• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Technical analysis BTC

Bitcoin Surge Isn’t Over Yet, Why BTC Could Hit $34K Soon

Aayush Jindal by Aayush Jindal
3 weeks ago
in BTC
Reading Time: 2min read
Bitcoin
Advertisement
Listen to Article

Bitcoin price remained in a bullish zone and climbed above $30,000 against the US Dollar. BTC corrected lower after reaching a new all-time high, but it is likely to continue higher towards $34,000.

  • Bitcoin is up 12% and it is trading well above the $30,000 resistance zone.
  • The price is showing a lot of positive signs above $31,000 and the 100 simple moving average (4-hours).
  • There is a major bullish trend line forming with support near $30,800 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
  • The pair is likely to continue higher towards the $34,000 and $35,000 levels in the near term.

Bitcoin Price Sets New ATH

In the past few days, there was a strong increase in bitcoin price above the $25,000 resistance against the US Dollar. The BTC/USD pair broke many major barriers near $28,000 and $30,000 to continue higher.

The bulls even pushed the price above the $32,000 level and BTC traded to a new all-time high near $33,300. Recently, there was a sharp downside correction below the $32,000 level. The price even spiked below the $31,000 level, but it stayed above the $30,000 support.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

A low is formed near $30,316 and it started a fresh increase. There was a break above the $31,000 resistance zone. The bulls were able to push the price above the 50% Fib retracement level of the recent decline from the $33,298 high to $30,316 low.

Bitcoin Price

It is now trading nicely above the $32,000 resistance zone. There was a also a break above the 76.4% Fib retracement level of the recent decline from the $33,298 high to $30,316 low.

It seems like bitcoin price may soon clear the $33,298 high and trade to a new all-time high. The next key resistance could be near the $34,000 level. It is close to the 1.236 Fib extension level of the recent decline from the $33,298 high to $30,316 low.

Dips Supported in BTC?

If there is a fresh downside correction, bitcoin price might find bids near the $32,000 and $31,500 levels. There is also a major bullish trend line forming with support near $30,800 on the 4-hours chart of the BTC/USD pair.

The main support is now forming near the $30,000 level. A close below the $30,000 level might call for an extended decline towards the $28,500 level.

Technical indicators

4 hours MACD – The MACD for BTC/USD is gaining momentum in the bullish zone.

4 hours RSI (Relative Strength Index) – The RSI for BTC/USD is now well above the 60 level.

Major Support Level – $30,800

Major Resistance Level – $40,000

Tags: bitcoinbtcusdBTCUSDTxbtusd
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Aayush Jindal

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies and Financial Market Strategist with a background in IT and financial markets. He specialises in market strategies and technical analysis, and has spent over a DECADE as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin and Ethereum markets.

Related Posts

bitcoin bear trend adx

Bear Trend Begins To Take Hold In Bitcoin For First Time Since October 2020

6 hours ago
Bitcoin

Bitcoin Tests a Critical Resistance Following Overnight Rebound; What’s Next?

10 hours ago
TA: Bitcoin Nosedives To $28.5K, Why Important Support Turned Resistance

TA: Bitcoin Nosedives To $28.5K, Why Important Support Turned Resistance

23 hours ago
bitcoin altcoins

Altcoin Expert: Buy Crypto That Holds Up During Bitcoin Breakdown

1 day ago
evening star bitcoin

Evening Star: Reversal Pattern Could Sunset Bitcoin Price Action For Weeks

1 day ago
Bitcoin

TA: Bitcoin Struggles Below $36K, Why BTC Could Extend Losses

2 days ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Changelly

Changelly

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Cryptowisser Releases Report on Exchanges With Lowest Fees

January 22, 2021

LABS Group Announced Strategic Partnership with Centifuge to Provide DeFi Collateralized Property Backed Lending

January 22, 2021

Jump-starting Crypto Adoption: Aurix IEO Scheduled for January 21st on ExMarkets!

January 22, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +
  • Play Games
  • BUY BITCOIN

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.