{"id":467846,"date":"2021-07-21T03:08:10","date_gmt":"2021-07-21T03:08:10","guid":{"rendered":"https:\/\/uniquehot.com\/?p=467846"},"modified":"2024-06-11T12:05:53","modified_gmt":"2024-06-11T12:05:53","slug":"bitcoin-bears-lose-strength-30k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-bears-lose-strength-30k\/","title":{"rendered":"TA: Bitcoin Bears Lose Strength, What Could Trigger A Decent Recovery"},"content":{"rendered":"
Bitcoin price extended its decline below the $30,000 support against the US Dollar. BTC is finding bids near $29,250 and it might attempt an upside correction.<\/em><\/p>\n Bitcoin price extended its decline below the $30,200 and $30,000 support levels<\/a>. BTC even settled well below the $30,000 level and the 100 hourly simple moving average to move further into a bearish zone.<\/p>\n The price even spiked below $29,500 and traded as low as $29,313. It seems like bitcoin is forming a support base above the $29,250 level. An initial resistance on the upside is near the $30,000 level. It is close to the 23.6% Fib retracement level of the recent downward move<\/a> from the $31,900 swing high to $29,313 low.<\/p>\n The first major resistance is near the $30,600 level. It is near the 50% Fib retracement level of the recent downward move from the $31,900 swing high to $29,313 low.<\/p>\n <\/a><\/p>\n There is also a key bearish trend line forming with resistance near $31,300 on the hourly chart of the BTC\/USD pair. In the short-term, bitcoin price might start a decent recovery above $30,000, but it might face barriers near the $31,000 level in the near term.<\/p>\n If bitcoin fails to recover above the $30,000 and $30,600 resistance levels, there is a risk of more losses. An initial support on the downside is near the $29,350 level.<\/p>\n The first major support is now near the $29,250 zone. A clear downside break below the recent low and $29,250 might call for a move below the $29,000 level. The next key support is seen near the $28,000 level.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is now losing pace in the bearish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is rising and it might soon clear the 50 level.<\/p>\n Major Support Levels \u2013 $29,250, followed by $29,000.<\/p>\n Major Resistance Levels \u2013 $30,000, $30,600 and $31,000.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin price extended its decline below the $30,000 support against the US Dollar. BTC is finding bids near $29,250 and it might attempt an upside correction. Bitcoin is following a bearish path and it broke the key $30,000 support zone. The price is now trading well below $31,000 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $31,300 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start a decent upside correction if it remains stable above the $29,250 level. Bitcoin Price Settles Below $30K Bitcoin price extended its decline below the $30,200 and $30,000 support levels. BTC even settled well below the $30,000 level and the 100 hourly simple moving average to move further into a bearish zone. The price even spiked below $29,500 and traded as low as $29,313. It seems like bitcoin is forming a support base above the $29,250 level. An initial resistance on the upside is near the $30,000 level. It is close to the 23.6% Fib retracement level of the recent downward move from the $31,900 swing high to $29,313 low. The first major resistance is near the $30,600 level. It is near the 50% Fib retracement level of the recent downward move from the $31,900 swing high to $29,313 low. Source: BTCUSD on TradingView.com There is also a key bearish trend line forming with resistance near $31,300 on the hourly chart of the BTC\/USD pair. In the short-term, bitcoin price might start a decent recovery above $30,000, but it might face barriers near the $31,000 level in the near term. More Losses in BTC? If bitcoin fails to recover above the $30,000 and $30,600 resistance levels, there is a risk of more losses. An initial support on the downside is near the $29,350 level. The first major support is now near the $29,250 zone. A clear downside break below the recent low and $29,250 might call for a move below the $29,000 level. The next key support is seen near the $28,000 level. Technical indicators: Hourly MACD \u2013 The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is rising and it might soon clear the 50 level. Major Support Levels \u2013 $29,250, followed by $29,000. Major Resistance Levels \u2013 $30,000, $30,600 and $31,000.<\/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-467846","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 Settles Below $30K<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
More Losses in BTC?<\/h2>\n