{"id":558915,"date":"2023-11-03T03:14:18","date_gmt":"2023-11-03T03:14:18","guid":{"rendered":"https:\/\/uniquehot.com\/?p=558915"},"modified":"2024-06-11T14:30:43","modified_gmt":"2024-06-11T14:30:43","slug":"bitcoin-price-key-juncture-34k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-key-juncture-34k\/","title":{"rendered":"Bitcoin Price Reaches Key Juncture, Is This Bulls Trap or Technical Correction?"},"content":{"rendered":"<p><em>Bitcoin price failed to continue higher above $36,000. BTC corrected gains and might find strong buying interest near the $34,200 support zone.<\/em><\/p>\n<ul>\n<li>Bitcoin corrected gains from the $36,000 resistance zone.<\/li>\n<li>The price is trading near $34,700 and the 100 hourly Simple moving average.<\/li>\n<li>There is a major bullish trend line forming with support near $34,300 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair must stay above the $34,000 support to start a fresh increase in the near term.<\/li>\n<\/ul>\n<h2>Bitcoin Price Holds Support<\/h2>\n<p>Bitcoin price attempted <a href=\"https:\/\/uniquehot.com\/analysis\/btc\/bitcoin-price-resumes-rally-37k\/\" target=\"_blank\" rel=\"noopener \">another rally above the $35,000 resistance<\/a>. BTC cleared the $35,500 level but struggled near the $36,000 level. There was no test of the $36,200 resistance zone and the price started a downside correction.<\/p>\n<p>There was a move below the $35,500 and $35,000 levels. The price even spiked below the $34,500 level and the 100 hourly Simple moving average. A low is formed near $34,350 and the price is now consolidating losses near the 23.6% Fib retracement level of the recent decline from the $35,945 swing high to the $34,350 low.<\/p>\n<p>Bitcoin also trades near $34,700 and the <a href=\"https:\/\/uniquehot.com\/analysis\/btc\/bitcoin-price-vulnerable-35k\/\" target=\"_blank\" rel=\"noopener \">100 hourly Simple moving average<\/a>. Besides, there is a major bullish trend line forming with support near $34,300 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>On the upside, immediate resistance is near the $35,750 level. The next key resistance could be near $35,150 or the 50% Fib retracement level of the recent decline from the $35,945 swing high to the $34,350 low. A clear move above the $35,150 resistance might open the doors for a move toward the $36,000 resistance.<\/p>\n<p><a href=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/11\/Bitcoin-2.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-558916\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/11\/Bitcoin-2.png?resize=1024%2C468\" alt=\"Bitcoin Price \" width=\"1024\" height=\"468\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/11\/Bitcoin-2.png?w=1835 1835w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/11\/Bitcoin-2.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/11\/Bitcoin-2.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/11\/Bitcoin-2.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/11\/Bitcoin-2.png?w=1536 1536w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/11\/Bitcoin-2.png?w=750 750w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/11\/Bitcoin-2.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 next key resistance could be $36,200, above which the price could rise toward $37,000. Any more gains might send BTC toward the $37,500 level.<\/p>\n<h2>More Losses In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $35,150 resistance zone, it could continue to move down. Immediate support on the downside is near the $34,350 low and the trend line.<\/p>\n<p>The next major support is near the $35,000 zone. 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 $33,200 level in the near term.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now losing 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 $34,300, followed by $34,000.<\/p>\n<p>Major Resistance Levels \u2013 $34,750, $35,150, and $36,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price failed to continue higher above $36,000. BTC corrected gains and might find strong buying interest near the $34,200 support zone. Bitcoin corrected gains from the $36,000 resistance zone. The price is trading near $34,700 and the 100 hourly Simple moving average. There is a major bullish trend line forming with support near $34,300 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair must stay above the $34,000 support to start a fresh increase in the near term. Bitcoin Price Holds Support Bitcoin price attempted another rally above the $35,000 resistance. BTC cleared the $35,500 level but struggled near the $36,000 level. There was no test of the $36,200 resistance zone and the price started a downside correction. There was a move below the $35,500 and $35,000 levels. The price even spiked below the $34,500 level and the 100 hourly Simple moving average. A low is formed near $34,350 and the price is now consolidating losses near the 23.6% Fib retracement level of the recent decline from the $35,945 swing high to the $34,350 low. Bitcoin also trades near $34,700 and the 100 hourly Simple moving average. Besides, there is a major bullish trend line forming with support near $34,300 on the hourly chart of the BTC\/USD pair. On the upside, immediate resistance is near the $35,750 level. The next key resistance could be near $35,150 or the 50% Fib retracement level of the recent decline from the $35,945 swing high to the $34,350 low. A clear move above the $35,150 resistance might open the doors for a move toward the $36,000 resistance. Source: BTCUSD on TradingView.com The next key resistance could be $36,200, above which the price could rise toward $37,000. Any more gains might send BTC toward the $37,500 level. More Losses In BTC? If Bitcoin fails to rise above the $35,150 resistance zone, it could continue to move down. Immediate support on the downside is near the $34,350 low and the trend line. The next major support is near the $35,000 zone. 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 $33,200 level 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 now below the 50 level. Major Support Levels \u2013 $34,300, followed by $34,000. Major Resistance Levels \u2013 $34,750, $35,150, and $36,000.<\/p>\n","protected":false},"author":67,"featured_media":459185,"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-558915","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 Reaches Key Juncture, Is This Bulls Trap or Technical Correction?<\/title>\n<meta name=\"description\" content=\"Bitcoin price failed to continue higher above $36,000. 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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 Reaches Key Juncture, Is This Bulls Trap or Technical Correction?","url":"http:\/\/uniquehot.com\/news\/bitcoin-price-key-juncture-34k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-price-key-juncture-34k\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/03\/shutterstock_1043982583.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/03\/shutterstock_1043982583.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":"2023-11-03T03:14:18Z","datePublished":"2023-11-03T03:14:18Z","dateModified":"2024-06-11T14:30:43Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Reaches Key Juncture, Is This Bulls Trap or Technical Correction?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-key-juncture-34k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-key-juncture-34k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_1043982583.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_1043982583.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\":\"2023-11-03T03:14:18Z\",\"datePublished\":\"2023-11-03T03:14:18Z\",\"dateModified\":\"2024-06-11T14:30:43Z\"}<\/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_1043982583.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/558915"}],"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=558915"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/558915\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/459185"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=558915"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=558915"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=558915"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}