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{"id":435763,"date":"2020-08-21T04:14:25","date_gmt":"2020-08-21T04:14:25","guid":{"rendered":"https:\/\/uniquehot.com\/?p=435763"},"modified":"2024-06-11T14:15:23","modified_gmt":"2024-06-11T14:15:23","slug":"bitcoin-is-showing-early-signs-of-fresh-surge","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-is-showing-early-signs-of-fresh-surge\/","title":{"rendered":"Bitcoin is Showing Early Signs of Fresh Surge, But 100 SMA is the Key"},"content":{"rendered":"

Bitcoin price is holding the $11,650 and $11,550 support levels against the US Dollar. BTC is currently recovering, but it must surpass the 100 hourly SMA to start a fresh surge.<\/em><\/p>\n

\n
Bitcoin is still trading nicely above the $11,650 and $11,550 support levels, with positive signs.<\/li>\n
The price is likely to face a strong resistance near $11,950 and the 100 hourly simple moving average.<\/li>\n
There was a break above a crucial bearish trend line with resistance near $11,810 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair must settle above the $12,000 pivot level to start a fresh surge in the near term.<\/li>\n<\/ul>\n
Bitcoin Price is Slowly Recovering<\/h2>\n
After a sharp downside correction, bitcoin price found support above $11,550<\/a> against the US Dollar. BTC remained well bid above the $11,550 level, but it settled below the 100 hourly simple moving average.<\/p>\n
A swing low is formed near $11,581 and the price is currently recovering. It broke the $11,800 resistance zone, plus there was a break above the 23.6% Fib retracement level of the downward move from the $12,491 high to $11,580 swing low.<\/p>\n
Moreover, there was a break above a crucial bearish trend line with resistance near $11,810 on the hourly chart of the BTC\/USD pair. Bitcoin is clearly showing a few positive signs above the $11,800 level, but it is facing a strong resistance near $11,950 and the 100 hourly simple moving average.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Bitcoin price trades above $11,800. Source: TradingView.com<\/a><\/pre>\n
The 50% Fib retracement level of the downward move from the $12,491 high to $11,580 swing low is also near $12,035. Therefore, the bulls need to clear the 100 hourly SMA and then gain strength above $12,000 to start a fresh increase in the coming sessions.<\/p>\n
In the mentioned case, the price could easily drift towards the $12,150 and $12,250 levels. The main hurdle is still near the $12,500 level for a larger upward move.<\/p>\n
Fresh Decline in BTC?<\/h2>\n
If bitcoin fails to continue higher above the 100 hourly SMA or the $12,000 barrier, there are chances of a fresh decline. An initial support is near the $11,650 level.<\/p>\n
The main support<\/a> on the downside is near the $11,550 level. If there is a proper close below $11,550 and $11,500, there is a risk of a larger decline towards $11,200 or $11,000.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is slowly moving into 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 $11,650, followed by $11,500.<\/p>\n
Major Resistance Levels \u2013 $11,950, $12,000 and $12,050.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price is holding the $11,650 and $11,550 support levels against the US Dollar. BTC is currently recovering, but it must surpass the 100 hourly SMA to start a fresh surge. Bitcoin is still trading nicely above the $11,650 and $11,550 support levels, with positive signs. The price is likely to face a strong resistance near $11,950 and the 100 hourly simple moving average. There was a break above a crucial bearish trend line with resistance near $11,810 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair must settle above the $12,000 pivot level to start a fresh surge in the near term. Bitcoin Price is Slowly Recovering After a sharp downside correction, bitcoin price found support above $11,550 against the US Dollar. BTC remained well bid above the $11,550 level, but it settled below the 100 hourly simple moving average. A swing low is formed near $11,581 and the price is currently recovering. It broke the $11,800 resistance zone, plus there was a break above the 23.6% Fib retracement level of the downward move from the $12,491 high to $11,580 swing low. Moreover, there was a break above a crucial bearish trend line with resistance near $11,810 on the hourly chart of the BTC\/USD pair. Bitcoin is clearly showing a few positive signs above the $11,800 level, but it is facing a strong resistance near $11,950 and the 100 hourly simple moving average. Bitcoin price trades above $11,800. Source: TradingView.com The 50% Fib retracement level of the downward move from the $12,491 high to $11,580 swing low is also near $12,035. Therefore, the bulls need to clear the 100 hourly SMA and then gain strength above $12,000 to start a fresh increase in the coming sessions. In the mentioned case, the price could easily drift towards the $12,150 and $12,250 levels. The main hurdle is still near the $12,500 level for a larger upward move. Fresh Decline in BTC? If bitcoin fails to continue higher above the 100 hourly SMA or the $12,000 barrier, there are chances of a fresh decline. An initial support is near the $11,650 level. The main support on the downside is near the $11,550 level. If there is a proper close below $11,550 and $11,500, there is a risk of a larger decline towards $11,200 or $11,000. Technical indicators: Hourly MACD \u2013 The MACD is slowly moving into the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level. Major Support Levels \u2013 $11,650, followed by $11,500. Major Resistance Levels \u2013 $11,950, $12,000 and $12,050.<\/p>\n","protected":false},"author":67,"featured_media":435765,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3,4],"tags":[428,1144,78790,76835],"class_list":["post-435763","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","category-analysis","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\nBitcoin is Showing Early Signs of Fresh Surge, But 100 SMA is the Key<\/title>\n<meta name=\"description\" content=\"Bitcoin price is holding the $11,650 and $11,550 support levels against the US Dollar. 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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 Showing Early Signs of Fresh Surge, But 100 SMA is the Key","url":"http:\/\/uniquehot.com\/news\/bitcoin-is-showing-early-signs-of-fresh-surge\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-is-showing-early-signs-of-fresh-surge\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/08\/shutterstock_1154306008-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/08\/shutterstock_1154306008-scaled.jpg?fit=2560%2C1810"},"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","btcusdt","xbtusd"],"dateCreated":"2020-08-21T04:14:25Z","datePublished":"2020-08-21T04:14:25Z","dateModified":"2024-06-11T14:15:23Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin is Showing Early Signs of Fresh Surge, But 100 SMA is the Key\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-is-showing-early-signs-of-fresh-surge\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-is-showing-early-signs-of-fresh-surge\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/08\\\/shutterstock_1154306008-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/08\\\/shutterstock_1154306008-scaled.jpg?fit=2560%2C1810\"},\"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\",\"btcusdt\",\"xbtusd\"],\"dateCreated\":\"2020-08-21T04:14:25Z\",\"datePublished\":\"2020-08-21T04:14:25Z\",\"dateModified\":\"2024-06-11T14:15:23Z\"}<\/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\/08\/shutterstock_1154306008-scaled.jpg?fit=2560%2C1810","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/435763","targetHints":{"allow":["GET"]}}],"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=435763"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/435763\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/435765"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=435763"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=435763"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=435763"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}

Fresh Decline in BTC?<\/h2>\nIf bitcoin fails to continue higher above the 100 hourly SMA or the $12,000 barrier, there are chances of a fresh decline. An initial support is near the $11,650 level.<\/p>\n