Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • CASINO
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • CASINO
Crypto Flexs
Home»EXCHANGE NEWS»100 SMA is essential for sustained gains.
EXCHANGE NEWS

100 SMA is essential for sustained gains.

By Crypto FlexsAugust 7, 20242 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
100 SMA is essential for sustained gains.
Share
Facebook Twitter LinkedIn Pinterest Email

Bitcoin price has started a recovery wave above the $55,000 resistance level. BTC needs to break through the 100-hour SMA to continue its uptrend in the short term.

  • Bitcoin recovered above the $53,500 and $55,500 levels.
  • The price is trading below $58,000 and the 100 hourly simple moving average.
  • A contracting triangle has emerged forming resistance at $57,500 on the hourly chart of the BTC/USD pair (data provided by Kraken).
  • The pair may struggle to break above the $58,000 resistance zone.

Bitcoin price rises more than 85%

Bitcoin price formed a base and started a recovery wave above the $52,500 resistance zone. BTC was able to break above the $53,500 and $55,500 resistance levels.

There was a move above the 61.8% Fibonacci correction level of the downtrend from the $61,040 swing high to the $49,110 swing low. The bulls even managed to push the price above the $56,500 resistance zone. However, the bears may continue to play around $58,000.

Bitcoin price is still trading below $58,000 and the 100-hourly simple moving average. In an uptrend, the price may face resistance near $57,500. A contracting triangle is also forming with resistance at $57,500 on the hourly chart of the BTC/USD pair.

The first major resistance level is near the $58,250 level or the 76.4% Fibonacci retracement level of the downtrend from the $61,040 swing high to the $49,110 swing low.

Source: BTCUSD on TradingView.com

If the resistance level of $58,250 is clearly surpassed, the price can move higher in the next session. The next major resistance level could be $59,200. The next major hurdle is $60,000. A close above the $60,000 resistance level could trigger a bullish move. In that case, the price could rise and test the $62,000 resistance level.

Bitcoin falling again?

If Bitcoin fails to recover above the $58,250 resistance zone, another downtrend could begin. Immediate support for the downtrend is near the $56,000 level.

The first major support is at $55,000. The next support is currently near $53,500. If there is further loss, the price could move towards the $52,000 support area in the short term.

Technical indicators:

Hourly MACD – MACD is now gaining speed in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently above the 50 level.

Key support levels – $56,000, then $55,000.

Key resistance levels – $57,500 and $58,250.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Cardano (ADA) flashes optimistic signals. Did the meeting just started?

July 26, 2025

Ether Leeum price rises

July 23, 2025

Bitcoin Price $ 123K Explosion -Trader Brace for Brake Out

July 20, 2025
Add A Comment

Comments are closed.

Recent Posts

Pepescape Crypto Presale Raises $1M As Ethereum Eyes $6K, Community-Owned Exchange Gigacex Unveiled

July 30, 2025

Midl Secures $2.4M Seed Investment From Draper Associates And Draper Dragon To Pioneer Native DApp Infrastructure On Bitcoin

July 30, 2025

LayerBTC starts $ LBTC ICO to power the new Bitcoin Layer 2 for Apps and Defi.

July 30, 2025

Asia Morning Briefing: SEC’s in -kind BTC, ETH ETF reduction shift occurred in Hong Kong a few years ago.

July 30, 2025

XRP Open Interests decrease by $ 2.4B after recent sale

July 30, 2025

Is it really possible to sell Memecoins?

July 29, 2025

Encryption Inheritance Update: July 2025

July 29, 2025

Charting the Course for the Future of Decentralized Platforms

July 29, 2025

Blockchain For Good Alliance Leads Global Digital Cooperation At UN IGF 2025

July 29, 2025

Queens Park Rangers And TokenFi Announces New Partnership

July 29, 2025

Onchain AI Agents Go Live With USDC & Coinbase X402

July 29, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Pepescape Crypto Presale Raises $1M As Ethereum Eyes $6K, Community-Owned Exchange Gigacex Unveiled

July 30, 2025

Midl Secures $2.4M Seed Investment From Draper Associates And Draper Dragon To Pioneer Native DApp Infrastructure On Bitcoin

July 30, 2025

LayerBTC starts $ LBTC ICO to power the new Bitcoin Layer 2 for Apps and Defi.

July 30, 2025
Most Popular

The riot platform (RIOT) improves the board and explores AI opportunities.

February 16, 2025

Analysts predict Bitcoin price to rise above $200,000 after BTC’s bullish momentum returns

July 17, 2024

Binance Lists Renzo as the 53rd Launchpool Token

April 23, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.