{"id":495636,"date":"2022-07-14T03:08:05","date_gmt":"2022-07-14T03:08:05","guid":{"rendered":"https:\/\/wncen.com\/?p=495636"},"modified":"2024-06-11T10:14:06","modified_gmt":"2024-06-11T10:14:06","slug":"bitcoin-price-reclaims-20k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-reclaims-20k\/","title":{"rendered":"TA: Bitcoin Price Reclaims $20K, Can BTC Surpass The 100 SMA"},"content":{"rendered":"
Bitcoin extended losses and traded below $19,200 against the US Dollar. BTC found support near $19,000 and started an upside correction.<\/em><\/p>\n Bitcoin price started a fresh decline<\/a> below the $20,000 support zone. The price even broke the $19,600 and $19,250 support levels.<\/p>\n Finally, there was a spike below the $19,000 level. A low was formed near $18,916 and the price is now correcting losses. There was a steady move above the $19,250 and $19,500 levels. The bulls pumped the price above the 23.6% Fib retracement level of the downward move from the $22,499 swing high to $18,916 low.<\/p>\n Besides, there was a break above a key bearish trend line with resistance near $19,400 on the hourly chart of the BTC\/USD pair. The price even climbed above the $20,000 resistance level.<\/p>\n Bitcoin is now trading above the $20,000 level and testing the 100 hourly simple moving average<\/a>. It seems to be facing resistance near the $20,350 level. On the upside, the price could resistance near the $20,600 level. The next key resistance is near the $20,700 zone.<\/p>\n The 50% Fib retracement level of the downward move from the $22,499 swing high to $18,916 low is also near the $20,700 level. A close above the $20,700 resistance zone could set the pace for a decent increase.<\/p>\n <\/a><\/p>\n In the stated case, the price may perhaps rise towards the $21,650 level. The next major resistance sits near the $22,000 level.<\/p>\n If bitcoin fails to start a recovery wave above the $20,600 level, it could start a fresh decline. An immediate support on the downside is near the $20,000 level.<\/p>\n The next major support now sits near the $19,500 level. A close below the $19,500 support zone could accelerate losses. In the stated case, there is a risk of a move towards the $18,800 level.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n Major Support Levels \u2013 $20,000, followed by $19,500.<\/p>\n Major Resistance Levels \u2013 $20,350, $20,600 and $20,700.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin extended losses and traded below $19,200 against the US Dollar. BTC found support near $19,000 and started an upside correction. Bitcoin traded as low as $18,916 and started an upside correction. The price is now trading above the $20,000 level and testing the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $19,400 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair might gain bullish momentum if it clears the 100 hourly SMA and $20,600. Bitcoin Price Recovers Above $20K Bitcoin price started a fresh decline below the $20,000 support zone. The price even broke the $19,600 and $19,250 support levels. Finally, there was a spike below the $19,000 level. A low was formed near $18,916 and the price is now correcting losses. There was a steady move above the $19,250 and $19,500 levels. The bulls pumped the price above the 23.6% Fib retracement level of the downward move from the $22,499 swing high to $18,916 low. Besides, there was a break above a key bearish trend line with resistance near $19,400 on the hourly chart of the BTC\/USD pair. The price even climbed above the $20,000 resistance level. Bitcoin is now trading above the $20,000 level and testing the 100 hourly simple moving average. It seems to be facing resistance near the $20,350 level. On the upside, the price could resistance near the $20,600 level. The next key resistance is near the $20,700 zone. The 50% Fib retracement level of the downward move from the $22,499 swing high to $18,916 low is also near the $20,700 level. A close above the $20,700 resistance zone could set the pace for a decent increase. Source: BTCUSD on TradingView.com In the stated case, the price may perhaps rise towards the $21,650 level. The next major resistance sits near the $22,000 level. Fresh Decline in BTC? If bitcoin fails to start a recovery wave above the $20,600 level, it could start a fresh decline. An immediate support on the downside is near the $20,000 level. The next major support now sits near the $19,500 level. A close below the $19,500 support zone could accelerate losses. In the stated case, there is a risk of a move towards the $18,800 level. Technical indicators: Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level. Major Support Levels \u2013 $20,000, followed by $19,500. Major Resistance Levels \u2013 $20,350, $20,600 and $20,700.<\/p>\n","protected":false},"author":67,"featured_media":461328,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1144,78790,76835],"class_list":["post-495636","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n\n
Bitcoin Price Recovers Above $20K<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Fresh Decline in BTC?<\/h2>\n