{"id":499948,"date":"2022-08-25T02:28:48","date_gmt":"2022-08-25T02:28:48","guid":{"rendered":"https:\/\/wncen.com\/?p=499948"},"modified":"2024-06-11T14:22:58","modified_gmt":"2024-06-11T14:22:58","slug":"bitcoin-price-another-decline-22k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-another-decline-22k\/","title":{"rendered":"TA: Bitcoin Price Recovers But Here\u2019s What Could Trigger Another Decline"},"content":{"rendered":"
Bitcoin is attempting a recovery wave above $21,500 against the US Dollar. BTC must clear the $22,650 resistance zone to move into a positive zone.<\/em><\/p>\n Bitcoin price seems to be forming a base above the $21,000 support zone<\/a>. BTC is slowly moving higher above the $21,200 and $21,400 levels.<\/p>\n There was a minor increase above the $21,500 resistance zone and the 100 hourly simple moving average. The price even spiked above the 23.6% Fib retracement level of the key drop from the $24,416 swing high to $20,797 low.<\/p>\n However, the price failed to settle above the $21,650 resistance zone. Bitcoin is now trading above the $21,400 level and the 100 hourly simple moving average<\/a>.<\/p>\n On the upside, an immediate resistance is near the $21,650 and $21,700 levels. The first major resistance on the upside sits near the $22,000 level. The next key resistance could be near the $22,500 zone. There is also a major bearish trend line forming with resistance near $22,400 on the hourly chart of the BTC\/USD pair.<\/p>\n <\/a><\/p>\n The main hurdle could be near the $22,650 zone. It is close to the 50% Fib retracement level of the key drop from the $24,416 swing high to $20,797 low. If there is an upside break above the $22,650 resistance zone, the price may perhaps rise towards the $23,500 resistance zone. Any more gains might send the price towards the $24,000 resistance zone.<\/p>\n If bitcoin fails to clear the $22,500 resistance zone, it could start another decline. An immediate support on the downside is near the $21,400 level and the 100 hourly simple moving average.<\/p>\n The next major support now sits near the $21,000 level. A clear move below the $21,000 support might increase selling pressure in the near term. In the stated case, the price might decline towards the $20,000 level.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is now losing pace in the bullish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now just above the 50 level.<\/p>\n Major Support Levels \u2013 $21,400, followed by $21,000.<\/p>\n Major Resistance Levels \u2013 $21,650, $22,000 and $22,650.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin is attempting a recovery wave above $21,500 against the US Dollar. BTC must clear the $22,650 resistance zone to move into a positive zone. Bitcoin is slowly moving higher above the $21,400 and $21,500 levels. The price is now trading above the $21,400 level and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $22,400 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could recover higher, but the bears might remain active near the $22,650 zone. Bitcoin Price Attempts Recovery Bitcoin price seems to be forming a base above the $21,000 support zone. BTC is slowly moving higher above the $21,200 and $21,400 levels. There was a minor increase above the $21,500 resistance zone and the 100 hourly simple moving average. The price even spiked above the 23.6% Fib retracement level of the key drop from the $24,416 swing high to $20,797 low. However, the price failed to settle above the $21,650 resistance zone. Bitcoin is now trading above the $21,400 level and the 100 hourly simple moving average. On the upside, an immediate resistance is near the $21,650 and $21,700 levels. The first major resistance on the upside sits near the $22,000 level. The next key resistance could be near the $22,500 zone. There is also a major bearish trend line forming with resistance near $22,400 on the hourly chart of the BTC\/USD pair. Source: BTCUSD on TradingView.com The main hurdle could be near the $22,650 zone. It is close to the 50% Fib retracement level of the key drop from the $24,416 swing high to $20,797 low. If there is an upside break above the $22,650 resistance zone, the price may perhaps rise towards the $23,500 resistance zone. Any more gains might send the price towards the $24,000 resistance zone. Fresh Decline in BTC? If bitcoin fails to clear the $22,500 resistance zone, it could start another decline. An immediate support on the downside is near the $21,400 level and the 100 hourly simple moving average. The next major support now sits near the $21,000 level. A clear move below the $21,000 support might increase selling pressure in the near term. In the stated case, the price might decline towards the $20,000 level. Technical indicators: Hourly MACD \u2013 The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now just above the 50 level. Major Support Levels \u2013 $21,400, followed by $21,000. Major Resistance Levels \u2013 $21,650, $22,000 and $22,650.<\/p>\n","protected":false},"author":67,"featured_media":464001,"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-499948","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 Attempts Recovery<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Fresh Decline in BTC?<\/h2>\n