{"id":517076,"date":"2023-01-22T22:24:38","date_gmt":"2023-01-23T03:24:38","guid":{"rendered":"https:\/\/wncen.com\/?p=517076"},"modified":"2024-06-11T11:30:52","modified_gmt":"2024-06-11T11:30:52","slug":"bitcoin-bulls-keeps-pushing-24k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-bulls-keeps-pushing-24k\/","title":{"rendered":"Bitcoin Bulls Keeps Pushing, Why BTC Price Increase Isn\u2019t Over Yet"},"content":{"rendered":"<p><em>Bitcoin price gained pace and traded above $23,000. BTC is consolidating gains and might start another increase towards $23,500.<\/em><\/p>\n<ul>\n<li>Bitcoin traded to a new yearly high at $23,428 before it started a downside correction.<\/li>\n<li>The price is trading above $22,000 and the 100 hourly simple moving average.<\/li>\n<li>There is a major bullish trend line forming with support near $22,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could start a fresh increase if it stays above the $22,000 support zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Eyes Additional Gains<\/h2>\n<p>Bitcoin price started a major increase above the $21,500 resistance zone. BTC gained pace and even broke the $22,000 resistance zone, similar to <a href=\"https:\/\/wncen.com\/analysis\/eth\/ethereum-price-dips-1600\/\" target=\"_blank\" rel=\"noopener \">ethereum<\/a> at $1,550.<\/p>\n<p>The price surged above the $22,500 level and settled well above the 100 hourly simple moving average. It traded to a new yearly high at $23,428 and recently started a minor downside correction. There was a minor move below the $23,000 level.<\/p>\n<p>Bitcoin price declined below the 23.6% Fib retracement level of the upward move from the $20,395 swing low to $24,248 high. However, the price is still trading above $22,000 and the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-fresh-increase-21-5k\/\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>.<\/p>\n<p>There is also a major bullish trend line forming with support near $22,000 on the hourly chart of the BTC\/USD pair. An immediate resistance is near the $23,000 level. The next major resistance is near the $23,200 zone, above which the price might gain bullish momentum.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/Bitcoin-19.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-517077\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/Bitcoin-19.png?resize=1834%2C845\" alt=\"Bitcoin Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/Bitcoin-19.png?w=1834 1834w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/Bitcoin-19.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/Bitcoin-19.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/Bitcoin-19.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/Bitcoin-19.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/Bitcoin-19.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/Bitcoin-19.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=\"nofollow noopener\">BTCUSD on TradingView.com<\/a><\/p>\n<p>In the stated case, the price may perhaps rise towards the $23,500 level. Any more gains might send btc price towards the $24,500 level.<\/p>\n<h2>Downside Correction in BTC?<\/h2>\n<p>If bitcoin price fails to clear the $23,000 resistance, it could continue to move down. An immediate support on the downside is near the $22,400 zone.<\/p>\n<p>The next major support is near the $22,000 zone and the trend line. It is close to the 50% Fib retracement level of the upward move from the $20,395 swing low to $24,248 high, below which the price might gain bearish momentum and test $21,200. Any more losses might send the price to $20,500 in the near term.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now losing pace in the bearish 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 $22,400, followed by $22,000.<\/p>\n<p>Major Resistance Levels \u2013 $23,000, $23,200 and $23,500.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price gained pace and traded above $23,000. BTC is consolidating gains and might start another increase towards $23,500. Bitcoin traded to a new yearly high at $23,428 before it started a downside correction. The price is trading above $22,000 and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $22,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start a fresh increase if it stays above the $22,000 support zone. Bitcoin Price Eyes Additional Gains Bitcoin price started a major increase above the $21,500 resistance zone. BTC gained pace and even broke the $22,000 resistance zone, similar to ethereum at $1,550. The price surged above the $22,500 level and settled well above the 100 hourly simple moving average. It traded to a new yearly high at $23,428 and recently started a minor downside correction. There was a minor move below the $23,000 level. Bitcoin price declined below the 23.6% Fib retracement level of the upward move from the $20,395 swing low to $24,248 high. However, the price is still trading above $22,000 and the 100 hourly simple moving average. There is also a major bullish trend line forming with support near $22,000 on the hourly chart of the BTC\/USD pair. An immediate resistance is near the $23,000 level. The next major resistance is near the $23,200 zone, above which the price might gain bullish momentum. Source: BTCUSD on TradingView.com In the stated case, the price may perhaps rise towards the $23,500 level. Any more gains might send btc price towards the $24,500 level. Downside Correction in BTC? If bitcoin price fails to clear the $23,000 resistance, it could continue to move down. An immediate support on the downside is near the $22,400 zone. The next major support is near the $22,000 zone and the trend line. It is close to the 50% Fib retracement level of the upward move from the $20,395 swing low to $24,248 high, below which the price might gain bearish momentum and test $21,200. Any more losses might send the price to $20,500 in the near term. Technical indicators: Hourly MACD \u2013 The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level. Major Support Levels \u2013 $22,400, followed by $22,000. Major Resistance Levels \u2013 $23,000, $23,200 and $23,500.<\/p>\n","protected":false},"author":67,"featured_media":463431,"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":[428,679,1144,78790,76835],"class_list":["post-517076","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n<title>Bitcoin Bulls Keeps Pushing, Why BTC Price Increase Isn\u2019t Over Yet<\/title>\n<meta name=\"description\" content=\"Bitcoin price gained pace and traded above $23,000. BTC is consolidating gains and might start another increase towards $23,500. 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Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation. As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.","sameAs":["https:\/\/www.linkedin.com\/in\/aayush-jindal-358b6932\/","https:\/\/x.com\/twitter.com\/AayushJs"],"url":"https:\/\/wncen.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Bulls Keeps Pushing, Why BTC Price Increase Isn\u2019t Over Yet","url":"http:\/\/wncen.com\/news\/bitcoin-bulls-keeps-pushing-24k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-bulls-keeps-pushing-24k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/shutterstock_1182580207.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/shutterstock_1182580207.jpg?fit=1000%2C563"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin price","btcusd","btcusdt","xbtusd"],"dateCreated":"2023-01-23T03:24:38Z","datePublished":"2023-01-23T03:24:38Z","dateModified":"2024-06-11T11:30:52Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Bulls Keeps Pushing, Why BTC Price Increase Isn\\u2019t Over Yet\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-bulls-keeps-pushing-24k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-bulls-keeps-pushing-24k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_1182580207.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_1182580207.jpg?fit=1000%2C563\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin price\",\"btcusd\",\"btcusdt\",\"xbtusd\"],\"dateCreated\":\"2023-01-23T03:24:38Z\",\"datePublished\":\"2023-01-23T03:24:38Z\",\"dateModified\":\"2024-06-11T11:30:52Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/shutterstock_1182580207.jpg?fit=1000%2C563","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/517076"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=517076"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/517076\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/463431"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=517076"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=517076"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=517076"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}