$34,000 resistance zone<\/a>. To move into a positive zone and start a steady increase, the bulls need to gain strength above $34,000 and $34,500 in the near term. The next major resistance is near the $35,800 level, where the bulls might take a stand.<\/p>\nFresh Decline in BTC?<\/h2>\n If bitcoin fails to recover above $33,500 and $34,000, there is a risk of another decline. An initial support on the downside is near the $32,000 level.<\/p>\n
The first major support is near the $31,250 and $31,200 levels. A downside break below $31,200 and a follow up move below $31,000 may possibly start a strong decline towards $28,500 in the coming sessions. It seems like the price might consolidate in a range below the $34,000 resistance level before it makes the next major move.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is slowly gaining momentum in the bullish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now recovering towards the 40 level.<\/p>\n
Major Support Levels \u2013 $30,000, followed by $28,800.<\/p>\n
Major Resistance Levels \u2013 $30,800, $31,000 and $32,800.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price is slowly recovering above $32,000 against the US Dollar. BTC is likely to face a strong selling interest near $33,500 and $34,000. Bitcoin seems to be consolidating above the $31,000 and $32,000 support levels. The price is currently just above $32,500 and the 100 hourly simple moving average. There was a break above a declining channel with resistance near $32,650 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is likely to continue higher towards the $33,500 and $34,000 resistance levels. Bitcoin Price Stuck Below $33.5K After forming a base above the $30,000 level, bitcoin price corrected higher. BTC managed to clear the $31,200 and $31,500 resistance levels to move into a short-term positive zone. There was a break above the 23.6% Fib retracement level of the downward move from the $37,892 high to $28,809 low. It is now trading just above $32,500 and the 100 hourly simple moving average. There was also a break above a declining channel with resistance near $32,650 on the hourly chart of the BTC\/USD pair. Bitcoin price is approaching the $33,000 resistance level. The next key resistance could be near $33,500 or the 50% Fib retracement level of the downward move from the $37,892 high to $28,809 low. Source: BTCUSD on TradingView.com Any further gains could lead the price towards the $34,000 resistance zone. To move into a positive zone and start a steady increase, the bulls need to gain strength above $34,000 and $34,500 in the near term. The next major resistance is near the $35,800 level, where the bulls might take a stand. Fresh Decline in BTC? If bitcoin fails to recover above $33,500 and $34,000, there is a risk of another decline. An initial support on the downside is near the $32,000 level. The first major support is near the $31,250 and $31,200 levels. A downside break below $31,200 and a follow up move below $31,000 may possibly start a strong decline towards $28,500 in the coming sessions. It seems like the price might consolidate in a range below the $34,000 resistance level before it makes the next major move. Technical indicators: Hourly MACD \u2013 The MACD is slowly gaining momentum in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now recovering towards the 40 level. Major Support Levels \u2013 $30,000, followed by $28,800. Major Resistance Levels \u2013 $30,800, $31,000 and $32,800.<\/p>\n","protected":false},"author":67,"featured_media":455150,"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-455148","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
TA: Bitcoin Consolidates Below $33K, Why BTC Could Attempt Bullish Break<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n