Bitcoin Price Turns Attractive On Dips, 100 SMA Is The Key

Name	Symbol	Market	Market Cap ($)	Algorithm
TRON	TRXUSD	Crypto	12,081,264,801	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

TRON

TRXUSD

Crypto

12,081,264,801

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.000215	-0.16%	0.137349	0.137339	0.13735

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.000215

-0.16%

0.137349

0.137339

0.13735

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.137743	0.136943	0.137564	0.137564	0.071373 - 0.144371

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.137743

0.136943

0.137564

0.071373 - 0.144371

Exchange	Last Trade	Size	Trade Price	Currency
KRKN	14:15:19	50.57	0.137349	USD

Exchange

Last Trade

Size

Trade Price

Currency

KRKN

14:15:19

50.57

0.137349

USD

Price x Volume	Volume	Base Symbol	Related Pairs
34,554.10	251,754.94	TRX	TRXEUR	TRXGBP	TRXBTC

Price x Volume

Volume

Base Symbol

Related Pairs

34,554.10

251,754.94

Bitcoin Price Turns Attractive On Dips, 100 SMA Is The Key

01/03/2024 3:05am

NEWSBTC

Bitcoin price is correcting gains from the $64,000 resistance. BTC might find strong support near the $59,250 level or the 100 hourly SMA. Bitcoin price is correcting gains below the $62,250 resistance zone. The price is trading above $60,000 and the 100 hourly Simple moving average. There was a break below a connecting bullish trend line with support at $62,850 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could correct lower toward $60,000 or even to the 100 hourly Simple moving average. Bitcoin Price Starts Correction Bitcoin price extended its rally above the $62,000 resistance zone. BTC even cleared the $63,200 level and tested the $64,000 zone. A new multi-week high was formed near $64,000 before the price started a downside correction. The price traded below the $62,000 support. There was a spike below the 50% Fib retracement level of the upward move from the $57,846 swing low to the $53,549 swing high. There was a break below a connecting bullish trend line with support at $62,850 on the hourly chart of the BTC/USD pair. Bitcoin is still trading above $60,000 and the 100 hourly Simple moving average. Source: BTCUSD on TradingView.com Immediate resistance is near the $62,200 level. The next key resistance could be $62,850, above which the price could rise toward the $64,000 resistance zone. If the bulls remain in action, the price could even surpass $64,000 and test $65,000. Any more gains might send the price toward the $68,000 zone. Are Dips Limited In BTC? If Bitcoin fails to rise above the $62,200 resistance zone, it could continue to move down. Immediate support on the downside is near the $60,000 level and the 61.8% Fib retracement level of the upward move from the $57,846 swing low to the $53,549 swing high. The first major support is $58,000 or the 100 hourly SMA. If there is a close below $58,000, the price could start a decent pullback toward the $56,500 zone. Any more losses might send the price toward the $55,000 support zone. Technical indicators: Hourly MACD – The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $60,000, followed by $58,000. Major Resistance Levels – $62,200, $62,850, and $64,000.

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