BTCUSD on TradingView.com<\/a><\/p>\nThe next key resistance could be $35,500, above which the price could test $36,200. Any more gains might send BTC toward the $36,500 level in the near term.<\/p>\n
Dips In BTC?<\/h2>\n If Bitcoin fails to rise above the $34,750 resistance zone, it could start a downside correction. Immediate support on the downside is near the $34,250 level and the 100 hourly Simple moving average.<\/p>\n
The next major support is near the $33,950 level or the 61.8% Fib retracement level of the upward move from the $33,319 swing low to the $34,953 high. If there is a move below $33,950, there is a risk of more downsides. In the stated case, the price could decline toward the $33,400 level or even $33,200.<\/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 $34,280, followed by $33,950.<\/p>\n
Major Resistance Levels \u2013 $34,750, $34,950, and $35,000.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price is still struggling to gain pace for a move above $35,000. BTC could correct a few points before the bulls attempt another increase. Bitcoin is still struggling to clear the $35,000 resistance. The price is trading above $34,150 and the 100 hourly Simple moving average. There is a short-term rising channel forming with support near $34,280 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could correct lower toward the $34,000 zone before it attempts a fresh increase. Bitcoin Price Eyes Fresh Increase Bitcoin price remained strong above the $33,800 level. BTC formed a base and attempted another increase above the $34,500 resistance zone. It even spiked toward the main barrier at $35,000. However, there was no upside continuation. The price formed a top near $34,953 and recently corrected lower. There was a move below the $34,600 level. The price declined below the 23.6% Fib retracement level of the upward move from the $33,319 swing low to the $34,953 high. Bitcoin is now trading above $34,280 and the 100 hourly Simple moving average. There is also a short-term rising channel forming with support near $34,280 on the hourly chart of the BTC\/USD pair. On the upside, immediate resistance is near the $34,780 level. The next key resistance could be near $34,950 or the channel upper trend line. The main resistance is still near the $35,000 zone. A clear move above the $35,000 resistance might start a decent increase. Source: BTCUSD on TradingView.com The next key resistance could be $35,500, above which the price could test $36,200. Any more gains might send BTC toward the $36,500 level in the near term. Dips In BTC? If Bitcoin fails to rise above the $34,750 resistance zone, it could start a downside correction. Immediate support on the downside is near the $34,250 level and the 100 hourly Simple moving average. The next major support is near the $33,950 level or the 61.8% Fib retracement level of the upward move from the $33,319 swing low to the $34,953 high. If there is a move below $33,950, there is a risk of more downsides. In the stated case, the price could decline toward the $33,400 level or even $33,200. 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 $34,280, followed by $33,950. Major Resistance Levels \u2013 $34,750, $34,950, and $35,000.<\/p>\n","protected":false},"author":67,"featured_media":453636,"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-558328","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 Hints At Potential Correction, Buy The Dip?<\/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