{"id":175583,"date":"2023-10-17T09:09:24","date_gmt":"2023-10-17T03:39:24","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=175583"},"modified":"2023-10-17T09:09:24","modified_gmt":"2023-10-17T03:39:24","slug":"bitcoin-price-key-indicators-suggest-fresh-rally-toward-30k-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-price-key-indicators-suggest-fresh-rally-toward-30k-crypto-news\/","title":{"rendered":"Bitcoin Price Key Indicators Suggest Fresh Rally Toward $30K &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><em>Bitcoin price spiked toward $30,000 after fake news about spot ETF hit the market. BTC is now consolidating above $28,200 and could rise toward $29,200.<\/em><\/p>\n<ul>\n<li>Bitcoin is holding gains above the $28,000 and $28,200 levels.<\/li>\n<li>The price is trading above $28,200 and the 100 hourly Simple moving average.<\/li>\n<li>There is a key bullish trend line forming with support near $28,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could start a fresh increase if there is a clear move above the $28,800 resistance.<\/li>\n<\/ul>\n<h2>Bitcoin Price Aims Higher<\/h2>\n<p>Bitcoin price started a strong increase above the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-correction-27500-2\/\">$27,500 resistance zone<\/a>. BTC saw a wild increase after fake news about the spot ETF approval hit the market.<\/p>\n<p>There was a nasty increase above the $28,500 resistance. The price even spiked toward $30,000 before trimming gains. There was a drop below the $29,200 and $28,800 support levels. The price even declined below the 50% Fib retracement level of the upward move from the $26,820 swing low to the $30,000 high.<\/p>\n<p>Bitcoin price is now trading above $28,200 and the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-holds-ground-26500\/\">100 hourly Simple moving average<\/a>. There is also a key bullish trend line forming with support near $28,000 on the hourly chart of the BTC\/USD pair. The trend line is near the 61.8% Fib retracement level of the upward move from the $26,820 swing low to the $30,000 high.<\/p>\n<p>On the upside, immediate resistance is near the $28,600 level. The next key resistance could be near $28,800. A clear move above the $28,600 and $28,800 resistance levels could set the pace for a larger increase. The next key resistance could be $29,200.<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/10\/Bitcoin-11.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>A close above the $29,200 resistance might start a steady increase toward the $29,500 level. Any more gains might send BTC toward the $30,000 level.<\/p>\n<h2>Another Decline In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $28,800 resistance zone, it could slide further. Immediate support on the downside is near the $28,000 level and the trend line zone.<\/p>\n<p>The next major support is near the $27,800 level. A downside break and close below the $27,800 support might send the price further lower. The next support sits at $27,200 and the 100 hourly Simple moving average.<\/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 $28,000, followed by $27,800.<\/p>\n<p>Major Resistance Levels \u2013 $28,600, $28,800, and $29,200.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price spiked toward $30,000 after fake news about spot ETF hit the market. BTC is now consolidating above $28,200 and could rise toward $29,200. Bitcoin is holding gains above the $28,000 and $28,200 levels. The price is trading above $28,200 and the 100 hourly Simple moving average. There is a key bullish trend line [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":164968,"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-175583","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\/175583","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=175583"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/175583\/revisions"}],"predecessor-version":[{"id":175584,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/175583\/revisions\/175584"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/164968"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=175583"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=175583"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=175583"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}