{"id":466163,"date":"2021-06-24T03:08:09","date_gmt":"2021-06-24T03:08:09","guid":{"rendered":"https:\/\/wncen.com\/?p=466163"},"modified":"2024-06-11T13:56:35","modified_gmt":"2024-06-11T13:56:35","slug":"bitcoin-tops-near-35k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-tops-near-35k\/","title":{"rendered":"TA: Bitcoin Tops Near $35K, What Could Trigger Fresh Decline To $30K"},"content":{"rendered":"
Bitcoin price recovered above $33,000, but it failed to climb above $35,000 against the US Dollar. BTC is retreating from the 100 hourly SMA and it could extend its losses.<\/em><\/p>\n Bitcoin started a steady increase<\/a> above the $33,000 and $33,500 resistance levels. BTC even spiked above the $34,000 resistance zone, but it failed to gain pace above the 100 hourly simple moving average.<\/p>\n It is now facing hurdles near $34,000 and the 100 hourly simple moving average. A high was formed near $34,877 and the price is now correcting gains. It declined below the 23.6% Fib retracement level of the recent recovery from the $28,900 swing low to $34,877 high.<\/p>\n An immediate support on the downside is near the $31,800 level. It is near the 50% Fib retracement level of the recent recovery from the $28,900 swing low to $34,877 high.<\/p>\n On the upside, an initial resistance is near the $33,800 level. There is also a crucial bearish trend line forming with resistance near $33,800 on the hourly chart of the BTC\/USD pair. The main resistance<\/a> is still near the $34,000 zone.<\/p>\n <\/a><\/p>\n Bitcoin must clear the 100 hourly SMA and then settle above the $34,000 zone to move into a positive zone. The next major resistance for the bulls could be $35,000.<\/p>\n If bitcoin fails to clear the $34,000 resistance or the trend line resistance, it could continue to move down. An immediate support on the downside is near the $31,800 level.<\/p>\n The next major support is near the $31,200 level. A downside break below $31,200 could open the doors for a fresh drop towards the $30,000 zone in the coming sessions.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is now moving into the bearish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is back below the 50 level.<\/p>\n Major Support Levels \u2013 $31,800, followed by $31,200.<\/p>\n Major Resistance Levels \u2013 $33,800, $34,000 and $35,000.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin price recovered above $33,000, but it failed to climb above $35,000 against the US Dollar. BTC is retreating from the 100 hourly SMA and it could extend its losses. Bitcoin started a decent recovery and it climbed above the $34,000 level. The price is now facing hurdles near $34,000 and the 100 hourly simple moving average. There is a crucial bearish trend line forming with resistance near $33,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair must clear the 100 hourly SMA and $34,000 to continue higher in the near term. Bitcoin Price is Facing Hurdles Bitcoin started a steady increase above the $33,000 and $33,500 resistance levels. BTC even spiked above the $34,000 resistance zone, but it failed to gain pace above the 100 hourly simple moving average. It is now facing hurdles near $34,000 and the 100 hourly simple moving average. A high was formed near $34,877 and the price is now correcting gains. It declined below the 23.6% Fib retracement level of the recent recovery from the $28,900 swing low to $34,877 high. An immediate support on the downside is near the $31,800 level. It is near the 50% Fib retracement level of the recent recovery from the $28,900 swing low to $34,877 high. On the upside, an initial resistance is near the $33,800 level. There is also a crucial bearish trend line forming with resistance near $33,800 on the hourly chart of the BTC\/USD pair. The main resistance is still near the $34,000 zone. Source: BTCUSD on TradingView.com Bitcoin must clear the 100 hourly SMA and then settle above the $34,000 zone to move into a positive zone. The next major resistance for the bulls could be $35,000. More Losses in BTC? If bitcoin fails to clear the $34,000 resistance or the trend line resistance, it could continue to move down. An immediate support on the downside is near the $31,800 level. The next major support is near the $31,200 level. A downside break below $31,200 could open the doors for a fresh drop towards the $30,000 zone in the coming sessions. Technical indicators: Hourly MACD \u2013 The MACD is now moving into the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is back below the 50 level. Major Support Levels \u2013 $31,800, followed by $31,200. Major Resistance Levels \u2013 $33,800, $34,000 and $35,000.<\/p>\n","protected":false},"author":67,"featured_media":458340,"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-466163","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 Facing Hurdles<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
More Losses in BTC?<\/h2>\n