{"id":23420,"date":"2023-05-31T02:43:25","date_gmt":"2023-05-31T02:43:25","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2023\/05\/31\/bitcoin-price-nears-next-key-move-100-sma-is-the-key\/"},"modified":"2023-05-31T02:43:25","modified_gmt":"2023-05-31T02:43:25","slug":"bitcoin-price-nears-next-key-move-100-sma-is-the-key","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2023\/05\/31\/bitcoin-price-nears-next-key-move-100-sma-is-the-key\/","title":{"rendered":"Bitcoin Price Nears Next Key Move, 100 SMA Is The Key"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p><em>Bitcoin value is consolidating above the $27,500 assist. BTC might begin a contemporary enhance except there&#8217;s a clear transfer and shut beneath $27,500.<\/em><\/p>\n<ul>\n<li>Bitcoin remains to be holding the important thing $27,500 assist zone.<\/li>\n<li>The value is buying and selling above $27,550 and the 100 hourly Simple shifting common.<\/li>\n<li>There is a key bearish development line forming with resistance close to $27,850 on the hourly chart of the BTC\/USD pair (information feed from Kraken).<\/li>\n<li>The pair might begin a contemporary enhance if there&#8217;s a break above the $28,000 resistance zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Holds Support<\/h2>\n<p>Bitcoin value began a draw back correction after it didn&#8217;t clear the <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-correction-27500\/?swcfpc=1\" target=\"_blank\" rel=\"noopener\">$28,500 resistance zone<\/a>. BTC moved beneath the $28,200 and $28,000 ranges.<\/p>\n<p>There was additionally a drop beneath the $27,800 degree however the bulls have been energetic close to the $27,500 assist. A low is fashioned close to $27,559 and the value is now consolidating. There was already a take a look at of the 50% Fib retracement degree of the latest decline from the $28,045 swing excessive to the $27,559 low.<\/p>\n<p>Bitcoin value is now buying and selling above $27,550 and the <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-bullish-28500-critical\/?swcfpc=1\" target=\"_blank\" rel=\"noopener\">100 hourly Simple moving average<\/a>. There can also be a key bearish development line forming with resistance close to $27,850 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>Immediate resistance on the upside is close to the $27,850 degree and the development line. The subsequent main resistance is close to the $28,000 degree or the 76.4% Fib retracement degree of the latest decline from the $28,045 swing excessive to the $27,559 low.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-535786\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/05\/Bitcoin-22.png\" alt=\"Bitcoin Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/05\/Bitcoin-22.png 1834w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/05\/Bitcoin-22-460x212.png 460w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/05\/Bitcoin-22-860x396.png 860w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/05\/Bitcoin-22-768x354.png 768w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/05\/Bitcoin-22-1536x708.png 1536w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/05\/Bitcoin-22-750x346.png 750w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/05\/Bitcoin-22-1140x525.png 1140w\" sizes=\"auto, (max-width: 1834px) 100vw, 1834px\"\/><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"nofollow noopener\">BTCUSD on TradingView.com<\/a><\/p>\n<p>An upside break and shut above $28,000 might begin a gentle enhance towards $28,500. If the bulls handle to clear the $28,500 resistance zone may ship the value towards the $29,200 resistance zone. The subsequent key resistance is close to $29,500, above which the value may rise towards the $30,000 resistance.<\/p>\n<h2>Downside Break in BTC?<\/h2>\n<p>If Bitcoin\u2019s value fails to clear the $28,000 resistance, it might proceed to maneuver down. Immediate assist on the draw back is close to the $27,550 degree.<\/p>\n<p>The subsequent main assist is close to the $27,500 zone and the 100 hourly SMA, beneath which the value may begin a gentle decline. In the said case, the value might drop towards the $27,000 assist.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining tempo within the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is beneath the 50 degree.<\/p>\n<p>Major Support Levels \u2013 $27,550, adopted by $27,500.<\/p>\n<p>Major Resistance Levels \u2013 $28,000, $28,400, and $28,500.<\/p>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-nears-27500\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Bitcoin value is consolidating above the $27,500 assist. BTC might begin a contemporary enhance except there&#8217;s a clear transfer and shut beneath $27,500. Bitcoin remains to be holding the important thing $27,500 assist zone. The value is buying and selling above $27,550 and the 100 hourly Simple shifting common. There is a key bearish 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