{"id":489131,"date":"2022-04-28T03:08:54","date_gmt":"2022-04-28T03:08:54","guid":{"rendered":"https:\/\/wncen.com\/?p=489131"},"modified":"2024-06-11T11:29:57","modified_gmt":"2024-06-11T11:29:57","slug":"bitcoin-100-sma-key-39600","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-100-sma-key-39600\/","title":{"rendered":"TA: Bitcoin Near Make-or-Break Levels, Why 100 SMA Is The Key"},"content":{"rendered":"
Bitcoin started a recovery wave above the $38,400 resistance against the US Dollar. BTC must clear $39,600 to move into a positive zone.<\/em><\/p>\n Bitcoin price formed a base above the $38,000 and started a recovery wave<\/a>. BTC broke the $38,400 and $38,500 resistance levels. Download Bitcoin Miner Awesom Miner Official for Windows<\/a>. Safe install and earn ETH\/BTC.<\/p>\n There was a move above the 50% Fib retracement level of the key drop from the $40,775 swing high to $37,672 low. Bitcoin even climbed above the $39,500 level, but it faced sellers near the $39,600 level. It is now trading near $39,200 and the 100 hourly simple moving average<\/a>.<\/p>\n There is also a key bullish trend line forming with support near $39,220 on the hourly chart of the BTC\/USD pair. On the upside, an immediate resistance is near the $39,600 level.<\/p>\n The 61.8% Fib retracement level of the key drop from the $40,775 swing high to $37,672 low is also near the $39,600 level. The next key resistance could be near the $40,000 zone. A close above the $39,600 level and the 100 hourly simple moving average could open the doors for a decent increase.<\/p>\n <\/a><\/p>\n In the stated case, the price could even surpass the $40,000 resistance. The next major resistance may perhaps be near the $40,770 zone.<\/p>\n If bitcoin fails to clear the $39,600 resistance zone, it could start a fresh decline. An immediate support on the downside is near the $39,250 level.<\/p>\n\n
Bitcoin Price Recovers Ground<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Fresh Decline in BTC?<\/h2>\n