{"id":31593,"date":"2023-11-03T03:42:43","date_gmt":"2023-11-03T03:42:43","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2023\/11\/03\/bitcoin-price-reaches-key-juncture-is-this-bulls-trap-or-technical-correction\/"},"modified":"2023-11-03T03:42:43","modified_gmt":"2023-11-03T03:42:43","slug":"bitcoin-price-reaches-key-juncture-is-this-bulls-trap-or-technical-correction","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2023\/11\/03\/bitcoin-price-reaches-key-juncture-is-this-bulls-trap-or-technical-correction\/","title":{"rendered":"Bitcoin Price Reaches Key Juncture, Is This Bulls Trap or Technical Correction?"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p><em>Bitcoin worth didn&#8217;t proceed increased above $36,000. BTC corrected positive aspects and may discover sturdy shopping for curiosity close to the $34,200 help zone.<\/em><\/p>\n<ul>\n<li>Bitcoin corrected positive aspects from the $36,000 resistance zone.<\/li>\n<li>The worth is buying and selling close to $34,700 and the 100 hourly Simple transferring common.<\/li>\n<li>There is a serious bullish pattern line forming with help close to $34,300 on the hourly chart of the BTC\/USD pair (information feed from Kraken).<\/li>\n<li>The pair should keep above the $34,000 help to begin a contemporary improve within the close to time period.<\/li>\n<\/ul>\n<h2>Bitcoin Price Holds Support<\/h2>\n<p>Bitcoin worth tried <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-resumes-rally-37k\/\" target=\"_blank\" rel=\"noopener\">another rally above the $35,000 resistance<\/a>. BTC cleared the $35,500 degree however struggled close to the $36,000 degree. There was no check of the $36,200 resistance zone and the value began a draw back correction.<\/p>\n<p>There was a transfer under the $35,500 and $35,000 ranges. The worth even spiked under the $34,500 degree and the 100 hourly Simple transferring common. A low is fashioned close to $34,350 and the value is now consolidating losses close to the 23.6% Fib retracement degree of the latest decline from the $35,945 swing excessive to the $34,350 low.<\/p>\n<p>Bitcoin additionally trades close to $34,700 and the <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-vulnerable-35k\/\" target=\"_blank\" rel=\"noopener\">100 hourly Simple moving average<\/a>. Besides, there&#8217;s a main bullish pattern line forming with help close to $34,300 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>On the upside, quick resistance is close to the $35,750 degree. The subsequent key resistance might be close to $35,150 or the 50% Fib retracement degree of the latest decline from the $35,945 swing excessive to the $34,350 low. A transparent transfer above the $35,150 resistance may open the doorways for a transfer towards the $36,000 resistance.<\/p>\n<p><a href=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/11\/Bitcoin-2.png?resize=1024%2C468\"><img decoding=\"async\" class=\"alignnone size-full wp-image-558916\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/11\/Bitcoin-2.png?resize=1024%2C468\" alt=\"Bitcoin Price \" width=\"1024\" height=\"468\" srcset=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/11\/Bitcoin-2.png?resize=1024%2C468?w=1835 1835w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/11\/Bitcoin-2.png?resize=1024%2C468?w=460 460w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/11\/Bitcoin-2.png?resize=1024%2C468?w=768 768w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/11\/Bitcoin-2.png?resize=1024%2C468?w=860 860w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/11\/Bitcoin-2.png?resize=1024%2C468?w=1536 1536w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/11\/Bitcoin-2.png?resize=1024%2C468?w=750 750w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/11\/Bitcoin-2.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>The subsequent key resistance might be $36,200, above which the value may rise towards $37,000. Any extra positive aspects may ship BTC towards the $37,500 degree.<\/p>\n<h2>More Losses In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $35,150 resistance zone, it may proceed to maneuver down. Immediate help on the draw back is close to the $34,350 low and the pattern line.<\/p>\n<p>The subsequent main help is close to the $35,000 zone. If there&#8217;s a transfer under $34,000, there&#8217;s a threat of extra downsides. In the acknowledged case, the value may drop towards the $33,200 degree 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 bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now under the 50 degree.<\/p>\n<p>Major Support Levels \u2013 $34,300, adopted by $34,000.<\/p>\n<p>Major Resistance Levels \u2013 $34,750, $35,150, and $36,000.<\/p>\n<\/p><\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-key-juncture-34k\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Bitcoin worth didn&#8217;t proceed increased above $36,000. BTC corrected positive aspects and may discover sturdy shopping for curiosity close to the $34,200 help zone. Bitcoin corrected positive aspects from the $36,000 resistance zone. The worth is buying and selling close to $34,700 and the 100 hourly Simple transferring common. There is a serious bullish [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2750,"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":[20,640,1052,1715,336,110,1714,977,1839],"class_list":["post-31593","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market","tag-bitcoin","tag-bulls","tag-correction","tag-juncture","tag-key","tag-price","tag-reaches","tag-technical","tag-trap","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\/31593","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=31593"}],"version-history":[{"count":1,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/31593\/revisions"}],"predecessor-version":[{"id":31594,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/31593\/revisions\/31594"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/media\/2750"}],"wp:attachment":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/media?parent=31593"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/categories?post=31593"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coingrafter.com\/inde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