{"id":497932,"date":"2022-08-08T03:38:21","date_gmt":"2022-08-08T03:38:21","guid":{"rendered":"https:\/\/wncen.com\/?p=497932"},"modified":"2024-06-11T10:56:31","modified_gmt":"2024-06-11T10:56:31","slug":"bitcoin-price-could-rally-24k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-could-rally-24k\/","title":{"rendered":"TA: Bitcoin Price Could Rally If There Is A Close Above This Key Resistance"},"content":{"rendered":"
Bitcoin price remained supported above the $22,650 level against the US Dollar. BTC could rally if there is a clear move above the $23,500 resistance zone.<\/em><\/p>\n Bitcoin price remained above a major support zone<\/a> near the $22,400 and $22,500 levels. The price started a decent increase above the $22,800 and $22,950 levels.<\/p>\n The upward move was such that the price climbed above the $23,000 level and the 100 hourly simple moving average<\/a>. The price surpassed the 50% Fib retracement level of the downward move from the $23,477 swing high to $22,755 low.<\/p>\n Besides, there was a break above a key bearish trend line with resistance near $23,200 on the hourly chart of the BTC\/USD pair. The pair is now trading near the $23,300 level.<\/p>\n <\/a><\/p>\n It is struggling near the 76.4% Fib retracement level of the downward move from the $23,477 swing high to $22,755 low. The next key resistance is near the $23,500 zone. A close above the $23,500 resistance zone could start a steady increase. In the stated case, the price may perhaps rise clear the $24,500 resistance.<\/p>\n If bitcoin fails to clear the $23,500 resistance zone, it could start a downside correction. An immediate support on the downside is near the $23,100 level.<\/p>\n The next major support now sits near the $22,750 level. A close below the $22,750 level might start a move towards $22,500. Any more losses might send the price towards $22,000 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 $23,100, followed by $22,750.<\/p>\n Major Resistance Levels \u2013 $23,500, $24,200 and $24,500.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin price remained supported above the $22,650 level against the US Dollar. BTC could rally if there is a clear move above the $23,500 resistance zone. Bitcoin is trading in a range above the $22,500 level the $23,500 level. The price is now trading above the $23,000 level and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $23,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair must clear the $23,500 resistance to start a steady increase in the near term. Bitcoin Price Faces Key Barrier Bitcoin price remained above a major support zone near the $22,400 and $22,500 levels. The price started a decent increase above the $22,800 and $22,950 levels. The upward move was such that the price climbed above the $23,000 level and the 100 hourly simple moving average. The price surpassed the 50% Fib retracement level of the downward move from the $23,477 swing high to $22,755 low. Besides, there was a break above a key bearish trend line with resistance near $23,200 on the hourly chart of the BTC\/USD pair. The pair is now trading near the $23,300 level. Source: BTCUSD on TradingView.com It is struggling near the 76.4% Fib retracement level of the downward move from the $23,477 swing high to $22,755 low. The next key resistance is near the $23,500 zone. A close above the $23,500 resistance zone could start a steady increase. In the stated case, the price may perhaps rise clear the $24,500 resistance. Downside Break in BTC? If bitcoin fails to clear the $23,500 resistance zone, it could start a downside correction. An immediate support on the downside is near the $23,100 level. The next major support now sits near the $22,750 level. A close below the $22,750 level might start a move towards $22,500. Any more losses might send the price towards $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 $23,100, followed by $22,750. Major Resistance Levels \u2013 $23,500, $24,200 and $24,500.<\/p>\n","protected":false},"author":67,"featured_media":460511,"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-497932","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 Key Barrier<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Downside Break in BTC?<\/h2>\n