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{"id":546784,"date":"2023-08-11T03:42:12","date_gmt":"2023-08-11T03:42:12","guid":{"rendered":"https:\/\/uniquehot.com\/?p=546784"},"modified":"2024-06-11T09:04:09","modified_gmt":"2024-06-11T09:04:09","slug":"bitcoin-price-next-leg-lower-28800","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-next-leg-lower-28800\/","title":{"rendered":"Bitcoin Price Next Leg Lower Underway And At Risk for Key Reasons"},"content":{"rendered":"

Bitcoin price is moving lower from the $30,200 zone. BTC is signaling a fresh decline and there is a risk of a drop toward the $28,500 support.<\/em><\/p>\n

\n
Bitcoin is struggling to remain in a positive zone above $29,200.<\/li>\n
The price is trading below $29,500 and the 100 hourly Simple moving average.<\/li>\n
There is a connecting bearish trend line forming with resistance near $29,450 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could continue to move down if it breaks the $29,200 support zone.<\/li>\n<\/ul>\n
Bitcoin Price Trims Gains<\/h2>\n
Bitcoin price faced another rejection<\/a> above the $30,000 resistance zone. A high was formed near $30,190 and BTC reacted to the downside. There was a move below the $30,000 and $29,800 levels.<\/p>\n
The price declined below the 50% Fib retracement level of the key increase from the $28,628 swing low to the $30,190 high. It seems like the bulls are now putting up some fight near the $29,300 zone. Bitcoin is now trading below $29,500 and the 100 hourly Simple moving average<\/a>.<\/p>\n
There is also a connecting bearish trend line forming with resistance near $29,450 on the hourly chart of the BTC\/USD pair. If there is a fresh increase, the pair could face resistance near the 100 hourly Simple moving average at $29,400.<\/p>\n
$\"Bitcoin$ <\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/p>\n
The next major resistance is near the trend line and $29,500. A close above the trend line could start a decent increase toward $30,000. To spark a steady uptrend, the price must settle above the $30,000 resistance. In the stated case, the price could rise toward $31,200 or even $32,000 in the coming days.<\/p>\n
More Losses In BTC?<\/h2>\n
If Bitcoin fails to clear the $29,500 resistance, it could continue to move down. Immediate support on the downside is near the $29,320 level.<\/p>\n
The next major support is near the $29,220 level or the 61.8% Fib retracement level of the key increase from the $28,628 swing low to the $30,190 high. A downside break below the $29,220 level might spark bearish moves. In the stated case, the price could revisit $29,000. Any more losses might call for a move toward the $28,500 level in the near term.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level.<\/p>\n
Major Support Levels \u2013 $29,220, followed by $29,000.<\/p>\n
Major Resistance Levels \u2013 $29,400, $29,500, and $30,000.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price is moving lower from the $30,200 zone. BTC is signaling a fresh decline and there is a risk of a drop toward the $28,500 support. Bitcoin is struggling to remain in a positive zone above $29,200. The price is trading below $29,500 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with resistance near $29,450 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could continue to move down if it breaks the $29,200 support zone. Bitcoin Price Trims Gains Bitcoin price faced another rejection above the $30,000 resistance zone. A high was formed near $30,190 and BTC reacted to the downside. There was a move below the $30,000 and $29,800 levels. The price declined below the 50% Fib retracement level of the key increase from the $28,628 swing low to the $30,190 high. It seems like the bulls are now putting up some fight near the $29,300 zone. Bitcoin is now trading below $29,500 and the 100 hourly Simple moving average. There is also a connecting bearish trend line forming with resistance near $29,450 on the hourly chart of the BTC\/USD pair. If there is a fresh increase, the pair could face resistance near the 100 hourly Simple moving average at $29,400. Source: BTCUSD on TradingView.com The next major resistance is near the trend line and $29,500. A close above the trend line could start a decent increase toward $30,000. To spark a steady uptrend, the price must settle above the $30,000 resistance. In the stated case, the price could rise toward $31,200 or even $32,000 in the coming days. More Losses In BTC? If Bitcoin fails to clear the $29,500 resistance, it could continue to move down. Immediate support on the downside is near the $29,320 level. The next major support is near the $29,220 level or the 61.8% Fib retracement level of the key increase from the $28,628 swing low to the $30,190 high. A downside break below the $29,220 level might spark bearish moves. In the stated case, the price could revisit $29,000. Any more losses might call for a move toward the $28,500 level in the near term. Technical indicators: Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level. Major Support Levels \u2013 $29,220, followed by $29,000. Major Resistance Levels \u2013 $29,400, $29,500, and $30,000.<\/p>\n","protected":false},"author":67,"featured_media":459493,"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-546784","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 Next Leg Lower Underway And At Risk for Key Reasons<\/title>\n<meta name=\"description\" content=\"Bitcoin price is moving lower from the $30,200 zone. 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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 Next Leg Lower Underway And At Risk for Key Reasons","url":"http:\/\/uniquehot.com\/news\/bitcoin-price-next-leg-lower-28800\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-price-next-leg-lower-28800\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/03\/shutterstock_1610297188.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/03\/shutterstock_1610297188.jpg?fit=1000%2C556"},"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":"2023-08-11T03:42:12Z","datePublished":"2023-08-11T03:42:12Z","dateModified":"2024-06-11T09:04:09Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Next Leg Lower Underway And At Risk for Key Reasons\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-next-leg-lower-28800\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-next-leg-lower-28800\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_1610297188.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_1610297188.jpg?fit=1000%2C556\"},\"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\":\"2023-08-11T03:42:12Z\",\"datePublished\":\"2023-08-11T03:42:12Z\",\"dateModified\":\"2024-06-11T09:04:09Z\"}<\/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\/03\/shutterstock_1610297188.jpg?fit=1000%2C556","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/546784","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=546784"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/546784\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/459493"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=546784"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=546784"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=546784"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}