BTCUSD on TradingView.com<\/a><\/p>\nAn upside break above the $31,000 resistance might send BTC toward $31,500. Any more gains could open the doors for a move toward the $32,200 resistance zone.<\/p>\n
More Losses in BTC?<\/h2>\n If Bitcoin\u2019s price fails to clear the $30,420 resistance, it could continue to move down. Immediate support on the downside is near the $30,000 level.<\/p>\n
The next major support is near the $29,850 level, below which there could be a drop toward the $29,550 support. Any more losses might send the price toward the $29,000 zone in the near term.<\/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 below the 50 level.<\/p>\n
Major Support Levels \u2013 $30,000, followed by $29,550.<\/p>\n
Major Resistance Levels \u2013 $30,200, $30,420, and $31,000.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price is still facing a major hurdle near $31,000. BTC could correct lower below $29,800 if it stays below $31,000 for a long time. Bitcoin is still consolidating below the $31,000 resistance zone. The price is trading below $30,500 and the 100 hourly Simple moving average. There is a key declining channel forming with resistance near $30,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could correct lower toward the $29,550 support or even $29,000. Bitcoin Price Stuck In A Range Bitcoin price remained in a major range below the $31,000 resistance zone. BTC made another attempt to gain pace above the $31,000 resistance but failed. A high was formed near $31,008 before there was a fresh decline. There was a move below the $30,500 level but the bulls were active above the $29,800 zone. A low is formed near $29,834 and the price is now trading in a range. It is trading near the 23.6% Fib retracement level of the recent decline from the $31,008 swing high to the $29,834 low. Bitcoin price is now trading below $30,500 and the 100 hourly Simple moving average. There is also a key declining channel forming with resistance near $30,200 on the hourly chart of the BTC\/USD pair. Immediate resistance is near the $30,200 level. The first major resistance is near the $30,420 level or the 100 hourly Simple moving average. It is close to the 50% Fib retracement level of the recent decline from the $31,008 swing high to the $29,834 low, above which the price might revisit the $31,000 resistance zone. Source: BTCUSD on TradingView.com An upside break above the $31,000 resistance might send BTC toward $31,500. Any more gains could open the doors for a move toward the $32,200 resistance zone. More Losses in BTC? If Bitcoin\u2019s price fails to clear the $30,420 resistance, it could continue to move down. Immediate support on the downside is near the $30,000 level. The next major support is near the $29,850 level, below which there could be a drop toward the $29,550 support. Any more losses might send the price toward the $29,000 zone in the near term. 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 below the 50 level. Major Support Levels \u2013 $30,000, followed by $29,550. Major Resistance Levels \u2013 $30,200, $30,420, and $31,000.<\/p>\n","protected":false},"author":67,"featured_media":460984,"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-540248","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":"\n
Bitcoin Price Needs To Clear $31K For Hopes of a Fresh Rally<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n