{"id":26526,"date":"2023-08-07T09:13:51","date_gmt":"2023-08-07T09:13:51","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2023\/08\/07\/bitcoin-price-relatively-muted-risk-of-more-downsides-still-exist\/"},"modified":"2023-08-07T09:13:51","modified_gmt":"2023-08-07T09:13:51","slug":"bitcoin-price-relatively-muted-risk-of-more-downsides-still-exist","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2023\/08\/07\/bitcoin-price-relatively-muted-risk-of-more-downsides-still-exist\/","title":{"rendered":"Bitcoin Price Relatively Muted, Risk of More Downsides Still Exist"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p><em>Bitcoin value is struggling to climb above $29,500. BTC stays in danger of extra downsides if there&#8217;s a shut beneath the $28,800 assist.<\/em><\/p>\n<ul>\n<li>Bitcoin remains to be struggling to achieve tempo above the $29,500 pivot degree.<\/li>\n<li>The value is buying and selling beneath $29,200 and the 100 hourly Simple transferring common.<\/li>\n<li>There is a key bearish pattern line forming with resistance close to $29,100 on the hourly chart of the BTC\/USD pair (knowledge feed from Kraken).<\/li>\n<li>The pair might try a contemporary improve towards the $29,500 resistance zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Stuck In Tiny Range<\/h2>\n<p>Bitcoin value struggled to clear the <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-stuck-in-range-but-heres-why-bulls-are-safe\/\" target=\"_blank\" rel=\"noopener\">$29,500 resistance zone<\/a>. BTC began a contemporary decline inside the vary and traded beneath the $29,250 degree.<\/p>\n<p>There was a detailed beneath $29,250 and the 100 hourly Simple transferring common. However, the bulls protected the vary assist at $28,800. The value traded as little as $28,800 and just lately began a short-term upside correction.<\/p>\n<p>There was a transfer above the 23.6% Fib retracement degree of the downward transfer from the $29,395 swing excessive to the $28,800 low. However, the bears had been lively close to the $29,200 resistance zone. There can also be a key bearish pattern line forming with resistance close to $29,100 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>Bitcoin value is buying and selling beneath $29,200 and the <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-recovers-30k\/\" target=\"_blank\" rel=\"noopener\">100 hourly Simple moving average<\/a>. Immediate resistance is close to the $29,100 zone, the pattern line, and the 100 hourly Simple transferring common. It is near the 50% Fib retracement degree of the downward transfer from the $29,395 swing excessive to the $28,800 low.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-545999\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/08\/Bitcoin-1.png?resize=1024%2C465\" alt=\"Bitcoin Price\" width=\"1024\" height=\"465\" srcset=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/08\/Bitcoin-1.png?resize=1024%2C465?w=1950 1950w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/08\/Bitcoin-1.png?resize=1024%2C465?w=460 460w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/08\/Bitcoin-1.png?resize=1024%2C465?w=768 768w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/08\/Bitcoin-1.png?resize=1024%2C465?w=860 860w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/08\/Bitcoin-1.png?resize=1024%2C465?w=1536 1536w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/08\/Bitcoin-1.png?resize=1024%2C465?w=750 750w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/08\/Bitcoin-1.png?resize=1024%2C465?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" data-recalc-dims=\"1\"\/><\/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 first main resistance is close to the $29,400 degree. The subsequent main resistance is close to the $29,500 degree, above which the worth would possibly rise towards the $29,750 resistance zone. An in depth above the $29,750 resistance zone might begin an honest improve. In the acknowledged case, the worth might even surpass the $30,000 resistance.<\/p>\n<h2>More Losses In BTC?<\/h2>\n<p>If Bitcoin fails to clear the $29,100 resistance, it might begin a contemporary decline. Immediate assist on the draw back is close to the $29,000 degree.<\/p>\n<p>The subsequent main assist is close to the $28,800 degree, beneath which the worth might speed up decrease. The subsequent assist is close to the $28,400 degree. Any extra losses would possibly name for a transfer towards the $28,000 degree within the close to time period.<\/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 now beneath the 50 degree.<\/p>\n<p>Major Support Levels \u2013 $29,000, adopted by $28,800.<\/p>\n<p>Major Resistance Levels \u2013 $29,100, $29,400, and $29,500.<\/p>\n<\/p><\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-muted-29k\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Bitcoin value is struggling to climb above $29,500. BTC stays in danger of extra downsides if there&#8217;s a shut beneath the $28,800 assist. Bitcoin remains to be struggling to achieve tempo above the $29,500 pivot degree. The value is buying and selling beneath $29,200 and the 100 hourly Simple transferring common. There is a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":26528,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"on","ocean_gallery_id":[],"footnotes":""},"categories":[4],"tags":[20,4872,1481,2836,110,70],"class_list":["post-26526","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market","tag-bitcoin","tag-downsides","tag-exist","tag-muted","tag-price","tag-risk","entry","has-media","owp-thumbs-layout-horizontal","owp-btn-normal","owp-tabs-layout-horizontal","has-no-thumbnails","has-product-nav"],"_links":{"self":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/26526","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/comments?post=26526"}],"version-history":[{"count":1,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/26526\/revisions"}],"predecessor-version":[{"id":26527,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/26526\/revisions\/26527"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/media\/26528"}],"wp:attachment":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/media?parent=26526"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/categories?post=26526"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/tags?post=26526"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}