{"id":24811,"date":"2023-06-28T05:19:18","date_gmt":"2023-06-28T05:19:18","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2023\/06\/28\/bitcoin-price-consolidates-below-31k-as-the-bulls-take-back-seat\/"},"modified":"2023-06-28T05:19:18","modified_gmt":"2023-06-28T05:19:18","slug":"bitcoin-price-consolidates-below-31k-as-the-bulls-take-back-seat","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2023\/06\/28\/bitcoin-price-consolidates-below-31k-as-the-bulls-take-back-seat\/","title":{"rendered":"Bitcoin Price Consolidates Below $31K As The Bulls Take Back Seat"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p><em>Bitcoin value remains to be struggling to clear the $31,000 resistance. BTC is buying and selling in a spread and may revisit the $30,000 assist zone.<\/em><\/p>\n<ul>\n<li>Bitcoin is consolidating above the $30,000 assist zone.<\/li>\n<li>The value is buying and selling slightly below $30,500 and the 100 hourly Simple shifting common.<\/li>\n<li>There was a break above a serious bearish pattern line with resistance close to $30,300 on the hourly chart of the BTC\/USD pair (knowledge feed from Kraken).<\/li>\n<li>The pair may appropriate decrease towards the $30,000 assist and even $29,550.<\/li>\n<\/ul>\n<h2>Bitcoin Price Faces Resistance<\/h2>\n<p>Bitcoin value <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-aims-higher-30500\/?swcfpc=1\" target=\"_blank\" rel=\"noopener\">remained supported near the $30,000 zone<\/a>. BTC traded as little as $29,914 and just lately began a recent enhance. There was a transfer above the $30,200 and $30,250 ranges.<\/p>\n<p>The value cleared the 50% Fib retracement stage of the downward transfer from the $31,436 swing excessive to the $29,914 low. Besides, there was a break above a serious bearish pattern line with resistance close to $30,300 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>However, the bears appear to be lively close to the $31,000 resistance zone. Bitcoin struggled to clear the 76.4% Fib retracement stage of the downward transfer from the $31,436 swing excessive to the $29,914 low.<\/p>\n<p>The value is now buying and selling slightly below $30,500 and the <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-correction-29200\/?swcfpc=1\" target=\"_blank\" rel=\"noopener\">100 hourly Simple moving average<\/a>. Immediate resistance is close to the $30,680 stage. The first main resistance is close to the $30,950 stage, above which the value may revisit the $31,400 resistance zone.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-540044\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/06\/Bitcoin-19.png\" alt=\"Bitcoin Price\" width=\"1835\" height=\"845\" srcset=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/06\/Bitcoin-19.png 1835w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/06\/Bitcoin-19-460x212.png 460w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/06\/Bitcoin-19-860x396.png 860w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/06\/Bitcoin-19-768x354.png 768w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/06\/Bitcoin-19-1536x707.png 1536w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/06\/Bitcoin-19-750x345.png 750w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/06\/Bitcoin-19-1140x525.png 1140w\" sizes=\"auto, (max-width: 1835px) 100vw, 1835px\"\/><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener\">BTCUSD on TradingView.com<\/a><\/p>\n<p>The subsequent main resistance is close to the $32,000 stage. An upside break above the $32,000 resistance may ship BTC towards $32,500. Any extra positive aspects may open the doorways for a transfer towards the $33,200 resistance zone.<\/p>\n<h2>More Losses in BTC?<\/h2>\n<p>If Bitcoin\u2019s value fails to clear the $30,950 resistance, it may proceed to maneuver down. Immediate assist on the draw back is close to the $30,250 stage or the damaged pattern line zone.<\/p>\n<p>The subsequent main assist is close to the $30,000 stage, beneath which there may very well be a drop towards the $29,550 assist. Any extra losses may ship the value towards the $28,750 assist area within the close to time period.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now shedding tempo within the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is beneath the 50 stage.<\/p>\n<p>Major Support Levels \u2013 $30,000, adopted by $29,550.<\/p>\n<p>Major Resistance Levels \u2013 $30,680, $30,950, and $31,400.<\/p>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-consolidates-below-31k\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Bitcoin value remains to be struggling to clear the $31,000 resistance. BTC is buying and selling in a spread and may revisit the $30,000 assist zone. Bitcoin is consolidating above the $30,000 assist zone. The value is buying and selling slightly below $30,500 and the 100 hourly Simple shifting common. There was a break 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