{"id":179873,"date":"2023-10-24T09:45:14","date_gmt":"2023-10-24T04:15:14","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=179873"},"modified":"2023-10-24T09:45:14","modified_gmt":"2023-10-24T04:15:14","slug":"bitcoin-price-rally-to-35000-could-be-the-start-the-bulls-needed-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-price-rally-to-35000-could-be-the-start-the-bulls-needed-crypto-news\/","title":{"rendered":"Bitcoin Price Rally To $35,000 Could Be The Start The Bulls Needed &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><em>Bitcoin price is up over 15% and trading near the $35,000 resistance. BTC could correct in the short term before it starts another increase.<\/em><\/p>\n<ul>\n<li>Bitcoin started a strong increase after there was speculation of spot ETF being listed DTCC.<\/li>\n<li>The price is trading above $34,000 and the 100 hourly Simple moving average.<\/li>\n<li>There is a connecting bullish trend line forming with support near $32,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could correct in the short term before it resumes its increase.<\/li>\n<\/ul>\n<h2>Bitcoin Price Jumps Over 15%<\/h2>\n<p>Bitcoin price started a strong increase after there was speculation of spot ETF being listed DTCC. BTC gained bullish momentum after it broke the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-hold-strong-at-30k\/\">$32,000 resistance zone<\/a>.<\/p>\n<p>There was a decent increase toward the $35,000 resistance zone. A new multi-week high is formed near $35,225 and the price is now consolidating gains. It is trading well above the 23.6% Fib retracement level of the upward move from the $30,400 swing low to the $35,225 high.<\/p>\n<p>Bitcoin is now trading above $34,000 and the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-hesitates-30k\/\">100 hourly Simple moving average<\/a>. There is also a connecting bullish trend line forming with support near $32,500 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 $30,400 swing low to the $35,225 high.<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/10\/Bitcoin-16.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 $34,800 level. The next key resistance could be near $35,250. A clear move above the recent high might send the price toward the $36,200 resistance. The next key resistance could be $37,000. Any more gains might send BTC toward the $38,000 level in the coming days.<\/p>\n<h2>Downsides Supported In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $34,800 resistance zone, it could start a downside correction. Immediate support on the downside is near the $34,120 level.<\/p>\n<p>The next major support is near the $32,800 level and the trend line. If there is a move below the trend line support, the price may perhaps decline toward the $31,500 level in the coming sessions.<\/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 $34,120, followed by $32,800.<\/p>\n<p>Major Resistance Levels \u2013 $34,800, $35,000, and $35,250.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is up over 15% and trading near the $35,000 resistance. BTC could correct in the short term before it starts another increase. Bitcoin started a strong increase after there was speculation of spot ETF being listed DTCC. The price is trading above $34,000 and the 100 hourly Simple moving average. There is a [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":159141,"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-179873","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\/179873","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=179873"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/179873\/revisions"}],"predecessor-version":[{"id":179874,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/179873\/revisions\/179874"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/159141"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=179873"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=179873"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=179873"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}