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{"id":525646,"date":"2023-04-05T03:56:56","date_gmt":"2023-04-05T03:56:56","guid":{"rendered":"https:\/\/ktsl888.com\/?p=525646"},"modified":"2024-06-11T10:44:26","modified_gmt":"2024-06-11T10:44:26","slug":"bitcoin-price-29000-fresh-rally","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-price-29000-fresh-rally\/","title":{"rendered":"Bitcoin Price Needs To Clear $29,000 For Hopes of a Fresh Rally"},"content":{"rendered":"

Bitcoin price is consolidating gains below the $28,800 resistance. BTC must clear $29,000 to start a fresh rally and clear the $30,000 resistance zone.<\/em><\/p>\n

\n
Bitcoin is showing positive signs above the $28,000 support zone.<\/li>\n
The price is trading above $28,200 and the 100 hourly simple moving average.<\/li>\n
There is a key bullish trend line forming with support near $28,400 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could start another rally if it clears the $28,800 and $29,000 resistance levels.<\/li>\n<\/ul>\n
Bitcoin Price Consolidates Gains<\/h2>\n
Bitcoin price remained well supported above the $27,550 zone<\/a>. BTC formed a base and started a fresh increase above the $28,000 resistance zone.<\/p>\n
There was a clear move above the $28,200 and $28,500 resistance levels. However, the price struggled to clear the $28,800 resistance zone. A high is formed near $28,792 and the price is now consolidating gains. It is trading above $28,200 and the 100 hourly simple moving average<\/a>.<\/p>\n
Bitcoin price is also above the 23.6% Fib retracement level of the upward move from the $27,212 swing low to the $28,792 high. Besides, there is a key bullish trend line forming with support near $28,400 on the hourly chart of the BTC\/USD pair.<\/p>\n
Immediate resistance is near the $28,800 level. The next major resistance is near the $29,000 zone. A clear move above the $29,000 level might pump the price towards the $29,800 resistance.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/p>\n
The next key resistance is near the $30,000 level, above which the price could rise towards the $31,200 level. Any more gains might call for a test of the $32,000 resistance zone.<\/p>\n
Another Decline in BTC?<\/h2>\n
If bitcoin price fails to clear the $28,800 resistance, it could start another decline. An immediate support on the downside is near the $28,400 zone and the trend line.<\/p>\n
The next major support is near the $28,000 zone or the 50% Fib retracement level of the upward move from the $27,212 swing low to the $28,792 high. A downside break below the $28,000 support might send the price towards the $27,550 support 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 above the 50 level.<\/p>\n
Major Support Levels \u2013 $28,400, followed by $28,000.<\/p>\n
Major Resistance Levels \u2013 $28,800, $29,000 and $29,800.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price is consolidating gains below the $28,800 resistance. BTC must clear $29,000 to start a fresh rally and clear the $30,000 resistance zone. Bitcoin is showing positive signs above the $28,000 support zone. The price is trading above $28,200 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $28,400 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start another rally if it clears the $28,800 and $29,000 resistance levels. Bitcoin Price Consolidates Gains Bitcoin price remained well supported above the $27,550 zone. BTC formed a base and started a fresh increase above the $28,000 resistance zone. There was a clear move above the $28,200 and $28,500 resistance levels. However, the price struggled to clear the $28,800 resistance zone. A high is formed near $28,792 and the price is now consolidating gains. It is trading above $28,200 and the 100 hourly simple moving average. Bitcoin price is also above the 23.6% Fib retracement level of the upward move from the $27,212 swing low to the $28,792 high. Besides, there is a key bullish trend line forming with support near $28,400 on the hourly chart of the BTC\/USD pair. Immediate resistance is near the $28,800 level. The next major resistance is near the $29,000 zone. A clear move above the $29,000 level might pump the price towards the $29,800 resistance. Source: BTCUSD on TradingView.com The next key resistance is near the $30,000 level, above which the price could rise towards the $31,200 level. Any more gains might call for a test of the $32,000 resistance zone. Another Decline in BTC? If bitcoin price fails to clear the $28,800 resistance, it could start another decline. An immediate support on the downside is near the $28,400 zone and the trend line. The next major support is near the $28,000 zone or the 50% Fib retracement level of the upward move from the $27,212 swing low to the $28,792 high. A downside break below the $28,000 support might send the price towards the $27,550 support 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 above the 50 level. Major Support Levels \u2013 $28,400, followed by $28,000. Major Resistance Levels \u2013 $28,800, $29,000 and $29,800.<\/p>\n","protected":false},"author":67,"featured_media":463396,"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":[428,679,1144,78790,76835],"class_list":["post-525646","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\nBitcoin Price Needs To Clear $29,000 For Hopes of a Fresh Rally<\/title>\n<meta name=\"description\" content=\"Bitcoin price is consolidating gains below the $28,800 resistance. 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His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. 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