major resistance<\/a> is near the $38,000 level and the recent high. A clear break above the $38,000 zone could set the pace for a larger increase. The next major resistance is near the $40,000 level. An intermediate resistance could be near the $38,800 level.<\/p>\nDips Supported in BTC?<\/h2>\n If bitcoin fails to clear the $38,000 resistance, it could correct lower. An initial support on the downside is near the $36,500 level.<\/p>\n
The first major support is near the $36,000 level and the 100 hourly simple moving average. If there is a downside break below the $36,000 support, the price could decline towards the $35,200 support zone in the coming sessions. Any more losses could clear the path for a retest of the $34,000 level.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is slowly losing pace in the bullish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is sliding towards the 50 level.<\/p>\n
Major Support Levels \u2013 $36,000, followed by $35,500.<\/p>\n
Major Resistance Levels \u2013 $37,500, $38,000 and $40,000.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price started a steady increase above the $36,000 resistance against the US Dollar. BTC even broke $37,000 and it is now showing positive signs. Bitcoin gained bullish momentum above the $35,000 and $36,000 resistance levels. The price is currently trading well above $36,000 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $36,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could correct lower, but the bulls are likely to remain active near $36,000. Bitcoin Price Gains Pace Bitcoin formed a base above the $34,000 zone and it started a steady increase. BTC broke the $35,000 and $36,000 resistance levels to move into a positive zone. There was a break above a major bearish trend line with resistance near $36,000 on the hourly chart of the BTC\/USD pair. The pair climbed above the 50% Fib retracement level of the key decline from the $40,420 swing high to $33,630 low. The price even broke the $37,000 resistance zone. However, the bears are fighting near the $38,000 level. It seems like the 61.8% Fib retracement level of the key decline from the $40,420 swing high to $33,630 low is acting as a resistance. Source: BTCUSD on TradingView.com On the upside, an immediate resistance is near the $37,500 level. The first major resistance is near the $38,000 level and the recent high. A clear break above the $38,000 zone could set the pace for a larger increase. The next major resistance is near the $40,000 level. An intermediate resistance could be near the $38,800 level. Dips Supported in BTC? If bitcoin fails to clear the $38,000 resistance, it could correct lower. An initial support on the downside is near the $36,500 level. The first major support is near the $36,000 level and the 100 hourly simple moving average. If there is a downside break below the $36,000 support, the price could decline towards the $35,200 support zone in the coming sessions. Any more losses could clear the path for a retest of the $34,000 level. Technical indicators: Hourly MACD \u2013 The MACD is slowly losing pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is sliding towards the 50 level. Major Support Levels \u2013 $36,000, followed by $35,500. Major Resistance Levels \u2013 $37,500, $38,000 and $40,000.<\/p>\n","protected":false},"author":67,"featured_media":464826,"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-464824","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 Grinds Higher, Here\u2019s Why Dips Turned Attractive<\/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