{"id":524066,"date":"2023-03-22T03:58:54","date_gmt":"2023-03-22T03:58:54","guid":{"rendered":"https:\/\/wncen.com\/?p=524066"},"modified":"2024-06-11T09:55:51","modified_gmt":"2024-06-11T09:55:51","slug":"bitcoin-price-leg-higher-over-28-5k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-leg-higher-over-28-5k\/","title":{"rendered":"Bitcoin Price Looks Ready For Another Leg Higher Over $28.5K"},"content":{"rendered":"
[vc_row][vc_column][vc_column_text]Bitcoin price is attempting an upside break above the $28,500 resistance zone. BTC could rally if there is a close above the $28,500 resistance zone.<\/em><\/p>\n Bitcoin price made another attempt to clear the $28,500 resistance zone<\/a>. However, BTC struggled to gain pace for a close above the $28,500 resistance zone.<\/p>\n As a result, there was a downside correction below the $28,000 level. The price spiked below the 50% Fib retracement level of the upward move from the $23,912 swing low to $28,591 high. It tested the key $27,400 support zone and the 100 hourly simple moving average.<\/p>\n The bulls protected the 61.8% Fib retracement level of the upward move from the $23,912 swing low to $28,591 high. There is also a key bullish trend line forming with support near $27,780 on the hourly chart of the BTC\/USD pair.<\/p>\n Bitcoin price is now trading above $27,500 and the 100 hourly simple moving average. On the upside, an immediate resistance is near the $28,400 level.<\/p>\n <\/a><\/p>\n Source: BTCUSD on TradingView.com<\/a><\/p>\n The next major resistance is near the $28,500 zone or the recent high. A close above the $28,500 resistance might start another major increase. In the stated case, the price could rise towards the $29,200 level. Any more gains might send the price towards the $30,000 resistance zone<\/a>.<\/p>\n If bitcoin price fails to clear the $28,500 resistance, it could start a downside correction. An immediate support on the downside is near the $27,780 zone, the 100 hourly simple moving average, and the trend line.<\/p>\n The next major support is near the $27,000 zone. Any more losses might send the price towards the $26,200 support zone. The next major support is near the $25,700 level.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n Major Support Levels \u2013 $27,780, followed by $27,000.<\/p>\n Major Resistance Levels \u2013 $28,400, $28,500 and $30,000.<\/p>\n\n
Bitcoin Price Eyes More Gains<\/h2>\n
Dips Limited in BTC?<\/h2>\n