{"id":826,"date":"2024-10-21T04:00:18","date_gmt":"2024-10-21T04:00:18","guid":{"rendered":"https:\/\/coinsvalue.net\/blog\/bitcoin-price-surges-ahead-is-this-the-start-of-a-bigger-run\/"},"modified":"2024-10-21T04:00:18","modified_gmt":"2024-10-21T04:00:18","slug":"bitcoin-price-surges-ahead-is-this-the-start-of-a-bigger-run","status":"publish","type":"post","link":"https:\/\/coinsvalue.net\/blog\/bitcoin-price-surges-ahead-is-this-the-start-of-a-bigger-run\/","title":{"rendered":"Bitcoin Price Surges Ahead: Is This The Start of a Bigger Run?"},"content":{"rendered":"<p><em>Bitcoin price extended gains above the $68,000 resistance zone. BTC is now consolidating and aiming for more gains above the $69,500 resistance.<\/em><\/p>\n<ul>\n<li>Bitcoin remained stable and extended gains above the $68,500 zone.<\/li>\n<li>The price is trading above $68,500 and the 100 hourly Simple moving average.<\/li>\n<li>There is a key contracting triangle forming with support at $68,750 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could rally further if there is a close above the $69,450 resistance zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Rises Toward $70,000<\/h2>\n<p>Bitcoin price remained supported above the $67,500 zone. BTC started another minor increase above the $68,000 resistance zone. The bulls were able to clear the $68,800 barrier.<\/p>\n<p>The price even cleared the $69,000 level. A high was formed near $69,428 and the price is now consolidating gains. There was a minor decline below the $69,000 level, but the price is stable above the 23.6% Fib retracement level of the upward move from the $66,644 swing low to the $69,428 high.<\/p>\n<p>Bitcoin price is now trading above $68,200 and the 100 hourly Simple moving average. There is also a key contracting triangle forming with support at $68,750 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>On the upside, the price could face resistance near the $69,200 level. The first key resistance is near the $69,500 level. A clear move above the $69,500 resistance might send the price higher. The next key resistance could be $70,000.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" class=\"wp-image-648999 size-full\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/10\/Bitcoin_01ee94.png?resize=1024%2C478\" alt=\"Bitcoin Price\" width=\"1024\" height=\"478\" loading=\"lazy\" \/><\/p>\n<p>A close above the $70,000 resistance might initiate more gains. In the stated case, the price could rise and test the $71,200 resistance level. Any more gains might send the price toward the $72,000 resistance level.<\/p>\n<h2>Another Decline In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $69,500 resistance zone, it could start another decline. Immediate support on the downside is near the $68,750 level and the triangle\u2019s trend line.<\/p>\n<p>The first major support is near the $68,050 level and the 50% Fib retracement level of the upward move from the $66,644 swing low to the $69,428 high. The next support is now near the $67,400 zone. Any more losses might send the price toward the $66,500 support in the near term.<\/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 $68,750, followed by $68,500.<\/p>\n<p>Major Resistance Levels \u2013 $69,500, and $70,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price extended gains above the $68,000 resistance zone. BTC is now consolidating and aiming for more gains above the $69,500 resistance. Bitcoin remained stable and extended gains above the $68,500 zone. The price is trading above $68,500 and the 100 hourly Simple moving average. There is a key contracting triangle forming with support at&hellip;<\/p>\n","protected":false},"author":1,"featured_media":827,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[56,69,61,70,62,71],"class_list":["post-826","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-btc","tag-bitcoin","tag-bitcoin-price","tag-btc","tag-btcusd","tag-btcusdt","tag-xbtusd"],"_links":{"self":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/posts\/826","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/comments?post=826"}],"version-history":[{"count":0,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/posts\/826\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/media\/827"}],"wp:attachment":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/media?parent=826"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/categories?post=826"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/tags?post=826"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}