{"id":119941,"date":"2023-07-09T10:50:46","date_gmt":"2023-07-09T10:50:46","guid":{"rendered":"https:\/\/dripp.zone\/news\/btc-bulls-fight-for-control-will-31200-resistance-give-way-crypto-news\/"},"modified":"2023-07-09T10:50:49","modified_gmt":"2023-07-09T10:50:49","slug":"btc-bulls-fight-for-control-will-31200-resistance-give-way-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/btc-bulls-fight-for-control-will-31200-resistance-give-way-crypto-news\/","title":{"rendered":"$BTC Bulls Fight For Control, Will $31200 Resistance Give Way?\n &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"post-153735\">\n<p><!--\n     \n\n<div class=\"marketThumbs\">\n             <noscript><img loading=\"lazy\" width=\"1200\" height=\"681\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/07\/09155801\/OtoT7HYZ-e1688898493974.png\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Bitcoin Price Analysis\" decoding=\"async\" srcset=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/07\/09155801\/OtoT7HYZ-e1688898493974.png 1200w, https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/07\/09155801\/OtoT7HYZ-e1688898493974-300x170.png 300w, https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/07\/09155801\/OtoT7HYZ-e1688898493974-768x436.png 768w, https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/07\/09155801\/OtoT7HYZ-e1688898493974-150x85.png 150w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><\/noscript><\/div>\n\n\n--><\/p>\n<p class=\"MarketsUp f-14 d-block\">Published 10 minutes ago  <\/p>\n<div class=\"Atcs\">\n<p><span style=\"font-weight: 400;\">Bitcoin Price Analysis: Over the past seven months, the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price\/bitcoin\/#:~:text=About%20Bitcoin%20(BTC),the%20Coingape%20Crypto%20Price%20Page.\">bitcoin price<\/a> showed a steady recovery in the weekly time frame chart.  This rally backed by a rising trendline made a series of new higher highs and lows, resorting the bullish sentiment back to the largest cryptocurrency.  Amid this bull run, the buyers reclaimed the first <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/glossary\/fibonacci-retracement\/\">Fibonacci retracement<\/a> Barrier of 23.6% at $28000, giving an additional boost to further rally.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<p>Also Read: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/us-fed-powell-ecb-lagarde-aggressively-hawkish-can-bitcoin-price-still-hit-35000\/\">US Fed Powell, ECB Lagarde Aggressively Hawkish, Can Bitcoin Price Still Hit $35000?<\/a><\/p>\n<h2><strong>Bitcoin Price Daily Chart<\/strong><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The Bitcoin price moved in a no-trading zone at $31200 and $29700.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The potential buyers can look at the entry for $31200 or a retest of the rising trendline.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The intraday trading volume in Bitcoin is $11.76 Billion, indicating a 27.5% loss.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"Bitcoin Price Analysis\" width=\"1946\" height=\"1104\" data-lazy-src=\"https:\/\/s3.tradingview.com\/snapshots\/o\/OtoT7HYZ.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"https:\/\/s3.tradingview.com\/snapshots\/o\/OtoT7HYZ.png\" alt=\"Bitcoin Price Analysis\" width=\"1946\" height=\"1104\"\/><\/noscript>Source-Tradingview<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With a significant upswing in Mid-June, the Bitcoin price recently rechallenges the last swing high resistance near $31200.  However, it&#8217;s been two weeks since the buyers are struggling to break this barrier, creating a narrow range of consolidation.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The breakout above the range barrier of $31200, will indicate that the bullish momentum is aggressive and thus, the buyers may drive the BTC price to the potential target of $36000, followed by $42400.<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400;\">Conversely, a possible breakdown below the $29700 range support, will also indicate the failure of buyers to break the last swing high and thus weakness in bullish momentum.<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400;\">This potential correction could tumble the price by 8% and retest the $28000 at 23.6% FIB.<\/span><\/p>\n<h2><b>Will the Bitcoin Recovery Rally Sustain?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The potential pullback at $28000 support would also meet the long-coming support that&#8217;s been leading an uptrend for the last seven months.  This retracement could offer a dip opportunity to reaccumulate at this trendline.  Therefore, the market participants can maintain a bullish outlook till this trendline is intact.<\/span><\/p>\n<p><b>Exponential Moving Average: <\/b><span style=\"font-weight: 400;\">The Bitcoin price above the weekly <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/education\/exponential-moving-average-how-to-leverage-it-in-crypto-market\/\">EMA&#8217;s<\/a>(20, 50, and 100) reflects a bullish sentiment among traders.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<p><b>Relative Strength Index: <\/b><span style=\"font-weight: 400;\">A bearish divergence in the daily <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/glossary\/rsi-relative-strength-index\/\">rsi slope<\/a> project weakness and a higher chance of $29700 support.<\/span><\/p>\n<\/p><\/div>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA153735\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<!--\n                                      \n\n<div class=\"getAuthoname\">\n                                          \n                                                                                 \n                                       <\/div>\n\n \n--><\/p>\n<p>From the past 5 years I am working in Journalism.  I follow the Blockchain &#038; Cryptocurrency from last 3 years.  I have written on a variety of different topics including fashion, beauty, entertainment, and finance.  Reach out to me at brian(at)coingape.com                         <\/p>\n<\/p><\/div>\n<div class=\"author_Image\">\n                                             <img loading=\"lazy\" alt=\"\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" data-lazy-srcset=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\" data-lazy-src=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=200&#038;d=mm&#038;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=200&#038;d=mm&#038;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\"\/><\/noscript>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD153735\">\n<p>    The content presented may include the personal opinion of the author and is subject to market conditions.  Do your market research before investing in cryptocurrencies.  The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n<p>     <!--           <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/category\/price-analysis\/\" class=\"closeArticle2 close-btn\">Close Story<\/a>--><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Published 10 minutes ago Bitcoin Price Analysis: Over the past seven months, the bitcoin price showed a steady recovery in the weekly time frame chart. This rally backed by a rising trendline made a series of new higher highs and lows, resorting the bullish sentiment back to the largest cryptocurrency. Amid this bull run, the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":119942,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[192,29,198,194,195,199,196,193,197,200],"class_list":["post-119941","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-blockchain-business","tag-business","tag-coins","tag-crypto-business","tag-cryptocurrency-business","tag-fiat","tag-metaverse-business","tag-nft-business","tag-token","tag-token-business"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/119941","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=119941"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/119941\/revisions"}],"predecessor-version":[{"id":119943,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/119941\/revisions\/119943"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/119942"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=119941"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=119941"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=119941"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}