BTCUSD on TradingView.com<\/a><\/p>\nImmediate resistance is near the $30,250 level. The next major resistance is near the $30,500 zone. A close above the $30,500 resistance might start a fresh increase. In the stated case, the price may perhaps rise toward the $31,200 level. The next key resistance is near the $32,000 level, above which the bulls might aim for a move toward the $33,500 level.<\/p>\n
Downside Break in BTC?<\/h2>\n If Bitcoin\u2019s price fails to clear the $30,500 resistance, it could start a downside correction. Immediate support on the downside is near the $30,000 level.<\/p>\n
The next major support is near the $29,400 zone and the 50% Fib retracement level of the upward move from the $28,200 swing low to the $30,577 high. A downside break and close below the $29,400 support might push the price back toward $28,800 or the 100 hourly Simple moving average. Any more losses might call for a drop toward the $28,200 support zone.<\/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 near the 50 level.<\/p>\n
Major Support Levels \u2013 $30,000, followed by $29,400.<\/p>\n
Major Resistance Levels \u2013 $30,250, $30,500, and $31,200.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price is consolidating gains above the $30,000 zone. BTC is showing a few signs of a downside correction below the $30,000 level. Bitcoin attempted a fresh increase and spiked above the $30,450 resistance zone. The price is trading above $30,000 and the 100 hourly Simple moving average. There is a key rising channel forming with support near $30,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start a downside correction if there is a close below the $30,000 support. Bitcoin Price Struggles Bitcoin price remained strong above the $30,000 pivot level. BTC attempted another increase above the $30,200 and $30,250 levels. However, the bears were active near the $30,500 resistance zone. A high was formed near $30,577 and the price started a consolidation phase. There are clear signs of trend exhaustion above the $30,000 level. It is still trading well above $30,000 and the 100 hourly Simple moving average. Besides, there is a key rising channel forming with support near $30,000 on the hourly chart of the BTC\/USD pair. The channel support is near the 23.6% Fib retracement level of the upward move from the $28,200 swing low to the $30,577 high. Source: BTCUSD on TradingView.com Immediate resistance is near the $30,250 level. The next major resistance is near the $30,500 zone. A close above the $30,500 resistance might start a fresh increase. In the stated case, the price may perhaps rise toward the $31,200 level. The next key resistance is near the $32,000 level, above which the bulls might aim for a move toward the $33,500 level. Downside Break in BTC? If Bitcoin\u2019s price fails to clear the $30,500 resistance, it could start a downside correction. Immediate support on the downside is near the $30,000 level. The next major support is near the $29,400 zone and the 50% Fib retracement level of the upward move from the $28,200 swing low to the $30,577 high. A downside break and close below the $29,400 support might push the price back toward $28,800 or the 100 hourly Simple moving average. Any more losses might call for a drop toward the $28,200 support 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 near the 50 level. Major Support Levels \u2013 $30,000, followed by $29,400. Major Resistance Levels \u2013 $30,250, $30,500, and $31,200.<\/p>\n","protected":false},"author":67,"featured_media":459773,"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-526526","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":"\n
Bitcoin Price Consolidates Gains As Risk of Pullback Increase<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n