{"id":447206,"date":"2020-10-21T03:28:26","date_gmt":"2020-10-21T03:28:26","guid":{"rendered":"https:\/\/wncen.com\/?p=447206"},"modified":"2024-06-11T14:07:21","modified_gmt":"2024-06-11T14:07:21","slug":"bitcoin-smashes-heavy-resistance","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-smashes-heavy-resistance\/","title":{"rendered":"TA: Bitcoin Smashes Heavy Resistance at $12K And Its Likely To Continue Higher"},"content":{"rendered":"<p><em>Bitcoin price is up over 2% and it broke the $11,800 and $12,000 resistance levels against the US Dollar. BTC is now trading above $12,000, with high chances of more upsides.<\/em><\/p>\n<ul>\n<li>Bitcoin remained in a positive zone and it cleared the $11,800 and $12,000 resistance levels.<\/li>\n<li>The price is currently testing the $12,150 zone and it is well above the 100 hourly simple moving average.<\/li>\n<li>There is a major bullish trend line forming with support near $11,980 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair is likely to accelerate higher above $12,100 and $12,200 in the near term.<\/li>\n<\/ul>\n<h2>Bitcoin Price is Gaining Momentum<\/h2>\n<p>Bitcoin price gained bullish momentum after a successful close above the $11,560 resistance. <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-more-upsides-above-12k-likely\/\" target=\"_blank\" rel=\"noopener \">BTC even broke the $11,800 resistance<\/a> and settled well above the 100 hourly simple moving average.<\/p>\n<p>As a result, the bulls gained strength and they were able to push the price above the $12,000 resistance. A new weekly high is formed near $12,160 and the price is currently showing a lot of <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-hesitates-below-11550\/\" target=\"_blank\" rel=\"noopener \">positive signs<\/a>.<\/p>\n<p>An initial support for bitcoin is near the $12,050 level. It is close to the 23.6% Fib retracement level of the recent rise from the $11,870 low to $12,158 high. There is also a major bullish trend line forming with support near $11,980 on the hourly chart of the BTC\/USD pair.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/Bitcoin-17.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"1828\" height=\"868\" class=\"alignnone size-full wp-image-447207\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/Bitcoin-17.png?resize=1828%2C868\" alt=\"Bitcoin Price\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/Bitcoin-17.png?w=1828 1828w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/Bitcoin-17.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/Bitcoin-17.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/Bitcoin-17.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/Bitcoin-17.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/Bitcoin-17.png?w=130 130w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/Bitcoin-17.png?w=104 104w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/Bitcoin-17.png?w=83 83w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/Bitcoin-17.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/Bitcoin-17.png?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<pre>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/pre>\n<p>The trend line is close to the 50% Fib retracement level of the recent rise from the $11,870 low to $12,072 high. On the upside, the $12,075 and $12,100 levels are initial barriers for the bulls.<\/p>\n<p>The first major resistance is near the $12,200 level. A successful close above the $12,200 level could open the doors for a decent increase towards the $12,500 resistance level.<\/p>\n<h2>Downside Correction in BTC?<\/h2>\n<p>If bitcoin starts a downside correction, it is likely to find bids near the $12,050 and $12,000 levels. If there is a downside break below the trend line support and a close below $12,000, there could be an extended downside correction.<\/p>\n<p>The next major support is near the $11,880 level, followed by the key $11,800 support level (the recent breakout zone).<\/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 well above the 65 level, with a positive angle.<\/p>\n<p>Major Support Levels \u2013 $12,050, followed by $12,000.<\/p>\n<p>Major Resistance Levels \u2013 $12,150, $11,200 and $12,500.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is up over 2% and it broke the $11,800 and $12,000 resistance levels against the US Dollar. BTC is now trading above $12,000, with high chances of more upsides. Bitcoin remained in a positive zone and it cleared the $11,800 and $12,000 resistance levels. The price is currently testing the $12,150 zone and it is well above the 100 hourly simple moving average. There is a major bullish trend line forming with support near $11,980 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is likely to accelerate higher above $12,100 and $12,200 in the near term. Bitcoin Price is Gaining Momentum Bitcoin price gained bullish momentum after a successful close above the $11,560 resistance. BTC even broke the $11,800 resistance and settled well above the 100 hourly simple moving average. As a result, the bulls gained strength and they were able to push the price above the $12,000 resistance. A new weekly high is formed near $12,160 and the price is currently showing a lot of positive signs. An initial support for bitcoin is near the $12,050 level. It is close to the 23.6% Fib retracement level of the recent rise from the $11,870 low to $12,158 high. There is also a major bullish trend line forming with support near $11,980 on the hourly chart of the BTC\/USD pair. Source: BTCUSD on TradingView.com The trend line is close to the 50% Fib retracement level of the recent rise from the $11,870 low to $12,072 high. On the upside, the $12,075 and $12,100 levels are initial barriers for the bulls. The first major resistance is near the $12,200 level. A successful close above the $12,200 level could open the doors for a decent increase towards the $12,500 resistance level. Downside Correction in BTC? If bitcoin starts a downside correction, it is likely to find bids near the $12,050 and $12,000 levels. If there is a downside break below the trend line support and a close below $12,000, there could be an extended downside correction. The next major support is near the $11,880 level, followed by the key $11,800 support level (the recent breakout zone). 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 well above the 65 level, with a positive angle. Major Support Levels \u2013 $12,050, followed by $12,000. Major Resistance Levels \u2013 $12,150, $11,200 and $12,500.<\/p>\n","protected":false},"author":67,"featured_media":447208,"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-447206","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 Smashes Heavy Resistance at $12K And Its Likely To Continue Higher<\/title>\n<meta name=\"description\" content=\"Bitcoin price is up over 2% and it broke $11,800 and $12,000. 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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":"TA: Bitcoin Smashes Heavy Resistance at $12K And Its Likely To Continue Higher","url":"http:\/\/wncen.com\/news\/bitcoin-smashes-heavy-resistance\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-smashes-heavy-resistance\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/shutterstock_309774656-1.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/shutterstock_309774656-1.jpg?fit=1000%2C677"},"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","btcusd","btcusdt","xbtusd"],"dateCreated":"2020-10-21T03:28:26Z","datePublished":"2020-10-21T03:28:26Z","dateModified":"2024-06-11T14:07:21Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Bitcoin Smashes Heavy Resistance at $12K And Its Likely To Continue Higher\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-smashes-heavy-resistance\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-smashes-heavy-resistance\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/10\\\/shutterstock_309774656-1.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/10\\\/shutterstock_309774656-1.jpg?fit=1000%2C677\"},\"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\",\"btcusd\",\"btcusdt\",\"xbtusd\"],\"dateCreated\":\"2020-10-21T03:28:26Z\",\"datePublished\":\"2020-10-21T03:28:26Z\",\"dateModified\":\"2024-06-11T14:07:21Z\"}<\/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\/2020\/10\/shutterstock_309774656-1.jpg?fit=1000%2C677","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/447206","targetHints":{"allow":["GET"]}}],"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=447206"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/447206\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/447208"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=447206"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=447206"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=447206"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}