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{"id":432848,"date":"2020-07-31T03:48:58","date_gmt":"2020-07-31T03:48:58","guid":{"rendered":"https:\/\/wncen.com\/?p=432848"},"modified":"2024-06-11T14:05:53","modified_gmt":"2024-06-11T14:05:53","slug":"bitcoin-fresh-surge-100-sma","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-fresh-surge-100-sma\/","title":{"rendered":"Bitcoin Holding Uptrend Support: Here\u2019s Why 100 SMA Could Trigger Fresh Surge"},"content":{"rendered":"

Bitcoin is currently consolidating in a range above the $10,700 support against the US Dollar. BTC is likely to start a fresh surge as long as it is above the 100 hourly SMA.<\/em><\/p>\n

\n
Bitcoin is trading in a contracting range above the key $10,700 support zone.<\/li>\n
The price seems to be facing a couple of key hurdles near the $11,200 and $11,250 levels.<\/li>\n
There is a major contracting triangle forming with resistance near $11,240 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair must stay above the 100 hourly SMA and $10,700 to start a fresh surge.<\/li>\n<\/ul>\n
Bitcoin Price is Consolidating Gains<\/h2>\n
After a strong rally, bitcoin price started consolidating gains below the $11,250 resistance against the US Dollar. BTC corrected lower a couple of times<\/a>, but it remained well bid above the $10,700 support.<\/p>\n
It seems like the bulls are protecting the uptrend above $10,700 and the 100 hourly simple moving average. The recent swing low was formed near $10,828 before the price recovered higher. It surpassed the $11,000 resistance, plus the 50% Fib retracement level of the recent decline from the $11,348 high to $10,828 low.<\/p>\n
However, the price seems to be struggling to settle above $11,200 and $11,250 resistance levels. There is also a major contracting triangle forming with resistance near $11,240 on the hourly chart of the BTC\/USD pair.<\/p>\n
$\"Bitcoin\"$ <\/a><\/p>\n
Bitcoin price holding $10,700. Source: TradingView.com<\/a><\/pre>\n
The triangle resistance is close to the 76.4% Fib retracement level of the recent decline from the $11,348 high to $10,828 low. A successful close above the $10,250 resistance may perhaps spark a strong surge.<\/p>\n
The next major resistance is near the $11,350 and $11,400 levels, above which the bulls are likely to aim an upside break above the $11,500 resistance level in the coming sessions.<\/p>\n
100 SMA Holds The Key For BTC<\/h2>\n
On the downside, the triangle support is near the $10,850 level and the 100 hourly SMA. If there is a downside break below the $10,850 support, there is a risk of more losses.<\/p>\n
The main support is near the $10,700 level<\/a>, below which the bears are likely to take control in the short-term. In the mentioned case, the price may probably start an extended downside correction towards the $10,500 level.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is slowly moving back into the bearish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level, with a bearish angle.<\/p>\n
Major Support Levels \u2013 $10,850, followed by $10,700.<\/p>\n
Major Resistance Levels \u2013 $11,250, $11,400 and $11,500.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin is currently consolidating in a range above the $10,700 support against the US Dollar. BTC is likely to start a fresh surge as long as it is above the 100 hourly SMA. Bitcoin is trading in a contracting range above the key $10,700 support zone. The price seems to be facing a couple of key hurdles near the $11,200 and $11,250 levels. There is a major contracting triangle forming with resistance near $11,240 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair must stay above the 100 hourly SMA and $10,700 to start a fresh surge. Bitcoin Price is Consolidating Gains After a strong rally, bitcoin price started consolidating gains below the $11,250 resistance against the US Dollar. BTC corrected lower a couple of times, but it remained well bid above the $10,700 support. It seems like the bulls are protecting the uptrend above $10,700 and the 100 hourly simple moving average. The recent swing low was formed near $10,828 before the price recovered higher. It surpassed the $11,000 resistance, plus the 50% Fib retracement level of the recent decline from the $11,348 high to $10,828 low. However, the price seems to be struggling to settle above $11,200 and $11,250 resistance levels. There is also a major contracting triangle forming with resistance near $11,240 on the hourly chart of the BTC\/USD pair. Bitcoin price holding $10,700. Source: TradingView.com The triangle resistance is close to the 76.4% Fib retracement level of the recent decline from the $11,348 high to $10,828 low. A successful close above the $10,250 resistance may perhaps spark a strong surge. The next major resistance is near the $11,350 and $11,400 levels, above which the bulls are likely to aim an upside break above the $11,500 resistance level in the coming sessions. 100 SMA Holds The Key For BTC On the downside, the triangle support is near the $10,850 level and the 100 hourly SMA. If there is a downside break below the $10,850 support, there is a risk of more losses. The main support is near the $10,700 level, below which the bears are likely to take control in the short-term. In the mentioned case, the price may probably start an extended downside correction towards the $10,500 level. Technical indicators: Hourly MACD \u2013 The MACD is slowly moving back into the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level, with a bearish angle. Major Support Levels \u2013 $10,850, followed by $10,700. Major Resistance Levels \u2013 $11,250, $11,400 and $11,500.<\/p>\n","protected":false},"author":67,"featured_media":432850,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3,4],"tags":[428,1144,78790,76835],"class_list":["post-432848","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","category-analysis","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\nBitcoin Holding Uptrend Support: Here\u2019s Why 100 SMA Could Trigger Fresh Surge<\/title>\n<meta name=\"description\" content=\"Bitcoin is currently consolidating in a range above the $10,700 support against the US Dollar. 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His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.","sameAs":["https:\/\/www.linkedin.com\/in\/aayush-jindal-358b6932\/","https:\/\/x.com\/twitter.com\/AayushJs"],"url":"https:\/\/wncen.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Holding Uptrend Support: Here\u2019s Why 100 SMA Could Trigger Fresh Surge","url":"http:\/\/wncen.com\/news\/bitcoin-fresh-surge-100-sma\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-fresh-surge-100-sma\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/07\/Depositphotos_95168676_s-2019.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/07\/Depositphotos_95168676_s-2019.jpg?fit=1000%2C799"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btcusd","btcusdt","xbtusd"],"dateCreated":"2020-07-31T03:48:58Z","datePublished":"2020-07-31T03:48:58Z","dateModified":"2024-06-11T14:05:53Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Holding Uptrend Support: Here\\u2019s Why 100 SMA Could Trigger Fresh Surge\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-fresh-surge-100-sma\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-fresh-surge-100-sma\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/07\\\/Depositphotos_95168676_s-2019.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/07\\\/Depositphotos_95168676_s-2019.jpg?fit=1000%2C799\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btcusd\",\"btcusdt\",\"xbtusd\"],\"dateCreated\":\"2020-07-31T03:48:58Z\",\"datePublished\":\"2020-07-31T03:48:58Z\",\"dateModified\":\"2024-06-11T14:05:53Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/07\/Depositphotos_95168676_s-2019.jpg?fit=1000%2C799","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/432848","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=432848"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/432848\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/432850"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=432848"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=432848"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=432848"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}

100 SMA Holds The Key For BTC<\/h2>\nOn the downside, the triangle support is near the $10,850 level and the 100 hourly SMA. If there is a downside break below the $10,850 support, there is a risk of more losses.<\/p>\n