{"id":466477,"date":"2021-06-30T03:08:44","date_gmt":"2021-06-30T03:08:44","guid":{"rendered":"https:\/\/uniquehot.com\/?p=466477"},"modified":"2024-06-11T13:56:40","modified_gmt":"2024-06-11T13:56:40","slug":"bitcoin-lacks-momentum-36k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-lacks-momentum-36k\/","title":{"rendered":"TA: Bitcoin Lacks Momentum Above $36K, Why BTC Could Correct Lower"},"content":{"rendered":"
Bitcoin price extended its recovery above the $36,000 zone against the US Dollar. BTC topped near $36,700 and it is now correcting gains.<\/em><\/p>\n Bitcoin started a steady increase<\/a> after it settle above the $34,000 level. BTC broke the key $35,000 barrier and the 100 hourly simple moving average to move further into a positive zone.<\/p>\n The price even spiked above the $36,500 resistance. It traded as high as $36,698 and it is now correcting gains. There was a break below the $36,500 and $36,000 levels. It even traded below the 23.6% Fib retracement level of the upward move from the $33,939 swing low to $36,698 high.<\/p>\n Bitcoin is still trading nicely above $35,000 and the 100 hourly simple moving average<\/a>. There is also a major bullish trend line forming with support near $35,700 on the hourly chart of the BTC\/USD pair.<\/p>\n <\/a><\/p>\n If the pair fails to stay above the trend line support, it could start a downside correction below $35,500. The next key support is near the $35,200 level. It is near the 50% Fib retracement level of the upward move from the $33,939 swing low to $36,698 high. Any more losses might call for an extended decline towards the $34,000 support zone in the coming sessions.<\/p>\n If bitcoin remains stable above the trend line support, it could rise further above the $36,000 resistance. An immediate resistance on the upside is near the $36,500 level.<\/p>\n The next key resistance is near $36,700, above which the bulls are likely to aim a fresh high above $37,000. Any more gain could lift the price towards the $38,000 resistance. The next major barrier is near the $40,000 zone.<\/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 still well above the 50 level.<\/p>\n Major Support Levels \u2013 $35,700, followed by $35,200.<\/p>\n Major Resistance Levels \u2013 $36,000, $36,500 and $38,000.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin price extended its recovery above the $36,000 zone against the US Dollar. BTC topped near $36,700 and it is now correcting gains. Bitcoin started a fresh increase above the $35,000 and $36,000 resistance levels. The price is now trading nicely above $35,000 and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $35,700 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is likely to start a downside correction below $35,700 and $35,500 in the near term. Bitcoin Price is Correcting Gains Bitcoin started a steady increase after it settle above the $34,000 level. BTC broke the key $35,000 barrier and the 100 hourly simple moving average to move further into a positive zone. The price even spiked above the $36,500 resistance. It traded as high as $36,698 and it is now correcting gains. There was a break below the $36,500 and $36,000 levels. It even traded below the 23.6% Fib retracement level of the upward move from the $33,939 swing low to $36,698 high. Bitcoin is still trading nicely above $35,000 and the 100 hourly simple moving average. There is also a major bullish trend line forming with support near $35,700 on the hourly chart of the BTC\/USD pair. Source: BTCUSD on TradingView.com If the pair fails to stay above the trend line support, it could start a downside correction below $35,500. The next key support is near the $35,200 level. It is near the 50% Fib retracement level of the upward move from the $33,939 swing low to $36,698 high. Any more losses might call for an extended decline towards the $34,000 support zone in the coming sessions. Fresh Increase in BTC? If bitcoin remains stable above the trend line support, it could rise further above the $36,000 resistance. An immediate resistance on the upside is near the $36,500 level. The next key resistance is near $36,700, above which the bulls are likely to aim a fresh high above $37,000. Any more gain could lift the price towards the $38,000 resistance. The next major barrier is near the $40,000 zone. 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 still well above the 50 level. Major Support Levels \u2013 $35,700, followed by $35,200. Major Resistance Levels \u2013 $36,000, $36,500 and $38,000.<\/p>\n","protected":false},"author":67,"featured_media":460984,"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-466477","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 Correcting Gains<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Fresh Increase in BTC?<\/h2>\n