{"id":556021,"date":"2023-10-19T03:09:40","date_gmt":"2023-10-19T03:09:40","guid":{"rendered":"https:\/\/uniquehot.com\/?p=556021"},"modified":"2024-06-11T13:04:12","modified_gmt":"2024-06-11T13:04:12","slug":"bitcoin-price-thrust-28k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-thrust-28k\/","title":{"rendered":"Bitcoin Price Could See Downside Thrust Before Fresh Increase To $29K"},"content":{"rendered":"<p><em>Bitcoin price is slowly moving lower below the $28,500 level. BTC could drop toward the $28,000 level or the 100 hourly SMA before the bulls take a stand.<\/em><\/p>\n<ul>\n<li>Bitcoin is struggling to gain traction for a move above the $28,500 level.<\/li>\n<li>The price is trading above $27,750 and the 100 hourly Simple moving average.<\/li>\n<li>There was a break below a key bullish trend line with support near $28,400 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could revisit the 100 hourly Simple moving average before it attempts a fresh increase.<\/li>\n<\/ul>\n<h2>Bitcoin Price Extends Downside Correction<\/h2>\n<p>Bitcoin price started a downside correction from the <a href=\"https:\/\/uniquehot.com\/analysis\/btc\/bitcoin-price-liftoff-30k-2\/\" target=\"_blank\" rel=\"noopener \">$30,000 resistance zone<\/a>. BTC struggled to stay in a positive zone and settled below the $28,500 pivot level.<\/p>\n<p>Recently, the bears pushed the price below the $28,200 level. Besides, there was a break below a key bullish trend line with support near $28,400 on the hourly chart of the BTC\/USD pair. A low is formed near $28,150 and the price is now consolidating losses.<\/p>\n<p>Bitcoin is now trading above $27,750 and the <a href=\"https:\/\/uniquehot.com\/analysis\/btc\/bitcoin-price-rally-toward-30k\/\" target=\"_blank\" rel=\"noopener \">100 hourly Simple moving average<\/a>. On the upside, immediate resistance is near the $28,550 level. It is close to the 50% Fib retracement level of the recent decline from the $28,980 swing high to the $28,150 low.<\/p>\n<p>The next key resistance could be near $28,800 or the 76.4% Fib retracement level of the recent decline from the $28,980 swing high to the $28,150 low.<\/p>\n<p><a href=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/10\/Bitcoin-13.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-556022\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/10\/Bitcoin-13.png?resize=1024%2C468\" alt=\"Bitcoin Price\" width=\"1024\" height=\"468\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/10\/Bitcoin-13.png?w=1835 1835w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/10\/Bitcoin-13.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/10\/Bitcoin-13.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/10\/Bitcoin-13.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/10\/Bitcoin-13.png?w=1536 1536w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/10\/Bitcoin-13.png?w=750 750w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/10\/Bitcoin-13.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/p>\n<p>The main resistance is now near the $29,000 zone. A clear move above the $29,000 resistance zone could set the pace for a larger increase. The next key resistance could be $29,500. Any more gains might send BTC toward the $30,000 level.<\/p>\n<h2>More Losses In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $28,550 resistance zone, it could slide further. Immediate support on the downside is near the $28,150 level.<\/p>\n<p>The next major support is near the $28,000 level and the 100 hourly Simple moving average. A downside break and close below the $28,000 support might trigger more losses in the near term. The next support sits at $27,660, below which it could test $28,120.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $28,150, followed by $28,000.<\/p>\n<p>Major Resistance Levels \u2013 $28,550, $28,800, and $29,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is slowly moving lower below the $28,500 level. BTC could drop toward the $28,000 level or the 100 hourly SMA before the bulls take a stand. Bitcoin is struggling to gain traction for a move above the $28,500 level. The price is trading above $27,750 and the 100 hourly Simple moving average. There was a break below a key bullish trend line with support near $28,400 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could revisit the 100 hourly Simple moving average before it attempts a fresh increase. Bitcoin Price Extends Downside Correction Bitcoin price started a downside correction from the $30,000 resistance zone. BTC struggled to stay in a positive zone and settled below the $28,500 pivot level. Recently, the bears pushed the price below the $28,200 level. Besides, there was a break below a key bullish trend line with support near $28,400 on the hourly chart of the BTC\/USD pair. A low is formed near $28,150 and the price is now consolidating losses. Bitcoin is now trading above $27,750 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $28,550 level. It is close to the 50% Fib retracement level of the recent decline from the $28,980 swing high to the $28,150 low. The next key resistance could be near $28,800 or the 76.4% Fib retracement level of the recent decline from the $28,980 swing high to the $28,150 low. Source: BTCUSD on TradingView.com The main resistance is now near the $29,000 zone. A clear move above the $29,000 resistance zone could set the pace for a larger increase. The next key resistance could be $29,500. Any more gains might send BTC toward the $30,000 level. More Losses In BTC? If Bitcoin fails to rise above the $28,550 resistance zone, it could slide further. Immediate support on the downside is near the $28,150 level. The next major support is near the $28,000 level and the 100 hourly Simple moving average. A downside break and close below the $28,000 support might trigger more losses in the near term. The next support sits at $27,660, below which it could test $28,120. 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 $28,150, followed by $28,000. Major Resistance Levels \u2013 $28,550, $28,800, and $29,000.<\/p>\n","protected":false},"author":67,"featured_media":459773,"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-556021","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<title>Bitcoin Price Could See Downside Thrust Before Fresh Increase To $29K<\/title>\n<meta name=\"description\" content=\"Bitcoin price is slowly moving lower below the $28,500 level. 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Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation. As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. 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 Could See Downside Thrust Before Fresh Increase To $29K","url":"http:\/\/uniquehot.com\/news\/bitcoin-price-thrust-28k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-price-thrust-28k\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/03\/shutterstock_1363186970.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/03\/shutterstock_1363186970.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":"2023-10-19T03:09:40Z","datePublished":"2023-10-19T03:09:40Z","dateModified":"2024-06-11T13:04:12Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Could See Downside Thrust Before Fresh Increase To $29K\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-thrust-28k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-thrust-28k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_1363186970.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_1363186970.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\":\"2023-10-19T03:09:40Z\",\"datePublished\":\"2023-10-19T03:09:40Z\",\"dateModified\":\"2024-06-11T13:04:12Z\"}<\/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_1363186970.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/556021"}],"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=556021"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/556021\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/459773"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=556021"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=556021"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=556021"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}