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{"id":467501,"date":"2021-07-15T03:08:58","date_gmt":"2021-07-15T03:08:58","guid":{"rendered":"https:\/\/uniquehot.com\/?p=467501"},"modified":"2024-06-11T13:57:04","modified_gmt":"2024-06-11T13:57:04","slug":"bitcoin-attempts-recovery-33k-key","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-attempts-recovery-33k-key\/","title":{"rendered":"TA: Bitcoin Attempts Recovery, Why 100 SMA Holds The Key"},"content":{"rendered":"

Bitcoin price extended its decline below $32,000 before recovering higher against the US Dollar. BTC is back above $32,500, but it must clear the 100 hourly SMA to continue higher.<\/em><\/p>\n

\n
Bitcoin started an upside correction after it traded towards the $31,500 zone.<\/li>\n
The price is now trading near $33,000 and the 100 hourly simple moving average.<\/li>\n
There was a break above a key bearish trend line with resistance near $32,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair must settle above $33,250 and the 100 hourly SMA to continue higher in the near term.<\/li>\n<\/ul>\n
Bitcoin Price is Facing Hurdles<\/h2>\n
Yesterday, bitcoin price extended its decline below the $32,200 and $32,000 support levels<\/a>. BTC even spiked towards $31,500 and it settled well below the 100 hourly simple moving average.<\/p>\n
It traded as low as $31,560 before it started an upside correction. There was a break above the $32,000 and $32,200 resistance levels. Bitcoin climbed above the 23.6% Fib retracement level of the recent drop from the $34,530 swing high to $31,560 low.<\/p>\n
There was also a break above a key bearish trend line with resistance near $32,500 on the hourly chart of the BTC\/USD pair. The pair is now trading near $33,000 and the 100 hourly simple moving average.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
The 50% Fib retracement level of the recent drop from the $34,530 swing high to $31,560 low is also acting as a resistance for the bulls. To start a decent increase, the price must settle above the $33,200 level and the 100 hourly SMA. The next major resistance sits near $33,500.<\/p>\n
Fresh Decline in BTC?<\/h2>\n
If bitcoin fails to recover above the $33,000 and $33,200 resistance levels, there is a risk of a fresh decline. An initial support on the downside is near the $32,500 level.<\/p>\n
The first major support is now near the $32,000 zone. The main support is now forming near the $31,500 zone. A close below the $31,500 level could put a lot of pressure on the bulls<\/a>. In the stated case, the price is likely to dive further towards the $30,000 level.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is struggling to gain pace in the bullish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now just above the 50 level.<\/p>\n
Major Support Levels \u2013 $32,200, followed by $32,000.<\/p>\n
Major Resistance Levels \u2013 $33,200, $33,500 and $34,000.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price extended its decline below $32,000 before recovering higher against the US Dollar. BTC is back above $32,500, but it must clear the 100 hourly SMA to continue higher. Bitcoin started an upside correction after it traded towards the $31,500 zone. The price is now trading near $33,000 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $32,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair must settle above $33,250 and the 100 hourly SMA to continue higher in the near term. Bitcoin Price is Facing Hurdles Yesterday, bitcoin price extended its decline below the $32,200 and $32,000 support levels. BTC even spiked towards $31,500 and it settled well below the 100 hourly simple moving average. It traded as low as $31,560 before it started an upside correction. There was a break above the $32,000 and $32,200 resistance levels. Bitcoin climbed above the 23.6% Fib retracement level of the recent drop from the $34,530 swing high to $31,560 low. There was also a break above a key bearish trend line with resistance near $32,500 on the hourly chart of the BTC\/USD pair. The pair is now trading near $33,000 and the 100 hourly simple moving average. Source: BTCUSD on TradingView.com The 50% Fib retracement level of the recent drop from the $34,530 swing high to $31,560 low is also acting as a resistance for the bulls. To start a decent increase, the price must settle above the $33,200 level and the 100 hourly SMA. The next major resistance sits near $33,500. Fresh Decline in BTC? If bitcoin fails to recover above the $33,000 and $33,200 resistance levels, there is a risk of a fresh decline. An initial support on the downside is near the $32,500 level. The first major support is now near the $32,000 zone. The main support is now forming near the $31,500 zone. A close below the $31,500 level could put a lot of pressure on the bulls. In the stated case, the price is likely to dive further towards the $30,000 level. Technical indicators: Hourly MACD \u2013 The MACD is struggling to gain pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now just above the 50 level. Major Support Levels \u2013 $32,200, followed by $32,000. Major Resistance Levels \u2013 $33,200, $33,500 and $34,000.<\/p>\n","protected":false},"author":67,"featured_media":459773,"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-467501","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\nTA: Bitcoin Attempts Recovery, Why 100 SMA Holds The Key<\/title>\n<meta name=\"description\" content=\"Bitcoin price extended its decline below $32,000 before recovering higher against the US Dollar. 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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":"TA: Bitcoin Attempts Recovery, Why 100 SMA Holds The Key","url":"http:\/\/uniquehot.com\/news\/bitcoin-attempts-recovery-33k-key\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-attempts-recovery-33k-key\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/03\/shutterstock_1363186970.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/03\/shutterstock_1363186970.jpg?fit=1000%2C667"},"articleSection":"Cryptocurrency Market News","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":"2021-07-15T03:08:58Z","datePublished":"2021-07-15T03:08:58Z","dateModified":"2024-06-11T13:57:04Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Bitcoin Attempts Recovery, Why 100 SMA Holds The Key\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-attempts-recovery-33k-key\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-attempts-recovery-33k-key\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_1363186970.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_1363186970.jpg?fit=1000%2C667\"},\"articleSection\":\"Cryptocurrency Market News\",\"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\":\"2021-07-15T03:08:58Z\",\"datePublished\":\"2021-07-15T03:08:58Z\",\"dateModified\":\"2024-06-11T13:57:04Z\"}<\/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\/2021\/03\/shutterstock_1363186970.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/467501"}],"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=467501"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/467501\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/459773"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=467501"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=467501"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=467501"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}

Fresh Decline in BTC?<\/h2>\nIf bitcoin fails to recover above the $33,000 and $33,200 resistance levels, there is a risk of a fresh decline. An initial support on the downside is near the $32,500 level.<\/p>\n