{"id":179209,"date":"2023-10-23T09:30:42","date_gmt":"2023-10-23T04:00:42","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=179209"},"modified":"2023-10-23T09:30:42","modified_gmt":"2023-10-23T04:00:42","slug":"indicators-point-more-upsides-to-31-2k-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/indicators-point-more-upsides-to-31-2k-crypto-news\/","title":{"rendered":"Indicators Point More Upsides To $31.2K &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><em>Bitcoin price is gaining pace above the $30,000 resistance. BTC is showing positive signs and might rally further above toward the $31,200 level.<\/em><\/p>\n<ul>\n<li>Bitcoin started a fresh increase above the $28,500 and $28,800 resistance levels.<\/li>\n<li>The price is trading above $30,000 and the 100 hourly Simple moving average.<\/li>\n<li>There is a key bullish trend line forming with support near $30,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could continue to rise toward the $31,200 resistance level.<\/li>\n<\/ul>\n<h2>Bitcoin Price Regains Strength<\/h2>\n<p>Bitcoin price formed a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-hesitates-30k\/\">support base above the $27,500 level<\/a>. BTC started a steady increase and cleared a few hurdles near the $28,500 resistance zone.<\/p>\n<p>The bulls gained strength and managed to push the price above the main $30,000 resistance zone. A new multi-week high is formed near $30,600 and the price is now consolidating gains. There was a minor decline below the 23.6% Fib retracement level of the upward move from the $29,715 swing low to the $30,600 high.<\/p>\n<p>Bitcoin is now trading above $30,000 and the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-thrust-28k\/\">100 hourly Simple moving average<\/a>. There is also a key bullish trend line forming with support near $30,000 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 $29,715 swing low to the $30,600 high.<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/10\/Bitcoin-15.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 $30,400 level. The next key resistance could be near $30,600. A clear move above the recent high might send the price toward the $31,200 resistance. The next key resistance could be $32,000. Any more gains might send BTC toward the $33,200 level in the coming sessions.<\/p>\n<h2>Are Dips Limited In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $30,600 resistance zone, it could start a downside correction. Immediate support on the downside is near the $30,150 level.<\/p>\n<p>The next major support is near the $30,000 level and the trend line. If there is a move below the trend line support, the price may perhaps decline toward the $29,500 level or 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 $30,150, followed by $30,000.<\/p>\n<p>Major Resistance Levels \u2013 $30,400, $30,600, and $31,200.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is gaining pace above the $30,000 resistance. BTC is showing positive signs and might rally further above toward the $31,200 level. Bitcoin started a fresh increase above the $28,500 and $28,800 resistance levels. The price is trading above $30,000 and the 100 hourly Simple moving average. There is a key bullish trend line [&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-179209","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\/179209","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=179209"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/179209\/revisions"}],"predecessor-version":[{"id":179210,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/179209\/revisions\/179210"}],"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=179209"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=179209"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=179209"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}