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{"id":518987,"date":"2023-02-08T03:07:05","date_gmt":"2023-02-08T03:07:05","guid":{"rendered":"https:\/\/wncen.com\/?p=518987"},"modified":"2024-06-11T14:32:17","modified_gmt":"2024-06-11T14:32:17","slug":"bitcoin-price-recovers-23k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-recovers-23k\/","title":{"rendered":"Bitcoin Price Recovers Ground But This Resistance Is The Key For Upside"},"content":{"rendered":"

Bitcoin price is rising and trading above $23,000. BTC could gain bullish momentum if there is a clear move above the $23,500 resistance zone.<\/em><\/p>\n

\n
Bitcoin is correcting losses and trading above the $23,000 support zone.<\/li>\n
The price is trading above $23,000 and the 100 hourly simple moving average.<\/li>\n
There was a break above a crucial bearish trend line with resistance near $23,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could rise further and move into a bullish zone if it clears the $23,500 resistance.<\/li>\n<\/ul>\n
Bitcoin Price Forms Decent Support<\/h2>\n
Bitcoin price remained well bid above the $22,500 support<\/a>. A base was formed above $22,500 and BTC started a decent recovery wave. There was a clear move above the $22,800 and $23,000 resistance levels.<\/p>\n
There was also a break above a crucial bearish trend line with resistance near $23,000 on the hourly chart of the BTC\/USD pair. The pair climbed above the 23.6% Fib retracement level of the key decline from the $24,282 swing high to $22,599 low.<\/p>\n
Bitcoin price is trading above $23,000 and the 100 hourly simple moving average<\/a>. An immediate resistance is near the $23,450 zone. It is near the 50% Fib retracement level of the key decline from the $24,282 swing high to $22,599 low.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/p>\n
The next major resistance is near the $23,500 zone. A clear move above the $23,500 resistance might start a steady increase. In the stated case, the price may perhaps jump towards the $24,000 level. The next resistance could be near the $24,250 level, above which btc price might rise towards the $25,000 resistance zone.<\/p>\n
Dips Supported in BTC?<\/h2>\n
If bitcoin price fails to clear the $23,500 resistance, it could start another downside correction. An immediate support on the downside is near the $23,000 zone and the 100 hourly simple moving average.<\/p>\n
The next major support is near the $22,800 zone. A downside break below the $22,800 zone might send the price towards the $22,600 zone. Any more losses might call for a test of the $22,500 support in the near term.<\/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 $23,000, followed by $22,800.<\/p>\n
Major Resistance Levels \u2013 $23,450, $23,500 and $24,000.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price is rising and trading above $23,000. BTC could gain bullish momentum if there is a clear move above the $23,500 resistance zone. Bitcoin is correcting losses and trading above the $23,000 support zone. The price is trading above $23,000 and the 100 hourly simple moving average. There was a break above a crucial bearish trend line with resistance near $23,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could rise further and move into a bullish zone if it clears the $23,500 resistance. Bitcoin Price Forms Decent Support Bitcoin price remained well bid above the $22,500 support. A base was formed above $22,500 and BTC started a decent recovery wave. There was a clear move above the $22,800 and $23,000 resistance levels. There was also a break above a crucial bearish trend line with resistance near $23,000 on the hourly chart of the BTC\/USD pair. The pair climbed above the 23.6% Fib retracement level of the key decline from the $24,282 swing high to $22,599 low. Bitcoin price is trading above $23,000 and the 100 hourly simple moving average. An immediate resistance is near the $23,450 zone. It is near the 50% Fib retracement level of the key decline from the $24,282 swing high to $22,599 low. Source: BTCUSD on TradingView.com The next major resistance is near the $23,500 zone. A clear move above the $23,500 resistance might start a steady increase. In the stated case, the price may perhaps jump towards the $24,000 level. The next resistance could be near the $24,250 level, above which btc price might rise towards the $25,000 resistance zone. Dips Supported in BTC? If bitcoin price fails to clear the $23,500 resistance, it could start another downside correction. An immediate support on the downside is near the $23,000 zone and the 100 hourly simple moving average. The next major support is near the $22,800 zone. A downside break below the $22,800 zone might send the price towards the $22,600 zone. Any more losses might call for a test of the $22,500 support in the near term. 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 $23,000, followed by $22,800. Major Resistance Levels \u2013 $23,450, $23,500 and $24,000.<\/p>\n","protected":false},"author":67,"featured_media":464343,"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-518987","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":"\nBitcoin Price Recovers Ground But This Resistance Is The Key For Upside<\/title>\n<meta name=\"description\" content=\"Bitcoin price is rising and trading above $23,000. 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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 Price Recovers Ground But This Resistance Is The Key For Upside","url":"http:\/\/wncen.com\/news\/bitcoin-price-recovers-23k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-price-recovers-23k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/shutterstock_764448946.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/shutterstock_764448946.jpg?fit=1000%2C577"},"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":"2023-02-08T03:07:05Z","datePublished":"2023-02-08T03:07:05Z","dateModified":"2024-06-11T14:32:17Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Recovers Ground But This Resistance Is The Key For Upside\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-recovers-23k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-recovers-23k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_764448946.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_764448946.jpg?fit=1000%2C577\"},\"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\":\"2023-02-08T03:07:05Z\",\"datePublished\":\"2023-02-08T03:07:05Z\",\"dateModified\":\"2024-06-11T14:32:17Z\"}<\/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_764448946.jpg?fit=1000%2C577","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/518987"}],"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=518987"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/518987\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/464343"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=518987"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=518987"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=518987"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}