{"id":500081,"date":"2022-08-26T02:38:09","date_gmt":"2022-08-26T02:38:09","guid":{"rendered":"https:\/\/wncen.com\/?p=500081"},"modified":"2024-06-11T14:23:01","modified_gmt":"2024-06-11T14:23:01","slug":"bitcoin-price-struggle-22k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-struggle-22k\/","title":{"rendered":"TA: Bitcoin Price Could Avoid Another Drop if it Closes Above One Key Level"},"content":{"rendered":"
Bitcoin is struggling to gain pace above $21,500 against the US Dollar. BTC must clear the $22,500 resistance zone to avoid a fresh decline in the near term.<\/em><\/p>\n Bitcoin price started a minor upside correction<\/a> from the $21,000 support zone. BTC was able to slowly move higher above the $21,250 and $21,500 levels.<\/p>\n The price even broke the $21,650 level and the 100 hourly simple moving average. There was a clear move above the 23.6% Fib retracement level of the downward move from the $24,416 swing high to $20,797 low. However, the bulls struggled to gain strength for a push towards the $22,000 resistance.<\/p>\n Bitcoin price is now trading above the $21,500 level and the 100 hourly simple moving average<\/a>. On the upside, an immediate resistance is near the $21,750 and $21,800 levels.<\/p>\n The first major resistance on the upside sits near the $22,000 level. There is also a key bearish trend line forming with resistance near $22,000 on the hourly chart of the BTC\/USD pair. A clear move above the trend line resistance might send the price towards the $22,500 zone.<\/p>\n <\/a><\/p>\n The next major resistance could be near the $22,650 zone. It is close to the 50% Fib retracement level of the downward move from the $24,416 swing high to $20,797 low. Any more gains might send the price towards the $24,000 resistance zone.<\/p>\n If bitcoin fails to clear the $22,000 resistance zone, it could start another decline. An immediate support on the downside is near the $21,500 level and the 100 hourly simple moving average.<\/p>\n The next major support now sits near the $21,000 level. A close below the $21,000 support might start another decline 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 above the 50 level.<\/p>\n Major Support Levels \u2013 $21,500, followed by $21,000.<\/p>\n Major Resistance Levels \u2013 $21,750, $22,000 and $22,650.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin is struggling to gain pace above $21,500 against the US Dollar. BTC must clear the $22,500 resistance zone to avoid a fresh decline in the near term. Bitcoin is struggling to gain pace above the $21,500 and $21,600 levels. The price is now trading above the $21,500 level and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $22,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start a decent increase if there is a close above the $22,000 resistance zone. Bitcoin Price Faces Hurdles Bitcoin price started a minor upside correction from the $21,000 support zone. BTC was able to slowly move higher above the $21,250 and $21,500 levels. The price even broke the $21,650 level and the 100 hourly simple moving average. There was a clear move above the 23.6% Fib retracement level of the downward move from the $24,416 swing high to $20,797 low. However, the bulls struggled to gain strength for a push towards the $22,000 resistance. Bitcoin price is now trading above the $21,500 level and the 100 hourly simple moving average. On the upside, an immediate resistance is near the $21,750 and $21,800 levels. The first major resistance on the upside sits near the $22,000 level. There is also a key bearish trend line forming with resistance near $22,000 on the hourly chart of the BTC\/USD pair. A clear move above the trend line resistance might send the price towards the $22,500 zone. Source: BTCUSD on TradingView.com The next major resistance could be near the $22,650 zone. It is close to the 50% Fib retracement level of the downward move from the $24,416 swing high to $20,797 low. Any more gains might send the price towards the $24,000 resistance zone. Fresh Decline in BTC? If bitcoin fails to clear the $22,000 resistance zone, it could start another decline. An immediate support on the downside is near the $21,500 level and the 100 hourly simple moving average. The next major support now sits near the $21,000 level. A close below the $21,000 support might start another decline 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 above the 50 level. Major Support Levels \u2013 $21,500, followed by $21,000. Major Resistance Levels \u2013 $21,750, $22,000 and $22,650.<\/p>\n","protected":false},"author":67,"featured_media":460984,"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-500081","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 Faces Hurdles<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Fresh Decline in BTC?<\/h2>\n