Bitcoin Price Hesitates, But Further Gains Seem Likely Toward $30K
The post Bitcoin Price Hesitates, But Further Gains Seem Likely Toward $30K appeared on BitcoinEthereumNews.com. Bitcoin price is attempting a fresh increase above $28,500. BTC is eyeing another upside break toward the $30,000 resistance in the near term. Bitcoin found support near $28,150 and started a fresh increase. The price is trading above $28,500 and the 100 hourly Simple moving average. There is a key rising channel forming with resistance near $29,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to rise if there is a close above the $29,000 resistance. Bitcoin Price Eyes Upside Break Bitcoin price struggled below the $29,000 level. BTC even traded below the $28,250 level before the bulls appeared. The price found support near the $28,150 zone and recently started a fresh increase. There was a move above the $28,400 and $28,500 resistance levels. The price cleared the 61.8% Fib retracement level of the downward move from the $28,980 swing high to the $28,150 low. There is also a key rising channel forming with resistance near $29,000 on the hourly chart of the BTC/USD pair. Bitcoin is now trading above $28,500 and the 100 hourly Simple moving average. It is slowly gaining pace and consolidating near the 76.4% Fib retracement level of the downward move from the $28,980 swing high to the $28,150 low. Source: BTCUSD on TradingView.com On the upside, immediate resistance is near the $28,950 level. The next key resistance could be near $29,000 and the channel region. A close 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, above which the bulls might aim for $31,200. Another Decline In BTC? If Bitcoin fails to rise above the $29,000 resistance zone, it could start another decline. Immediate support on…
The post Bitcoin Price Hesitates, But Further Gains Seem Likely Toward $30K appeared on BitcoinEthereumNews.com.
Bitcoin price is attempting a fresh increase above $28,500. BTC is eyeing another upside break toward the $30,000 resistance in the near term. Bitcoin found support near $28,150 and started a fresh increase. The price is trading above $28,500 and the 100 hourly Simple moving average. There is a key rising channel forming with resistance near $29,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to rise if there is a close above the $29,000 resistance. Bitcoin Price Eyes Upside Break Bitcoin price struggled below the $29,000 level. BTC even traded below the $28,250 level before the bulls appeared. The price found support near the $28,150 zone and recently started a fresh increase. There was a move above the $28,400 and $28,500 resistance levels. The price cleared the 61.8% Fib retracement level of the downward move from the $28,980 swing high to the $28,150 low. There is also a key rising channel forming with resistance near $29,000 on the hourly chart of the BTC/USD pair. Bitcoin is now trading above $28,500 and the 100 hourly Simple moving average. It is slowly gaining pace and consolidating near the 76.4% Fib retracement level of the downward move from the $28,980 swing high to the $28,150 low. Source: BTCUSD on TradingView.com On the upside, immediate resistance is near the $28,950 level. The next key resistance could be near $29,000 and the channel region. A close 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, above which the bulls might aim for $31,200. Another Decline In BTC? If Bitcoin fails to rise above the $29,000 resistance zone, it could start another decline. Immediate support on…
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