BTCUSD on TradingView.com<\/a><\/p>\nThe next major resistance is near the $32,000 level. An upside break above the $32,000 resistance might send BTC toward $32,500. Any more gains could open the doors for a move toward the $33,200 resistance zone.<\/p>\n
More Losses in BTC?<\/h2>\n If Bitcoin\u2019s price fails to clear the $30,950 resistance, it could continue to move down. Immediate support on the downside is near the $30,250 level or the broken trend line zone.<\/p>\n
The next major support is near the $30,000 level, below which there could be a drop toward the $29,550 support. Any more losses might send the price toward the $28,750 support region in the near term.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now losing pace in the bullish 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 $30,000, followed by $29,550.<\/p>\n
Major Resistance Levels \u2013 $30,680, $30,950, and $31,400.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price is still struggling to clear the $31,000 resistance. BTC is trading in a range and might revisit the $30,000 support zone. Bitcoin is consolidating above the $30,000 support zone. The price is trading just below $30,500 and the 100 hourly Simple moving average. There was a break above a major bearish trend line with resistance near $30,300 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could correct lower toward the $30,000 support or even $29,550. Bitcoin Price Faces Resistance Bitcoin price remained supported near the $30,000 zone. BTC traded as low as $29,914 and recently started a fresh increase. There was a move above the $30,200 and $30,250 levels. The price cleared the 50% Fib retracement level of the downward move from the $31,436 swing high to the $29,914 low. Besides, there was a break above a major bearish trend line with resistance near $30,300 on the hourly chart of the BTC\/USD pair. However, the bears seem to be active near the $31,000 resistance zone. Bitcoin struggled to clear the 76.4% Fib retracement level of the downward move from the $31,436 swing high to the $29,914 low. The price is now trading just below $30,500 and the 100 hourly Simple moving average. Immediate resistance is near the $30,680 level. The first major resistance is near the $30,950 level, above which the price might revisit the $31,400 resistance zone. Source: BTCUSD on TradingView.com The next major resistance is near the $32,000 level. An upside break above the $32,000 resistance might send BTC toward $32,500. Any more gains could open the doors for a move toward the $33,200 resistance zone. More Losses in BTC? If Bitcoin\u2019s price fails to clear the $30,950 resistance, it could continue to move down. Immediate support on the downside is near the $30,250 level or the broken trend line zone. The next major support is near the $30,000 level, below which there could be a drop toward the $29,550 support. Any more losses might send the price toward the $28,750 support region in the near term. Technical indicators: Hourly MACD \u2013 The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is below the 50 level. Major Support Levels \u2013 $30,000, followed by $29,550. Major Resistance Levels \u2013 $30,680, $30,950, and $31,400.<\/p>\n","protected":false},"author":67,"featured_media":454689,"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-540043","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 Below $31K As The Bulls Take Back Seat<\/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