BTCUSD on TradingView.com<\/a><\/p>\nThe first major resistance is near $36,780, above which the price might accelerate further higher. In the stated case, it could test the $37,000 level. Any more gains might send BTC toward the $37,500 level, above which the price could gain bullish momentum and rally toward $38,000.<\/p>\n
More Losses In BTC?<\/h2>\n If Bitcoin fails to rise above the $36,000 resistance zone, it could continue to move down. Immediate support on the downside is near the $35,150 level.<\/p>\n
The next major support is $35,000. If there is a move below $35,000, there is a risk of more downsides. In the stated case, the price could drop toward the key support at $34,650 in the near term.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now losing 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 $35,150, followed by $34,650.<\/p>\n
Major Resistance Levels \u2013 $36,000, $36,780, and $37,000.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price declined below the $36,000 zone. BTC tested the $34,650 support zone and is currently consolidating losses near $35,500. Bitcoin declined heavily after the US CPI declined more than expected. The price is trading below $36,500 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance near $36,050 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could trade in a range before the bulls attempt a new increase in the near term. Bitcoin Price Revisits Key Support Bitcoin price failed to surpass the $37,500 resistance. BTC started a fresh decline from the $37,423 high and declined below many supports. There was a move below the $36,000 and $35,500 levels. The price even spiked below $35,000. It retested the $34,650 support zone. A low was formed near $34,666 and the price is now correcting losses. There was a move above the $35,000 level. The price climbed above the 23.6% Fib retracement level of the recent drop from the $37,423 swing high to the $34,666 low. Bitcoin is now trading below $36,500 and the 100 hourly Simple moving average. There is also a key bearish trend line forming with resistance near $36,050 on the hourly chart of the BTC\/USD pair. On the upside, immediate resistance is near the $35,680 level. The next key resistance could be near $36,000 or the trend line. The trend line is close to the 50% Fib retracement level of the recent drop from the $37,423 swing high to the $34,666 low. Source: BTCUSD on TradingView.com The first major resistance is near $36,780, above which the price might accelerate further higher. In the stated case, it could test the $37,000 level. Any more gains might send BTC toward the $37,500 level, above which the price could gain bullish momentum and rally toward $38,000. More Losses In BTC? If Bitcoin fails to rise above the $36,000 resistance zone, it could continue to move down. Immediate support on the downside is near the $35,150 level. The next major support is $35,000. If there is a move below $35,000, there is a risk of more downsides. In the stated case, the price could drop toward the key support at $34,650 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 $35,150, followed by $34,650. Major Resistance Levels \u2013 $36,000, $36,780, and $37,000.<\/p>\n","protected":false},"author":67,"featured_media":462606,"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-560718","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 Takes Hit Despite Drop in US CPI But Bulls Still In Control<\/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