Bitcoin failed again to clear the $30,600 resistance zone against the US Dollar. BTC is declining, but the bulls might remain active near $28,500.<\/em><\/p>\n

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Bitcoin failed to gain strength for a move above the $30,600 resistance zone.<\/li>\n
The price is now trading below the $30,000 level and the 100 hourly simple moving average.<\/li>\n
There was break below a major bullish trend line with support near $29,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could continue to move down towards the main $28,700 support zone.<\/li>\n<\/ul>\n
Bitcoin Price Tops Again<\/h2>\n
Bitcoin price attempted a fresh increase from the $28,500 support zone<\/a>. There was a clear move above $30,000 resistance zone and the 100 hourly simple moving average.<\/p>\n
However, the bears were again active near the $30,600 resistance zone. A high was formed near $30,630 and the price started another decline. There was a sharp reaction below the $30,000 support zone and the 100 hourly simple moving average<\/a>.<\/p>\n
Bitcoin traded below the 50% Fib retracement level of the upward move from the $28,700 swing low to $30,630 high. Besides, there was break below a major bullish trend line with support near $29,800 on the hourly chart of the BTC\/USD pair.<\/p>\n
The price even spiked below the 76.4% Fib retracement level of the upward move from the $28,700 swing low to $30,630 high. It is now consolidating, with an immediate resistance near the $29,500 level.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
The next major resistance is near the $29,650 level and the 100 hourly SMA. The first key resistance is near the $30,000 level. A clear move above the $30,000 resistance level might send the price towards the main $30,600 resistance zone.<\/p>\n
More Losses in BTC?<\/h2>\n
If bitcoin fails to clear the $29,650 resistance zone, it could continue to move down. An immediate support on the downside is near the $29,000 level.<\/p>\n
The first major support is near the $28,850 level. The main support sits near the $28,500 level. A clear move below the $28,500 support zone may perhaps start a major decline. In the stated case, the price could dive to $27,800.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now slowly losing pace in the bearish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level.<\/p>\n
Major Support Levels \u2013 $28,850, followed by $28,500.<\/p>\n
Major Resistance Levels \u2013 $29,650, $30,000 and $30,600.<\/p>\n<\/div>\n

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Bitcoin failed again to clear the $30,600 resistance zone against the US Dollar. BTC is declining, but the bulls might remain active near $28,500. Bitcoin failed to gain strength for a move above the $30,600 resistance zone. The price is now trading below the $30,000 level and the 100 hourly simple moving average. There was […]<\/p>\n","protected":false},"author":1,"featured_media":9965,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[36,610,427,2601,124,1145,2461],"class_list":{"0":"post-26982","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-market","8":"tag-bitcoin","9":"tag-dips","10":"tag-key","11":"tag-limited","12":"tag-price","13":"tag-range","14":"tag-stuck"},"_links":{"self":[{"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/posts\/26982","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/comments?post=26982"}],"version-history":[{"count":0,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/posts\/26982\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/media\/9965"}],"wp:attachment":[{"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/media?parent=26982"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/categories?post=26982"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/tags?post=26982"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}