Bitcoin Price Key Indicators Suggest A Strengthening Case For Rally To $32K

NewsBTC
NewsBTC

30 Jun 2023 3:01 AM

Bitcoin price is still struggling to clear the $31,000 resistance. BTC is showing strength and might soon rally toward the $32,000 resistance....

  • Bitcoin price is struggling to clear the $31,000 resistance and is trading in a range below it.
  • The price is currently above $30,400 and the 100 hourly Simple Moving Average.
  • There was a break above a key declining channel with resistance near $30,210.
  • The pair could gain bullish momentum if it clears the $30,750 resistance zone.
  • The first major resistance is near $31,000, followed by $31,450.
  • Immediate support is near the $30,420 level and the 100 hourly Simple Moving Average.
  • Technical indicators show the MACD gaining pace in the bullish zone and the RSI above the 50 level.

The sentiment of the article is cautiously optimistic. It mentions that Bitcoin is showing strength and might soon rally, but also highlights the struggle to clear the resistance levels.

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