Bitcoin

Bitcoin price started a strong increase above the $35,000 resistance against the US Dollar. BTC is currently showing a lot of positive signs and it could even surge above $38,000.

Bitcoin started a steady increase above the $35,000 and $36,000 resistance levels.
The price is currently well above $36,000 and the 100 hourly simple moving average.
There was a break above a major bearish trend line with resistance near $35,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair is likely to accelerate higher if it clears the $38,000 resistance zone in the near term.

Bitcoin Price Turns Green
Bitcoin found a strong buying interest near the $31,000 zone and it started a steady increase. BTC broke many important hurdles near $35,000 to move into a positive zone.
There was also a break above a major bearish trend line with resistance near $35,000 on the hourly chart of the BTC/USD pair. The pair even settled above the $36,000 resistance and the 100 hourly simple moving average.
Bitcoin climbed above the $37,000 level and traded as high as $37,484. It is now consolidating gains above the $37,000 level. An immediate support is near the $36,500 level. The first key support is near the $36,000 zone. It is close to the 23.6% Fib retracement level of the upward move from the $31,050 swing low to $37,484 high.

Source: BTCUSD on TradingView.com
The next major support is near the $35,000 level and the 100 hourly simple moving average. The 50% Fib retracement level of the upward move from the $31,050 swing low to $37,484 high is the next support near the $34,250 level.
On the upside, the first major resistance is near the $37,500 level. The main resistance is near the $38,000 zone, above which the price could rally towards the $40,000 level in the near term.
Dips Supported in BTC?
If bitcoin fails to clear the $38,000 resistance, it could start a downside correction. An initial support on the downside is near the $36,500 level.
The first major support is near the $36,000 level. The main support is now forming near the $35,000 level and the 100 hourly SMA. If the price fails to stay above $35,000, the price could dive to $32,000.
Technical indicators:
Hourly MACD – The MACD is now gaining pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now well above the 50 level.
Major Support Levels – $36,000, followed by $35,000.
Major Resistance Levels – $37,500, $38,000 and $40,000.

Ericka Turcotte

By Ericka Turcotte

I have worked in the financial sector for over 10 years and have a keen interest in cryptocurrency. I have been writing about crypto for the past two years and have become one of the most respected authors in the space. I have a deep understanding of how this new asset class works and am able to provide insights that are both interesting and useful to my readers.

bitcoin
Bitcoin (BTC) $ 16,888.53
ethereum
Ethereum (ETH) $ 1,268.02
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 297.26
usd-coin
USD Coin (USDC) $ 1.00
binance-usd
Binance USD (BUSD) $ 1.00
xrp
XRP (XRP) $ 0.404125
dogecoin
Dogecoin (DOGE) $ 0.106896
cardano
Cardano (ADA) $ 0.314387
matic-network
Polygon (MATIC) $ 0.860700
polkadot
Polkadot (DOT) $ 5.40
staked-ether
Lido Staked Ether (STETH) $ 1,254.13
litecoin
Litecoin (LTC) $ 78.48
shiba-inu
Shiba Inu (SHIB) $ 0.000009
okb
OKB (OKB) $ 21.37
dai
Dai (DAI) $ 1.00
tron
TRON (TRX) $ 0.054074
solana
Solana (SOL) $ 13.58
uniswap
Uniswap (UNI) $ 5.71
avalanche-2
Avalanche (AVAX) $ 12.76
chainlink
Chainlink (LINK) $ 7.46
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 16,864.96
leo-token
LEO Token (LEO) $ 3.77
cosmos
Cosmos Hub (ATOM) $ 10.41
ethereum-classic
Ethereum Classic (ETC) $ 20.11
monero
Monero (XMR) $ 140.05
the-open-network
The Open Network (TON) $ 1.72
stellar
Stellar (XLM) $ 0.089910
bitcoin-cash
Bitcoin Cash (BCH) $ 112.93
algorand
Algorand (ALGO) $ 0.244087
quant-network
Quant (QNT) $ 115.56
crypto-com-chain
Cronos (CRO) $ 0.064710
apecoin
ApeCoin (APE) $ 4.29
filecoin
Filecoin (FIL) $ 4.38
near
NEAR Protocol (NEAR) $ 1.67
vechain
VeChain (VET) $ 0.019014
hedera-hashgraph
Hedera (HBAR) $ 0.050219
flow
Flow (FLOW) $ 1.12
internet-computer
Internet Computer (ICP) $ 4.04
elrond-erd-2
MultiversX (Elrond) (EGLD) $ 43.10
frax
Frax (FRAX) $ 1.00
eos
EOS (EOS) $ 0.935864
terra-luna
Terra Luna Classic (LUNC) $ 0.000162
theta-token
Theta Network (THETA) $ 0.942863
chain-2
Chain (XCN) $ 0.043593
tezos
Tezos (XTZ) $ 1.01
huobi-token
Huobi (HT) $ 6.94
aave
Aave (AAVE) $ 63.78
the-sandbox
The Sandbox (SAND) $ 0.575663
lido-dao
Lido DAO (LDO) $ 1.14