{"id":558708,"date":"2023-11-02T03:10:26","date_gmt":"2023-11-02T03:10:26","guid":{"rendered":"https:\/\/wncen.com\/?p=558708"},"modified":"2024-06-11T14:30:40","modified_gmt":"2024-06-11T14:30:40","slug":"bitcoin-price-resumes-rally-37k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-resumes-rally-37k\/","title":{"rendered":"Bitcoin Price Resumes Rally, Another 5% Increase On The Cards?"},"content":{"rendered":"<p><em>Bitcoin price cleared the key $35,000 resistance. BTC is showing positive signs and might rally toward the $36,200 and $37,000 levels in the near term.<\/em><\/p>\n<ul>\n<li>Bitcoin is gaining pace above the $35,000 resistance.<\/li>\n<li>The price is trading above $35,000 and the 100 hourly Simple moving average.<\/li>\n<li>There was a break above a rising channel with resistance at $34,850 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair is showing positive signs and might rise toward the $37,000 resistance in the near term.<\/li>\n<\/ul>\n<h2>Bitcoin Price Breaks Hurdle<\/h2>\n<p>Bitcoin price remained well-bid above the $34,000 support zone. BTC formed a base, completed a consolidation phase, and recently started a decent increase above the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-vulnerable-35k\/\" target=\"_blank\" rel=\"noopener \">$34,750 resistance<\/a>.<\/p>\n<p>There was a break above a rising channel with resistance at $34,850 on the hourly chart. The bulls were able to pump the price above the last swing high and $35,500. It traded to a new multi-week high at $35,945 and is still showing positive signs.<\/p>\n<p>Bitcoin is now trading above $34,260 and the 100 hourly Simple moving average. It is also well above the 23.6% Fib retracement level of the recent increase from the $34,120 swing low to the $35,945 high.<\/p>\n<p>On the upside, immediate resistance is near the $35,950 level. The next key resistance could be near $36,200. A clear move above the $36,200 resistance might open the doors for a decent 5% increase toward the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-hints-correction-33950\/\" target=\"_blank\" rel=\"noopener \">$37,000 resistance<\/a>.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Bitcoin-1.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-558709\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Bitcoin-1.png?resize=1024%2C468\" alt=\"Bitcoin Price\" width=\"1024\" height=\"468\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Bitcoin-1.png?w=1835 1835w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Bitcoin-1.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Bitcoin-1.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Bitcoin-1.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Bitcoin-1.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Bitcoin-1.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Bitcoin-1.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/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 key resistance could be $37,500, above which the price could rise toward $38,000. Any more gains might send BTC toward the $38,800 level.<\/p>\n<h2>Are Dips Limited In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $35,950 resistance zone, it could start a downside correction. Immediate support on the downside is near the $35,500 level.<\/p>\n<p>The next major support is near the $35,000 level or the 50% Fib retracement level of the recent increase from the $34,120 swing low to the $35,945 high. If there is a move below $35,000, there is a risk of more downsides. In the stated case, the price could drop toward the $34,500 level or the 100 hourly Simple moving average.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now in the overbought zone.<\/p>\n<p>Major Support Levels \u2013 $35,500, followed by $35,000.<\/p>\n<p>Major Resistance Levels \u2013 $35,950, $36,200, and $37,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price cleared the key $35,000 resistance. BTC is showing positive signs and might rally toward the $36,200 and $37,000 levels in the near term. Bitcoin is gaining pace above the $35,000 resistance. The price is trading above $35,000 and the 100 hourly Simple moving average. There was a break above a rising channel with resistance at $34,850 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is showing positive signs and might rise toward the $37,000 resistance in the near term. Bitcoin Price Breaks Hurdle Bitcoin price remained well-bid above the $34,000 support zone. BTC formed a base, completed a consolidation phase, and recently started a decent increase above the $34,750 resistance. There was a break above a rising channel with resistance at $34,850 on the hourly chart. The bulls were able to pump the price above the last swing high and $35,500. It traded to a new multi-week high at $35,945 and is still showing positive signs. Bitcoin is now trading above $34,260 and the 100 hourly Simple moving average. It is also well above the 23.6% Fib retracement level of the recent increase from the $34,120 swing low to the $35,945 high. On the upside, immediate resistance is near the $35,950 level. The next key resistance could be near $36,200. A clear move above the $36,200 resistance might open the doors for a decent 5% increase toward the $37,000 resistance. Source: BTCUSD on TradingView.com The next key resistance could be $37,500, above which the price could rise toward $38,000. Any more gains might send BTC toward the $38,800 level. Are Dips Limited In BTC? If Bitcoin fails to rise above the $35,950 resistance zone, it could start a downside correction. Immediate support on the downside is near the $35,500 level. The next major support is near the $35,000 level or the 50% Fib retracement level of the recent increase from the $34,120 swing low to the $35,945 high. If there is a move below $35,000, there is a risk of more downsides. In the stated case, the price could drop toward the $34,500 level or the 100 hourly Simple moving average. 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 in the overbought zone. Major Support Levels \u2013 $35,500, followed by $35,000. Major Resistance Levels \u2013 $35,950, $36,200, and $37,000.<\/p>\n","protected":false},"author":67,"featured_media":558710,"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-558708","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 Resumes Rally, Another 5% Increase On The Cards?<\/title>\n<meta name=\"description\" content=\"Bitcoin price cleared the key $35,000 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 Resumes Rally, Another 5% Increase On The Cards?","url":"http:\/\/wncen.com\/news\/bitcoin-price-resumes-rally-37k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-price-resumes-rally-37k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/iStock-1203525550.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/iStock-1203525550.jpg?fit=2127%2C1409"},"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":"2023-11-02T03:10:26Z","datePublished":"2023-11-02T03:10:26Z","dateModified":"2024-06-11T14:30:40Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Resumes Rally, Another 5% Increase On The Cards?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-resumes-rally-37k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-resumes-rally-37k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/iStock-1203525550.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/iStock-1203525550.jpg?fit=2127%2C1409\"},\"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\":\"2023-11-02T03:10:26Z\",\"datePublished\":\"2023-11-02T03:10:26Z\",\"dateModified\":\"2024-06-11T14:30:40Z\"}<\/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\/2023\/11\/iStock-1203525550.jpg?fit=2127%2C1409","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/558708"}],"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=558708"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/558708\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/558710"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=558708"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=558708"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=558708"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}