NewsBTC
2023-01-11 03:04:42

Bitcoin Price Resumes Increase as Crypto Bulls Aim More Upsides

Bitcoin price extended its increase and traded towards $17,500. BTC is consolidating gains and might aim a move towards the $18,000 resistance. Bitcoin extended its rise above the $17,200 and $17,250 resistance levels. The price is trading above $17,200 and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $17,350 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move up towards the $18,000 resistance zone. Bitcoin Price Gains Momentum Bitcoin price settled above the key $17,000 pivot zone, opening the doors for more gains. BTC climbed further higher and was able to clear the $17,250 resistance zone. The price even broke the $17,400 resistance zone and tested the next barrier at $17,500. A high is formed near the $17,500 level the price is now consolidating gains. It is now testing the 23.6% Fib retracement level of the upward move from the $17,136 swing low to $17,500 high. Bitcoin price is also trading above $17,200 and the 100 hourly simple moving average. Besides, there is a major bullish trend line forming with support near $17,350 on the hourly chart of the BTC/USD pair. Source: BTCUSD on TradingView.com On the upside, an immediate resistance is near the $17,500 level. The next major resistance is near the $18,000 zone, above which the price might accelerate higher. In the stated case, the price may perhaps rise towards the $18,500 level. Any more gains might send btc price towards the $19,200 level. Dips Limited in BTC? If bitcoin price fails to clear the $17,500 resistance, it could start a downside correction. An immediate support on the downside is near the $17,350 level and the trend line. The next major support is near the $17,270 level. It is near the 61.8% Fib retracement level of the upward move from the $17,136 swing low to $17,500 high. The main support is now forming near the $17,130 level, below which the price might retest $16,800. Technical indicators: Hourly MACD – The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $17,350, followed by $17,130. Major Resistance Levels – $17,500, $17,800 and $18,000.

获取加密通讯
阅读免责声明 : 此处提供的所有内容我们的网站,超链接网站,相关应用程序,论坛,博客,社交媒体帐户和其他平台(“网站”)仅供您提供一般信息,从第三方采购。 我们不对与我们的内容有任何形式的保证,包括但不限于准确性和更新性。 我们提供的内容中没有任何内容构成财务建议,法律建议或任何其他形式的建议,以满足您对任何目的的特定依赖。 任何使用或依赖我们的内容完全由您自行承担风险和自由裁量权。 在依赖它们之前,您应该进行自己的研究,审查,分析和验证我们的内容。 交易是一项高风险的活动,可能导致重大损失,因此请在做出任何决定之前咨询您的财务顾问。 我们网站上的任何内容均不构成招揽或要约