{"id":505096,"date":"2022-10-06T02:38:49","date_gmt":"2022-10-06T02:38:49","guid":{"rendered":"https:\/\/wncen.com\/?p=505096"},"modified":"2024-06-11T14:27:06","modified_gmt":"2024-06-11T14:27:06","slug":"ta-bitcoin-price-breaking-this-confluence-resistance-could-spark-strong-surge","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ta-bitcoin-price-breaking-this-confluence-resistance-could-spark-strong-surge\/","title":{"rendered":"TA: Bitcoin Price Breaking This Confluence Resistance Could Spark Strong Surge"},"content":{"rendered":"<p><em>Bitcoin price is showing positive signs above $20,000 against the US Dollar. BTC could start a strong surge if it clears the $20,500 resistance.<\/em><\/p>\n<ul>\n<li>Bitcoin is gaining pace above the $19,800 and $20,000 resistance levels.<\/li>\n<li>The price is trading above $20,100 and the 100 hourly simple moving average.<\/li>\n<li>There is a key bullish trend line forming with support near $20,150 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could gain bullish momentum if there is a clear move above the $20,500 resistance.<\/li>\n<\/ul>\n<h2>Bitcoin Price Remains Supported<\/h2>\n<p>Bitcoin price attempted an <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-reclaims-20k-3\/\" target=\"_blank\" rel=\"noopener \">upside break above the $20,500 resistance zone<\/a>. However, BTC struggled near the $20,450 zone and started a downside correction.<\/p>\n<p>There was a move below the $20,000 support zone, but the price remained supported well above the 100 hourly simple moving average. It traded as low as $19,754 and recently started a fresh increase. There was a clear move above the $20,000 and $20,200 resistance levels.<\/p>\n<p>Bitcoin price climbed above the 50% Fib retracement level of the recent decline from the $20,475 swing high to $19,754 low. It is now trading above $20,100 and the <a href=\"https:\/\/wncen.com\/analysis\/btc\/ta-bitcoin-price-close-below-20k-could-spark-larger-degree-increase\/\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>. Besides, there is also a key bullish trend line forming with support near $20,150 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>It also cleared the 76.4% Fib retracement level of the recent decline from the $20,475 swing high to $19,754 low. On the upside, an immediate resistance is near the $20,450 level. The next major resistance sits near the $20,500 zone.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-5.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-505098\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-5.png?resize=1950%2C1115\" alt=\"Bitcoin Price\" width=\"1950\" height=\"1115\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-5.png?w=1950 1950w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-5.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-5.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-5.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-5.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-5.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-5.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/p>\n<p>A proper close above the $20,500 resistance might start another increase. In the stated case, the price could even surpass the $21,000 resistance zone. In the stated case, the bulls might aim a move towards the $22,000 level.<\/p>\n<h2>Dips Supported in BTC?<\/h2>\n<p>If bitcoin fails to rise above the $20,450 resistance zone, it could start a downside correction. An immediate support on the downside is near the $20,200 zone.<\/p>\n<p>The next major support is near the $20,100 zone and the trend line. A downside break below the trend line might send the price towards $19,750. The main support is near $19,500, below which the price might start a steady decline.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $20,200, followed by $20,000.<\/p>\n<p>Major Resistance Levels \u2013 $20,500, $21,200 and $22,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is showing positive signs above $20,000 against the US Dollar. BTC could start a strong surge if it clears the $20,500 resistance. Bitcoin is gaining pace above the $19,800 and $20,000 resistance levels. The price is trading above $20,100 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $20,150 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could gain bullish momentum if there is a clear move above the $20,500 resistance. Bitcoin Price Remains Supported Bitcoin price attempted an upside break above the $20,500 resistance zone. However, BTC struggled near the $20,450 zone and started a downside correction. There was a move below the $20,000 support zone, but the price remained supported well above the 100 hourly simple moving average. It traded as low as $19,754 and recently started a fresh increase. There was a clear move above the $20,000 and $20,200 resistance levels. Bitcoin price climbed above the 50% Fib retracement level of the recent decline from the $20,475 swing high to $19,754 low. It is now trading above $20,100 and the 100 hourly simple moving average. Besides, there is also a key bullish trend line forming with support near $20,150 on the hourly chart of the BTC\/USD pair. It also cleared the 76.4% Fib retracement level of the recent decline from the $20,475 swing high to $19,754 low. On the upside, an immediate resistance is near the $20,450 level. The next major resistance sits near the $20,500 zone. Source: BTCUSD on TradingView.com A proper close above the $20,500 resistance might start another increase. In the stated case, the price could even surpass the $21,000 resistance zone. In the stated case, the bulls might aim a move towards the $22,000 level. Dips Supported in BTC? If bitcoin fails to rise above the $20,450 resistance zone, it could start a downside correction. An immediate support on the downside is near the $20,200 zone. The next major support is near the $20,100 zone and the trend line. A downside break below the trend line might send the price towards $19,750. The main support is near $19,500, below which the price might start a steady decline. 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 $20,200, followed by $20,000. Major Resistance Levels \u2013 $20,500, $21,200 and $22,000.<\/p>\n","protected":false},"author":67,"featured_media":459898,"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-505096","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<title>TA: Bitcoin Price Breaking This Confluence Resistance Could Spark Strong Surge<\/title>\n<meta name=\"description\" content=\"Bitcoin price is showing positive signs above $20,000 against the US Dollar. 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