{"id":493913,"date":"2022-06-23T03:08:17","date_gmt":"2022-06-23T03:08:17","guid":{"rendered":"https:\/\/wncen.com\/?p=493913"},"modified":"2024-06-11T14:20:58","modified_gmt":"2024-06-11T14:20:58","slug":"bitcoin-could-restart-increase-21k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-could-restart-increase-21k\/","title":{"rendered":"TA: Bitcoin Could Restart Increase If The Bulls Clear This Resistance"},"content":{"rendered":"
Bitcoin is consolidating above the $20,000 zone against the US Dollar. BTC must clear the $20,800 resistance to restart increase in the near term.<\/em><\/p>\n Bitcoin price failed to gain pace above $21,700 and corrected gains<\/a>. There was a downside correction below the $21,000 support zone.<\/p>\n The price declined below the 23.6% Fib retracement level of the upward move from the $17,600 swing low to $21,700 swing high. The bears even pushed the price below the $20,500 support zone and the 100 hourly simple moving average.<\/p>\n However, the bulls were active above the $19,650 and $19,800 support levels. Bitcoin also stayed above the 50% Fib retracement level of the upward move from the $17,600 swing low to $21,700 swing high.<\/p>\n It is now above the $20,000 level and the 100 hourly simple moving average<\/a>. An immediate resistance on the upside is near the $20,550 level. There is also a key bearish trend line forming with resistance near $20,550 on the hourly chart of the BTC\/USD pair.<\/p>\n <\/a><\/p>\n The first major resistance is near the $20,800 level. A clear move above the $20,800 level might start a decent increase. The next major resistance sits near the $21,220 level, above which the bulls might gain strength for a steady increase.<\/p>\n If bitcoin fails to clear the $20,800 resistance zone, it could start another decline. An immediate support on the downside is near the $20,200 level and the 100 hourly SMA.<\/p>\n The first major support is near the $20,000 level. The main support is now near the $19,650 level. A downside break below the $19,650 support could restart decline in the near term. In the stated case, the price might slide towards the $18,800 level.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is now gaining 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 $20,000, followed by $19,650.<\/p>\n Major Resistance Levels \u2013 $20,800, $21,220 and $21,700.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin is consolidating above the $20,000 zone against the US Dollar. BTC must clear the $20,800 resistance to restart increase in the near term. Bitcoin corrected gains and tested the $19,800 support zone. The price is now above the $20,000 level and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $20,550 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could gain bullish momentum if it clears the $20,550 and $20,800 resistance levels. Bitcoin Price Faces Resistance Bitcoin price failed to gain pace above $21,700 and corrected gains. There was a downside correction below the $21,000 support zone. The price declined below the 23.6% Fib retracement level of the upward move from the $17,600 swing low to $21,700 swing high. The bears even pushed the price below the $20,500 support zone and the 100 hourly simple moving average. However, the bulls were active above the $19,650 and $19,800 support levels. Bitcoin also stayed above the 50% Fib retracement level of the upward move from the $17,600 swing low to $21,700 swing high. It is now above the $20,000 level and the 100 hourly simple moving average. An immediate resistance on the upside is near the $20,550 level. There is also a key bearish trend line forming with resistance near $20,550 on the hourly chart of the BTC\/USD pair. Source: BTCUSD on TradingView.com The first major resistance is near the $20,800 level. A clear move above the $20,800 level might start a decent increase. The next major resistance sits near the $21,220 level, above which the bulls might gain strength for a steady increase. More Losses in BTC? If bitcoin fails to clear the $20,800 resistance zone, it could start another decline. An immediate support on the downside is near the $20,200 level and the 100 hourly SMA. The first major support is near the $20,000 level. The main support is now near the $19,650 level. A downside break below the $19,650 support could restart decline in the near term. In the stated case, the price might slide towards the $18,800 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 $20,000, followed by $19,650. Major Resistance Levels \u2013 $20,800, $21,220 and $21,700.<\/p>\n","protected":false},"author":67,"featured_media":460236,"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-493913","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\n
Bitcoin Price Faces Resistance<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
More Losses in BTC?<\/h2>\n