{"id":482541,"date":"2022-02-01T03:08:58","date_gmt":"2022-02-01T03:08:58","guid":{"rendered":"https:\/\/uniquehot.com\/?p=482541"},"modified":"2024-06-11T14:11:05","modified_gmt":"2024-06-11T14:11:05","slug":"bitcoin-near-crucial-juncture-38800","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-near-crucial-juncture-38800\/","title":{"rendered":"TA: Bitcoin Near Crucial Juncture: Why BTC Could Surge Further"},"content":{"rendered":"
Bitcoin is attempting an upside break above the $38,800 resistance zone against the US Dollar. BTC could rally further unless it fails to stay above $37,400.<\/em><\/p>\n Bitcoin price corrected lower below the $38,000 pivot level<\/a>. BTC even traded below $37,000, but the bulls were active near the $37,650. A low was formed near $36,667 and the price started a fresh increase.<\/p>\n There was a clear move above the $37,500 resistance zone and the 100 hourly simple moving average<\/a>. Besides, there was a break above a major bearish trend line with resistance near $37,450 on the hourly chart of the BTC\/USD pair.<\/p>\n The pair surged above the $38,000 resistance zone. A high is formed near $38,786, and bitcoin is now facing a major resistance near the $38,800 zone.<\/p>\n It is currently trading near the 23.6% Fib retracement level of the upward move from the $36,667 swing low to $38,786 high. On the upside, an initial resistance is near the $38,500 level.<\/p>\n <\/a><\/p>\n The first major resistance is near the $38,800 zone. A clear move above the $38,800 zone could push the price further higher. The next key resistance is near the $39,500 zone. If the bulls able to clear the $39,500 level, the price may perhaps clear the $40,000 resistance zone.<\/p>\n If bitcoin fails to start a fresh increase above $38,800, it could start a downside correction. An immediate support on the downside is near the $38,000 zone.<\/p>\n The first major support is seen near the $37,750 zone. It is near the 50% Fib retracement level of the upward move from the $36,667 swing low to $38,786 high. A downside break below the $37,500 support zone may perhaps push the price towards the $37,000 support zone.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is now losing momentum 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 $37,500, followed by $37,000.<\/p>\n Major Resistance Levels \u2013 $38,500, $38,800 and $40,000.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin is attempting an upside break above the $38,800 resistance zone against the US Dollar. BTC could rally further unless it fails to stay above $37,400. Bitcoin started a fresh increase and was able to clear the $38,000 resistance zone. The price is now trading above $37,500 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $37,450 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could continue to rise if there is a clear move above the $38,800 resistance zone. Bitcoin Price Starts Fresh Increase Bitcoin price corrected lower below the $38,000 pivot level. BTC even traded below $37,000, but the bulls were active near the $37,650. A low was formed near $36,667 and the price started a fresh increase. There was a clear move above the $37,500 resistance zone and the 100 hourly simple moving average. Besides, there was a break above a major bearish trend line with resistance near $37,450 on the hourly chart of the BTC\/USD pair. The pair surged above the $38,000 resistance zone. A high is formed near $38,786, and bitcoin is now facing a major resistance near the $38,800 zone. It is currently trading near the 23.6% Fib retracement level of the upward move from the $36,667 swing low to $38,786 high. On the upside, an initial resistance is near the $38,500 level. Source: BTCUSD on TradingView.com The first major resistance is near the $38,800 zone. A clear move above the $38,800 zone could push the price further higher. The next key resistance is near the $39,500 zone. If the bulls able to clear the $39,500 level, the price may perhaps clear the $40,000 resistance zone. Downsides Limited in BTC? If bitcoin fails to start a fresh increase above $38,800, it could start a downside correction. An immediate support on the downside is near the $38,000 zone. The first major support is seen near the $37,750 zone. It is near the 50% Fib retracement level of the upward move from the $36,667 swing low to $38,786 high. A downside break below the $37,500 support zone may perhaps push the price towards the $37,000 support zone. Technical indicators: Hourly MACD \u2013 The MACD is now losing momentum 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 $37,500, followed by $37,000. Major Resistance Levels \u2013 $38,500, $38,800 and $40,000.<\/p>\n","protected":false},"author":67,"featured_media":458261,"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-482541","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 Starts Fresh Increase<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Downsides Limited in BTC?<\/h2>\n