What Are Crucial Levels For Bitcoin Price!
Bitcoin's price began a new upward trend against the US Dollar after breaking through the $32,250 support level. To enter the positive zone, Bitcoin must break over the $35,000 resistance, according to well-known expert Aayush Jindal, who has a track record of making accurate predictions.
Bitcoin's price has begun to rise again, breaking through the $33,500 and $34,000 barrier levels.
The price has moved over the $34,000 support level as well as the 100 hourly simple moving average.
On the hourly chart of the BTC/USD pair, a big bullish trend line is forming with support near $34,000.
As long as the pair continues above $33,500, it could continue to move above the $35,000 resistance.
The price of bitcoin has begun to rise again! This is what occurred...
Bitcoin price built a strong support base above $32,000 and began a new upward trend, as Cryptokoin.com previously reported. The $33,500 resistance zone and the 100 hourly simple moving average were both broken by BTC. It even broke through the $34,000 obstacle to enter the positive territory. Bitcoin's price, on the other hand, is still battling to break through the primary $35,000 resistance zone.
Near $34,600, a high was made, and the price is presently correcting gains. BTC was trading below $34,200. A break below the 23.6 percent Fib retracement level of the upward run from the $32,988 high to the $34,609 high was also seen. On the downside, $34,000 serves as an initial support level.
Here are the possible levels for Bitcoin's price.
On the hourly chart of the BTC/USD pair, a big bullish trend line is forming with support near $34,000. The next level of assistance is around $33,800. This level is near the 50% Fib retracement level of the upward run from $32,988 to $34,609 high. Near the $33,500 zone and the 100 hourly SMA, the main support is currently building. Further losses might push the price back into the red.
Bitcoin's price may continue to grow if it remains firm above the $33,500 support zone. Near the $34,500 mark, there is a sudden obstacle on the upside. Around $35,000 is the first major stumbling block. The price could rally towards the $36,500 resistance if it closes over the $35,000 resistance zone. The next major stumbling block is around $38,000.