{"id":540043,"date":"2023-06-28T02:32:40","date_gmt":"2023-06-28T02:32:40","guid":{"rendered":"https:\/\/wncen.com\/?p=540043"},"modified":"2024-06-11T14:38:06","modified_gmt":"2024-06-11T14:38:06","slug":"bitcoin-price-consolidates-below-31k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-consolidates-below-31k\/","title":{"rendered":"Bitcoin Price Consolidates Below $31K As The Bulls Take Back Seat"},"content":{"rendered":"<p><em>Bitcoin price is still struggling to clear the $31,000 resistance. BTC is trading in a range and might revisit the $30,000 support zone.<\/em><\/p>\n<ul>\n<li>Bitcoin is consolidating above the $30,000 support zone.<\/li>\n<li>The price is trading just below $30,500 and the 100 hourly Simple moving average.<\/li>\n<li>There was a break above a major bearish trend line with resistance near $30,300 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could correct lower toward the $30,000 support or even $29,550.<\/li>\n<\/ul>\n<h2>Bitcoin Price Faces Resistance<\/h2>\n<p>Bitcoin price <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-aims-higher-30500\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">remained supported near the $30,000 zone<\/a>. BTC traded as low as $29,914 and recently started a fresh increase. There was a move above the $30,200 and $30,250 levels.<\/p>\n<p>The price cleared the 50% Fib retracement level of the downward move from the $31,436 swing high to the $29,914 low. Besides, there was a break above a major bearish trend line with resistance near $30,300 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>However, the bears seem to be active near the $31,000 resistance zone. Bitcoin struggled to clear the 76.4% Fib retracement level of the downward move from the $31,436 swing high to the $29,914 low.<\/p>\n<p>The price is now trading just below $30,500 and the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-correction-29200\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">100 hourly Simple moving average<\/a>. Immediate resistance is near the $30,680 level. The first major resistance is near the $30,950 level, above which the price might revisit the $31,400 resistance zone.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-540044\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/Bitcoin-19.png?resize=1835%2C845\" alt=\"Bitcoin Price\" width=\"1835\" height=\"845\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/Bitcoin-19.png?w=1835 1835w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/Bitcoin-19.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/Bitcoin-19.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/Bitcoin-19.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/Bitcoin-19.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/Bitcoin-19.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/Bitcoin-19.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/p>\n<p>The next major resistance is near the $32,000 level. An upside break above the $32,000 resistance might send BTC toward $32,500. Any more gains could open the doors for a move toward the $33,200 resistance zone.<\/p>\n<h2>More Losses in BTC?<\/h2>\n<p>If Bitcoin\u2019s price fails to clear the $30,950 resistance, it could continue to move down. Immediate support on the downside is near the $30,250 level or the broken trend line zone.<\/p>\n<p>The next major support is near the $30,000 level, below which there could be a drop toward the $29,550 support. Any more losses might send the price toward the $28,750 support region in the near term.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now losing pace in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $30,000, followed by $29,550.<\/p>\n<p>Major Resistance Levels \u2013 $30,680, $30,950, and $31,400.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is still struggling to clear the $31,000 resistance. BTC is trading in a range and might revisit the $30,000 support zone. Bitcoin is consolidating above the $30,000 support zone. The price is trading just below $30,500 and the 100 hourly Simple moving average. There was a break above a major bearish trend line with resistance near $30,300 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could correct lower toward the $30,000 support or even $29,550. Bitcoin Price Faces Resistance Bitcoin price remained supported near the $30,000 zone. BTC traded as low as $29,914 and recently started a fresh increase. There was a move above the $30,200 and $30,250 levels. The price cleared the 50% Fib retracement level of the downward move from the $31,436 swing high to the $29,914 low. Besides, there was a break above a major bearish trend line with resistance near $30,300 on the hourly chart of the BTC\/USD pair. However, the bears seem to be active near the $31,000 resistance zone. Bitcoin struggled to clear the 76.4% Fib retracement level of the downward move from the $31,436 swing high to the $29,914 low. The price is now trading just below $30,500 and the 100 hourly Simple moving average. Immediate resistance is near the $30,680 level. The first major resistance is near the $30,950 level, above which the price might revisit the $31,400 resistance zone. Source: BTCUSD on TradingView.com The next major resistance is near the $32,000 level. An upside break above the $32,000 resistance might send BTC toward $32,500. Any more gains could open the doors for a move toward the $33,200 resistance zone. More Losses in BTC? If Bitcoin\u2019s price fails to clear the $30,950 resistance, it could continue to move down. Immediate support on the downside is near the $30,250 level or the broken trend line zone. The next major support is near the $30,000 level, below which there could be a drop toward the $29,550 support. Any more losses might send the price toward the $28,750 support region in the near term. Technical indicators: Hourly MACD \u2013 The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is below the 50 level. Major Support Levels \u2013 $30,000, followed by $29,550. Major Resistance Levels \u2013 $30,680, $30,950, and $31,400.<\/p>\n","protected":false},"author":67,"featured_media":454689,"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-540043","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<title>Bitcoin Price Consolidates Below $31K As The Bulls Take Back Seat<\/title>\n<meta name=\"description\" content=\"Bitcoin price is still struggling to clear the $31,000 resistance. 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Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation. As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. 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 Consolidates Below $31K As The Bulls Take Back Seat","url":"http:\/\/wncen.com\/news\/bitcoin-price-consolidates-below-31k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-price-consolidates-below-31k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/01\/shutterstock_1439986673-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/01\/shutterstock_1439986673-scaled.jpg?fit=2560%2C1810"},"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":"2023-06-28T02:32:40Z","datePublished":"2023-06-28T02:32:40Z","dateModified":"2024-06-11T14:38:06Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Consolidates Below $31K As The Bulls Take Back Seat\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-consolidates-below-31k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-consolidates-below-31k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/01\\\/shutterstock_1439986673-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/01\\\/shutterstock_1439986673-scaled.jpg?fit=2560%2C1810\"},\"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\":\"2023-06-28T02:32:40Z\",\"datePublished\":\"2023-06-28T02:32:40Z\",\"dateModified\":\"2024-06-11T14:38:06Z\"}<\/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\/01\/shutterstock_1439986673-scaled.jpg?fit=2560%2C1810","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/540043"}],"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=540043"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/540043\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/454689"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=540043"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=540043"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=540043"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}