{"id":468414,"date":"2021-07-30T03:08:53","date_gmt":"2021-07-30T03:08:53","guid":{"rendered":"https:\/\/uniquehot.com\/?p=468414"},"modified":"2024-06-11T13:57:24","modified_gmt":"2024-06-11T13:57:24","slug":"bitcoin-turns-green-40k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-turns-green-40k\/","title":{"rendered":"TA: Bitcoin Turns Green, Why Close Above $40K Is Crucial"},"content":{"rendered":"
Bitcoin price is trading in a positive zone above the $39,000 level against the US Dollar. BTC must settle above $40,000 for a sustained upward move in the near term.<\/em><\/p>\n Bitcoin price remained well bid above the $38,200 support zone. BTC started a steady increase<\/a> and it even broke the $39,000 level and the 100 hourly simple moving average.<\/p>\n However, the bulls are struggling to gain strength above the $40,000 zone. The last high was formed near $40,920 before there was a minor downside correction. The price corrected below the $40,000 support level.<\/p>\n There was a break below the 23.6% Fib retracement level of the upward wave<\/a> from the $36,340 swing low to $40,920 high. The price even traded below $39,500, but the bulls were active above the $39,000 support. There is also a major bullish trend line forming with support near $39,000 on the hourly chart of the BTC\/USD pair.<\/p>\n The price is also trading nicely above the 50% Fib retracement level of the upward wave from the $36,340 swing low to $40,920 high. On the upside, an initial resistance is near the $40,200 level. The first key resistance is near the $40,500 level.<\/p>\n <\/a><\/p>\n If there is an upside break above the $40,500 resistance zone, there are chances of more upsides. The next major resistance is near the $41,000 and $41,200 levels. A close above $41,200 could trigger a steady increase towards the $43,500 level.<\/p>\n If bitcoin fails to climb above the $40,200 and $40,500 resistance levels, it could start a downside correction. An initial support on the downside is near the $39,200 level.<\/p>\n The first major support is now near the $39,000 zone and the 100 hourly SMA. A clear downside break below the trend line and $39,000 might call for a move towards the $38,000 level. The next major support is near the $37,800 zone.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is slowly gaining pace in the bullish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n Major Support Levels \u2013 $39,200, followed by $39,000.<\/p>\n Major Resistance Levels \u2013 $40,200, $40,500 and $42,000.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin price is trading in a positive zone above the $39,000 level against the US Dollar. BTC must settle above $40,000 for a sustained upward move in the near term. Bitcoin is trading positively above the $38,500 and $38,800 support levels. The price is still trading well above $39,000 and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $39,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is likely to accelerate higher if it settles above $40,200 and $40,500. Bitcoin Price Could Gain Momentum Bitcoin price remained well bid above the $38,200 support zone. BTC started a steady increase and it even broke the $39,000 level and the 100 hourly simple moving average. However, the bulls are struggling to gain strength above the $40,000 zone. The last high was formed near $40,920 before there was a minor downside correction. The price corrected below the $40,000 support level. There was a break below the 23.6% Fib retracement level of the upward wave from the $36,340 swing low to $40,920 high. The price even traded below $39,500, but the bulls were active above the $39,000 support. There is also a major bullish trend line forming with support near $39,000 on the hourly chart of the BTC\/USD pair. The price is also trading nicely above the 50% Fib retracement level of the upward wave from the $36,340 swing low to $40,920 high. On the upside, an initial resistance is near the $40,200 level. The first key resistance is near the $40,500 level. Source: BTCUSD on TradingView.com If there is an upside break above the $40,500 resistance zone, there are chances of more upsides. The next major resistance is near the $41,000 and $41,200 levels. A close above $41,200 could trigger a steady increase towards the $43,500 level. Dip Supported in BTC? If bitcoin fails to climb above the $40,200 and $40,500 resistance levels, it could start a downside correction. An initial support on the downside is near the $39,200 level. The first major support is now near the $39,000 zone and the 100 hourly SMA. A clear downside break below the trend line and $39,000 might call for a move towards the $38,000 level. The next major support is near the $37,800 zone. Technical indicators: Hourly MACD \u2013 The MACD is slowly gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level. Major Support Levels \u2013 $39,200, followed by $39,000. Major Resistance Levels \u2013 $40,200, $40,500 and $42,000.<\/p>\n","protected":false},"author":67,"featured_media":460952,"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-468414","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 Could Gain Momentum<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Dip Supported in BTC?<\/h2>\n