{"id":448815,"date":"2020-11-04T03:28:15","date_gmt":"2020-11-04T03:28:15","guid":{"rendered":"https:\/\/wncen.com\/?p=448815"},"modified":"2024-06-11T07:56:40","modified_gmt":"2024-06-11T07:56:40","slug":"bitcoin-holds-strong-14k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-holds-strong-14k\/","title":{"rendered":"TA: Bitcoin Holds Strong, Why 100 SMA Could Trigger Solid Gains Above $14K"},"content":{"rendered":"
Bitcoin price remained well bid above $13,300 and started a fresh increase against the US Dollar. BTC is back above $13,700 and it is likely to continue higher in the near term.<\/em><\/p>\n After retesting the $13,300 support zone<\/a>, bitcoin price started a fresh increase. There was a steady rise above the $13,500 and $13,600 resistance levels. BTC even surged above $13,800 and settled above the 100 hourly simple moving average.<\/p>\n There was also a break above a major bearish trend line with resistance near $13,700 on the hourly chart of the BTC\/USD pair. Finally, there was a spike above the $14,000 resistance<\/a>. A high is formed near $14,065 and the price is currently correcting gains.<\/p>\n It broke the $13,800 level, and traded below the 23.6% Fib retracement level of the recent increase from the $13,306 swing low to $14,065 high.<\/p>\n <\/a><\/p>\n The bulls are now defending the $13,700 zone and the 100 hourly simple moving average. The 50% Fib retracement level of the recent increase from the $13,306 swing low to $14,065 high is also near the $13,685 level to act as a strong support.<\/p>\n On the upside, the $13,880 level is an initial resistance. A clear break above $13,880 and then a follow up move above the $14,000 resistance could increase the chances of a sharp rise towards the $14,500 level in the coming sessions.<\/p>\n If bitcoin fails to regain strength above $13,880, there is a risk of a fresh decline. The first major support on the downside is near the $13,680 level and the 100 hourly SMA.<\/p>\n A downside break below the $13,680 level and the 100 hourly SMA may possibly start another decline towards the $13,400 and $13,300 levels in the near term.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is slowly losing momentum in the bullish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is still well above the 50 level.<\/p>\n Major Support Levels \u2013 $13,680, followed by $13,500.<\/p>\n Major Resistance Levels \u2013 $13,880, $14,000 and $14,500.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin price remained well bid above $13,300 and started a fresh increase against the US Dollar. BTC is back above $13,700 and it is likely to continue higher in the near term. Bitcoin started a fresh upward move after it found a strong support near $13,300. The price is now trading well above $13,600 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $13,700 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is consolidating gains above the 100 hourly SMA and it could climb again above $13,800. Bitcoin Price is Showing Positive Signs After retesting the $13,300 support zone, bitcoin price started a fresh increase. There was a steady rise above the $13,500 and $13,600 resistance levels. BTC even surged above $13,800 and settled above the 100 hourly simple moving average. There was also a break above a major bearish trend line with resistance near $13,700 on the hourly chart of the BTC\/USD pair. Finally, there was a spike above the $14,000 resistance. A high is formed near $14,065 and the price is currently correcting gains. It broke the $13,800 level, and traded below the 23.6% Fib retracement level of the recent increase from the $13,306 swing low to $14,065 high. Source: BTCUSD on TradingView.com The bulls are now defending the $13,700 zone and the 100 hourly simple moving average. The 50% Fib retracement level of the recent increase from the $13,306 swing low to $14,065 high is also near the $13,685 level to act as a strong support. On the upside, the $13,880 level is an initial resistance. A clear break above $13,880 and then a follow up move above the $14,000 resistance could increase the chances of a sharp rise towards the $14,500 level in the coming sessions. Fresh Decline in BTC? If bitcoin fails to regain strength above $13,880, there is a risk of a fresh decline. The first major support on the downside is near the $13,680 level and the 100 hourly SMA. A downside break below the $13,680 level and the 100 hourly SMA may possibly start another decline towards the $13,400 and $13,300 levels in the near term. Technical indicators: Hourly MACD \u2013 The MACD is slowly losing momentum in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is still well above the 50 level. Major Support Levels \u2013 $13,680, followed by $13,500. Major Resistance Levels \u2013 $13,880, $14,000 and $14,500.<\/p>\n","protected":false},"author":67,"featured_media":448817,"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":[428,1144,78790,76835],"class_list":["post-448815","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n\n
Bitcoin Price is Showing Positive Signs<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Fresh Decline in BTC?<\/h2>\n