Bitcoin price is correcting gains above $35,000 against the US Dollar. According to famous analyst Aayush Jindal, who has made successful predictions, Bitcoin price could find strong support near the $34,000 region in the near term.
- Bitcoin price started a downside correction from the $36,000 zone.
- Price is now approaching the $34,000 support and 100 hourly simple movement average.
- There was a break below a major uptrend line with support near $35,000 on the saadollarsik chart of BTC/USD (data feed from Kraken).
- The pair is likely to find strong buying interest near the $34,000 and 100 hourdollarsic SMA.
Analyst: Bitcoin price could find strong buying interest at $34,000
Cryptocoin. com, Bitcoin price climbed above the $34,000 and $35,000 resistance levels. BTC even broke the $35,500 level and the 100 hour simple movement average. However, the price failed to clear the $36,000 zone. A high was formed near $35,918 before the price started a fresh decline. The price traded below the $35,000 and $35,000 levels.
32. There was a break below the 23.6% Fib retracement level of the upward wave from the $735 high to $35,920 high. There was also a break below a major uptrend line with support near $35,000 on the saadollarsik chart of the BTC/USD pair. The pair is now approaching the $34,000 support and the 100 saadollarsik simple movedollarsi average.
Here are the levels you should expect and watch in Bitcoin today
The 50% Fib retracement level of the surge from the $32,735 high to $35,920 high is also near the $34,350 zone. The next key support is near the $34,000 zone. Bitcoin price could continue to decline if there is a downside break below the $34.350 and $34,000 support levels. In the stated case, the price could decline towards the $32,500 region. More losses could push the price towards the $31,200 support zone.
If bitcoin price stays stable above the $34,000 support zone, it could start a fresh increase in the near term. A sudden resistance on the upside is near the $35,000 level and the trend line. The next key resistance is around $35,250, above which the price could test the $36,000 barrier. Any further gains could push the price higher towards the $37,000 resistance.
Current view of Bitcoin price with technical indicators
Saadollarsik MACD: The MACD for BTC/USD is slowly gaining momentum in the bearish zone.
Saadollarsik RSI (Relative Strength Index):The RSI for BTC/USD is now below the 50 level.
Main Support Levels: $34,350 followed by $34,000.
Main Resistance Levels:35. 000 dollars, 35,500 dollars and 36,000 dollars.
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