BTCUSD on TradingView.com<\/a><\/p>\nA clear move above the $31,000 resistance could send the price further higher. The next major resistance is near the $31,400 level. Any more gains could open the doors for a move toward the $32,000 resistance zone.<\/p>\n
More Losses in BTC?<\/h2>\n If Bitcoin\u2019s price fails to clear the $30,500 resistance, it could continue to move down. Immediate support on the downside is near the $29,850 level and the recent low.<\/p>\n
The next major support is near the $29,000 level, below which there could be a drop toward $28,400. Any more losses might send the price toward the $28,000 level.<\/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 $29,850, followed by $29,000.<\/p>\n
Major Resistance Levels \u2013 $30,280, $30,500, and $30,750.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price extended its decline and spiked below $30,000. BTC is showing a few bearish signs and might extend its decline toward the $28,400 support zone. Bitcoin is moving lower below the $30,500 support zone. The price is trading below $30,300 and the 100 hourly Simple moving average. There was a break below a key bullish trend line with support near $30,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could extend its decline and test the $28,400 support zone. Bitcoin Price Extends Decline Bitcoin price remained well below the $31,000 resistance zone. BTC spiked higher but upsides were limited above the $31,400 resistance. As a result, the price reacted to the downside below the $31,000 level. The price declined below the $30,650 and $30,500 levels. Besides, there was a break below a key bullish trend line with support near $30,500 on the hourly chart of the BTC\/USD pair. It even spiked below the $30,000 support zone. A low is formed near $29,868 and the price is now consolidating losses. Bitcoin is now trading below $30,300 and the 100 hourly Simple moving average. Immediate resistance is near the $30,280 level. It is close to the 23.6% Fib retracement level of the recent decline from the $31,631 swing high to the $29,868 low. The first major resistance is near the $30,500 level, above which the price could start a decent recovery wave. The next resistance is near $30,750 and the 100 hourly Simple moving average. It is close to the 50% Fib retracement level of the recent decline from the $31,631 swing high to the $29,868 low, above which the price might retest $31,000. Source: BTCUSD on TradingView.com A clear move above the $31,000 resistance could send the price further higher. The next major resistance is near the $31,400 level. Any more gains could open the doors for a move toward the $32,000 resistance zone. More Losses in BTC? If Bitcoin\u2019s price fails to clear the $30,500 resistance, it could continue to move down. Immediate support on the downside is near the $29,850 level and the recent low. The next major support is near the $29,000 level, below which there could be a drop toward $28,400. Any more losses might send the price toward the $28,000 level. 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 $29,850, followed by $29,000. Major Resistance Levels \u2013 $30,280, $30,500, and $30,750.<\/p>\n","protected":false},"author":67,"featured_media":463748,"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-541640","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 Takes Hit \u2013 What Could Spark Larger Degree Correction<\/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