• About
  • FAQ
  • Landing Page
  • Buy JNews
Newsletter
Crypto News
Advertisement
  • Home
    • Home – Layout 1
    • Home – Layout 2
    • Home – Layout 3
  • Bitcoin
  • Ethereum
  • Regulation
  • Market
  • Blockchain
  • Business
  • Guide
  • Contact Us
No Result
View All Result
  • Home
    • Home – Layout 1
    • Home – Layout 2
    • Home – Layout 3
  • Bitcoin
  • Ethereum
  • Regulation
  • Market
  • Blockchain
  • Business
  • Guide
  • Contact Us
No Result
View All Result
Crypto News
No Result
View All Result

TA: Bitcoin Holds Strong At $31K, Why The Bulls Are Facing Uphill Task

by
January 27, 2021
in Uncategorized
0
TA: Bitcoin Holds Strong At $31K, Why The Bulls Are Facing Uphill Task
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Bitcoin price is stuck in a range below the $33,500 and $33,800 resistance levels against the US Dollar. BTC is likely to continue lower unless it clears the $33,800 resistance.

  • Bitcoin retested the $31,000 zone and managed to stay in a range.
  • The price is currently facing resistance near $32,800 and the 100 hourly simple moving average.
  • There is a short-term ascending channel or a bear flag forming with support near $31,900 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could trade in a range, with a strong resistance near $33,500 and $33,800.

Bitcoin Price Is Facing Strong Resistance

After a failed attempt to clear the $35,000 resistance, bitcoin price trimmed gains and traded below $33,800. BTC even broke the $32,500 level and settled below the 100 hourly simple moving average.

Related articles

Coinbase could see fee compression in long term, CEO expects

April 14, 2021

Zignaly Lists on AscendEX

April 14, 2021

There was a spike below the $31,000 level, but it remained stable above $30,800. A low is formed near $30,823 and the price is currently recovering higher. It surpassed the 23.6% Fib retracement level of the downward move from the $34,915 high to $30,823 low.

Bitcoin price is currently facing resistance near $32,800 and the 100 hourly simple moving average. The 50% Fib retracement level of the downward move from the $34,915 high to $30,823 low is also near $32,800.

Bitcoin Price

Source: BTCUSD on TradingView.com

At the outset, it seems like there is a short-term ascending channel or a bear flag forming with support near $31,900 on the hourly chart of the BTC/USD pair.  To continue higher, the bulls need to gain strength above $32,500, $32,800 and the 100 hourly SMA.

The next strong resistance is near the $33,500 and $33,800 levels. A close above $33,800 could increase the chances of a steady rise in the coming sessions.

Fresh Dip in BTC?

If bitcoin fails to clear the $32,800 resistance or $33,500, it could start a fresh decline. An initial support is near the channel support at $31,900.

A clear break below the channel support could open the doors for a larger decline towards the $30,800 support. Any more losses may possibly call for a downside break below the $30,000 support zone.

Technical indicators:

Hourly MACD – The MACD is struggling to gain momentum in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now close to the 50 level.

Major Support Levels – $31,800, followed by $30,800.

Major Resistance Levels – $32,800, $33,500 and $33,800.

Share76Tweet47

Related Posts

Coinbase could see fee compression in long term, CEO expects

by
April 14, 2021
0

Brian Armstrong expects other revenue streams to take the lead in five or 10 years. Coinbase CEO Brian Armstrong has...

Zignaly Lists on AscendEX

by
April 14, 2021
0

PRESS RELEASE. AscendEX, formerly BitMax, an industry-leading digital asset trading platform built by Wall Street quant trading veterans, has announced...

Bitcoin Price Captures a $64,895 High, Pantera CEO Says ‘BTC Rally Exactly Like Previous Halvings’

by
April 14, 2021
0

Cryptocurrency markets have been surging during the last 24 hours, as billions of dollars have flooded into the crypto-economy. Bitcoin’s...

Brandt: You’re Doing it Wrong if You Accumulate Dollars Over Bitcoin

by
April 14, 2021
0

In a death knell to the dollar, Peter Brandt says the goal should be to stockpile Bitcoin. The renowned trader...

European Central Bank releases results of digital euro consultation

by
April 14, 2021
0

Privacy concerns regarding the digital euro abound as the European Central bank tests the waters for a central bank digital...

Load More
  • Trending
  • Comments
  • Latest
Grayscale’s Crypto Assets Under Management Soar Past $30 Billion — ‘Institutions Are Here’

Grayscale’s Crypto Assets Under Management Soar Past $30 Billion — ‘Institutions Are Here’

February 6, 2021
Grayscale Investments Buys more ETH as Ethereum Price Shoots to New All-Time High of over $1550

Grayscale Investments Buys more ETH as Ethereum Price Shoots to New All-Time High of over $1550

February 3, 2021

Mark Cuban Invests in Mintable

March 6, 2021
Only 5% of Financial Executives Want to Invest in Bitcoin in 2021, According to Survey

Only 5% of Financial Executives Want to Invest in Bitcoin in 2021, According to Survey

February 17, 2021

Coinbase could see fee compression in long term, CEO expects

0

China Is Reportedly Moving To Clamp Down On Bitcoin Miners

0

Inside the Chinese Bitcoin Mine That’s Grossing $1.5M a Month

0

All You Need to Know About This Whole SegWit vs. SegWit2x Thing

0

Coinbase could see fee compression in long term, CEO expects

April 14, 2021

Zignaly Lists on AscendEX

April 14, 2021

Bitcoin Price Captures a $64,895 High, Pantera CEO Says ‘BTC Rally Exactly Like Previous Halvings’

April 14, 2021

Brandt: You’re Doing it Wrong if You Accumulate Dollars Over Bitcoin

April 14, 2021
Crypto News

We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc. Check our landing page for details.

Categories tes

  • Aave (AAVE)
  • Abra
  • Alt Season
  • altcoin
  • Altcoin Market Cap
  • Altcoin News
  • altcoin prices
  • altcoins
  • Altseason
  • Barstool Sports
  • Basic Attention Token (BAT)
  • Binance
  • Binance (BNB) News
  • Binance Coin (BNB)
  • Binance Ecosystem
  • Binance Smart Chain
  • Binance Smart Chain (BSC)
  • bitcoin
  • Bitcoin
  • Bitcoin (BTC) Adoption
  • Bitcoin (BTC) General News
  • Bitcoin (BTC) News
  • Bitcoin (BTC) Predictions
  • Bitcoin Cash (BCH)
  • Bitcoin Cash (BCH) General News
  • Bitcoin dominance
  • Bitcoin ETF
  • Bitcoin Futures
  • Bitcoin Miners
  • bitcoin network
  • Bitcoin Options
  • Bitcoin price
  • Bitcoin SV (BSV)
  • Bitfinex
  • BitGo
  • Bitstamp
  • Bittrex
  • Blockchain
  • Blockchain News
  • bloomberg
  • Brad Garlinghouse
  • Business
  • Cameron Winklevoss
  • Cardano (ADA)
  • Cardano Upgrade
  • Cash app
  • CFTC
  • ChainLink
  • ChainLink (LINK)
  • Chainlink (LINK) News
  • Chainlink Community
  • Chainlink Oracles
  • Chainlink Price Prediction
  • Changpeng Zhao
  • Charles Hoskinson
  • charlie lee
  • CME Ethereum Futures
  • CME Group
  • coinbase
  • Coinbase (COIN)
  • Coinmarketcap
  • Commodity Futures Trading Commission
  • Consensys
  • Craig Wright
  • Crypto Exchanges
  • cryptocurrency
  • Dash (DASH)
  • Dave Portnoy
  • Decentraland (MANA)
  • DeFi
  • DeFi Pulse
  • Deribit
  • Dogecoin (DOGE)
  • Electric Coin Company
  • Elon Musk
  • ETH 2.0
  • ETH2.0
  • Ethereum
  • Ethereum (ETH)
  • Ethereum (ETH) News
  • Ethereum 2.0
  • Ethereum Classic (ETC)
  • Ethereum Fees
  • Ethereum Futures
  • Ethereum Miners
  • Ethereum Network
  • ethereum price
  • Ethereum price analysis
  • Ethereum Staking
  • Ethereum Upgrade
  • Ethereum Upgrades
  • Filecoin (FIL)
  • Flare Networks
  • Flare Networks Snapshot
  • Gemini
  • google
  • Grayscale
  • Grayscale Bitcoin Trust (GBTC)
  • Grayscale Ethereum Trust (ETHE)
  • Grayscale Investments
  • Guide
  • Guides
  • Huobi
  • Institutional Investors
  • jack dorsey
  • Jay Z
  • justin sun
  • JustSwap
  • LINK Marines
  • Litecoin
  • Litecoin (LINK)
  • Litecoin (LTC)
  • Litecoin (LTC) News
  • Litecoin Development
  • litecoin foundation
  • Litecoin MimbleWimble
  • Maker (MKR)
  • Market
  • Michael Saylor
  • MicroStrategy
  • MimbleWimble
  • Mining
  • Monero (XMR)
  • Moneygram
  • Nasdaq
  • News
  • NFT
  • NFTs
  • Non-Fungible Tokens
  • OKECoin
  • Other
  • Pantera Capital
  • Polkadot (DOT)
  • Polkadot Price Analysis
  • Poloniex
  • Prices
  • Regulation
  • ripple
  • Ripple
  • Scams and Hacks
  • sec
  • Securities and Exchange Commission
  • Signal
  • Spark Token (FLR)
  • Spark Token Airdrop
  • Spark Tokens (FLR)
  • Square
  • Stimulus Bill
  • Stimulus Check
  • SushiSwap (SUSHI)
  • Tesla
  • Tether (USDT)
  • tether bitfinex lawsuit
  • Theta Network (THETA)
  • Theta Token
  • Tron (TRX)
  • TRON (TRX) News
  • Tron Foundation
  • Twitter
  • Tyler Winklevoss
  • Uniswap
  • UniSwap (UNI)
  • Wallets and Exchanges
  • WallStreetBets
  • Weiss Ratings
  • WhatsApp
  • World
  • Wrapped Bitcoin (WBTC)
  • XRP
  • XRP Army
  • XRP News
  • XRP Price Prediction
  • Yearn Finance (YFI)
  • Youtube
  • Zcash (ZEC)
  • ZCash Halving
  • Zeus Capital
  • Zilliqa (ZIL)
  • Zilliqa (ZIL) News
  • Zilliqa Staking

Tags

Altcoin Bitcoin drops Bitcoin Wallet Cointelegraph Cryptocurrency ICO Investment Lending Market Stories Mining Bitcoin

Newsletter

[mc4wp_form]

  • About
  • FAQ
  • Support Forum
  • Landing Page
  • Buy JNews
  • Contact Us

© 2017 JNews - Crafted with love by Jegtheme.

No Result
View All Result
  • Contact Us
  • Homepages
  • Business
  • Guide

© 2018 JNews by Jegtheme.