BTCUSD on TradingView.com<\/a><\/p>\nAn upside break and close above $28,000 could start a steady increase toward $28,500. If the bulls manage to clear the $28,500 resistance zone might send the price toward the $29,200 resistance zone. The next key resistance is near $29,500, above which the price might rise toward the $30,000 resistance.<\/p>\n
Downside Break in BTC?<\/h2>\n If Bitcoin\u2019s price fails to clear the $28,000 resistance, it could continue to move down. Immediate support on the downside is near the $27,550 level.<\/p>\n
The next major support is near the $27,500 zone and the 100 hourly SMA, below which the price might start a steady decline. In the stated case, the price could drop toward the $27,000 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 below the 50 level.<\/p>\n
Major Support Levels \u2013 $27,550, followed by $27,500.<\/p>\n
Major Resistance Levels \u2013 $28,000, $28,400, and $28,500.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price is consolidating above the $27,500 support. BTC could start a fresh increase unless there is a clear move and close below $27,500. Bitcoin is still holding the key $27,500 support zone. The price is trading above $27,550 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance near $27,850 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start a fresh increase if there is a break above the $28,000 resistance zone. Bitcoin Price Holds Support Bitcoin price started a downside correction after it failed to clear the $28,500 resistance zone. BTC moved below the $28,200 and $28,000 levels. There was also a drop below the $27,800 level but the bulls were active near the $27,500 support. A low is formed near $27,559 and the price is now consolidating. There was already a test of the 50% Fib retracement level of the recent decline from the $28,045 swing high to the $27,559 low. Bitcoin price is now trading above $27,550 and the 100 hourly Simple moving average. There is also a key bearish trend line forming with resistance near $27,850 on the hourly chart of the BTC\/USD pair. Immediate resistance on the upside is near the $27,850 level and the trend line. The next major resistance is near the $28,000 level or the 76.4% Fib retracement level of the recent decline from the $28,045 swing high to the $27,559 low. Source: BTCUSD on TradingView.com An upside break and close above $28,000 could start a steady increase toward $28,500. If the bulls manage to clear the $28,500 resistance zone might send the price toward the $29,200 resistance zone. The next key resistance is near $29,500, above which the price might rise toward the $30,000 resistance. Downside Break in BTC? If Bitcoin\u2019s price fails to clear the $28,000 resistance, it could continue to move down. Immediate support on the downside is near the $27,550 level. The next major support is near the $27,500 zone and the 100 hourly SMA, below which the price might start a steady decline. In the stated case, the price could drop toward the $27,000 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 below the 50 level. Major Support Levels \u2013 $27,550, followed by $27,500. Major Resistance Levels \u2013 $28,000, $28,400, and $28,500.<\/p>\n","protected":false},"author":67,"featured_media":464001,"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-535785","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 Nears Next Key Move, 100 SMA Is The Key<\/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