The price of Bitcoin has strengthened its foothold above $ 32,000 for another climb. Bitcoin broke the $ 33,500 resistance and the simple 100-hour moving average yesterday and entered the positive range.
to the the report The bitcoin price doubled as it crossed the 50% Fibonacci level, which was in a downward trend from $ 36,200 to $ 28,850. In one-hour timeframe, Bitcoin crossed its significant downtrend near $ 33,500.
Each bitcoin unit is currently trading above 24,000 and a moving average of 100 hours. On the other hand, the current price is higher than Fibonacci 76.4%, which fell from $ 36,200 to $ 28,850.
The chart shows that the uptrend is likely to continue and jump to above $ 36,000. If the jump starts, the first resistance will be $ 36,200. The main resistance to bitcoin is near $ 37,000. If the price breaks, $ 38,000 will act as the next resistance.
$ 34,000 will be the first bitcoin support in the event of a fall. The main support is $ 33,500 and the average moving average is 100 hours. Breaking this support will pave the way for 32,000.
The MACD is currently entering the uptrend and the Relative Strength Index (RSI) is above 50.
$ 34,400 and $ 33,500 are the main supports for the Bitcoin price, and $ 36,200, $ 37,000 and $ 38,000, respectively, show the resistance of this digital currency on the chart.