BTCUSD on TradingView.com<\/a><\/p>\nThe main resistance is still near the $35,000 zone. A clear move above the $35,000 resistance might start a decent increase. The next key resistance could be $35,500, above which the price could rise toward $36,200. Any more gains might send BTC toward the $37,500 level.<\/p>\n
Bearish Reaction In BTC?<\/h2>\n If Bitcoin fails to rise above the $34,650 resistance zone, it could start a downside correction. Immediate support on the downside is near the $34,270 level and the 100 hourly Simple moving average.<\/p>\n
The next major support is near the $34,000 level. If there is a move below $34,000, there is a risk of more downsides. In the stated case, the price could drop toward the $33,500 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 just above the 50 level.<\/p>\n
Major Support Levels \u2013 $34,260, followed by $34,000.<\/p>\n
Major Resistance Levels \u2013 $34,650, $34,750, and $35,000.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price is still struggling to clear the key $35,000 resistance. BTC might correct lower and revisit the $34,000 support zone if it continues to struggle near $35,000. Bitcoin is still facing a major hurdle near the $35,000 resistance. The price is trading above $34,250 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support near $34,260 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could correct lower, but the bulls might remain active near $34,000. Bitcoin Price Remains Supported Bitcoin price attempted another increase above the $34,750 resistance. BTC spiked above the $34,950 level. However, the price remained capped below the main barrier at $35,000. A high was formed near $34,953 and the price recently corrected lower. It traded close to the $34,000 level. A low was formed near $34,060 and the price is now attempting a fresh increase. There was a move above the $34,500 level. It climbed above the 50% Fib retracement level of the downward move from the $34,953 swing high to the $34,060 low. Bitcoin is now trading above $34,260 and the 100 hourly Simple moving average. There is also a key bullish trend line forming with support near $34,260 on the hourly chart of the BTC\/USD pair. On the upside, immediate resistance is near the $34,650 level. The next key resistance could be near $34,750 or the 76.4% Fib retracement level of the downward move from the $34,953 swing high to the $34,060 low. Source: BTCUSD on TradingView.com The main resistance is still near the $35,000 zone. A clear move above the $35,000 resistance might start a decent increase. The next key resistance could be $35,500, above which the price could rise toward $36,200. Any more gains might send BTC toward the $37,500 level. Bearish Reaction In BTC? If Bitcoin fails to rise above the $34,650 resistance zone, it could start a downside correction. Immediate support on the downside is near the $34,270 level and the 100 hourly Simple moving average. The next major support is near the $34,000 level. If there is a move below $34,000, there is a risk of more downsides. In the stated case, the price could drop toward the $33,500 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 just above the 50 level. Major Support Levels \u2013 $34,260, followed by $34,000. Major Resistance Levels \u2013 $34,650, $34,750, and $35,000.<\/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-558519","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 Topside Bias Vulnerable If It Continues To Struggle Below $35K<\/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