving average. The bulls were active near the $36,400 and $36,500 support levels. A low was formed near $36,403 and the price is now rising. It broke the $37,000 and $38,000 levels. There was a clear break above the 50% Fib retracement level of the downward move from the $40,520 swing high to $36,400 swing low. It is now trading well above $37,000 and the 100 hourly simple moving average. Bitcoin seems to be positioned nicely above the 76.4% Fib retracement level of the downward move from the $40,520 swing high to $36,400 swing low. Source: BTCUSD on TradingView.com There is also a crucial bullish trend line forming with support near $36,800 on the hourly chart of the BTC\/USD pair. On the upside, an initial resistance is near the $40,000 level. The first major resistance is near the $40,500 level. A successful break and close above the $40,500 level could spark a steady increase towards the $42,000 level in the near term. Dip Limited in BTC? If bitcoin fails to climb above the $40,000 and $40,500 resistance levels, it could start another downside correction. An initial support on the downside is near the $39,200 level. The first major support is now near the $38,800 zone. A clear downside break below the $38,800 support might call for a move towards the $37,500 level. The next major support is near the $37,000 zone. Technical indicators: Hourly MACD \u2013 The MACD is now gaining 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 $39,200, followed by $38,800. Major Resistance Levels \u2013 $40,000, $40,500 and $42,000.<\/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-468256","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 Gains Pace<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Dip Limited in BTC?<\/h2>\n