{"id":168610,"date":"2023-10-05T09:17:52","date_gmt":"2023-10-05T03:47:52","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=168610"},"modified":"2023-10-05T09:17:52","modified_gmt":"2023-10-05T03:47:52","slug":"bitcoin-price-could-restart-increase-if-it-clears-this-key-resistance-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-price-could-restart-increase-if-it-clears-this-key-resistance-crypto-news\/","title":{"rendered":"Bitcoin Price Could Restart Increase If It Clears This Key Resistance &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><em>Bitcoin price found support near the $27,200 zone. BTC is now rising and might accelerate higher if it clears the $27,850 resistance zone.<\/em><\/p>\n<ul>\n<li>Bitcoin is attempting a fresh increase from the $27,200 support.<\/li>\n<li>The price is trading above $27,500 and the 100 hourly Simple moving average.<\/li>\n<li>There is a key rising channel forming with resistance near $27,850 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could rise further and revisit $28,500 if it clears the $27,850 resistance zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Holds Support<\/h2>\n<p>Bitcoin price found support near the $27,200 level after a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-key-juncture-27200\/\">downside correction<\/a>. BTC remained well-bid and recently started a fresh increase above $27,400.<\/p>\n<p>There was a move above the 23.6% Fib retracement level of the downside correction from the $28,565 swing high to the $27,188 low. Besides, the price surpassed the $27,650 resistance and the 100 hourly Simple moving average.<\/p>\n<p>However, the bears were active near the $27,850 resistance. BTC struggled near the 50% Fib retracement level of the downside correction from the $28,565 swing high to the $27,188 low.<\/p>\n<p>Bitcoin is now trading above $27,500 and the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-sees-correction-27250\/\">100 hourly Simple moving average<\/a>. Immediate resistance on the upside is near the $27,850 level. There is also a key rising channel forming with resistance near $27,850 on the hourly chart of the BTC\/USD pair.<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/10\/Bitcoin-3.png?resize=1024%2C468\"><\/a><\/p>\n<p>Source: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\">BTCUSD on TradingView.com<\/a><\/p>\n<p>The next key resistance could be near the $28,000 level. A close above the $28,000 resistance could start another increase. In the stated case, the price could climb toward the $28,500 resistance. Any more gains might call for a move toward the $29,200 level.<\/p>\n<h2>Another Decline In BTC?<\/h2>\n<p>If Bitcoin fails to continue higher above the $27,850 resistance, there could be another decline. Immediate support on the downside is near the $27,500 level and the 100 hourly Simple moving average.<\/p>\n<p>The next major support is near the $27,400 level. The main support is now near $27,200. A downside break and close below the $27,200 level might send the price toward $26,800 in the near term. The next support sits at $26,200.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now losing pace in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $27,500, followed by $27,200.<\/p>\n<p>Major Resistance Levels \u2013 $27,850, $28,000, and $28,500.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price found support near the $27,200 zone. BTC is now rising and might accelerate higher if it clears the $27,850 resistance zone. Bitcoin is attempting a fresh increase from the $27,200 support. The price is trading above $27,500 and the 100 hourly Simple moving average. There is a key rising channel forming with resistance [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":168611,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-168610","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/168610","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=168610"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/168610\/revisions"}],"predecessor-version":[{"id":168612,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/168610\/revisions\/168612"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/168611"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=168610"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=168610"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=168610"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}