{"id":1111,"date":"2024-11-08T05:11:07","date_gmt":"2024-11-08T05:11:07","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/bitcoin-price-advances-again-can-bulls-push-it-even-higher\/"},"modified":"2024-11-08T05:11:07","modified_gmt":"2024-11-08T05:11:07","slug":"bitcoin-price-advances-again-can-bulls-push-it-even-higher","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/bitcoin-price-advances-again-can-bulls-push-it-even-higher\/","title":{"rendered":"Bitcoin Price Advances Again: Can Bulls Push It Even Higher?"},"content":{"rendered":"<p><em>Bitcoin price is gaining pace above $75,000. BTC is rising and might aim for a move above the $77,000 resistance zone in the near term.<\/em><\/p>\n<ul>\n<li>Bitcoin started a fresh surge above the $74,500 zone.<\/li>\n<li>The price is trading above $74,000 and the 100 hourly Simple moving average.<\/li>\n<li>There is a connecting bullish trend line forming with support at $75,450 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could continue to rise above the $76,200 resistance zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Sets Another ATH<\/h2>\n<p>Bitcoin price started a fresh increase above the $74,500 level. BTC cleared the $75,000 resistance and traded to a new all-time high. It posted a high at $76,937 and is currently consolidating gains.<\/p>\n<p>There was a minor decline below the $76,200 level. The price dipped below the 23.6% Fib retracement level of the upward move from the $72,745 swing low to the $76,937 high. However, the price is still in a positive zone above the $75,000 level.<\/p>\n<p>Bitcoin price is now trading above $75,200 and the 100 hourly Simple moving average. There is also a connecting bullish trend line forming with support at $75,450 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>On the upside, the price could face resistance near the $76,000 level. The first key resistance is near the $76,200 level. A clear move above the $76,200 resistance might send the price higher. The next key resistance could be $78,000.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" loading=\"lazy\" class=\"wp-image-652136 size-full\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/11\/Bitcoin_58a0c8.png?resize=1024%2C478\" alt=\"Bitcoin Price\" width=\"1024\" height=\"478\" \/><\/p>\n<p>A close above the $78,000 resistance might initiate more gains. In the stated case, the price could rise and test the $78,800 resistance level. Any more gains might send the price toward the $79,450 resistance level.<\/p>\n<h2>Are Dips Limited In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $76,200 resistance zone, it could continue to move down. Immediate support on the downside is near the $75,450 level and the trend line.<\/p>\n<p>The first major support is near the $74,350 level or the 61.8% Fib retracement level of the upward move from the $72,745 swing low to the $76,937 high. The next support is now near the $73,750 zone. Any more losses might send the price toward the $72,200 support in the near term.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now losing 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 $75,450, followed by $74,350.<\/p>\n<p>Major Resistance Levels \u2013 $76,000, and $76,200.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is gaining pace above $75,000. BTC is rising and might aim for a move above the $77,000 resistance zone in the near term. Bitcoin started a fresh surge above the $74,500 zone. The price is trading above $74,000 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming&hellip;<\/p>\n","protected":false},"author":1,"featured_media":1112,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[145],"tags":[65,108,73,70,71,146],"class_list":["post-1111","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:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/1111","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/comments?post=1111"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/1111\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/1112"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=1111"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=1111"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=1111"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}