{"id":495939,"date":"2022-07-18T03:08:49","date_gmt":"2022-07-18T03:08:49","guid":{"rendered":"https:\/\/wncen.com\/?p=495939"},"modified":"2024-06-11T10:50:43","modified_gmt":"2024-06-11T10:50:43","slug":"bitcoin-price-eyes-fresh-increase-22k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-eyes-fresh-increase-22k\/","title":{"rendered":"TA: Bitcoin Price Eyes Fresh Increase To $22K, Why Dips Remain Supported"},"content":{"rendered":"
Bitcoin started a steady increase above the $21,000 resistance against the US Dollar. BTC could rise further towards $22,000 if it stays above the $20,500 support.<\/em><\/p>\n Bitcoin price formed a base above the $19,200 level and started a decent increase<\/a>. The price traded above the $20,500 resistance zone to move into a positive zone.<\/p>\n The price even gained pace above the $21,000 level and settled above the 100 hourly simple moving average<\/a>. A high was formed near $21,664 before there was a downside correction. The price traded below the $21,000 level, but the bulls were active near the $20,750 zone and the 100 hourly simple moving average.<\/p>\n A low was formed near $20,748 and the price is now rising. It broke the 23.6% Fib retracement level of the downward move from the $21,664 swing high to $20,748 low.<\/p>\n There was also a break above a short-term bearish trend line with resistance near $21,000 on the hourly chart of the BTC\/USD pair. On the upside, bitcoin price could resistance near the $21,200 level. It is near the 50% Fib retracement level of the downward move from the $21,664 swing high to $20,748 low.<\/p>\n <\/a><\/p>\n The next key resistance is near the $21,500 zone. A close above the $21,500 resistance zone could set the pace for a decent increase. In the stated case, the price may perhaps rise towards the $22,000 level. The next major resistance sits near the $22,800 level.<\/p>\n If bitcoin fails to clear the $21,500 resistance zone, it could start a downside correction. An immediate support on the downside is near the $21,000 level.<\/p>\n The next major support now sits near the $20,750 level and the 100 hourly SMA. A clear move below the $20,750 support might send the price towards $20,500.<\/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 $21,000, followed by $20,750.<\/p>\n Major Resistance Levels \u2013 $21,200, $21,500 and $22,000.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin started a steady increase above the $21,000 resistance against the US Dollar. BTC could rise further towards $22,000 if it stays above the $20,500 support. Bitcoin is slowly moving higher above the $21,000 resistance zone. The price is now trading above the $20,800 level and testing the 100 hourly simple moving average. There was a break above a short-term bearish trend line with resistance near $21,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair might gain bullish momentum if it clears the $21,500 and $21,600 levels. Bitcoin Price Shows Positive Signs Bitcoin price formed a base above the $19,200 level and started a decent increase. The price traded above the $20,500 resistance zone to move into a positive zone. The price even gained pace above the $21,000 level and settled above the 100 hourly simple moving average. A high was formed near $21,664 before there was a downside correction. The price traded below the $21,000 level, but the bulls were active near the $20,750 zone and the 100 hourly simple moving average. A low was formed near $20,748 and the price is now rising. It broke the 23.6% Fib retracement level of the downward move from the $21,664 swing high to $20,748 low. There was also a break above a short-term bearish trend line with resistance near $21,000 on the hourly chart of the BTC\/USD pair. On the upside, bitcoin price could resistance near the $21,200 level. It is near the 50% Fib retracement level of the downward move from the $21,664 swing high to $20,748 low. Source: BTCUSD on TradingView.com The next key resistance is near the $21,500 zone. A close above the $21,500 resistance zone could set the pace for a decent increase. In the stated case, the price may perhaps rise towards the $22,000 level. The next major resistance sits near the $22,800 level. Dips Supported in BTC? If bitcoin fails to clear the $21,500 resistance zone, it could start a downside correction. An immediate support on the downside is near the $21,000 level. The next major support now sits near the $20,750 level and the 100 hourly SMA. A clear move below the $20,750 support might send the price towards $20,500. 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 $21,000, followed by $20,750. Major Resistance Levels \u2013 $21,200, $21,500 and $22,000.<\/p>\n","protected":false},"author":67,"featured_media":462504,"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-495939","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 Shows Positive Signs<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Dips Supported in BTC?<\/h2>\n