Bitcoin Price Jumps To $17K and Prints Bullish Continuation Signal

2023-1-5 04:35

Bitcoin price climbed higher above the $16,800 resistance. BTC could rise further if it clears the $17,000 and $17,050 levels.

Bitcoin is slowly moving higher above the $16,800 and $16,850 resistance levels. The price is trading above $16,700 and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $16,700 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could rise steadily if there is a close above the $17,000 resistance. Bitcoin Price Climbs Higher

Bitcoin price remained stable above the $16,500 support zone. BTC started a decent increase and was able to clear the $16,800 resistance level.

The price even surged above the $16,850 level and the 100 hourly simple moving average. There was a spike towards the $17,000 level. A high was formed near $16,987 and the price is now correcting gains. There was a minor move below the $16,900 level.

The price spiked below the 50% Fib retracement level of the recent increase from the $16,614 swing low to $16,987 high. Bitcoin price is now trading above $16,700 and the 100 hourly simple moving average.

There is also a major bullish trend line forming with support near $16,700 on the hourly chart of the BTC/USD pair. On the upside, an immediate resistance is near the $16,900 level.

Source: BTCUSD on TradingView.com

The next major resistance is near the $17,000 zone. A proper close above the $17,000 resistance might start a steady increase in the near term. In the stated case, the price may perhaps rise towards the $17,500 level. Any more gains might send the price towards the $18,000 level in the coming sessions.

Dips Limited in BTC?

If bitcoin price fails to climb the $17,000 resistance, it could start a downside correction. An immediate support on the downside is near the $16,750 level.

The 61.8% Fib retracement level of the recent increase from the $16,614 swing low to $16,987 high is also near the $16,750 level. The next major support is near the $16,700 level and the trend line. A clear move below the $16,700 support might send the price towards the $16,500 level. Any more losses might send the price towards $16,350.

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 – $16,750, followed by $16,700.

Major Resistance Levels – $16,900, $17,000 and $17,500.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 66240.54 (-0.22%)
Объем 24H $19.195b
Изменеия 24h: -1.12 %, 7d: 7.97 %
Cегодня L: $66031.14 - H: $66391.13
Капитализация $1304.98b Rank 1
Цена в час новости $ 16801.37 (294.26%)

bitcoin above levels resistance higher price jumps

Источник: newsbtc.com

bitcoin above → Результатов: 126


Bitcoin Floats Above $30,000, but Solana Surges 11%, What’s Next for SOL? Deep Analysis

In the dynamic world of cryptocurrency, Bitcoin continues to be a stable force. Bitcoin has been maintaining a steady course, floating above the $30,000 mark for the past six days. This stability in Bitcoin’s price, amidst the general volatility of the cryptocurrency market, is a noteworthy development and could potentially signal a period of consolidation […] The post Bitcoin Floats Above $30,000, but Solana Surges 11%, What’s Next for SOL? Deep Analysis appeared first on CaptainAltcoin.

2023-6-30 01:54


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru