{"id":18191,"date":"2024-11-06T02:41:27","date_gmt":"2024-11-06T02:41:27","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=18191"},"modified":"2024-11-06T02:41:27","modified_gmt":"2024-11-06T02:41:27","slug":"bitcoin-price-back-on-the-rise-as-trump-leads-the-pack-rally-to-continue","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=18191","title":{"rendered":"Bitcoin Price Back On The Rise as Trump Leads the Pack: Rally to Continue?"},"content":{"rendered":"

Bitcoin price is surging again above $70,000. BTC is showing signs of strength and might even clear the $73,500 resistance zone amid Trump\u2019s lead.<\/em><\/p>\n

Bitcoin started a fresh surge above the $70,000 zone.
\nThe price is trading above $71,000 and the 100 hourly Simple moving average.
\nThere was a break above a key bearish trend line with resistance at $68,450 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could struggle to rise above the $73,000 resistance zone.<\/p>\n

Bitcoin Price Surges Over 5%<\/h2>\n

Bitcoin price remained stable the $65,500 support zone<\/a>. A base was formed and BTC price started a fresh surge above the $68,500 resistance.<\/p>\n

Trump is clearing leading and sparking a fresh rally in BTC. The price gained over 5% and cleared the $70,000 barrier. It surpassed the 50% Fib retracement level of the downward move from the $73,574 swing high to the $66,836 low.<\/p>\n

There was a break above a key bearish trend line with resistance at $68,450 on the hourly chart of the BTC\/USD pair. Bitcoin price is now trading above $72,000 and the 100 hourly Simple moving average<\/a>. It is also above the 76.4% Fib retracement level of the downward move from the $73,574 swing high to the $66,836 low.<\/p>\n

On the upside, the price could face resistance near the $72,800 level. The first key resistance is near the $73,200 level. A clear move above the $73,200 resistance might send the price higher. The next key resistance could be $74,500.<\/p>\n

<\/a><\/p>\n

A close above the $74,500 resistance might initiate more gains. In the stated case, the price could rise and test the $75,000 resistance level. Any more gains might send the price toward the $78,000 resistance level.<\/p>\n

Are Dips Limited In BTC?<\/h2>\n

If Bitcoin fails to rise above the $73,200 resistance zone, it could start another decline. Immediate support on the downside is near the $72,000 level.<\/p>\n

The first major support is near the $71,200 level. The next support is now near the $70,500 zone. Any more losses might send the price toward the $70,000 support in the near term.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone.<\/p>\n

Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n

Major Support Levels \u2013 $72,000, followed by $71,200.<\/p>\n

Major Resistance Levels \u2013 $72,800, and $73,200.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price is surging again above $70,000. BTC is showing signs of strength and might even clear the $73,500 resistance zone amid Trump\u2019s lead. Bitcoin started a fresh surge above the $70,000 zone. The price is trading above $71,000 and the 100 hourly Simple moving average. There was a break above a key bearish trend […]<\/p>\n","protected":false},"author":0,"featured_media":18192,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-18191","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/18191"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18191"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/18191\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/18192"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18191"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18191"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18191"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}