Bitcoin Price Regains Traction, BTC Seems Primed for More Upsides

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,254,603,674,361	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,254,603,674,361

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	700.60	1.11%	63,885.11	63,885.10	63,885.11

Price Change

Price Change %

Current Price

Bid Price

Offer

700.60

1.11%

63,885.11

63,885.10

63,885.11

High Price	Low Price	Open Price	Prev. Close	52 Week Range
64,415.06	62,845.74	63,228.48	63,166.48	24,750.00 - 73,835.57

High Price

Low Price

Open Price

Prev. Close

52 Week Range

64,415.06

62,845.74

63,228.48

63,166.48

24,750.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	16:22:01	0.000029	63,877.80	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

16:22:01

0.000029

63,877.80

USD

Price x Volume	Volume	Base Symbol	Related Pairs
476,601,250.84	7,488.23	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

476,601,250.84

7,488.23

Bitcoin Price Regains Traction, BTC Seems Primed for More Upsides

30/11/2022 3:10am

NEWSBTC

Bitcoin price gained bullish momentum above the $16,500 resistance. BTC could rise further if there is a close above the $17,000 resistance. Bitcoin started a decent increase above the $16,500 and $16,650 resistance levels. The price is trading above $16,500 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $16,450 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could rise further if there is a close above the $17,000 resistance. Bitcoin Price Gains Bullish Momentum Bitcoin price formed a base above the $16,200 support zone. BTC started a steady increase and was able to clear the $16,500 resistance zone and the 100 hourly simple moving average. During the increase, there was a break above a major bearish trend line with resistance near $16,450 on the hourly chart of the BTC/USD pair. The pair even surpassed the 76.4% Fib retracement level of the downward move from the $16,589 swing high to $16,000 low. Bitcoin price is now trading above $16,500 and the 100 hourly simple moving average. It is testing the 1.618 Fib extension level of the downward move from the $16,589 swing high to $16,000 low. Source: BTCUSD on TradingView.com On the upside, an immediate resistance is near the $16,950 level. The first major resistance is near the $17,000 zone, above which the price may perhaps accelerate higher. In the stated case, the price could test the $17,500 resistance. The next major resistance is near $18,000, above which the price could gain pace for a move towards the $18,800 zone. Dips Supported in BTC? If bitcoin fails to climb above the $17,000 resistance, there could be a downside correction. An immediate support on the downside is near the $16,800 level. The next major support is near the $16,500 zone or the 100 hourly SMA, below which the price decline further. In the stated case, the price might drop towards the $16,200 support zone. Any more losses might call for a test of the key $16,000 support zone in the near term. 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 – $16,800, followed by $16,500. Major Resistance Levels – $16,950, $17,000 and $17,500.

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