TA: Why Bitcoin Price Could Explode Above $30.6K In Near-term

Name	Symbol	Market	Market Cap ($)	Algorithm
TRON	TRXUSD	Crypto	10,855,215,895	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

TRON

TRXUSD

Crypto

10,855,215,895

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.002849	2.37%	0.123167	0.123193	0.12322

Price Change

Price Change %

Current Price

Bid Price

Offer

0.002849

2.37%

0.123167

0.123193

0.12322

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.123316	0.120003	0.120318	0.120318	0.064588 - 0.144371

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.123316

0.120003

0.120318

0.064588 - 0.144371

Exchange	Last Trade	Size	Trade Price	Currency
KRKN	16:24:02	212.32	0.123167	USD

Exchange

Last Trade

Size

Trade Price

Currency

KRKN

16:24:02

212.32

0.123167

USD

Price x Volume	Volume	Base Symbol	Related Pairs
122,243.77	1,001,833.30	TRX	TRXEUR	TRXGBP	TRXBTC

Price x Volume

Volume

Base Symbol

Related Pairs

122,243.77

1,001,833.30

TA: Why Bitcoin Price Could Explode Above $30.6K In Near-term

23/05/2022 4:08am

NEWSBTC

Bitcoin started a fresh increase from the $28,500 support zone against the US Dollar. BTC could rally if there is a clear move above the $30,600 resistance zone. Bitcoin formed a double bottom pattern near $28,500 and climbed higher. The price is now trading above the $30,000 level and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $29,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if there is a clear move above $30,600. Bitcoin Price Could Soon Rally Bitcoin price remained well bid above the $28,500 support zone. It seems like there was a double bottom pattern formed above $28,500 before the price started a fresh increase. There was a clear move above the $29,500 resistance zone and the 100 hourly simple moving average. The price even climbed above the $30,000 resistance zone. However, the bears are still active near the $30,600 resistance zone. The price traded as high as $30,500 and is currently correcting lower. There was a move below the 23.6% Fib retracement level of the upward move from the $29,225 swing low to $30,500 high. On the downside, there is a key bullish trend line forming with support near $29,800 on the hourly chart of the BTC/USD pair. It is now trading above the $30,000 level and the 100 hourly simple moving average. An immediate resistance is near the $30,450 level. The next major resistance is near the $30,600 level. Source: BTCUSD on TradingView.com A clear move above the $30,450 and $30,600 resistance levels might start a strong rally in the near term. The next key resistance could be near the $31,500 level, above which the price might rise to $32,500. Fresh Decline in BTC? If bitcoin fails to clear the $30,600 resistance zone, it could start a fresh decline. An immediate support on the downside is near the $30,000 level. The first major support is near the $29,850 level and the trend line. The trend line is near the 50% Fib retracement level of the upward move from the $29,225 swing low to $30,500 high. A clear move below the trend line might send the price towards the $28,500 support. Technical indicators: Hourly MACD – The MACD is now slowly losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $29,850, followed by $29,600. Major Resistance Levels – $30,600, $31,200 and $31,500.

Market Data

News

Trading Tools

Markets

Discover

Hot Features

Follow Feed

Options Flow

Monitor

TRXUSD TRON