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{"id":539279,"date":"2023-06-23T02:52:43","date_gmt":"2023-06-23T02:52:43","guid":{"rendered":"https:\/\/wncen.com\/?p=539279"},"modified":"2024-06-11T08:28:48","modified_gmt":"2024-06-11T08:28:48","slug":"bitcoin-price-rally-pauses-30800","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-rally-pauses-30800\/","title":{"rendered":"Bitcoin Price Rally Pauses But Not Likely Over \u2013 Dips Turn Attractive"},"content":{"rendered":"

Bitcoin price rallied toward $30,800 before the bears appeared. BTC is now correcting gains but dips could be attractive near the $28,800 zone.<\/em><\/p>\n

\n
Bitcoin is currently correcting gains from the $30,800 zone.<\/li>\n
The price is trading above $29,500 and the 100 hourly Simple moving average.<\/li>\n
There was a break below a connecting bullish trend line with support near $30,050 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could correct lower but the bulls might be active near the $28,800 zone.<\/li>\n<\/ul>\n
Bitcoin Price Rally Fades<\/h2>\n
Bitcoin price gained bullish momentum above the $29,500 resistance zone<\/a>. BTC even broke the $30,000 resistance to move into a positive zone. However, it failed to extend its rally toward the $31,200 resistance.<\/p>\n
A high is formed near $30,794 and the price is now correcting lower. There was a move below the $30,250 level. The price traded below the 23.6% Fib retracement level of the upward move from the $28,661 swing low to the $30,794 high.<\/p>\n
Besides, there was a break below a connecting bullish trend line with support near $30,050 on the hourly chart of the BTC\/USD pair. Bitcoin price is still trading above $29,500 and the 100 hourly Simple moving average<\/a>.<\/p>\n
If the price remains stable above the $29,500 level, it could soon start a fresh increase. On the upside, the price is facing resistance near the $30,250 level. The next major resistance is near the $30,480 level. The main resistance is now forming near the $30,800 level.<\/p>\n
$\"Bitcoin$ <\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/p>\n
An upside break above the $30,800 resistance could start a fresh increase toward the $31,200 level. The next major resistance is near the $31,500 level, above which the price could rise toward the $32,000 resistance zone.<\/p>\n
Are Dips Limited in BTC?<\/h2>\n
If Bitcoin\u2019s price fails to clear the $30,480 resistance, it could continue to move down. Immediate support on the downside is near the $29,500 level. If there is a break below the $29,500 support, the price could see an extended downside correction.<\/p>\n
The next major support is near the $28,800 level or the 50% Fib retracement level of the upward move from the $28,661 swing low to the $30,794 high. Any more losses might send the price toward $28,200 in the near term.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is near the 50 level.<\/p>\n
Major Support Levels \u2013 $29,500, followed by $28,800.<\/p>\n
Major Resistance Levels \u2013 $30,250, $30,480, and $30,800.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price rallied toward $30,800 before the bears appeared. BTC is now correcting gains but dips could be attractive near the $28,800 zone. Bitcoin is currently correcting gains from the $30,800 zone. The price is trading above $29,500 and the 100 hourly Simple moving average. There was a break below a connecting bullish trend line with support near $30,050 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could correct lower but the bulls might be active near the $28,800 zone. Bitcoin Price Rally Fades Bitcoin price gained bullish momentum above the $29,500 resistance zone. BTC even broke the $30,000 resistance to move into a positive zone. However, it failed to extend its rally toward the $31,200 resistance. A high is formed near $30,794 and the price is now correcting lower. There was a move below the $30,250 level. The price traded below the 23.6% Fib retracement level of the upward move from the $28,661 swing low to the $30,794 high. Besides, there was a break below a connecting bullish trend line with support near $30,050 on the hourly chart of the BTC\/USD pair. Bitcoin price is still trading above $29,500 and the 100 hourly Simple moving average. If the price remains stable above the $29,500 level, it could soon start a fresh increase. On the upside, the price is facing resistance near the $30,250 level. The next major resistance is near the $30,480 level. The main resistance is now forming near the $30,800 level. Source: BTCUSD on TradingView.com An upside break above the $30,800 resistance could start a fresh increase toward the $31,200 level. The next major resistance is near the $31,500 level, above which the price could rise toward the $32,000 resistance zone. Are Dips Limited in BTC? If Bitcoin\u2019s price fails to clear the $30,480 resistance, it could continue to move down. Immediate support on the downside is near the $29,500 level. If there is a break below the $29,500 support, the price could see an extended downside correction. The next major support is near the $28,800 level or the 50% Fib retracement level of the upward move from the $28,661 swing low to the $30,794 high. Any more losses might send the price toward $28,200 in the near term. Technical indicators: Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is near the 50 level. Major Support Levels \u2013 $29,500, followed by $28,800. Major Resistance Levels \u2013 $30,250, $30,480, and $30,800.<\/p>\n","protected":false},"author":67,"featured_media":459739,"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-539279","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":"\nBitcoin Price Rally Pauses But Not Likely Over \u2013 Dips Turn Attractive<\/title>\n<meta name=\"description\" content=\"Bitcoin price rallied toward $30,800 before the bears appeared. 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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 Price Rally Pauses But Not Likely Over \u2013 Dips Turn Attractive","url":"http:\/\/wncen.com\/news\/bitcoin-price-rally-pauses-30800\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-price-rally-pauses-30800\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/Depositphotos_180246254_s-2019-1.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/Depositphotos_180246254_s-2019-1.jpg?fit=1000%2C667"},"articleSection":"Cryptocurrency Market News","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","bitcoin price","btcusd","btcusdt","xbtusd"],"dateCreated":"2023-06-23T02:52:43Z","datePublished":"2023-06-23T02:52:43Z","dateModified":"2024-06-11T08:28:48Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Rally Pauses But Not Likely Over \\u2013 Dips Turn Attractive\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-rally-pauses-30800\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-rally-pauses-30800\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/Depositphotos_180246254_s-2019-1.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/Depositphotos_180246254_s-2019-1.jpg?fit=1000%2C667\"},\"articleSection\":\"Cryptocurrency Market News\",\"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\",\"bitcoin price\",\"btcusd\",\"btcusdt\",\"xbtusd\"],\"dateCreated\":\"2023-06-23T02:52:43Z\",\"datePublished\":\"2023-06-23T02:52:43Z\",\"dateModified\":\"2024-06-11T08:28:48Z\"}<\/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\/2021\/03\/Depositphotos_180246254_s-2019-1.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/539279","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=539279"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/539279\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/459739"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=539279"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=539279"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=539279"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}