{"id":482028,"date":"2022-01-26T03:28:09","date_gmt":"2022-01-26T03:28:09","guid":{"rendered":"https:\/\/uniquehot.com\/?p=482028"},"modified":"2024-06-11T14:10:54","modified_gmt":"2024-06-11T14:10:54","slug":"ta-bitcoin-eyes-steady-recovery-why-bulls-might-struggle","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ta-bitcoin-eyes-steady-recovery-why-bulls-might-struggle\/","title":{"rendered":"TA: Bitcoin Eyes Steady Recovery, Why Bulls Might Struggle"},"content":{"rendered":"<p><em>Bitcoin started a recovery wave above $36,000 against the US Dollar. BTC must settle above the $38,000 zone to start a steady upward move.<\/em><\/p>\n<ul>\n<li>Bitcoin is trying to clear the $37,500 and $38,000 resistance levels.<\/li>\n<li>The price is now trading above $36,500 and the 100 hourly simple moving average.<\/li>\n<li>There is a key breakout pattern forming with resistance near $37,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could start a steady upward move if there is a clear move above the $38,000 resistance.<\/li>\n<\/ul>\n<h2>Bitcoin Price Eyes Upside Continuation<\/h2>\n<p>Bitcoin price managed to stay above the $35,000 zone and started a <a href=\"https:\/\/uniquehot.com\/analysis\/btc\/bitcoin-starts-recovery-38k-key-for-reversal\/\" target=\"_blank\" rel=\"noopener \">recovery wave<\/a>. BTC climbed above the $36,000 resistance zone to move into a short-term bullish zone.<\/p>\n<p>There was a break above the $36,500 and $36,800 resistance levels. Besides, there was a move above the 23.6% Fib retracement level of the key drop from the $43,495 swing high to $32,950 low. It is now consolidating near the $37,000 level and trading well above the <a href=\"https:\/\/uniquehot.com\/analysis\/btc\/ta-bitcoin-turns-bearish-bears-in-control-below-40k\/\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>.<\/p>\n<p>On the upside, an initial resistance is near the $37,400 level. There is also a key breakout pattern forming with resistance near $37,500 on the hourly chart of the BTC\/USD pair.<\/p>\n<p><a href=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/01\/Bitcoin-18.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-482029\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/01\/Bitcoin-18.png?resize=1950%2C1113\" alt=\"Bitcoin Price\" width=\"1950\" height=\"1113\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/01\/Bitcoin-18.png?w=1950 1950w, https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/01\/Bitcoin-18.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/01\/Bitcoin-18.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/01\/Bitcoin-18.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/01\/Bitcoin-18.png?w=1536 1536w, https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/01\/Bitcoin-18.png?w=750 750w, https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/01\/Bitcoin-18.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<pre>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/pre>\n<p>The first major resistance is near the $38,200 zone. It is near the 50% Fib retracement level of the key drop from the $43,495 swing high to $32,950 low. An upside break above the $38,200 resistance could start a steady upward move. The next key resistance is near the $49,200 level, above which the bulls might aim a test of $40,000. Any more gains might send bitcoin towards the $41,200 level.<\/p>\n<h2>Fresh Decline in BTC?<\/h2>\n<p>If bitcoin fails to start a fresh increase above $38,200, it could start another decline. An immediate support on the downside is near the $36,800 zone.<\/p>\n<p>The first major support is seen near the $36,000 zone and the 100 hourly SMA. A downside break below the $36,000 support zone may perhaps start a fresh decline. The next major support is near $35,400, below which the price could revisit $34,000.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $36,000, followed by $35,400.<\/p>\n<p>Major Resistance Levels \u2013 $37,400, $38,000 and $38,200.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin started a recovery wave above $36,000 against the US Dollar. BTC must settle above the $38,000 zone to start a steady upward move. Bitcoin is trying to clear the $37,500 and $38,000 resistance levels. The price is now trading above $36,500 and the 100 hourly simple moving average. There is a key breakout pattern forming with resistance near $37,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start a steady upward move if there is a clear move above the $38,000 resistance. Bitcoin Price Eyes Upside Continuation Bitcoin price managed to stay above the $35,000 zone and started a recovery wave. BTC climbed above the $36,000 resistance zone to move into a short-term bullish zone. There was a break above the $36,500 and $36,800 resistance levels. Besides, there was a move above the 23.6% Fib retracement level of the key drop from the $43,495 swing high to $32,950 low. It is now consolidating near the $37,000 level and trading well above the 100 hourly simple moving average. On the upside, an initial resistance is near the $37,400 level. There is also a key breakout pattern forming with resistance near $37,500 on the hourly chart of the BTC\/USD pair. Source: BTCUSD on TradingView.com The first major resistance is near the $38,200 zone. It is near the 50% Fib retracement level of the key drop from the $43,495 swing high to $32,950 low. An upside break above the $38,200 resistance could start a steady upward move. The next key resistance is near the $49,200 level, above which the bulls might aim a test of $40,000. Any more gains might send bitcoin towards the $41,200 level. Fresh Decline in BTC? If bitcoin fails to start a fresh increase above $38,200, it could start another decline. An immediate support on the downside is near the $36,800 zone. The first major support is seen near the $36,000 zone and the 100 hourly SMA. A downside break below the $36,000 support zone may perhaps start a fresh decline. The next major support is near $35,400, below which the price could revisit $34,000. Technical indicators: Hourly MACD \u2013 The MACD is now 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 $36,000, followed by $35,400. Major Resistance Levels \u2013 $37,400, $38,000 and $38,200.<\/p>\n","protected":false},"author":67,"featured_media":462714,"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-482028","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<title>TA: Bitcoin Eyes Steady Recovery, Why Bulls Might Struggle<\/title>\n<meta name=\"description\" content=\"Bitcoin started a recovery wave above $36,000 against the US Dollar. 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