{"id":490939,"date":"2022-05-20T03:08:00","date_gmt":"2022-05-20T03:08:00","guid":{"rendered":"https:\/\/wncen.com\/?p=490939"},"modified":"2024-06-11T14:20:52","modified_gmt":"2024-06-11T14:20:52","slug":"bitcoin-reclaims-30k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-reclaims-30k\/","title":{"rendered":"TA: Bitcoin Reclaims $30K, Why Bulls Face Uphill Task"},"content":{"rendered":"
Bitcoin started a fresh increase from the $28,500 support zone against the US Dollar. BTC must clear $30,600 to move further into a positive zone.<\/em><\/p>\n Bitcoin price found support near the $28,500 zone after a steady decline<\/a>. A base was formed near $28,600 and started a fresh increase.<\/p>\n There was a clear move above the $29,500 resistance zone and the 100 hourly simple moving average<\/a>. The bulls even pushed the price above the $30,000 resistance zone. However, they are now facing an uphill task near the $30,600 zone. Download Bitcoin Miner Awesom Miner Official for Windows<\/a>. Safe install and earn ETH\/BTC.<\/p>\n There is also a major bearish trend line forming with resistance near $30,400 on the hourly chart of the BTC\/USD pair. A high is formed near $30,721 and the price is now consolidating gains.<\/p>\n The price is trading above the 23.6% Fib retracement level of the upward move from the $28,590 swing low to $30,721 high. An immediate resistance is near the $30,400 level. The next major resistance is near the $30,600 level.<\/p>\n <\/a><\/p>\n A clear move above the $30,400 and $30,600 resistance levels might start a fresh increase in the near term. The next key resistance could be near the $31,500 level, above which the price might gain bullish momentum.<\/p>\n If bitcoin fails to gain pace above the $30,600 resistance zone, it could start a fresh decline. An immediate support on the downside is near the $30,000 level. The first major support is near the $29,800 level and the 100 hourly SMA.<\/p>\n\n
Bitcoin Price Is Facing Resistance<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Fresh Decline in BTC?<\/h2>\n