Bitcoin Price Rally Loses Steam But This Support Might Spark Another Surge<\/title>\n<meta name=\"description\" content=\"Bitcoin price surged over 15% and cleared the $24,000 resistance. BTC might correct lower, but dips might be supported near the $23,500 zone.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uniquehot.com\/news\/bitcoin-price-rally-24k\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Price Rally Loses Steam But This Support Might Spark Another Surge\" \/>\n<meta property=\"og:description\" content=\"Bitcoin price surged over 15% and cleared the $24,000 resistance. 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{"id":522908,"date":"2023-03-14T02:58:15","date_gmt":"2023-03-14T02:58:15","guid":{"rendered":"https:\/\/uniquehot.com\/?p=522908"},"modified":"2024-06-11T08:04:15","modified_gmt":"2024-06-11T08:04:15","slug":"bitcoin-price-rally-24k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-rally-24k\/","title":{"rendered":"Bitcoin Price Rally Loses Steam But This Support Might Spark Another Surge"},"content":{"rendered":"

Bitcoin price surged over 15% and cleared the $24,000 resistance. BTC might correct lower, but dips might be supported near the $23,500 zone.<\/em><\/p>\n

\n
Bitcoin started a strong increase above the $23,500 resistance zone.<\/li>\n
The price is trading above $24,000 and the 100 hourly simple moving average.<\/li>\n
There is a short-term rising channel forming with support near $24,220 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could correct lower towards the $23,600 and $23,500 support levels.<\/li>\n<\/ul>\n
Bitcoin Price Surges Above $24K<\/h2>\n
Bitcoin price started a strong increase above the $22,000 resistance zone<\/a>. BTC gained bullish momentum and was able to clear the $23,500 resistance to move further into a positive zone.<\/p>\n
The price is up over 15% and there was a clear move above the $24,000 resistance zone. A high is formed near $24,599 and the price is now consolidating gains. There is also a short-term rising channel forming with support near $24,220 on the hourly chart of the BTC\/USD pair.<\/p>\n
Bitcoin price is now trading above $24,000 and the 100 hourly simple moving average<\/a>. It is also well above the 23.6% Fib retracement level of the upward move from the $19,550 swing low to $24,599 high.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/p>\n
An immediate resistance is near the $24,580 level. The next major resistance is near the $24,620 zone. A close above the $24,620 resistance might start a fresh increase towards the $25,000 resistance. The next key resistance is near the $25,200 zone, above which the price might gain bullish momentum and test $26,500.<\/p>\n
Dips Limited in BTC?<\/h2>\n
If bitcoin price fails to clear the $24,620 resistance, it could correct lower. An immediate support on the downside is near the $24,220 zone and the channel lower trend line.<\/p>\n
The next major support is near the $23,500 zone, below which the price might drop to $22,800. The next major support is near the $22,000 level or the 50% Fib retracement level of the upward move from the $19,550 swing low to $24,599 high. Any more losses might send the price towards the $21,200 level and the 100 hourly simple moving average.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now losing pace in the bullish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now in the overbought zone.<\/p>\n
Major Support Levels \u2013 $24,220, followed by $23,500.<\/p>\n
Major Resistance Levels \u2013 $24,620, $25,000 and $25,200.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price surged over 15% and cleared the $24,000 resistance. BTC might correct lower, but dips might be supported near the $23,500 zone. Bitcoin started a strong increase above the $23,500 resistance zone. The price is trading above $24,000 and the 100 hourly simple moving average. There is a short-term rising channel forming with support near $24,220 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could correct lower towards the $23,600 and $23,500 support levels. Bitcoin Price Surges Above $24K Bitcoin price started a strong increase above the $22,000 resistance zone. BTC gained bullish momentum and was able to clear the $23,500 resistance to move further into a positive zone. The price is up over 15% and there was a clear move above the $24,000 resistance zone. A high is formed near $24,599 and the price is now consolidating gains. There is also a short-term rising channel forming with support near $24,220 on the hourly chart of the BTC\/USD pair. Bitcoin price is now trading above $24,000 and the 100 hourly simple moving average. It is also well above the 23.6% Fib retracement level of the upward move from the $19,550 swing low to $24,599 high. Source: BTCUSD on TradingView.com An immediate resistance is near the $24,580 level. The next major resistance is near the $24,620 zone. A close above the $24,620 resistance might start a fresh increase towards the $25,000 resistance. The next key resistance is near the $25,200 zone, above which the price might gain bullish momentum and test $26,500. Dips Limited in BTC? If bitcoin price fails to clear the $24,620 resistance, it could correct lower. An immediate support on the downside is near the $24,220 zone and the channel lower trend line. The next major support is near the $23,500 zone, below which the price might drop to $22,800. The next major support is near the $22,000 level or the 50% Fib retracement level of the upward move from the $19,550 swing low to $24,599 high. Any more losses might send the price towards the $21,200 level and the 100 hourly simple moving average. Technical indicators: Hourly MACD \u2013 The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now in the overbought zone. Major Support Levels \u2013 $24,220, followed by $23,500. Major Resistance Levels \u2013 $24,620, $25,000 and $25,200.<\/p>\n","protected":false},"author":67,"featured_media":462816,"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":[428,679,1144,78790,76835],"class_list":["post-522908","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\nBitcoin Price Rally Loses Steam But This Support Might Spark Another Surge<\/title>\n<meta name=\"description\" content=\"Bitcoin price surged over 15% and cleared the $24,000 resistance. 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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":"Bitcoin Price Rally Loses Steam But This Support Might Spark Another Surge","url":"http:\/\/uniquehot.com\/news\/bitcoin-price-rally-24k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-price-rally-24k\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/05\/Depositphotos_180246254_s-2019.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/05\/Depositphotos_180246254_s-2019.jpg?fit=1000%2C667"},"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","bitcoin price","btcusd","btcusdt","xbtusd"],"dateCreated":"2023-03-14T02:58:15Z","datePublished":"2023-03-14T02:58:15Z","dateModified":"2024-06-11T08:04:15Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Rally Loses Steam But This Support Might Spark Another Surge\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-rally-24k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-rally-24k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/Depositphotos_180246254_s-2019.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/Depositphotos_180246254_s-2019.jpg?fit=1000%2C667\"},\"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\",\"bitcoin price\",\"btcusd\",\"btcusdt\",\"xbtusd\"],\"dateCreated\":\"2023-03-14T02:58:15Z\",\"datePublished\":\"2023-03-14T02:58:15Z\",\"dateModified\":\"2024-06-11T08:04:15Z\"}<\/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\/05\/Depositphotos_180246254_s-2019.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/522908"}],"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=522908"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/522908\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/462816"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=522908"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=522908"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=522908"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}