{"id":560913,"date":"2023-11-16T03:45:21","date_gmt":"2023-11-16T03:45:21","guid":{"rendered":"https:\/\/wncen.com\/?p=560913"},"modified":"2024-06-11T07:44:42","modified_gmt":"2024-06-11T07:44:42","slug":"bitcoin-price-rallies-38k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-rallies-38k\/","title":{"rendered":"Bitcoin Price Rallies 5% and Seems Primed To Clear the $38K Hurdle"},"content":{"rendered":"<p><em>Bitcoin price restarted its increase from the $34,650 support. BTC is up over 5% and now attempting a move above the $38,000 resistance zone.<\/em><\/p>\n<ul>\n<li>Bitcoin started a fresh rally from the $34,650 support zone.<\/li>\n<li>The price is trading above $36,500 and the 100 hourly Simple moving average.<\/li>\n<li>There was a break above a major bearish trend line with resistance near $36,300 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could continue to move up if it clears the $38,000 resistance zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Trims All Losses<\/h2>\n<p>Bitcoin price started a downside correction from the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-takes-hit-34650\/\" target=\"_blank\" rel=\"noopener \">$38,000 resistance<\/a>. BTC declined below the $36,000 and $35,500 levels. The price even spiked below $35,000. However, the bulls were active near the $34,650 support zone.<\/p>\n<p>A low was formed near $34,666 and the price started a fresh increase. There was a sharp increase above the $36,000 and $37,000 levels. There was also a break above a major bearish trend line with resistance near $36,300 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>Bitcoin price is up over 5% and it retested the $38,000 resistance zone. A high is formed near $37,950 and the price is now consolidating gains. It is also trading above $36,500 and the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-lacks-momentum-37k\/\" target=\"_blank\" rel=\"noopener \">100 hourly Simple moving average<\/a> and the 23.6% Fib retracement level of the upward move from the $34,666 swing low to the $37,950 high.<\/p>\n<p>On the upside, immediate resistance is near the $37,850 level. The next key resistance could be near $38,000 or the recent high. A close above the $38,000 resistance could start a strong increase.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Bitcoin-15.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-560914\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Bitcoin-15.png?resize=1024%2C468\" alt=\"Bitcoin Price \" width=\"1024\" height=\"468\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Bitcoin-15.png?w=1835 1835w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Bitcoin-15.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Bitcoin-15.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Bitcoin-15.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Bitcoin-15.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Bitcoin-15.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/Bitcoin-15.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/p>\n<p>The first major resistance is near $38,800, above which the price might accelerate further higher. In the stated case, it could test the $39,200 level. Any more gains might send BTC toward the $40,000 level.<\/p>\n<h2>More Losses In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $38,000 resistance zone, it could start another downside correction. Immediate support on the downside is near the $37,450 level.<\/p>\n<p>The next major support is $36,500 or the 100 hourly Simple moving average. If there is a move below $36,500, there is a risk of more downsides. In the stated case, the price could drop toward the $35,850 support in the near term.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now losing pace in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 60 level.<\/p>\n<p>Major Support Levels \u2013 $37,450, followed by $36,500.<\/p>\n<p>Major Resistance Levels \u2013 $37,850, $38,000, and $38,800.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price restarted its increase from the $34,650 support. BTC is up over 5% and now attempting a move above the $38,000 resistance zone. Bitcoin started a fresh rally from the $34,650 support zone. The price is trading above $36,500 and the 100 hourly Simple moving average. There was a break above a major bearish trend line with resistance near $36,300 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could continue to move up if it clears the $38,000 resistance zone. Bitcoin Price Trims All Losses Bitcoin price started a downside correction from the $38,000 resistance. BTC declined below the $36,000 and $35,500 levels. The price even spiked below $35,000. However, the bulls were active near the $34,650 support zone. A low was formed near $34,666 and the price started a fresh increase. There was a sharp increase above the $36,000 and $37,000 levels. There was also a break above a major bearish trend line with resistance near $36,300 on the hourly chart of the BTC\/USD pair. Bitcoin price is up over 5% and it retested the $38,000 resistance zone. A high is formed near $37,950 and the price is now consolidating gains. It is also trading above $36,500 and the 100 hourly Simple moving average and the 23.6% Fib retracement level of the upward move from the $34,666 swing low to the $37,950 high. On the upside, immediate resistance is near the $37,850 level. The next key resistance could be near $38,000 or the recent high. A close above the $38,000 resistance could start a strong increase. Source: BTCUSD on TradingView.com The first major resistance is near $38,800, above which the price might accelerate further higher. In the stated case, it could test the $39,200 level. Any more gains might send BTC toward the $40,000 level. More Losses In BTC? If Bitcoin fails to rise above the $38,000 resistance zone, it could start another downside correction. Immediate support on the downside is near the $37,450 level. The next major support is $36,500 or the 100 hourly Simple moving average. If there is a move below $36,500, there is a risk of more downsides. In the stated case, the price could drop toward the $35,850 support in the near term. Technical indicators: Hourly MACD \u2013 The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 60 level. Major Support Levels \u2013 $37,450, followed by $36,500. Major Resistance Levels \u2013 $37,850, $38,000, and $38,800.<\/p>\n","protected":false},"author":67,"featured_media":459898,"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-560913","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":"\n<title>Bitcoin Price Rallies 5% and Seems Primed To Clear the $38K Hurdle<\/title>\n<meta name=\"description\" content=\"Bitcoin price restarted its increase from the $34,650 support. 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Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation. As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. 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 Rallies 5% and Seems Primed To Clear the $38K Hurdle","url":"http:\/\/wncen.com\/news\/bitcoin-price-rallies-38k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-price-rallies-38k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/shutterstock_350833328-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/shutterstock_350833328-scaled.jpg?fit=2560%2C1809"},"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":"2023-11-16T03:45:21Z","datePublished":"2023-11-16T03:45:21Z","dateModified":"2024-06-11T07:44:42Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Rallies 5% and Seems Primed To Clear the $38K Hurdle\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-rallies-38k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-rallies-38k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_350833328-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_350833328-scaled.jpg?fit=2560%2C1809\"},\"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\":\"2023-11-16T03:45:21Z\",\"datePublished\":\"2023-11-16T03:45:21Z\",\"dateModified\":\"2024-06-11T07:44:42Z\"}<\/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_350833328-scaled.jpg?fit=2560%2C1809","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/560913"}],"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=560913"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/560913\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/459898"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=560913"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=560913"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=560913"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}