{"id":41419,"date":"2022-11-30T09:32:08","date_gmt":"2022-11-30T13:32:08","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=41419"},"modified":"2022-11-30T09:45:23","modified_gmt":"2022-11-30T13:45:23","slug":"btc-prepares-for-a-relief-rally-as-bulls-take-charge","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/btc-prepares-for-a-relief-rally-as-bulls-take-charge\/","title":{"rendered":"BTC prepares for a relief rally as bulls take charge "},"content":{"rendered":"\n

Over the previous day on the BTC chart, the price of bitcoin<\/a> maintained a support level after bouncing off the $15,400 price mark.<\/p>\n\n\n\n

\"\"\/
BTC prepares for a relief rally as bulls take charge <\/figcaption><\/figure>\n\n\n\n

Ever since then BTC has been fluctuating around the $16,000 price level over the past 24 hours. Bitcoin is waiting for a breakout as it is now trading sideways following the recovery.<\/p>\n\n\n\n

The bullish move won't be valid unless the coin rises above the $16,600 threshold.\u00a0 There is a probability that Bitcoin will move to the $17,000 price range now that it is getting closer to the aforementioned price resistance level.\u00a0<\/p>\n\n\n\n

For the coin to rise above the $16,600 price level, buyers must step up.\u00a0Technical analysis <\/a>verifies that the BTC chart is on an uptrend.\u00a0<\/p>\n\n\n\n

Despite an increase in the one-day chart, the buying strength has remained low.\u00a0<\/p>\n\n\n\n

Bitcoin Price Analysis: One-Day Chart<\/h2>\n\n\n\n
\"\"\/<\/figure>\n\n\n\n

On the one-day chart, the price of Bitcoin was $16,500 | BTC was trading at $16,500 at the time of publication. Bitcoin saw positive buying activity after breaking through the $15,400 price barrier. The coin's price has risen past $16,000 as a result of this. The critical price area is still at $16,500, and a rise over it will provide Bitcoin with a bullish impulse<\/a>. <\/p>\n\n\n\n

Bulls might be stopped at $17,600 by moving above BTC's overhead barrier, which was at $17,000. If BTC rises above $17,600, it will psychologically surpass $18,000. The previous session's volume of BTC traded was green, signifying accumulation.<\/p>\n\n\n\n

Technical Analysis  <\/h2>\n\n\n\n
\"\"\/<\/figure>\n\n\n\n

When the coin moved above $15,400 in the middle of this month, buyers' confidence in the asset returned.\u00a0The coin had recently crossed into the oversold area.\u00a0<\/p>\n\n\n\n

BTC showed demand on the one-day chart at the time this article was written. As coin demand started to increase again, the Relative Strength Index<\/a> began to rise above the 40-point level. <\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

The following trading session would see a surge above $17,000 if demand holds steady. If Bitcoin exceeds the $16,700 price threshold, it may go over the 20-Simple Moving Average. \r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a><\/p>\n\n\n\n

BTC was now trading below the 20-SMA. This demonstrated that market price momentum was still being driven by sellers. <\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

A buy signal has been established for power bitcoin on the one-day chart.\u00a0<\/p>\n\n\n\n

BTC also showed the beginning of the buy signal for the coin following the buying intensity. A change in trend and price momentum are indicated by the Moving Average Convergence Divergence. <\/p>\n\n\n\n

Green signal bars on the MACD<\/a>, which correspond to the purchase signal for BTC, were visible. The Bollinger Bands, which show price variation, shrunk in anticipation of rangebound movement. <\/p>\n\n\n\n

Demand will pick up, giving bulls more to push through the present trading range.<\/p>\n\n\n\n

Conclusion\u00a0<\/h2>\n\n\n\n

This week is going to be generally bullish in the crypto market as BTC looks to soar above $17,00 other altcoins will follow in their bullish movement\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Over the previous day on the BTC chart, the price of bitcoin maintained a support level after bouncing off the $15,400 price mark. Ever since then BTC has been fluctuating around the $16,000 price level over the past 24 hours. Bitcoin is waiting for a breakout as it is now trading sideways following the recovery. […]<\/p>\n","protected":false},"author":42,"featured_media":41428,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[76,25],"tags":[5805,152,132],"class_list":["post-41419","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-price","category-market-analysis","tag-crypto-market-2","tag-bitcoin","tag-crypto"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/11\/86B5A915-6AD7-4524-AFA9-80AE95705BEB.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/41419","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/42"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=41419"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/41419\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/41428"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=41419"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=41419"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=41419"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}