{"id":177679,"date":"2023-10-20T08:50:56","date_gmt":"2023-10-20T03:20:56","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=177679"},"modified":"2023-10-20T08:50:56","modified_gmt":"2023-10-20T03:20:56","slug":"bitcoin-price-hesitates-but-further-gains-seem-likely-toward-30k-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-price-hesitates-but-further-gains-seem-likely-toward-30k-crypto-news\/","title":{"rendered":"Bitcoin Price Hesitates, But Further Gains Seem Likely Toward $30K &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><em>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.<\/em><\/p>\n<ul>\n<li>Bitcoin found support near $28,150 and started a fresh increase.<\/li>\n<li>The price is trading above $28,500 and the 100 hourly Simple moving average.<\/li>\n<li>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).<\/li>\n<li>The pair could continue to rise if there is a close above the $29,000 resistance.<\/li>\n<\/ul>\n<h2>Bitcoin Price Eyes Upside Break<\/h2>\n<p>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 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-thrust-28k\/\">fresh increase<\/a>.<\/p>\n<p>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.<\/p>\n<p>Bitcoin is now trading above $28,500 and the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-liftoff-30k-2\/\">100 hourly Simple moving average<\/a>. 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.<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/10\/Bitcoin-14.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>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.<\/p>\n<h2>Another Decline In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $29,000 resistance zone, it could start another decline. Immediate support on the downside is near the $28,650 level.<\/p>\n<p>The next major support is near the $28,350 level and the 100 hourly Simple moving average. The main support is now forming near $28,150. A downside break and close below the $28,150 support might trigger more losses in the near term. The next support sits at $27,650, below which it could test $28,120.<\/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 $28,650, followed by $28,150.<\/p>\n<p>Major Resistance Levels \u2013 $28,950, $29,000, and $30,000.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>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 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":177680,"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-177679","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\/177679","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=177679"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/177679\/revisions"}],"predecessor-version":[{"id":177681,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/177679\/revisions\/177681"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/177680"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=177679"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=177679"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=177679"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}