{"id":520654,"date":"2023-02-23T03:15:20","date_gmt":"2023-02-23T03:15:20","guid":{"rendered":"https:\/\/wncen.com\/?p=520654"},"modified":"2024-06-11T11:20:23","modified_gmt":"2024-06-11T11:20:23","slug":"bitcoin-price-inflection-zone-24-5k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-inflection-zone-24-5k\/","title":{"rendered":"Bitcoin Price Reaches Inflection Zone and 100 SMA Is The Key"},"content":{"rendered":"<p><em>Bitcoin price tested the $23,600 zone and started a decent increase. BTC must clear the $24,500 resistance and the 100 hourly SMA to move into a positive zone.<\/em><\/p>\n<ul>\n<li>Bitcoin is slowly moving higher above the $24,000 resistance zone.<\/li>\n<li>The price is trading below $24,500 and the 100 hourly simple moving average.<\/li>\n<li>There was a break above a key bearish trend line with resistance near $24,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could gain bullish momentum if it clears the 100 hourly SMA and $24,500.<\/li>\n<\/ul>\n<h2>Bitcoin Price Holds Ground<\/h2>\n<p>Bitcoin price started a <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-fails-again-25k\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">downside correction<\/a> from the $25,200 resistance zone. There was a steady decline below the $24,500 support zone and the 100 hourly simple moving average.<\/p>\n<p>The price even spiked below the $24,000 support zone. A low was formed near $23,600 and the price recently started a fresh increase. There was a move above the $23,800 and $24,000 levels. The price climbed above the 23.6% Fib retracement level of the downward move from the $25,250 swing high to $23,600 low.<\/p>\n<p>Besides, there was a break above a key bearish trend line with resistance near $24,000 on the hourly chart of the BTC\/USD pair. However, bitcoin price is trading below $24,500 and the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-could-skyrocket-25k\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>.<\/p>\n<p>On the upside, an immediate resistance is near the $24,500 level. The next major resistance is near the $24,600 zone or 61.8% Fib retracement level of the downward move from the $25,250 swing high to $23,600 low. A clear move above the $24,600 resistance might send the price towards the key $25,000 resistance zone.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Bitcoin-16.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-520655\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Bitcoin-16.png?resize=1834%2C845\" alt=\"Bitcoin Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Bitcoin-16.png?w=1834 1834w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Bitcoin-16.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Bitcoin-16.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Bitcoin-16.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Bitcoin-16.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Bitcoin-16.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Bitcoin-16.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 close above the $25,000 resistance could set the stage for a fresh rally. In the stated case, the price may perhaps rise towards the $26,200 level.<\/p>\n<h2>Another Decline in BTC?<\/h2>\n<p>If bitcoin price fails to clear the $24,600 resistance, it could start another decline. An immediate support on the downside is near the $24,000 zone.<\/p>\n<p>The next major support is near the $23,600 zone. If there is a downside break, the price might decline towards $22,200. The next major support is near the $22,000 level.<\/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 $24,000, followed by $23,600.<\/p>\n<p>Major Resistance Levels \u2013 $24,500, $24,600 and $25,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price tested the $23,600 zone and started a decent increase. BTC must clear the $24,500 resistance and the 100 hourly SMA to move into a positive zone. Bitcoin is slowly moving higher above the $24,000 resistance zone. The price is trading below $24,500 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $24,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could gain bullish momentum if it clears the 100 hourly SMA and $24,500. Bitcoin Price Holds Ground Bitcoin price started a downside correction from the $25,200 resistance zone. There was a steady decline below the $24,500 support zone and the 100 hourly simple moving average. The price even spiked below the $24,000 support zone. A low was formed near $23,600 and the price recently started a fresh increase. There was a move above the $23,800 and $24,000 levels. The price climbed above the 23.6% Fib retracement level of the downward move from the $25,250 swing high to $23,600 low. Besides, there was a break above a key bearish trend line with resistance near $24,000 on the hourly chart of the BTC\/USD pair. However, bitcoin price is trading below $24,500 and the 100 hourly simple moving average. On the upside, an immediate resistance is near the $24,500 level. The next major resistance is near the $24,600 zone or 61.8% Fib retracement level of the downward move from the $25,250 swing high to $23,600 low. A clear move above the $24,600 resistance might send the price towards the key $25,000 resistance zone. Source: BTCUSD on TradingView.com A close above the $25,000 resistance could set the stage for a fresh rally. In the stated case, the price may perhaps rise towards the $26,200 level. Another Decline in BTC? If bitcoin price fails to clear the $24,600 resistance, it could start another decline. An immediate support on the downside is near the $24,000 zone. The next major support is near the $23,600 zone. If there is a downside break, the price might decline towards $22,200. The next major support is near the $22,000 level. 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 $24,000, followed by $23,600. Major Resistance Levels \u2013 $24,500, $24,600 and $25,000.<\/p>\n","protected":false},"author":67,"featured_media":464001,"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-520654","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 Price Reaches Inflection Zone and 100 SMA Is The Key<\/title>\n<meta name=\"description\" content=\"Bitcoin price tested the $23,600 zone and started a decent increase. 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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 Price Reaches Inflection Zone and 100 SMA Is The Key","url":"http:\/\/wncen.com\/news\/bitcoin-price-inflection-zone-24-5k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-price-inflection-zone-24-5k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/shutterstock_1402375832-1.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/shutterstock_1402375832-1.jpg?fit=1000%2C667"},"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":"2023-02-23T03:15:20Z","datePublished":"2023-02-23T03:15:20Z","dateModified":"2024-06-11T11:20:23Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Reaches Inflection Zone and 100 SMA Is The Key\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-inflection-zone-24-5k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-inflection-zone-24-5k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_1402375832-1.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_1402375832-1.jpg?fit=1000%2C667\"},\"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\":\"2023-02-23T03:15:20Z\",\"datePublished\":\"2023-02-23T03:15:20Z\",\"dateModified\":\"2024-06-11T11:20:23Z\"}<\/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_1402375832-1.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/520654"}],"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=520654"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/520654\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/464001"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=520654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=520654"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=520654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}