{"id":503282,"date":"2022-09-23T02:38:40","date_gmt":"2022-09-23T02:38:40","guid":{"rendered":"https:\/\/wncen.com\/?p=503282"},"modified":"2024-06-11T14:26:31","modified_gmt":"2024-06-11T14:26:31","slug":"bitcoin-price-range-bound-19k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-range-bound-19k\/","title":{"rendered":"TA: Bitcoin Price Remains Range bound, Why There\u2019s Hope of a Fresh Rally"},"content":{"rendered":"
Bitcoin started an upside correction from the $18,150 zone against the US Dollar. BTC is back above $19,200 and a break above $19,500 could spark a fresh rally.<\/em><\/p>\n Bitcoin price remained well bid above the $18,150 level. BTC traded as low as $18,138 and started a decent recovery wave<\/a>. The price was able to recover above the $18,800 and $19,000 resistance levels.<\/p>\n There was a move above the 50% Fib retracement level of the downward move from the $19,888 swing high to $18,138 low. The bulls even pushed the price above the $19,200 resistance zone. It is now trading above $19,000 and the 100 hourly simple moving average<\/a>.<\/p>\n There is also a key contracting triangle forming with support near $19,200 on the hourly chart of the BTC\/USD pair. Bitcoin price is showing a few positive signs above the $19,000 level.<\/p>\n On the upside, an immediate resistance is near the $19,475 level. It is near the 76.4% Fib retracement level of the downward move from the $19,888 swing high to $18,138 low. The next major resistance sits near the $19,680 level.<\/p>\n <\/a><\/p>\n A close above the $19,680 level might start a fresh surge to $20,000. Any more gains might send the price towards the $20,500 resistance zone.<\/p>\n If bitcoin fails to recover above the $19,680 zone, it could start a fresh decline. An immediate support on the downside is near the $19,200 zone and the triangle lower trend line.<\/p>\n The next major support is near the $19,000 level and the 100 hourly SMA. A clear move below the $19,000 zone could set the pace for a fresh decline. In the stated case, the price may even test the $18,500 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 $19,200, followed by $19,000.<\/p>\n Major Resistance Levels \u2013 $19,500, $19,680 and $20,000.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin started an upside correction from the $18,150 zone against the US Dollar. BTC is back above $19,200 and a break above $19,500 could spark a fresh rally. Bitcoin is showing a few positive signs above the $19,000 level. The price is trading above $19,000 and the 100 hourly simple moving average. There is a key contracting triangle forming with support near $19,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could stage a fresh rally if there is a clear move above the $19,500 resistance zone. Bitcoin Price Recovers Bitcoin price remained well bid above the $18,150 level. BTC traded as low as $18,138 and started a decent recovery wave. The price was able to recover above the $18,800 and $19,000 resistance levels. There was a move above the 50% Fib retracement level of the downward move from the $19,888 swing high to $18,138 low. The bulls even pushed the price above the $19,200 resistance zone. It is now trading above $19,000 and the 100 hourly simple moving average. There is also a key contracting triangle forming with support near $19,200 on the hourly chart of the BTC\/USD pair. Bitcoin price is showing a few positive signs above the $19,000 level. On the upside, an immediate resistance is near the $19,475 level. It is near the 76.4% Fib retracement level of the downward move from the $19,888 swing high to $18,138 low. The next major resistance sits near the $19,680 level. Source: BTCUSD on TradingView.com A close above the $19,680 level might start a fresh surge to $20,000. Any more gains might send the price towards the $20,500 resistance zone. Fresh Decline in BTC? If bitcoin fails to recover above the $19,680 zone, it could start a fresh decline. An immediate support on the downside is near the $19,200 zone and the triangle lower trend line. The next major support is near the $19,000 level and the 100 hourly SMA. A clear move below the $19,000 zone could set the pace for a fresh decline. In the stated case, the price may even test the $18,500 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 $19,200, followed by $19,000. Major Resistance Levels \u2013 $19,500, $19,680 and $20,000.<\/p>\n","protected":false},"author":67,"featured_media":459773,"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-503282","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<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Fresh Decline in BTC?<\/h2>\n