BTCUSD on TradingView.com<\/a><\/p>\nA close above the $30,000 resistance and the trend line might start another increase. In the stated case, the price may perhaps rise toward the $30,500 level. The next key resistance is near the $31,200 level.<\/p>\n
More Losses in BTC?<\/h2>\n If Bitcoin\u2019s price fails to clear the $30,000 resistance, it could continue to move down. Immediate support on the downside is near the $29,250 level.<\/p>\n
The next major support is near the $29,000 zone. A downside break and close below the $29,000 support might push the price further lower. In the stated case, BTC might decline toward the $28,400 support.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level.<\/p>\n
Major Support Levels \u2013 $29,250, followed by $29,000.<\/p>\n
Major Resistance Levels \u2013 $29,450, $29,800, and $30,000.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price extended its decline below the $30,000 zone. BTC might slide further and test the $29,000 support in the near term. Bitcoin started a downside correction below the $30,000 level. The price is trading below $30,000 and the 100 hourly Simple moving average. There are two bearish trend lines forming with resistance near $29,550 and $30,150 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could extend its decline toward the $29,000 zone in the near term. Bitcoin Price Dips Further Bitcoin price struggled to stay in a positive zone above the $30,500 level. BTC extended its decline and moved below the $30,000 support zone. The bears were able to gain strength and pushed the price toward the $29,200 support zone. A low is formed near $29,123 and the price is now consolidating losses. Bitcoin is now trading below $30,000 and the 100 hourly Simple moving average. Immediate resistance is near the $29,450 level. It is near the 23.6% Fib retracement level of the downward move from the $30,555 swing high to the $29,123 low. There are also two bearish trend lines forming with resistance near $29,550 and $30,150 on the hourly chart of the BTC\/USD pair. A move above the trend line resistance might call for a test of $29,800. The next major resistance is near the $30,000 zone. It is close to the 61.8% Fib retracement level of the downward move from the $30,555 swing high to the $29,123 low. Source: BTCUSD on TradingView.com A close above the $30,000 resistance and the trend line might start another increase. In the stated case, the price may perhaps rise toward the $30,500 level. The next key resistance is near the $31,200 level. More Losses in BTC? If Bitcoin\u2019s price fails to clear the $30,000 resistance, it could continue to move down. Immediate support on the downside is near the $29,250 level. The next major support is near the $29,000 zone. A downside break and close below the $29,000 support might push the price further lower. In the stated case, BTC might decline toward the $28,400 support. Technical indicators: Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level. Major Support Levels \u2013 $29,250, followed by $29,000. Major Resistance Levels \u2013 $29,450, $29,800, and $30,000.<\/p>\n","protected":false},"author":67,"featured_media":458753,"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-527255","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 Slides Further As Bulls Lose Control, $29K Still In Play<\/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