{"id":482252,"date":"2022-01-28T03:28:54","date_gmt":"2022-01-28T03:28:54","guid":{"rendered":"https:\/\/wncen.com\/?p=482252"},"modified":"2024-06-11T12:17:50","modified_gmt":"2024-06-11T12:17:50","slug":"bitcoin-regains-momentum-38k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-regains-momentum-38k\/","title":{"rendered":"TA: Bitcoin Regains Momentum, What Could Spark Additional Upsides"},"content":{"rendered":"
Bitcoin found support near $35,550 and started a fresh increase against the US Dollar. BTC must clear $38,000 for additional upsides in the near term.<\/em><\/p>\n Bitcoin price started a downside correction<\/a> from the $38,500 resistance zone. BTC declined below the $36,500 level and the 100 hourly simple moving average.<\/p>\n However, the bulls were active near the $35,550 zone. A low was formed near $35,550 and the price started a fresh increase. There was a clear move above the $36,200 and $36,500 resistance levels. Besides, there was a break above a major bearish trend line with resistance near $36,500 on the hourly chart of the BTC\/USD pair.<\/p>\n The pair is now trading above $37,000 and the 100 hourly simple moving average<\/a>. It is testing the $37,200 resistance zone. It is near the 50% Fib retracement level of the recent decline from the $38,899 swing high to $35,550 low.<\/p>\n On the upside, an initial resistance is near the $37,250 level. The first major resistance is near the $37,650 zone. It is near the 61.8% Fib retracement level of the recent decline from the $38,899 swing high to $35,550 low.<\/p>\n <\/a><\/p>\n The main resistance is still near the $38,000 zone. An upside break above the $38,000 resistance could start a steady upward move. The next key resistance is near the $38,500 level, above which the bulls might gain strength.<\/p>\n If bitcoin fails to start a fresh increase above $38,000, it could start another decline. An immediate support on the downside is near the $36,500 zone.<\/p>\n The first major support is seen near the $35,550 zone. A downside break below the $35,550 support zone may perhaps push the price towards the $34,000 support zone.<\/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 $36,500, followed by $35,550.<\/p>\n Major Resistance Levels \u2013 $37,650, $38,000 and $38,500.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin found support near $35,550 and started a fresh increase against the US Dollar. BTC must clear $38,000 for additional upsides in the near term. Bitcoin corrected lower but the bulls were active near the $35,550 zone. The price is now trading above $37,000 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $36,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start a steady increase if there is a clear move above the $38,000 resistance. Bitcoin Price Finds Support Bitcoin price started a downside correction from the $38,500 resistance zone. BTC declined below the $36,500 level and the 100 hourly simple moving average. However, the bulls were active near the $35,550 zone. A low was formed near $35,550 and the price started a fresh increase. There was a clear move above the $36,200 and $36,500 resistance levels. Besides, there was a break above a major bearish trend line with resistance near $36,500 on the hourly chart of the BTC\/USD pair. The pair is now trading above $37,000 and the 100 hourly simple moving average. It is testing the $37,200 resistance zone. It is near the 50% Fib retracement level of the recent decline from the $38,899 swing high to $35,550 low. On the upside, an initial resistance is near the $37,250 level. The first major resistance is near the $37,650 zone. It is near the 61.8% Fib retracement level of the recent decline from the $38,899 swing high to $35,550 low. Source: BTCUSD on TradingView.com The main resistance is still near the $38,000 zone. An upside break above the $38,000 resistance could start a steady upward move. The next key resistance is near the $38,500 level, above which the bulls might gain strength. More Losses in BTC? If bitcoin fails to start a fresh increase above $38,000, it could start another decline. An immediate support on the downside is near the $36,500 zone. The first major support is seen near the $35,550 zone. A downside break below the $35,550 support zone may perhaps push the price towards the $34,000 support zone. 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 $36,500, followed by $35,550. Major Resistance Levels \u2013 $37,650, $38,000 and $38,500.<\/p>\n","protected":false},"author":67,"featured_media":463643,"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-482252","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 Finds Support<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
More Losses in BTC?<\/h2>\n