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{"id":562934,"date":"2023-11-29T03:12:19","date_gmt":"2023-11-29T03:12:19","guid":{"rendered":"https:\/\/wncen.com\/?p=562934"},"modified":"2024-06-11T08:01:40","modified_gmt":"2024-06-11T08:01:40","slug":"bitcoin-price-avoids-collapse-38500","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-avoids-collapse-38500\/","title":{"rendered":"Bitcoin Price Avoids Collapse But Can Bulls Clear This Major Hurdle?"},"content":{"rendered":"

Bitcoin price trimmed losses and climbed above $37,750. BTC gained pace but it is still struggling to clear the $38,500 resistance zone.<\/em><\/p>\n

\n
Bitcoin is again facing heavy resistance near the $38,500 zone.<\/li>\n
The price is trading above $37,500 and the 100 hourly Simple moving average.<\/li>\n
There was a break above a major bearish trend line with resistance near $37,250 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair is struggling to clear the $38,500 resistance and correcting gains.<\/li>\n<\/ul>\n
Bitcoin Price Extends Decline<\/h2>\n
Bitcoin price revisited the $36,720 support zone<\/a>. BTC managed to avoid a collapse and started a fresh increase above the $37,000 level. There was a clear move above the $37,500 level.<\/p>\n
Besides, there was a break above a major bearish trend line with resistance near $37,250 on the hourly chart of the BTC\/USD pair. The pair surged above the $37,750 resistance. However, the bears were again active near the $38,500 resistance.<\/p>\n
A high was formed near $38,390 and the price is now correcting gains. There was a move below the 23.6% Fib retracement level of the recent wave from the $36,720 swing low to the $38,390 high.<\/p>\n
Bitcoin is now trading above $37,500 and the 100 hourly Simple moving average<\/a>. On the upside, immediate resistance is near the $38,200 level. The first major resistance is forming near $38,400. The main resistance is now near the $38,500 level. A close above the $38,500 resistance might start a strong increase.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/p>\n
The next key resistance could be near $39,200, above which BTC could rise toward the $39,500 level. Any more gains might send BTC toward the $40,000 resistance.<\/p>\n
Another Drop In BTC?<\/h2>\n
If Bitcoin fails to rise above the $38,400 resistance zone, it could start another decline. Immediate support on the downside is near the $37,600 level.<\/p>\n
The next major support is $37,500 or the 50% Fib retracement level of the recent wave from the $36,720 swing low to the $38,390 high. If there is a move below $37,500, there is a risk of more downsides. In the stated case, the price could drop toward the $36,720 support in the near term.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now losing 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 $37,600, followed by $37,500.<\/p>\n
Major Resistance Levels \u2013 $38,400, $38,500, and $39,200.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price trimmed losses and climbed above $37,750. BTC gained pace but it is still struggling to clear the $38,500 resistance zone. Bitcoin is again facing heavy resistance near the $38,500 zone. The price is trading above $37,500 and the 100 hourly Simple moving average. There was a break above a major bearish trend line with resistance near $37,250 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is struggling to clear the $38,500 resistance and correcting gains. Bitcoin Price Extends Decline Bitcoin price revisited the $36,720 support zone. BTC managed to avoid a collapse and started a fresh increase above the $37,000 level. There was a clear move above the $37,500 level. Besides, there was a break above a major bearish trend line with resistance near $37,250 on the hourly chart of the BTC\/USD pair. The pair surged above the $37,750 resistance. However, the bears were again active near the $38,500 resistance. A high was formed near $38,390 and the price is now correcting gains. There was a move below the 23.6% Fib retracement level of the recent wave from the $36,720 swing low to the $38,390 high. Bitcoin is now trading above $37,500 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $38,200 level. The first major resistance is forming near $38,400. The main resistance is now near the $38,500 level. A close above the $38,500 resistance might start a strong increase. Source: BTCUSD on TradingView.com The next key resistance could be near $39,200, above which BTC could rise toward the $39,500 level. Any more gains might send BTC toward the $40,000 resistance. Another Drop In BTC? If Bitcoin fails to rise above the $38,400 resistance zone, it could start another decline. Immediate support on the downside is near the $37,600 level. The next major support is $37,500 or the 50% Fib retracement level of the recent wave from the $36,720 swing low to the $38,390 high. If there is a move below $37,500, there is a risk of more downsides. In the stated case, the price could drop toward the $36,720 support 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 now above the 50 level. Major Support Levels \u2013 $37,600, followed by $37,500. Major Resistance Levels \u2013 $38,400, $38,500, and $39,200.<\/p>\n","protected":false},"author":67,"featured_media":462274,"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-562934","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 Avoids Collapse But Can Bulls Clear This Major Hurdle?<\/title>\n<meta name=\"description\" content=\"Bitcoin price trimmed losses and climbed above $37,750. 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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 Avoids Collapse But Can Bulls Clear This Major Hurdle?","url":"http:\/\/wncen.com\/news\/bitcoin-price-avoids-collapse-38500\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-price-avoids-collapse-38500\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/Depositphotos_179514440_s-2019.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/Depositphotos_179514440_s-2019.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":"2023-11-29T03:12:19Z","datePublished":"2023-11-29T03:12:19Z","dateModified":"2024-06-11T08:01:40Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Avoids Collapse But Can Bulls Clear This Major Hurdle?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-avoids-collapse-38500\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-avoids-collapse-38500\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/Depositphotos_179514440_s-2019.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/Depositphotos_179514440_s-2019.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\":\"2023-11-29T03:12:19Z\",\"datePublished\":\"2023-11-29T03:12:19Z\",\"dateModified\":\"2024-06-11T08:01:40Z\"}<\/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\/2021\/04\/Depositphotos_179514440_s-2019.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/562934","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=562934"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/562934\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/462274"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=562934"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=562934"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=562934"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}