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Bitcoin Price Surges 8% And Defies Gravity – Bulls Eye $30K

June 21, 2023
in Crypto Exchanges
Reading Time: 2 mins read
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Bitcoin value is surging above $28,000. BTC is up practically 8% and there are probabilities of a transfer towards the $30,000 resistance zone.

Bitcoin is gaining tempo above the $27,000 resistance.
The worth is buying and selling above $27,500 and the 100 hourly Easy transferring common.
There’s a main bullish pattern line forming with assist close to $27,300 on the hourly chart of the BTC/USD pair (knowledge feed from Kraken).
The pair may rise additional if it clears the $29,000 and $29,200 resistance ranges.

Bitcoin Worth Rallies Above $28K

Bitcoin value fashioned a robust assist base above the $26,000 pivot degree. BTC began a recent rally and was in a position to clear the $27,500 resistance zone.

It opened the doorways for a sustained upward transfer above the $28,000 degree. The worth even examined the $29,000 resistance zone. A excessive is fashioned close to $29,000 and the worth is now consolidating good points. It’s buying and selling above the 23.6% Fib retracement degree of the current surge from the $26,650 swing low to the $29,000 excessive.

Bitcoin value is now buying and selling above $27,500 and the 100 hourly Easy transferring common. There’s additionally a significant bullish pattern line forming with assist close to $27,300 on the hourly chart of the BTC/USD pair.

Bitcoin Price

Supply: BTCUSD on TradingView.com

On the upside, the worth is going through resistance close to the $29,000 degree. The following main resistance is close to the $29,200 degree. An in depth above the $29,200 resistance may spark one other sturdy transfer within the close to time period. The following main resistance is close to the $30,000 degree, above which the bulls may ship BTC towards the $30,800 resistance zone.

Are Dips Restricted in BTC?

If Bitcoin’s value fails to clear the $29,000 resistance, it may begin a draw back correction. Rapid assist on the draw back is close to the $28,450 degree.

The following main assist is close to the $27,850 degree or the 50% Fib retracement degree of the current surge from the $26,650 swing low to the $29,000 excessive. The principle assist is now close to $27,500 and the pattern line zone, under which the worth may begin a gentle decline towards $27,000. Any extra losses may ship the worth towards $26,500 within the close to time period.

Technical indicators:

Hourly MACD – The MACD is now gaining tempo within the bullish zone.

Hourly RSI (Relative Energy Index) – The RSI for BTC/USD is within the overbought zone.

Main Help Ranges – $28,450, adopted by $27,850.

Main Resistance Ranges – $29,000, $29,200, and $30,000.

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Tags: 30KBitcoinbullsDefieseyeGravityPriceSurges
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