Bitcoin Price Looks Ready For Another Leg Higher Over $28.5K

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	523,984,879,255	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

523,984,879,255

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	451.52	1.71%	26,805.67	29,187.39	29,187.40

Price Change

Price Change %

Current Price

Bid Price

Offer

451.52

1.71%

26,805.67

29,187.39

29,187.40

High Price	Low Price	Open Price	Prev. Close	52 Week Range
26,911.92	26,321.37	26,362.98	26,354.15	15,500.00 - 31,862.21

High Price

Low Price

Open Price

Prev. Close

52 Week Range

26,911.92

26,321.37

26,362.98

26,354.15

15,500.00 - 31,862.21

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	16:19:07	0.000831	26,806.88	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

16:19:07

0.000831

26,806.88

USD

Price x Volume	Volume	Base Symbol	Related Pairs
279,077,188.50	10,506.85	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

279,077,188.50

10,506.85

Bitcoin Price Looks Ready For Another Leg Higher Over $28.5K

22/03/2023 3:58am

NEWSBTC

Bitcoin price is attempting an upside break above the $28,500 resistance zone. BTC could rally if there is a close above the $28,500 resistance zone. Bitcoin is gaining pace above the $28,000 resistance. The price is trading above $27,500 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $27,780 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if there is a close above the $28,500 resistance. Bitcoin Price Eyes More Gains Bitcoin price made another attempt to clear the $28,500 resistance zone. However, BTC struggled to gain pace for a close above the $28,500 resistance zone. As a result, there was a downside correction below the $28,000 level. The price spiked below the 50% Fib retracement level of the upward move from the $23,912 swing low to $28,591 high. It tested the key $27,400 support zone and the 100 hourly simple moving average. The bulls protected the 61.8% Fib retracement level of the upward move from the $23,912 swing low to $28,591 high. There is also a key bullish trend line forming with support near $27,780 on the hourly chart of the BTC/USD pair. Bitcoin price is now trading above $27,500 and the 100 hourly simple moving average. On the upside, an immediate resistance is near the $28,400 level. Source: BTCUSD on TradingView.com The next major resistance is near the $28,500 zone or the recent high. A close above the $28,500 resistance might start another major increase. In the stated case, the price could rise towards the $29,200 level. Any more gains might send the price towards the $30,000 resistance zone. Dips Limited in BTC? If bitcoin price fails to clear the $28,500 resistance, it could start a downside correction. An immediate support on the downside is near the $27,780 zone, the 100 hourly simple moving average, and the trend line. The next major support is near the $27,000 zone. Any more losses might send the price towards the $26,200 support zone. The next major support is near the $25,700 level. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $27,780, followed by $27,000. Major Resistance Levels – $28,400, $28,500 and $30,000.

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