BTCUSD on TradingView.com<\/a><\/p>\nThe next major resistance is near $30,450. A close above the $30,450 level might start a fresh increase. In the stated case, the price could rise toward the $30,850 level. Any more gains could open the doors for a move toward the $31,200 resistance zone.<\/p>\n
More Losses in BTC?<\/h2>\n If Bitcoin fails to clear the $30,085 resistance, it could continue to move down. Immediate support on the downside is near the $29,800 level.<\/p>\n
The next major support is near the $29,500 level, below which the price could continue to move down. In the stated case, the price could drop toward the $29,200 support zone. Any more losses might send the price toward the $28,400 level in the near term.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now losing pace in the bearish 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 $29,650, followed by $29,500.<\/p>\n
Major Resistance Levels \u2013 $30,085, $30,450, and $31,200.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price is consolidating above $29,500. BTC could start a decent increase if it clears the $30,200 resistance zone in the near term. Bitcoin is struggling to gain bullish momentum from the $29,500 level. The price is trading below $30,100 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance near $30,020 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start a steady increase if there is a close above the $30,200 resistance. Bitcoin Price Holds Support Bitcoin price remained well-bid above the $29,500 level. BTC formed a support base and recently corrected a few points higher. There was a minor increase above the$29,850 resistance zone. The price climbed above the 50% Fib retracement level of the key drop from the $30,447 swing high to the $29,500 low. However, the bears are still active near the $30,050 level. There is also a key bearish trend line forming with resistance near $30,020 on the hourly chart of the BTC\/USD pair. Bitcoin is now trading below $30,100 and the 100 hourly Simple moving average. Immediate resistance is near the trend line zone. The first major resistance is near the $30,085 level. It is close to the 61.8% Fib retracement level of the key drop from the $30,447 swing high to the $29,500 low. Source: BTCUSD on TradingView.com The next major resistance is near $30,450. A close above the $30,450 level might start a fresh increase. In the stated case, the price could rise toward the $30,850 level. Any more gains could open the doors for a move toward the $31,200 resistance zone. More Losses in BTC? If Bitcoin fails to clear the $30,085 resistance, it could continue to move down. Immediate support on the downside is near the $29,800 level. The next major support is near the $29,500 level, below which the price could continue to move down. In the stated case, the price could drop toward the $29,200 support zone. Any more losses might send the price toward the $28,400 level in the near term. Technical indicators: Hourly MACD \u2013 The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level. Major Support Levels \u2013 $29,650, followed by $29,500. Major Resistance Levels \u2013 $30,085, $30,450, and $31,200.<\/p>\n","protected":false},"author":67,"featured_media":457732,"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-543435","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 Could Restart Increase As The Bears Lose Steam<\/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