{"id":31108,"date":"2023-10-27T04:10:58","date_gmt":"2023-10-27T04:10:58","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2023\/10\/27\/bitcoin-price-holds-100-sma\/"},"modified":"2023-10-27T04:10:58","modified_gmt":"2023-10-27T04:10:58","slug":"bitcoin-price-holds-100-sma","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2023\/10\/27\/bitcoin-price-holds-100-sma\/","title":{"rendered":"Bitcoin Price Holds 100 SMA"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p><em>Bitcoin worth continues to be above the $33,200 assist zone. BTC may begin a contemporary improve until there&#8217;s a shut under the 100 hourly SMA and $33,400.<\/em><\/p>\n<ul>\n<li>Bitcoin continues to be struggling to clear the $35,000 resistance.<\/li>\n<li>The worth is buying and selling above $33,500 and the 100 hourly Simple transferring common.<\/li>\n<li>There is a connecting bearish pattern line forming with resistance close to $34,120 on the hourly chart of the BTC\/USD pair (knowledge feed from Kraken).<\/li>\n<li>The pair may begin a contemporary improve if it clears the pattern line after which $34,555.<\/li>\n<\/ul>\n<h2>Bitcoin Price Holds Key Support<\/h2>\n<p>Bitcoin worth failed to achieve energy for a detailed above the <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-targets-fresh-highs-35k\/\" target=\"_blank\" rel=\"noopener\">$35,000 resistance zone<\/a>. BTC began a contemporary decline under the $34,500 stage. There was a transfer under the $34,000 zone as properly earlier than the bulls appeared.<\/p>\n<p>A low is fashioned close to $33,717 and the worth continues to be properly above the 100 hourly Simple transferring common. It is slowly transferring greater above the $34,000 stage. There was a break above the 23.6% Fib retracement stage of the downward transfer from the $35,140 swing excessive to the $33,717 low.<\/p>\n<p>Bitcoin is now buying and selling above $33,650 and the <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-bulls-take-back-seat-35k\/\" target=\"_blank\" rel=\"noopener\">100 hourly Simple moving average<\/a>. On the upside, speedy resistance is close to the $34,100 stage. There can also be a connecting bearish pattern line forming with resistance close to $34,120 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>The subsequent key resistance may very well be close to $34,550 or the 61.8% Fib retracement stage of the downward transfer from the $35,140 swing excessive to the $33,717 low. The major resistance continues to be close to the $35,000 zone.<\/p>\n<p><a href=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/10\/Bitcoin-20.png?resize=1024%2C468\"><img decoding=\"async\" class=\"alignnone size-full wp-image-557771\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/10\/Bitcoin-20.png?resize=1024%2C468\" alt=\"Bitcoin Price\" width=\"1024\" height=\"468\" srcset=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/10\/Bitcoin-20.png?resize=1024%2C468?w=1835 1835w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/10\/Bitcoin-20.png?resize=1024%2C468?w=460 460w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/10\/Bitcoin-20.png?resize=1024%2C468?w=768 768w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/10\/Bitcoin-20.png?resize=1024%2C468?w=860 860w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/10\/Bitcoin-20.png?resize=1024%2C468?w=1536 1536w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/10\/Bitcoin-20.png?resize=1024%2C468?w=750 750w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/10\/Bitcoin-20.png?resize=1024%2C468?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" loading=\"lazy\" data-recalc-dims=\"1\"\/><\/a><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener\">BTCUSD on TradingView.com<\/a><\/p>\n<p>A transparent transfer above the $35,000 resistance would possibly begin one other surge. The subsequent key resistance may very well be $36,500. Any extra positive factors would possibly ship BTC towards the $38,000 stage within the coming days.<\/p>\n<h2>Another Decline In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $34,550 resistance zone, it may begin one other decline. Immediate assist on the draw back is close to the $33,700 stage.<\/p>\n<p>The subsequent main assist is close to the $33,400 stage and the 100 hourly Simple transferring common. If there&#8217;s a transfer under the 100 hourly Simple transferring common, there&#8217;s a threat of extra downsides. In the acknowledged case, the worth may decline towards the $31,500 stage within the coming classes.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now dropping tempo within the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now under the 50 stage.<\/p>\n<p>Major Support Levels \u2013 $33,700, adopted by $33,400.<\/p>\n<p>Major Resistance Levels \u2013 $34,120, $34,550, and $35,000.<\/p>\n<\/p><\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-holds-100-sma-33400\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Bitcoin worth continues to be above the $33,200 assist zone. BTC may begin a contemporary improve until there&#8217;s a shut under the 100 hourly SMA and $33,400. Bitcoin continues to be struggling to clear the $35,000 resistance. The worth is buying and selling above $33,500 and the 100 hourly Simple transferring common. There is 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