{"id":494198,"date":"2022-06-27T03:28:19","date_gmt":"2022-06-27T03:28:19","guid":{"rendered":"https:\/\/wncen.com\/?p=494198"},"modified":"2024-06-11T14:21:04","modified_gmt":"2024-06-11T14:21:04","slug":"ta-bitcoin-dips-could-be-limited-why-100-sma-is-the-key","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ta-bitcoin-dips-could-be-limited-why-100-sma-is-the-key\/","title":{"rendered":"TA: Bitcoin Dips Could Be Limited, Why 100 SMA Is The Key"},"content":{"rendered":"<p><em>Bitcoin is showing positive signs above the $21,000 zone against the US Dollar. BTC might start a fresh increase and could even clear the $21,750 resistance zone.<\/em><\/p>\n<ul>\n<li>Bitcoin remains well supported above the $21,000 and $20,500 levels.<\/li>\n<li>The price is now above the $20,800 level and the 100 hourly simple moving average.<\/li>\n<li>There was a break below a key bullish trend line with support near $21,300 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could gain bullish momentum if it stays above $20,500 and the 100 hourly SMA.<\/li>\n<\/ul>\n<h2>Bitcoin Price Remains Supported<\/h2>\n<p>Bitcoin price started a <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-eyes-upside-break-23k\/\" target=\"_blank\" rel=\"noopener \">decent increase<\/a> above the $20,000 resistance zone. The price was able to clear the $20,500 level to move into a positive zone.<\/p>\n<p>There was a steady move above the $21,000 level and the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-could-restart-increase-21k\/\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>. However, the bears were again active near the $21,700 and $21,750 levels. A high was formed near $21,780 and the price started a downside correction.<\/p>\n<p>Bitcoin traded below the $21,500 level. There was a break below the 23.6% Fib retracement level of the upward move from the $19,750 swing low to $21,780 high.<\/p>\n<p>Besides, there was a break below a key bullish trend line with support near $21,300 on the hourly chart of the BTC\/USD pair. It is now consolidating above the $21,000 level and the 100 hourly simple moving average. An immediate resistance on the upside is near the $21,250 level.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/06\/Bitcoin-24.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-494199 size-full\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/06\/Bitcoin-24.png?resize=1834%2C845\" alt=\"Bitcoin Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/06\/Bitcoin-24.png?w=1834 1834w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/06\/Bitcoin-24.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/06\/Bitcoin-24.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/06\/Bitcoin-24.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/06\/Bitcoin-24.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/06\/Bitcoin-24.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/06\/Bitcoin-24.png?w=1140 1140w\" sizes=\"(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 next key resistance is near the $21,750 level. A clear move above the $21,750 level might start a decent increase. In the stated case, the price could rise above the $22,200 level. Any more gains could send the price towards the $23,000 resistance zone.<\/p>\n<h2>Fresh Decline in BTC?<\/h2>\n<p>If bitcoin fails to clear the $21,750 resistance zone, it could start another decline. An immediate support on the downside is near the $21,000 level and the 100 hourly SMA.<\/p>\n<p>The first major support is near the $20,750 level. It is near the 50% Fib retracement level of the upward move from the $19,750 swing low to $21,780 high. A downside break below the $20,750 support could put a lot of pressure on the bulls in the near term. In the stated case, the price might slide towards the $20,000 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 just below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $21,000, followed by $20,750.<\/p>\n<p>Major Resistance Levels \u2013 $21,250, $21,750 and $23,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin is showing positive signs above the $21,000 zone against the US Dollar. BTC might start a fresh increase and could even clear the $21,750 resistance zone. Bitcoin remains well supported above the $21,000 and $20,500 levels. The price is now above the $20,800 level and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $21,300 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could gain bullish momentum if it stays above $20,500 and the 100 hourly SMA. Bitcoin Price Remains Supported Bitcoin price started a decent increase above the $20,000 resistance zone. The price was able to clear the $20,500 level to move into a positive zone. There was a steady move above the $21,000 level and the 100 hourly simple moving average. However, the bears were again active near the $21,700 and $21,750 levels. A high was formed near $21,780 and the price started a downside correction. Bitcoin traded below the $21,500 level. There was a break below the 23.6% Fib retracement level of the upward move from the $19,750 swing low to $21,780 high. Besides, there was a break below a key bullish trend line with support near $21,300 on the hourly chart of the BTC\/USD pair. It is now consolidating above the $21,000 level and the 100 hourly simple moving average. An immediate resistance on the upside is near the $21,250 level. Source: BTCUSD on TradingView.com The next key resistance is near the $21,750 level. A clear move above the $21,750 level might start a decent increase. In the stated case, the price could rise above the $22,200 level. Any more gains could send the price towards the $23,000 resistance zone. Fresh Decline in BTC? If bitcoin fails to clear the $21,750 resistance zone, it could start another decline. An immediate support on the downside is near the $21,000 level and the 100 hourly SMA. The first major support is near the $20,750 level. It is near the 50% Fib retracement level of the upward move from the $19,750 swing low to $21,780 high. A downside break below the $20,750 support could put a lot of pressure on the bulls in the near term. In the stated case, the price might slide towards the $20,000 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 just below the 50 level. Major Support Levels \u2013 $21,000, followed by $20,750. Major Resistance Levels \u2013 $21,250, $21,750 and $23,000.<\/p>\n","protected":false},"author":67,"featured_media":463643,"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-494198","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 Dips Could Be Limited, Why 100 SMA Is The Key<\/title>\n<meta name=\"description\" content=\"Bitcoin is showing positive signs above the $21,000 zone against the US Dollar. 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