{"id":493997,"date":"2022-06-24T03:08:02","date_gmt":"2022-06-24T03:08:02","guid":{"rendered":"https:\/\/wncen.com\/?p=493997"},"modified":"2024-06-11T12:46:49","modified_gmt":"2024-06-11T12:46:49","slug":"bitcoin-price-eyes-upside-break-23k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-eyes-upside-break-23k\/","title":{"rendered":"TA: Bitcoin Price Eyes Upside Break, Why BTC Could Surge to $23K"},"content":{"rendered":"
Bitcoin is showing positive signs above the $20,500 zone against the US Dollar. BTC could rally if there is a clear move above the $21,250 resistance zone.<\/em><\/p>\n Bitcoin price started a downside correction<\/a> below the $20,500 level. There was also a move below the $20,000 level, but the price was stable near the $19,750 zone.<\/p>\n A low was formed near $19,750 and the price started fresh. BTC was able to clear the $20,000 and $20,500 resistance levels. Besides, there was a break above a major bearish trend line with resistance near $20,450 on the hourly chart of the BTC\/USD pair.<\/p>\n The pair climbed above the 50% Fib retracement level of the downward move from the $21,698 swing high to $19,750 low. Bitcoin is now above the $20,500 level and the 100 hourly simple moving average<\/a>.<\/p>\n An immediate resistance on the upside is near the $21,250 level. It is near the 76.4% Fib retracement level of the downward move from the $21,698 swing high to $19,750 low. The next key resistance is near the $21,650 level. A clear move above the $21,650 level might start a decent increase.<\/p>\n <\/a><\/p>\n The next major resistance sits near the $22,200 level, above which the bulls might gain strength for a move towards the $23,000 resistance zone.<\/p>\n If bitcoin fails to clear the $21,250 resistance zone, it could start another decline. An immediate support on the downside is near the $20,600 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 $19,750 level. A downside break below the $19,750 support could put a lot of pressure on the bulls in the near term. In the stated case, the price might slide towards the $18,500 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 $20,600, followed by $20,000.<\/p>\n Major Resistance Levels \u2013 $21,250, $21,650 and $23,000.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin is showing positive signs above the $20,500 zone against the US Dollar. BTC could rally if there is a clear move above the $21,250 resistance zone. Bitcoin remains well supported above the $20,000 and $20,500 levels. The price is now above the $20,500 level and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $20,450 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could gain bullish momentum if it clears the $21,250 and $21,650 resistance levels. Bitcoin Price Could Gain Pace Bitcoin price started a downside correction below the $20,500 level. There was also a move below the $20,000 level, but the price was stable near the $19,750 zone. A low was formed near $19,750 and the price started fresh. BTC was able to clear the $20,000 and $20,500 resistance levels. Besides, there was a break above a major bearish trend line with resistance near $20,450 on the hourly chart of the BTC\/USD pair. The pair climbed above the 50% Fib retracement level of the downward move from the $21,698 swing high to $19,750 low. Bitcoin is now above the $20,500 level and the 100 hourly simple moving average. An immediate resistance on the upside is near the $21,250 level. It is near the 76.4% Fib retracement level of the downward move from the $21,698 swing high to $19,750 low. The next key resistance is near the $21,650 level. A clear move above the $21,650 level might start a decent increase. Source: BTCUSD on TradingView.com The next major resistance sits near the $22,200 level, above which the bulls might gain strength for a move towards the $23,000 resistance zone. Fresh Decline in BTC? If bitcoin fails to clear the $21,250 resistance zone, it could start another decline. An immediate support on the downside is near the $20,600 level and the 100 hourly SMA. The first major support is near the $20,000 level. The main support is now near the $19,750 level. A downside break below the $19,750 support could put a lot of pressure on the bulls in the near term. In the stated case, the price might slide towards the $18,500 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 $20,600, followed by $20,000. Major Resistance Levels \u2013 $21,250, $21,650 and $23,000.<\/p>\n","protected":false},"author":67,"featured_media":458753,"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-493997","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 Could Gain Pace<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Fresh Decline in BTC?<\/h2>\n