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{"id":492618,"date":"2022-06-09T03:08:36","date_gmt":"2022-06-09T03:08:36","guid":{"rendered":"https:\/\/uniquehot.com\/?p=492618"},"modified":"2024-06-11T14:20:49","modified_gmt":"2024-06-11T14:20:49","slug":"bitcoin-stuck-range-30k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-stuck-range-30k\/","title":{"rendered":"TA: Bitcoin Stuck In Key Range, Why A Major Breakout Is Possible"},"content":{"rendered":"

Bitcoin is holding the key $29,500 support against the US Dollar. BTC must clear the $31,500 resistance zone to start a major increase in the near term.<\/em><\/p>\n

\n
Bitcoin is showing a few positive signs above the $29,500 support zone.<\/li>\n
The price is now trading below the $30,500 level and the 100 hourly simple moving average.<\/li>\n
There is a major contracting triangle forming with resistance near $31,250 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could start a strong increase if there is a clear move above the $31,500 resistance.<\/li>\n<\/ul>\n
Bitcoin Price Remains In A Range<\/h2>\n
Bitcoin price attempted a fresh increase above the $31,200 and $31,500 resistance levels<\/a>. However, the bears were active near the $31,500 zone. A high was formed near $31,550 and the price corrected gains.<\/p>\n
There was a move below the $31,000 and $30,500 support levels. A low was formed near $29,848 and the price is now consolidating in a range. There was a recovery above the $30,000 resistance zone. The price spiked above the 23.6% Fib retracement level of the recent decline from the $31,550 high to $29,848 low. Download Bitcoin Miner Awesom Miner Official for Windows<\/a>. Safe install and earn ETH\/BTC.<\/p>\n
However, the price struggled near the $30,700 level. Bitcoin is now trading below the $30,500 level and the 100 hourly simple moving average<\/a>.<\/p>\n
An immediate resistance on the upside is near the $30,400 level and the 100 hourly simple moving average. The first major resistance is near the $30,850 level. The main resistance is near the $31,250 level. There is also a major contracting triangle forming with resistance near $31,250 on the hourly chart of the BTC\/USD pair.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
A clear move above the $31,250 resistance level could send the price further higher. The next major resistance might be $32,000. Any more gains might call for a trend change and a move towards the $33,200 level.<\/p>\n
Downside Break in BTC?<\/h2>\n
If bitcoin fails to clear the $31,250 resistance zone, it could start another decline. An immediate support on the downside is near the $30,000 level.<\/p>\n
The next major support is near the $29,850 level. The main support is still near the $29,500 zone. A downside break below the $29,500 support may perhaps spark another decline. In the stated case, the price could dive towards the $28,500 support zone in the near term. Download Bitcoin Miner Awesom Miner Official for Windows<\/a>. Safe install and earn ETH\/BTC.<\/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 now just below the 50 level.<\/p>\n
Major Support Levels \u2013 $30,000, followed by $29,500.<\/p>\n
Major Resistance Levels \u2013 $30,400, $30,850 and $31,250.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin is holding the key $29,500 support against the US Dollar. BTC must clear the $31,500 resistance zone to start a major increase in the near term. Bitcoin is showing a few positive signs above the $29,500 support zone. The price is now trading below the $30,500 level and the 100 hourly simple moving average. There is a major contracting triangle forming with resistance near $31,250 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start a strong increase if there is a clear move above the $31,500 resistance. Bitcoin Price Remains In A Range Bitcoin price attempted a fresh increase above the $31,200 and $31,500 resistance levels. However, the bears were active near the $31,500 zone. A high was formed near $31,550 and the price corrected gains. There was a move below the $31,000 and $30,500 support levels. A low was formed near $29,848 and the price is now consolidating in a range. There was a recovery above the $30,000 resistance zone. The price spiked above the 23.6% Fib retracement level of the recent decline from the $31,550 high to $29,848 low. Download Bitcoin Miner Awesom Miner Official for Windows. Safe install and earn ETH\/BTC. However, the price struggled near the $30,700 level. Bitcoin is now trading below the $30,500 level and the 100 hourly simple moving average. An immediate resistance on the upside is near the $30,400 level and the 100 hourly simple moving average. The first major resistance is near the $30,850 level. The main resistance is near the $31,250 level. There is also a major contracting triangle forming with resistance near $31,250 on the hourly chart of the BTC\/USD pair. Source: BTCUSD on TradingView.com A clear move above the $31,250 resistance level could send the price further higher. The next major resistance might be $32,000. Any more gains might call for a trend change and a move towards the $33,200 level. Downside Break in BTC? If bitcoin fails to clear the $31,250 resistance zone, it could start another decline. An immediate support on the downside is near the $30,000 level. The next major support is near the $29,850 level. The main support is still near the $29,500 zone. A downside break below the $29,500 support may perhaps spark another decline. In the stated case, the price could dive towards the $28,500 support zone in the near term. Download Bitcoin Miner Awesom Miner Official for Windows. Safe install and earn ETH\/BTC. 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 now just below the 50 level. Major Support Levels \u2013 $30,000, followed by $29,500. Major Resistance Levels \u2013 $30,400, $30,850 and $31,250.<\/p>\n","protected":false},"author":67,"featured_media":462312,"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-492618","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 Stuck In Key Range, Why A Major Breakout Is Possible<\/title>\n<meta name=\"description\" content=\"Bitcoin is holding the key $29,500 support 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 Stuck In Key Range, Why A Major Breakout Is Possible","url":"http:\/\/uniquehot.com\/news\/bitcoin-stuck-range-30k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-stuck-range-30k\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/04\/shutterstock_1146095702-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/04\/shutterstock_1146095702-scaled.jpg?fit=2560%2C1810"},"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":"2022-06-09T03:08:36Z","datePublished":"2022-06-09T03:08:36Z","dateModified":"2024-06-11T14:20:49Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Bitcoin Stuck In Key Range, Why A Major Breakout Is Possible\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-stuck-range-30k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-stuck-range-30k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_1146095702-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_1146095702-scaled.jpg?fit=2560%2C1810\"},\"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\":\"2022-06-09T03:08:36Z\",\"datePublished\":\"2022-06-09T03:08:36Z\",\"dateModified\":\"2024-06-11T14:20:49Z\"}<\/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\/04\/shutterstock_1146095702-scaled.jpg?fit=2560%2C1810","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/492618","targetHints":{"allow":["GET"]}}],"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=492618"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/492618\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/462312"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=492618"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=492618"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=492618"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}

Downside Break in BTC?<\/h2>\nIf bitcoin fails to clear the $31,250 resistance zone, it could start another decline. An immediate support on the downside is near the $30,000 level.<\/p>\n