BTCUSD on TradingView.com<\/a><\/p>\nThe 76.4% Fib retracement level of the downward move from the $30,037 swing high to the $27,258 low is also near the $29,400 zone. The next major resistance sits near the $29,500 zone. A close above the $29,500 resistance could send Bitcoin toward $30,000. Any more gains could open the doors for a test of the key barrier at $31,000.<\/p>\n
Fresh Decline in BTC?<\/h2>\n If Bitcoin\u2019s price fails to clear the $29,400 resistance, it could again start a fresh decline. Immediate support on the downside is near the $28,650 level.<\/p>\n
The next major support is near the $28,000 zone or the trend line. A downside break and close below the $28,000 support might push the price toward the $27,500 support. Any more losses might take Bitcoin toward $27,250.<\/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 $28,650, followed by $28,000.<\/p>\n
Major Resistance Levels \u2013 $29,400, $29,500, and $30,000.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price saw a couple of wild moves above the $28,500 pivot level. BTC is now rising and showing positive signs above the $28,800 level. Bitcoin climbed sharply and then nosedived to revisit the $27,250 support. The price is trading above $28,000 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support near $27,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could continue to rise if it clears the $29,400 and $29,500 resistance levels. Bitcoin Price Regains Traction Bitcoin price started a major increase from the $27,000 support zone. BTC climbed over $2,000 and broke the $29,250 resistance zone. It even tested the $30,000 resistance before the bears appeared. There was a sharp decline from the $30,037 high. Bitcoin dived over $2,000 and retested the $27,250 support where the bulls emerged. The price is now rising and trading above $28,000. It is also above $28,200 and the 100 hourly Simple moving average. Besides, there is a key bullish trend line forming with support near $27,800 on the hourly chart of the BTC\/USD pair. The bulls pushed the price above the 50% Fib retracement level of the downward move from the $30,037 swing high to the $27,258 low. Immediate resistance is near the $29,400 level. Source: BTCUSD on TradingView.com The 76.4% Fib retracement level of the downward move from the $30,037 swing high to the $27,258 low is also near the $29,400 zone. The next major resistance sits near the $29,500 zone. A close above the $29,500 resistance could send Bitcoin toward $30,000. Any more gains could open the doors for a test of the key barrier at $31,000. Fresh Decline in BTC? If Bitcoin\u2019s price fails to clear the $29,400 resistance, it could again start a fresh decline. Immediate support on the downside is near the $28,650 level. The next major support is near the $28,000 zone or the trend line. A downside break and close below the $28,000 support might push the price toward the $27,500 support. Any more losses might take Bitcoin toward $27,250. 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 $28,650, followed by $28,000. Major Resistance Levels \u2013 $29,400, $29,500, and $30,000.<\/p>\n","protected":false},"author":67,"featured_media":460635,"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-528800","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 Saw Increase In Volatility, Here\u2019s Why The Bulls Are Safe<\/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