BTCUSD on TradingView.com<\/a><\/p>\nThe next key resistance could be $35,350, above which the price could rise toward $36,000. Any more gains might send BTC toward the $36,200 level.<\/p>\n
More Losses In BTC?<\/h2>\n If Bitcoin fails to rise above the $35,000 resistance zone, it could continue to move down. Immediate support on the downside is near the $34,600 low.<\/p>\n
The next major support is near the $34,250 zone and the triangle lower trend line. If there is a move below $34,250, there is a risk of more downsides. In the stated case, the price could even drop below the $34,000 support level in the near term.<\/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 $34,600, followed by $34,250.<\/p>\n
Major Resistance Levels \u2013 $35,000, $35,250, and $35,350.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price consolidating above $34,500 and $34,000. BTC could start a fresh rally if it manages to clear the $35,350 resistance zone. Bitcoin is still struggling to gain pace for a move above $35,250 and $35,350. The price is trading near $34,850 and the 100 hourly Simple moving average. There is a major contracting triangle forming with support near $34,250 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could gain bullish momentum if there is a clear move above the $35,350 resistance. Bitcoin Price Stuck In Range Bitcoin price remained in a range above the $34,000 support zone. BTC attempted a fresh increase above the $35,000 resistance zone. However, the bears remained active near $35,250 and $35,350. The bulls made a few attempts to clear the $35,250 resistance but failed. A high was formed near $35,382 before the price started a downside correction. There was a move below the $35,000 level. The price even spiked below the 50% Fib retracement level of the upward move from the $34,133 swing low to the $35,382 high. Bitcoin is now trading near $34,850 and the 100 hourly Simple moving average. There is also a major contracting triangle forming with support near $34,250 on the hourly chart of the BTC\/USD pair. The triangle support is near the 76.4% Fib retracement level of the upward move from the $34,133 swing low to the $35,382 high. On the upside, immediate resistance is near the $35,000 level. The next key resistance could be near $35,050 or the triangle upper trend line. A clear move above the $35,050 resistance might open the doors for a move toward the $35,250 resistance. Source: BTCUSD on TradingView.com The next key resistance could be $35,350, above which the price could rise toward $36,000. Any more gains might send BTC toward the $36,200 level. More Losses In BTC? If Bitcoin fails to rise above the $35,000 resistance zone, it could continue to move down. Immediate support on the downside is near the $34,600 low. The next major support is near the $34,250 zone and the triangle lower trend line. If there is a move below $34,250, there is a risk of more downsides. In the stated case, the price could even drop below the $34,000 support level in the near term. 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 $34,600, followed by $34,250. Major Resistance Levels \u2013 $35,000, $35,250, and $35,350.<\/p>\n","protected":false},"author":67,"featured_media":458642,"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-559439","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 Above $34K: What Could Trigger A Fresh Rally?<\/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