Bitcoin news

Bitcoin's price could rise to over $ 30.600 in the next few days

Il Bitcoin started a new rise from the $ 28.500 support zone and it could move up again at a good pace if there is a clear move above the $ 30.600 resistance zone.

Bitcoin has in fact technically formed a double bottom pattern close to $ 28.500 and has risen above that threshold, ending up trading above the $ 30.000 level and the 100-hour simple moving average. A bullish trend line with support near $ 29.800 is forming on the hourly chart of the BTC / USD pair. The pair could gain bullish momentum if a clear move above $ 30.600 occurs.

Given the above, Bitcoin's price remained well above the $ 28.500 support zone in the last few hours, with a technical pattern that could suggest a new rise. There was then a clear move above the $ 29.500 resistance zone and the 100-hour simple moving average, with the price of BTC climbing above the $ 30.000 resistance zone. However, the bears are still active near the $ 30.600 resistance zone and could exert further bearish momentum.

The price has in fact reached $ 30.500 e it is currently correcting downward. Here, however, a key bullish trend line is forming with support near $ 29.800 on the hourly chart of the BTC / USD pair. The pair is now trading above the $ 30.000 level and the 100-hour simple moving average and immediate resistance is near the $ 30.450 level. The next major resistance is near the $ 30.600 level.

Now, only a clear move above the $ 30.450 and $ 30.600 resistance levels could trigger a strong rally in the near term. The next key resistance could be near the $ 31.500 level, beyond which the price could rise to $ 32.500.

Conversely, if Bitcoin fails to break out of the $ 30.600 resistance zone, a new decline could begin. Immediate bearish support is found near the $ 30.000 level. The first major support is near the $ 29.850 level and the trend line.

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Roberto Rais

A great cryptocurrency expert and a long time collaborator. He actively follows several specialized Blogs in the cryptocurrency sector as Editors

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