{"id":181957,"date":"2023-10-27T08:50:52","date_gmt":"2023-10-27T03:20:52","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=181957"},"modified":"2023-10-27T08:50:52","modified_gmt":"2023-10-27T03:20:52","slug":"bitcoin-price-holds-100-sma-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-price-holds-100-sma-crypto-news\/","title":{"rendered":"Bitcoin Price Holds 100 SMA &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><em>Bitcoin price is still above the $33,200 support zone. BTC could start a fresh increase unless there is a close below the 100 hourly SMA and $33,400.<\/em><\/p>\n<ul>\n<li>Bitcoin is still struggling to clear the $35,000 resistance.<\/li>\n<li>The price is trading above $33,500 and the 100 hourly Simple moving average.<\/li>\n<li>There is a connecting bearish trend line forming with resistance near $34,120 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could start a fresh increase if it clears the trend line and then $34,555.<\/li>\n<\/ul>\n<h2>Bitcoin Price Holds Key Support<\/h2>\n<p>Bitcoin price failed to gain strength for a close above the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-targets-fresh-highs-35k\/\">$35,000 resistance zone<\/a>. BTC started a fresh decline below the $34,500 level. There was a move below the $34,000 zone as well before the bulls appeared.<\/p>\n<p>A low is formed near $33,717 and the price is still well above the 100 hourly Simple moving average. It is slowly moving higher above the $34,000 level. There was a break above the 23.6% Fib retracement level of the downward move from the $35,140 swing high to the $33,717 low.<\/p>\n<p>Bitcoin is now trading above $33,650 and the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-bulls-take-back-seat-35k\/\">100 hourly Simple moving average<\/a>. On the upside, immediate resistance is near the $34,100 level. There is also a connecting bearish trend line forming with resistance near $34,120 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>The next key resistance could be near $34,550 or the 61.8% Fib retracement level of the downward move from the $35,140 swing high to the $33,717 low. The main resistance is still near the $35,000 zone.<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/10\/Bitcoin-20.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 clear move above the $35,000 resistance might start another surge. The next key resistance could be $36,500. Any more gains might send BTC toward the $38,000 level in the coming days.<\/p>\n<h2>Another Decline In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $34,550 resistance zone, it could start another decline. Immediate support on the downside is near the $33,700 level.<\/p>\n<p>The next major support is near the $33,400 level and the 100 hourly Simple moving average. If there is a move below the 100 hourly Simple moving average, there is a risk of more downsides. In the stated case, the price could 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 losing pace in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $33,700, followed by $33,400.<\/p>\n<p>Major Resistance Levels \u2013 $34,120, $34,550, and $35,000.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is still above the $33,200 support zone. BTC could start a fresh increase unless there is a close below the 100 hourly SMA and $33,400. Bitcoin is still struggling to clear the $35,000 resistance. The price is trading above $33,500 and the 100 hourly Simple moving average. There is a connecting bearish trend [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":181958,"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-181957","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\/181957","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=181957"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/181957\/revisions"}],"predecessor-version":[{"id":181959,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/181957\/revisions\/181959"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/181958"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=181957"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=181957"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=181957"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}