BTCUSD on TradingView.com<\/a><\/p>\nThe next key resistance could be $36,200, above which the price could rise toward $37,000. Any more gains might send BTC toward the $37,500 level.<\/p>\n
More Losses In BTC?<\/h2>\n If Bitcoin fails to rise above the $35,150 resistance zone, it could continue to move down. Immediate support on the downside is near the $34,350 low and the trend line.<\/p>\n
The next major support is near the $35,000 zone. If there is a move below $34,000, there is a risk of more downsides. In the stated case, the price could drop toward the $33,200 level in the near term.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now losing 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 $34,300, followed by $34,000.<\/p>\n
Major Resistance Levels \u2013 $34,750, $35,150, and $36,000.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price failed to continue higher above $36,000. BTC corrected gains and might find strong buying interest near the $34,200 support zone. Bitcoin corrected gains from the $36,000 resistance zone. The price is trading near $34,700 and the 100 hourly Simple moving average. There is a major bullish trend line forming with support near $34,300 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair must stay above the $34,000 support to start a fresh increase in the near term. Bitcoin Price Holds Support Bitcoin price attempted another rally above the $35,000 resistance. BTC cleared the $35,500 level but struggled near the $36,000 level. There was no test of the $36,200 resistance zone and the price started a downside correction. There was a move below the $35,500 and $35,000 levels. The price even spiked below the $34,500 level and the 100 hourly Simple moving average. A low is formed near $34,350 and the price is now consolidating losses near the 23.6% Fib retracement level of the recent decline from the $35,945 swing high to the $34,350 low. Bitcoin also trades near $34,700 and the 100 hourly Simple moving average. Besides, there is a major bullish trend line forming with support near $34,300 on the hourly chart of the BTC\/USD pair. On the upside, immediate resistance is near the $35,750 level. The next key resistance could be near $35,150 or the 50% Fib retracement level of the recent decline from the $35,945 swing high to the $34,350 low. A clear move above the $35,150 resistance might open the doors for a move toward the $36,000 resistance. Source: BTCUSD on TradingView.com The next key resistance could be $36,200, above which the price could rise toward $37,000. Any more gains might send BTC toward the $37,500 level. More Losses In BTC? If Bitcoin fails to rise above the $35,150 resistance zone, it could continue to move down. Immediate support on the downside is near the $34,350 low and the trend line. The next major support is near the $35,000 zone. If there is a move below $34,000, there is a risk of more downsides. In the stated case, the price could drop toward the $33,200 level in the near term. Technical indicators: Hourly MACD \u2013 The MACD is now losing 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 $34,300, followed by $34,000. Major Resistance Levels \u2013 $34,750, $35,150, and $36,000.<\/p>\n","protected":false},"author":67,"featured_media":459185,"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-558915","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 Reaches Key Juncture, Is This Bulls Trap or Technical 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