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{"id":435999,"date":"2020-08-24T04:08:11","date_gmt":"2020-08-24T04:08:11","guid":{"rendered":"https:\/\/uniquehot.com\/?p=435999"},"modified":"2024-06-11T14:15:29","modified_gmt":"2024-06-11T14:15:29","slug":"bitcoin-hesitates-100-sma-could-trigger-rise","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-hesitates-100-sma-could-trigger-rise\/","title":{"rendered":"Bitcoin Hesitates, But Break Above 100 SMA Could Trigger A Sharp Rise"},"content":{"rendered":"

Bitcoin price is currently recovering and trading above $11,500 against the US Dollar. BTC is likely to accelerate higher once it clears the $11,700 resistance and the 100 hourly SMA.<\/em><\/p>\n

\n
Bitcoin is showing a few positive signs and trading above the $11,500 level.<\/li>\n
The price is testing a major resistance near $11,700 and the 100 hourly simple moving average.<\/li>\n
There is a major bearish trend line forming with resistance near $11,690 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair must settle above the $11,800 level to move into a positive zone in the near term.<\/li>\n<\/ul>\n
Bitcoin Price is Recovering<\/h2>\n
Bitcoin price formed a decent support base above the $11,350 level and recently started a recovery wave against the US Dollar. BTC broke a couple of key hurdles near the $11,500 and $11,600 levels.<\/p>\n
There was also a break above the 50% Fib retracement level of the downward move from the $11,900 swing high to $11,350 swing low. The price is now trading above $11,650, but it is facing a major resistance near $11,700 and the 100 hourly simple moving average<\/a>.<\/p>\n
There is also a major bearish trend line forming with resistance near $11,690 on the hourly chart of the BTC\/USD pair. The trend line is close to the 61.8% Fib retracement level of the downward move from the $11,900 swing high to $11,350 swing low.<\/p>\n
$\"Bitcoin\"$ <\/a><\/p>\n
Bitcoin price trades above $11,650. Source: TradingView.com<\/a><\/pre>\n
A successful break above the trend line resistance, $11,700, and the 100 hourly SMA could lead the price towards the $11,800 resistance. A successful close above the $11,800 level might lead the price towards the $12,000 barrier in the coming sessions.<\/p>\n
In the mentioned bullish case, the bulls are likely to gain strength and there are chances of a drift towards the $12,500 level.<\/p>\n
Fresh Rejection in BTC?<\/h2>\n
If bitcoin fails to continue higher above the 100 hourly SMA or the $11,700 resistance, there could be a fresh rejection and a bearish reaction.<\/p>\n
An initial support on the downside is near the $11,600 level. The first major support is near the $11,520 level, below which the price might dive towards the $11,350 support level<\/a> in the near term.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is slowly losing momentum in the bullish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now well above the 50 level, with a bullish angle.<\/p>\n
Major Support Levels \u2013 $11,600, followed by $11,520.<\/p>\n
Major Resistance Levels \u2013 $11,700, $11,800 and $12,000.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price is currently recovering and trading above $11,500 against the US Dollar. BTC is likely to accelerate higher once it clears the $11,700 resistance and the 100 hourly SMA. Bitcoin is showing a few positive signs and trading above the $11,500 level. The price is testing a major resistance near $11,700 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $11,690 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair must settle above the $11,800 level to move into a positive zone in the near term. Bitcoin Price is Recovering Bitcoin price formed a decent support base above the $11,350 level and recently started a recovery wave against the US Dollar. BTC broke a couple of key hurdles near the $11,500 and $11,600 levels. There was also a break above the 50% Fib retracement level of the downward move from the $11,900 swing high to $11,350 swing low. The price is now trading above $11,650, but it is facing a major resistance near $11,700 and the 100 hourly simple moving average. There is also a major bearish trend line forming with resistance near $11,690 on the hourly chart of the BTC\/USD pair. The trend line is close to the 61.8% Fib retracement level of the downward move from the $11,900 swing high to $11,350 swing low. Bitcoin price trades above $11,650. Source: TradingView.com A successful break above the trend line resistance, $11,700, and the 100 hourly SMA could lead the price towards the $11,800 resistance. A successful close above the $11,800 level might lead the price towards the $12,000 barrier in the coming sessions. In the mentioned bullish case, the bulls are likely to gain strength and there are chances of a drift towards the $12,500 level. Fresh Rejection in BTC? If bitcoin fails to continue higher above the 100 hourly SMA or the $11,700 resistance, there could be a fresh rejection and a bearish reaction. An initial support on the downside is near the $11,600 level. The first major support is near the $11,520 level, below which the price might dive towards the $11,350 support level in the near term. Technical indicators: Hourly MACD \u2013 The MACD is slowly losing momentum in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now well above the 50 level, with a bullish angle. Major Support Levels \u2013 $11,600, followed by $11,520. Major Resistance Levels \u2013 $11,700, $11,800 and $12,000.<\/p>\n","protected":false},"author":67,"featured_media":436001,"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-435999","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 Hesitates, But Break Above 100 SMA Could Trigger A Sharp Rise<\/title>\n<meta name=\"description\" content=\"Bitcoin price is recovering and trading above $11,500. 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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:\/\/uniquehot.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Hesitates, But Break Above 100 SMA Could Trigger A Sharp Rise","url":"http:\/\/uniquehot.com\/news\/bitcoin-hesitates-100-sma-could-trigger-rise\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-hesitates-100-sma-could-trigger-rise\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/08\/shutterstock_142783711.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/08\/shutterstock_142783711.jpg?fit=1000%2C667"},"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":"2020-08-24T04:08:11Z","datePublished":"2020-08-24T04:08:11Z","dateModified":"2024-06-11T14:15:29Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Hesitates, But Break Above 100 SMA Could Trigger A Sharp Rise\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-hesitates-100-sma-could-trigger-rise\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-hesitates-100-sma-could-trigger-rise\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/08\\\/shutterstock_142783711.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/08\\\/shutterstock_142783711.jpg?fit=1000%2C667\"},\"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\":\"2020-08-24T04:08:11Z\",\"datePublished\":\"2020-08-24T04:08:11Z\",\"dateModified\":\"2024-06-11T14:15:29Z\"}<\/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_142783711.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/435999","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=435999"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/435999\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/436001"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=435999"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=435999"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=435999"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}

Fresh Rejection in BTC?<\/h2>\nIf bitcoin fails to continue higher above the 100 hourly SMA or the $11,700 resistance, there could be a fresh rejection and a bearish reaction.<\/p>\n