Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
Home»EXCHANGE NEWS»Bitcoin Price Consolidation – Why 100 SMA Could Trigger a New Rise
EXCHANGE NEWS

Bitcoin Price Consolidation – Why 100 SMA Could Trigger a New Rise

By Crypto FlexsNovember 30, 20232 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Bitcoin Price Consolidation – Why 100 SMA Could Trigger a New Rise
Share
Facebook Twitter LinkedIn Pinterest Email

Bitcoin price again failed to break the $38,500 resistance zone. BTC is consolidating above its 100 hourly SMA and may attempt another increase.

  • Bitcoin still faces significant resistance near $38,500.
  • The price is trading above $37,400 and the 100-hour simple moving average.
  • The hourly chart of the BTC/USD pair (data feed from Kraken) shows a major bullish trendline forming with support near $37,350.
  • The pair may make another attempt to clear the $38,500 resistance level unless it falls below $37,350.

Bitcoin price maintains support

Bitcoin price remained above the $37,500 support area. BTC rose above the $38,000 level and made another attempt to clear the $38,400 resistance area.

However, the bulls failed to gain traction and the price peaked near $38,400. It is taking profits again and trading below the 23.6% Fib retracement level of the upward move from the $36,721 swing low to the $38,390 high.

Bitcoin is currently trading above $37,400 and the 100-hour simple moving average. The hourly chart of the BTC/USD pair also has a major bullish trend line forming with support near $37,350.

On the other hand, immediate resistance is close to the $38,200 level. The first major resistance is forming near $38,400. Key resistance is still near the $38,500 level. A break above the $38,500 resistance could trigger a new rally.

Source: TradingView.com BTCUSD

The next major resistance could be near $39,200, above which BTC could rise towards the $39,500 level. More gains could push BTC towards $40,000 resistance.

Will there be more losses in BTC?

If Bitcoin fails to rise above the $38,400 resistance zone, another decline could begin. Immediate support for the bears is near the $37,550 level or the 50% Fib retracement level of the rise from the $36,721 swing low to the $38,390 high.

The next major support is near $37,350 and the trend line. There is further downside risk if the price falls below $37,350. If indicated, the price may decline towards the $36,720 support in the near term.

Technical indicators:

Hourly MACD – MACD is now losing speed in bullish territory.

Hourly Relative Strength Index (RSI) – The RSI for BTC/USD is now close to the 50 level.

Key support levels – $37,550, then $37,350.

Key resistance levels – $38,400, $38,500 and $39,200.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Bitcoin prices return to green -building exercise for more profits

June 26, 2025

Dogecoin (DOGE) after collision

June 23, 2025

Litecoin Key Support in Focus Price Eye Brake Out Determination

June 20, 2025
Add A Comment

Comments are closed.

Recent Posts

Checkpoint #4: Berlinterop | Ether Leeum Foundation Blog

June 28, 2025

TRON Price Propects USDT supply exceeded $ 80 billion

June 28, 2025

Stablecoin startups surpass 2021 venture capital peaks as institutional money spills.

June 28, 2025

No Altcoin Season 2025 ? Why Bitcoin Dominance Is Holding Strong In The Crypto Market

June 28, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Safe smart account audit summary

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

Bybit Expands Global Reach With Credit Card Crypto Purchases In 25+ Currencies And Cashback Rewards

June 27, 2025

BYDFi Joins Seoul Meta Week 2025, Advancing Web3 Vision And South Korea Strategy

June 27, 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

Checkpoint #4: Berlinterop | Ether Leeum Foundation Blog

June 28, 2025

TRON Price Propects USDT supply exceeded $ 80 billion

June 28, 2025

Stablecoin startups surpass 2021 venture capital peaks as institutional money spills.

June 28, 2025
Most Popular

US Spot Ethereum ETF Records Net Buys of $133 Million for Second Trading Day

July 25, 2024

The sale of Ordinals pushed Magic Eden to the top of the NFT marketplace, surpassing Blur by $108 million.

May 10, 2024

Real Asset Tokenization Outperforms Crypto Sector

June 9, 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.