{"id":173233,"date":"2023-03-30T03:26:20","date_gmt":"2023-03-30T03:26:20","guid":{"rendered":"https:\/\/precoinnews.com\/?p=173233"},"modified":"2023-03-30T03:26:20","modified_gmt":"2023-03-30T03:26:20","slug":"bitcoin-price-regains-strength-as-the-bulls-target-fresh-monthly-high","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/bitcoin-price-regains-strength-as-the-bulls-target-fresh-monthly-high\/","title":{"rendered":"Bitcoin Price Regains Strength As The Bulls Target Fresh Monthly High"},"content":{"rendered":"<p><em>Bitcoin price is rising above the $28,000 resistance. BTC bulls seem to be aiming a fresh surge above the $28,500 and $28,800 resistance levels.<\/em><\/p>\n<ul>\n<li>Bitcoin is slowly moving higher above the $27,500 resistance zone.<\/li>\n<li>The price is trading above $28,000 and the 100 hourly simple moving average.<\/li>\n<li>There is a short-term breakout pattern forming with resistance near $28,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could rally if there is a clear move above the $28,500 and $28,800 resistance levels.<\/li>\n<\/ul>\n<h2>Bitcoin Price Reclaims $28K<\/h2>\n<p>Bitcoin price started a decent increase above the $27,500 resistance. BTC gained pace and was able to clear many hurdles near the $27,800 and $28,000 levels.<\/p>\n<p>During the increase, there was a break above a key bearish trend line with resistance near $27,800 on the hourly chart of the BTC\/USD pair. It opened the doors for a push towards the key $28,500 resistance zone. A high is formed near $28,629 and the price is now consolidating gains.<\/p>\n<p>Bitcoin price is now trading above $28,000 and the 100 hourly simple moving average. There is also a short-term breakout pattern forming with resistance near $28,500 on the hourly chart of the BTC\/USD pair.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/03\/Bitcoin-21.png\"><\/p>\n<p>Source: BTCUSD on TradingView.com<\/p>\n<p>On the upside, an immediate resistance is near the $28,500 level. The next major resistance is near the $28,800 zone. A close above the triangle resistance and then $28,800 might send the price further higher. In the stated case, the price could climb higher towards the $29,500 resistance. Any more gains might call for a test of the $30,000 resistance zone.<\/p>\n<h2>Another Rejection in BTC?<\/h2>\n<p>If bitcoin price fails to clear the $28,500 resistance, it could start another decline. An immediate support on the downside is near the $28,200 zone or the 23.6% Fib retracement level of the upward move from the $26,600 swing low to $28,629 high.<\/p>\n<p>The next major support is near the $27,650 zone and the 100 hourly simple moving average. A downside break below the $27,650 support might spark a fresh decline. The next major support is near the $27,200 level, below which the price might test $26,500.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $27,650, followed by $27,200.<\/p>\n<p>Major Resistance Levels \u2013 $28,500, $28,800 and $30,000.<\/p>\n<p>Source: <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-regains-strength-28k\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is rising above the $28,000<\/p>\n","protected":false},"author":3,"featured_media":173232,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin Price Regains Strength As The Bulls Target Fresh Monthly High - 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