{"id":456040,"date":"2021-02-05T03:28:37","date_gmt":"2021-02-05T03:28:37","guid":{"rendered":"https:\/\/wncen.com\/?p=456040"},"modified":"2024-06-11T12:59:50","modified_gmt":"2024-06-11T12:59:50","slug":"bitcoin-consolidated-above-36k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-consolidated-above-36k\/","title":{"rendered":"TA: Bitcoin Consolidated above $36K, Why BTC Could Start A Fresh Increase"},"content":{"rendered":"
Bitcoin price started a downside correction from the $38,000 resistance against the US Dollar. BTC is holding the $36,000 support and it could rise again in the near term.<\/em><\/p>\n
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Bitcoin extended its rise and it even cleared the $38,000 resistance (as discussed yesterday).<\/li>\n
The price is still trading above $36,375 and the 100 hourly simple moving average.<\/li>\n
There is a major contracting triangle forming with support near $37,350 and $36,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair is likely to break the triangle resistance at $37,500 to start a fresh increase.<\/li>\n<\/ul>\n