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{"id":546151,"date":"2023-08-08T06:21:22","date_gmt":"2023-08-08T06:21:22","guid":{"rendered":"https:\/\/wncen.com\/?p=546151"},"modified":"2024-06-11T10:23:28","modified_gmt":"2024-06-11T10:23:28","slug":"bitcoin-price-increase-29-5k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-increase-29-5k\/","title":{"rendered":"Bitcoin Price Could Stage Steady Increase If It Clears This Hurdle"},"content":{"rendered":"

Bitcoin price is still facing strong resistance near $29,500. BTC is slowly moving higher and might start a steady increase above $29,500.<\/em><\/p>\n

\n
Bitcoin is moving higher toward the $29,500 pivot level.<\/li>\n
The price is trading above $29,000 and the 100 hourly Simple moving average.<\/li>\n
There was a break above a key bearish trend line with resistance near $29,080 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could start a steady increase if there is a close above the $29,500 resistance zone.<\/li>\n<\/ul>\n
Bitcoin Price Eyes Fresh Increase<\/h2>\n
Bitcoin price extended its decline below the $28,800 support zone<\/a>. However, the downsides were limited below the $28,600 level. A low is formed near $28,628 and the price is now attempting a fresh increase.<\/p>\n
There was a move above the $28,900 and $29,000 levels. Besides, there was a break above a key bearish trend line with resistance near $29,080 on the hourly chart of the BTC\/USD pair. The pair is now trading above $29,000 and the 100 hourly Simple moving average<\/a>.<\/p>\n
A high is formed near $29,280 and the price is now consolidating gains. Bitcoin is trading above the 23.6% Fib retracement level of the upward move from the $28,628 swing low to the $29,280 high.<\/p>\n
$\"Bitcoin$ <\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/p>\n
Immediate resistance is near the $29,300 zone. The first major resistance is near the $29,400 level. The next major resistance is near the $29,500 level. A close above the $29,500 resistance might start a steady increase. In the stated case, the price could test $30,000. Any more gains might open the doors for a move toward $31,200.<\/p>\n
Fresh Decline In BTC?<\/h2>\n
If Bitcoin fails to clear the $29,400 resistance, it could start a fresh decline. Immediate support on the downside is near the $29,100 level the 100 hourly Simple moving average.<\/p>\n
The next major support is near the $28,800 level, below which the price could accelerate lower. The next support is near the $28,400 level. Any more losses might call for a move toward the $28,000 level in the near term.<\/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 $29,100, followed by $28,800.<\/p>\n
Major Resistance Levels \u2013 $29,300, $29,400, and $29,500.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price is still facing strong resistance near $29,500. BTC is slowly moving higher and might start a steady increase above $29,500. Bitcoin is moving higher toward the $29,500 pivot level. The price is trading above $29,000 and the 100 hourly Simple moving average. There was a break above a key bearish trend line with resistance near $29,080 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start a steady increase if there is a close above the $29,500 resistance zone. Bitcoin Price Eyes Fresh Increase Bitcoin price extended its decline below the $28,800 support zone. However, the downsides were limited below the $28,600 level. A low is formed near $28,628 and the price is now attempting a fresh increase. There was a move above the $28,900 and $29,000 levels. Besides, there was a break above a key bearish trend line with resistance near $29,080 on the hourly chart of the BTC\/USD pair. The pair is now trading above $29,000 and the 100 hourly Simple moving average. A high is formed near $29,280 and the price is now consolidating gains. Bitcoin is trading above the 23.6% Fib retracement level of the upward move from the $28,628 swing low to the $29,280 high. Source: BTCUSD on TradingView.com Immediate resistance is near the $29,300 zone. The first major resistance is near the $29,400 level. The next major resistance is near the $29,500 level. A close above the $29,500 resistance might start a steady increase. In the stated case, the price could test $30,000. Any more gains might open the doors for a move toward $31,200. Fresh Decline In BTC? If Bitcoin fails to clear the $29,400 resistance, it could start a fresh decline. Immediate support on the downside is near the $29,100 level the 100 hourly Simple moving average. The next major support is near the $28,800 level, below which the price could accelerate lower. The next support is near the $28,400 level. Any more losses might call for a move toward the $28,000 level in the near term. Technical indicators: Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level. Major Support Levels \u2013 $29,100, followed by $28,800. Major Resistance Levels \u2013 $29,300, $29,400, and $29,500.<\/p>\n","protected":false},"author":67,"featured_media":459593,"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":[428,679,1144,78790,76835],"class_list":["post-546151","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\nBitcoin Price Could Stage Steady Increase If It Clears This Hurdle<\/title>\n<meta name=\"description\" content=\"Bitcoin price is still facing strong resistance near $29,500. 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His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.","sameAs":["https:\/\/www.linkedin.com\/in\/aayush-jindal-358b6932\/","https:\/\/x.com\/twitter.com\/AayushJs"],"url":"https:\/\/wncen.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Price Could Stage Steady Increase If It Clears This Hurdle","url":"http:\/\/wncen.com\/news\/bitcoin-price-increase-29-5k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-price-increase-29-5k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/shutterstock_555674926.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/shutterstock_555674926.jpg?fit=1000%2C680"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin price","btcusd","btcusdt","xbtusd"],"dateCreated":"2023-08-08T06:21:22Z","datePublished":"2023-08-08T06:21:22Z","dateModified":"2024-06-11T10:23:28Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Could Stage Steady Increase If It Clears This Hurdle\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-increase-29-5k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-increase-29-5k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_555674926.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_555674926.jpg?fit=1000%2C680\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin price\",\"btcusd\",\"btcusdt\",\"xbtusd\"],\"dateCreated\":\"2023-08-08T06:21:22Z\",\"datePublished\":\"2023-08-08T06:21:22Z\",\"dateModified\":\"2024-06-11T10:23:28Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/shutterstock_555674926.jpg?fit=1000%2C680","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/546151","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=546151"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/546151\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/459593"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=546151"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=546151"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=546151"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}