{"id":453821,"date":"2021-01-06T03:48:23","date_gmt":"2021-01-06T03:48:23","guid":{"rendered":"https:\/\/uniquehot.com\/?p=453821"},"modified":"2024-06-11T14:12:31","modified_gmt":"2024-06-11T14:12:31","slug":"bitcoin-btc-could-surge-to-new-ath-35k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-btc-could-surge-to-new-ath-35k\/","title":{"rendered":"TA: Bitcoin Revisits $34K, Why BTC Could Surge To New ATH Above $35K"},"content":{"rendered":"
Bitcoin price started a fresh increase above the $33,200 resistance against the US Dollar. BTC is likely eyeing more upsides above the $34,500 and $35,000 resistance levels.<\/em><\/p>\n Yesterday, we discussed the chances of a fresh increase in bitcoin price<\/a> above $33,200 and $33,500. BTC did gain bullish momentum and it was able to clear the $33,200 and $33,500 resistance levels.<\/p>\n There was also a break above a major bearish trend line with resistance near $32,400 on the hourly chart of the BTC\/USD pair. The pair gained pace and it even broke the $34,000 resistance zone. It tested the $34,500 resistance and settled above the 100 hourly simple moving average<\/a>.<\/p>\n A high is formed near $34,536 and the price is currently consolidating gains. It tested the $33,800 support zone, and the 23.6% Fib retracement level of the recent wave from the $31,196 swing low to $34,536 high.<\/p>\n <\/a><\/p>\n If there are more downsides, the price could test the $32,800 support. It is close to the 50% Fib retracement level of the recent wave from the $31,196 swing low to $34,536 high. On the upside, the price is facing hurdles near the $34,500 level.<\/p>\n A clear break and close above the $34,500 level may possibly open the doors for a surge above the $35,000 level. In the stated case, the next major stop for the bulls could be near $36,500 or $37,200.<\/p>\n If bitcoin fails to clear the $34,500 and $35,000 levels, it could start a fresh downward move. An initial support on the downside is near the $33,000 and $32,800 levels.<\/p>\n The main support is now forming near the $32,400 level and the 100 hourly simple moving average. A close below the 100 hourly SMA could start a fresh decline towards the $30,000 support zone in the near term.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is gaining momentum in the bullish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is well above the 55 level.<\/p>\n Major Support Levels \u2013 $33,800, followed by $32,800.<\/p>\n Major Resistance Levels \u2013 $34,500, $35,000 and $36,500.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin price started a fresh increase above the $33,200 resistance against the US Dollar. BTC is likely eyeing more upsides above the $34,500 and $35,000 resistance levels. Bitcoin is up over 5% and it broke the $33,200 and $33,500 resistance levels. The price is trading nicely near $34,000 and it is well above the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $32,400 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is likely to accelerate higher above the $34,500 and $35,000 resistance levels. Bitcoin Price is Gaining Momentum Yesterday, we discussed the chances of a fresh increase in bitcoin price above $33,200 and $33,500. BTC did gain bullish momentum and it was able to clear the $33,200 and $33,500 resistance levels. There was also a break above a major bearish trend line with resistance near $32,400 on the hourly chart of the BTC\/USD pair. The pair gained pace and it even broke the $34,000 resistance zone. It tested the $34,500 resistance and settled above the 100 hourly simple moving average. A high is formed near $34,536 and the price is currently consolidating gains. It tested the $33,800 support zone, and the 23.6% Fib retracement level of the recent wave from the $31,196 swing low to $34,536 high. Source: BTCUSD on TradingView.com If there are more downsides, the price could test the $32,800 support. It is close to the 50% Fib retracement level of the recent wave from the $31,196 swing low to $34,536 high. On the upside, the price is facing hurdles near the $34,500 level. A clear break and close above the $34,500 level may possibly open the doors for a surge above the $35,000 level. In the stated case, the next major stop for the bulls could be near $36,500 or $37,200. Dips Supported in BTC? If bitcoin fails to clear the $34,500 and $35,000 levels, it could start a fresh downward move. An initial support on the downside is near the $33,000 and $32,800 levels. The main support is now forming near the $32,400 level and the 100 hourly simple moving average. A close below the 100 hourly SMA could start a fresh decline towards the $30,000 support zone in the near term. Technical indicators: Hourly MACD \u2013 The MACD is gaining momentum in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is well above the 55 level. Major Support Levels \u2013 $33,800, followed by $32,800. Major Resistance Levels \u2013 $34,500, $35,000 and $36,500.<\/p>\n","protected":false},"author":67,"featured_media":453823,"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":[428,1144,78790,76835],"class_list":["post-453821","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n\n
Bitcoin Price is Gaining Momentum<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Dips Supported in BTC?<\/h2>\n