{"id":170664,"date":"2023-10-09T09:03:44","date_gmt":"2023-10-09T03:33:44","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=170664"},"modified":"2023-10-09T09:03:44","modified_gmt":"2023-10-09T03:33:44","slug":"bitcoin-price-could-restart-increase-but-can-bulls-send-btc-to-30k-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-price-could-restart-increase-but-can-bulls-send-btc-to-30k-crypto-news\/","title":{"rendered":"Bitcoin Price Could Restart Increase But Can Bulls Send BTC To $30K? &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><em>Bitcoin price is eyeing a fresh increase toward the $28,500 resistance. BTC could start a strong increase if it clears the $28,500 resistance zone.<\/em><\/p>\n<ul>\n<li>Bitcoin is holding gains and showing positive signs above the $27,450 zone.<\/li>\n<li>The price is trading above $27,800 and the 100 hourly Simple moving average.<\/li>\n<li>There is a short-term declining channel forming with resistance near $27,980 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could soon revisit the $28,500 resistance zone in the near term.<\/li>\n<\/ul>\n<h2>Bitcoin Price Aims Higher<\/h2>\n<p>Bitcoin price started a downside correction after it failed to clear the $28,500 resistance zone. BTC declined below the $28,000 level and tested the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-fresh-drop-27200\/\">$27,200 support zone<\/a>.<\/p>\n<p>The recent low was formed near $27,185 and the price is again rising. There was a move above the $27,400 and $27,500 resistance levels. A high is formed near $28,284 and the price is now consolidating gains below the 23.6% Fib retracement level of the recent increase from the $27,185 swing low to the $28,284 high.<\/p>\n<p>Bitcoin is now trading above $27,800 and the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-restart-increase-28000\/\">100 hourly Simple moving average<\/a>. The price is now testing the $28,000 resistance zone. There is also a short-term declining channel forming with resistance near $27,980 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-5.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>Immediate resistance on the upside is near the $28,000 level. The next key resistance could be near the $28,500 level. A close above the $28,500 resistance could start another increase. In the stated case, the price could rise toward the $29,200 resistance. Any more gains might call for a move toward the $30,000 level.<\/p>\n<h2>Another Rejection In BTC?<\/h2>\n<p>If Bitcoin fails to continue higher above the $28,000 resistance, there could be a fresh decline. Immediate support on the downside is near the $27,800 level and the 100 hourly Simple moving average.<\/p>\n<p>The next major support is near the $27,4500 level. The main support is now forming near the $27,200 level. A downside break and close below the $27,200 level might push the price further lower toward $26,650 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 gaining 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 $27,800, followed by $27,200.<\/p>\n<p>Major Resistance Levels \u2013 $28,000, $28,500, and $29,200.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is eyeing a fresh increase toward the $28,500 resistance. BTC could start a strong increase if it clears the $28,500 resistance zone. Bitcoin is holding gains and showing positive signs above the $27,450 zone. The price is trading above $27,800 and the 100 hourly Simple moving average. There is a short-term declining channel [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":170665,"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-170664","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\/170664","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=170664"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/170664\/revisions"}],"predecessor-version":[{"id":170666,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/170664\/revisions\/170666"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/170665"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=170664"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=170664"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=170664"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}