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{"id":421286,"date":"2020-04-20T03:28:18","date_gmt":"2020-04-20T03:28:18","guid":{"rendered":"https:\/\/uniquehot.com\/?p=421286"},"modified":"2024-06-11T13:47:41","modified_gmt":"2024-06-11T13:47:41","slug":"bitcoin-btc-gearing-lift-off-to-8k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-btc-gearing-lift-off-to-8k\/","title":{"rendered":"Bitcoin is Consolidating Above 100 SMA and Likely Gearing For Lift-off To $8K"},"content":{"rendered":"

Bitcoin gained traction and settled above the $7,000 resistance against the US Dollar. BTC price is consolidating gains above the 100 hourly SMA and likely to grind higher towards $7,500.<\/em><\/p>\n

\n
Bitcoin is rising steadily and it is positioned nicely above $7,000 against the US Dollar.<\/li>\n
There is a strong support base forming near the $7,050 and $7,000 levels.<\/li>\n
There is a major bullish trend line forming with support near $7,100 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair is likely to continue higher towards $7,500 as long as it is above the 100 hourly SMA.<\/li>\n<\/ul>\n
Bitcoin Turns Green<\/h2>\n
After a successful break above the $6,800 resistance, bitcoin price gained bullish momentum<\/a> against the US Dollar. BTC extended its rise above the $7,000 resistance and the 100 hourly simple moving average.<\/p>\n
It even surpassed the $7,200 resistance and traded as high as $7,302 before starting a downside correction. The bears were able to push the price below the $7,100 level, but the bulls were able to protect the $7,050 region.<\/p>\n
Bitcoin formed a low at $7,066 and remained stable above the 100 hourly simple moving average. It seems like there is a strong support base forming near the $7,050 level. Moreover, there is a major bullish trend line forming with support near $7,100 on the hourly chart<\/a> of the BTC\/USD pair.<\/p>\n
$\"Bitcoin$ <\/a>
Bitcoin Price<\/figcaption><\/figure>\n
The price is currently rising and trading near the 50% Fib retracement level of the recent decline from the $7,302 high to $7,066 low. An immediate resistance on the upside is near the $7,215 and $7,220 levels.<\/p>\n
The first key hurdle is near the $7,250 level or the 76.4% Fib retracement level of the recent decline from the $7,302 high to $7,066 low. A successful break above the $7,250 level could open the doors for more upsides towards the $7,300 and $7,400 levels. The next major resistance is near the $7,500 level.<\/p>\n
Key Breakdown Zone<\/h2>\n
On the downside, there is a major support near the $7,050 level and the 100 hourly SMA<\/a>. If bitcoin fails to stay above the $7,050 and $7,000 support levels, it could start a fresh decline.<\/p>\n
A successful close below the $7,000 support level might lead the price towards the $6,800 support area in the near term.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is slowly moving in the bullish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently just above the 50 level.<\/p>\n
Major Support Levels \u2013 $7,050 followed by $7,000.<\/p>\n
Major Resistance Levels \u2013 $7,250, $7,300 and $7,500.<\/p>\n
Image from unsplash<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin gained traction and settled above the $7,000 resistance against the US Dollar. BTC price is consolidating gains above the 100 hourly SMA and likely to grind higher towards $7,500. Bitcoin is rising steadily and it is positioned nicely above $7,000 against the US Dollar. There is a strong support base forming near the $7,050 and $7,000 levels. There is a major bullish trend line forming with support near $7,100 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is likely to continue higher towards $7,500 as long as it is above the 100 hourly SMA. Bitcoin Turns Green After a successful break above the $6,800 resistance, bitcoin price gained bullish momentum against the US Dollar. BTC extended its rise above the $7,000 resistance and the 100 hourly simple moving average. It even surpassed the $7,200 resistance and traded as high as $7,302 before starting a downside correction. The bears were able to push the price below the $7,100 level, but the bulls were able to protect the $7,050 region. Bitcoin formed a low at $7,066 and remained stable above the 100 hourly simple moving average. It seems like there is a strong support base forming near the $7,050 level. Moreover, there is a major bullish trend line forming with support near $7,100 on the hourly chart of the BTC\/USD pair. The price is currently rising and trading near the 50% Fib retracement level of the recent decline from the $7,302 high to $7,066 low. An immediate resistance on the upside is near the $7,215 and $7,220 levels. The first key hurdle is near the $7,250 level or the 76.4% Fib retracement level of the recent decline from the $7,302 high to $7,066 low. A successful break above the $7,250 level could open the doors for more upsides towards the $7,300 and $7,400 levels. The next major resistance is near the $7,500 level. Key Breakdown Zone On the downside, there is a major support near the $7,050 level and the 100 hourly SMA. If bitcoin fails to stay above the $7,050 and $7,000 support levels, it could start a fresh decline. A successful close below the $7,000 support level might lead the price towards the $6,800 support area in the near term. Technical indicators: Hourly MACD \u2013 The MACD is slowly moving in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently just above the 50 level. Major Support Levels \u2013 $7,050 followed by $7,000. Major Resistance Levels \u2013 $7,250, $7,300 and $7,500. Image from unsplash<\/p>\n","protected":false},"author":67,"featured_media":421288,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3,4],"tags":[428,1144],"class_list":["post-421286","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","category-analysis","tag-bitcoin","tag-btcusd"],"acf":[],"yoast_head":"\nBitcoin is Consolidating Above 100 SMA and Likely Gearing For Lift-off To $8K<\/title>\n<meta name=\"description\" content=\"Bitcoin gained traction and settled above the $7,000 resistance. 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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:\/\/uniquehot.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin is Consolidating Above 100 SMA and Likely Gearing For Lift-off To $8K","url":"http:\/\/uniquehot.com\/news\/bitcoin-btc-gearing-lift-off-to-8k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-btc-gearing-lift-off-to-8k\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/04\/tim-mossholder-qjgdslbEn-I-unsplash.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/04\/tim-mossholder-qjgdslbEn-I-unsplash.jpg?fit=1920%2C1280"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btcusd"],"dateCreated":"2020-04-20T03:28:18Z","datePublished":"2020-04-20T03:28:18Z","dateModified":"2024-06-11T13:47:41Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin is Consolidating Above 100 SMA and Likely Gearing For Lift-off To $8K\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-btc-gearing-lift-off-to-8k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-btc-gearing-lift-off-to-8k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/04\\\/tim-mossholder-qjgdslbEn-I-unsplash.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/04\\\/tim-mossholder-qjgdslbEn-I-unsplash.jpg?fit=1920%2C1280\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btcusd\"],\"dateCreated\":\"2020-04-20T03:28:18Z\",\"datePublished\":\"2020-04-20T03:28:18Z\",\"dateModified\":\"2024-06-11T13:47:41Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/04\/tim-mossholder-qjgdslbEn-I-unsplash.jpg?fit=1920%2C1280","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/421286"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=421286"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/421286\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/421288"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=421286"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=421286"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=421286"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}