{"id":465144,"date":"2021-06-07T03:08:28","date_gmt":"2021-06-07T03:08:28","guid":{"rendered":"https:\/\/wncen.com\/?p=465144"},"modified":"2024-06-11T13:56:12","modified_gmt":"2024-06-11T13:56:12","slug":"bitcoin-signals-fresh-increase-37k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-signals-fresh-increase-37k\/","title":{"rendered":"TA: Bitcoin Signals Fresh Increase, Here\u2019s Why $37K Is The Key"},"content":{"rendered":"
Bitcoin price retested the $35,000 support level against the US Dollar. BTC is now rising, but it must clear $37,000 and the 100 hourly SMA for a steady increase.<\/em><\/p>\n Bitcoin failed to stay above the $37,000 support zone<\/a> and extended its decline. BTC even broke the $36,000 support level and settled below the 100 hourly simple moving average.<\/p>\n There was a spike below the $35,000 support level. A low was formed near $34,830 and the price is now correcting higher. There was a break above the $36,000 resistance level. The price climbed above the 50% Fib retracement level of the recent decline from the $37,915 high to $34,830 low.<\/p>\n There was also a break above a key bearish trend line with resistance near $36,000 on the hourly chart of the BTC\/USD pair. The pair is still well below $37,000 and the 100 hourly simple moving average<\/a>.<\/p>\n <\/a><\/p>\n The 76.4% Fib retracement level of the recent decline from the $37,915 high to $34,830 low is also near $37,200 to act as a major hurdle for the bulls. If there is a clear upside break above $37,000 and $37,200, the price could start a major increase.<\/p>\n The first major resistance is near the $38,500 level. The main resistance is still near the $40,000 zone. A clear break above the $40,000 level could set the pace for a larger increase.<\/p>\n If bitcoin fails to clear the $37,000 resistance, it could start a fresh decline. An initial support on the downside is near the $36,000 level.<\/p>\n The first major support is near the $35,500 level. If there is a downside break below the $35,500 support and $35,000, the price could start a sharp decline towards $32,000.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n Major Support Levels \u2013 $36,000, followed by $35,500.<\/p>\n Major Resistance Levels \u2013 $37,000, $38,500 and $40,000.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin price retested the $35,000 support level against the US Dollar. BTC is now rising, but it must clear $37,000 and the 100 hourly SMA for a steady increase. Bitcoin is recovering higher from the $35,000 support zone. The price is currently well below $37,000 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $36,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair must clear $37,000 and the 100 hourly SMA to start a fresh increase in the near term. Bitcoin Price is Facing Key Resistance Bitcoin failed to stay above the $37,000 support zone and extended its decline. BTC even broke the $36,000 support level and settled below the 100 hourly simple moving average. There was a spike below the $35,000 support level. A low was formed near $34,830 and the price is now correcting higher. There was a break above the $36,000 resistance level. The price climbed above the 50% Fib retracement level of the recent decline from the $37,915 high to $34,830 low. There was also a break above a key bearish trend line with resistance near $36,000 on the hourly chart of the BTC\/USD pair. The pair is still well below $37,000 and the 100 hourly simple moving average. Source: BTCUSD on TradingView.com The 76.4% Fib retracement level of the recent decline from the $37,915 high to $34,830 low is also near $37,200 to act as a major hurdle for the bulls. If there is a clear upside break above $37,000 and $37,200, the price could start a major increase. The first major resistance is near the $38,500 level. The main resistance is still near the $40,000 zone. A clear break above the $40,000 level could set the pace for a larger increase. Fresh Decline in BTC? If bitcoin fails to clear the $37,000 resistance, it could start a fresh decline. An initial support on the downside is near the $36,000 level. The first major support is near the $35,500 level. If there is a downside break below the $35,500 support and $35,000, the price could start a sharp decline towards $32,000. Technical indicators: Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level. Major Support Levels \u2013 $36,000, followed by $35,500. Major Resistance Levels \u2013 $37,000, $38,500 and $40,000.<\/p>\n","protected":false},"author":67,"featured_media":462714,"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":[428,1144,78790,76835],"class_list":["post-465144","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n\n
Bitcoin Price is Facing Key Resistance<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Fresh Decline in BTC?<\/h2>\n