{"id":506040,"date":"2022-10-13T02:48:01","date_gmt":"2022-10-13T02:48:01","guid":{"rendered":"https:\/\/wncen.com\/?p=506040"},"modified":"2024-06-11T14:27:25","modified_gmt":"2024-06-11T14:27:25","slug":"bitcoin-price-btc-could-rise-20k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-btc-could-rise-20k\/","title":{"rendered":"Bitcoin Price Forms Short-Term Bullish Pattern, Why BTC Could Rise To $20K"},"content":{"rendered":"<p><em>Bitcoin price is consolidating near the $19,000 level against the US Dollar. BTC seems to be forming a short-term bullish pattern and might rise towards $20,000.<\/em><\/p>\n<ul>\n<li>Bitcoin is struggling to gain pace for a move above the $19,200 level.<\/li>\n<li>The price is trading below above $19,400 and the 100 hourly simple moving average.<\/li>\n<li>There is a new connecting bearish trend line forming with resistance near $19,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could start a fresh increase unless there is a clear move below the $18,950 level.<\/li>\n<\/ul>\n<h2>Bitcoin Price Remains In A Range<\/h2>\n<p>Bitcoin price was seen trading in a range below the $20,000 resistance zone. BTC even settled below the $19,500 level and the 100 hourly simple moving average.<\/p>\n<p>The last swing low was formed near $18,860 before there was a minor upside correction. The price was able to clear the 23.6% Fib retracement level of the downward move from the $19,560 swing high to $18,860 low. The bulls even pushed the price above the $19,200 level.<\/p>\n<p>However, the bears were active above the $19,200 level. <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-bears-target-weakness\/\" target=\"_blank\" rel=\"noopener \">Bitcoin price struggled<\/a> to clear the 50% Fib retracement level of the downward move from the $19,560 swing high to $18,860 low.<\/p>\n<p>It is now trading below above $19,400 and the 100 hourly simple moving average. It seems like there is a short-term inverse head and shoulders pattern forming with breakdown support at $18,950. On the upside, an immediate resistance is near the $19,200 level. There is also a new connecting bearish trend line forming with resistance near $19,200 on the hourly chart of the BTC\/USD pair.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-10.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-506041\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-10.png?resize=1834%2C845\" alt=\"Bitcoin Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-10.png?w=1834 1834w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-10.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-10.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-10.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-10.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-10.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-10.png?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/p>\n<p>A clear move above the trend line might send the price towards the $19,500 resistance. Any more gains might start a steady increase towards the $20,000 resistance zone.<\/p>\n<h2>More Losses in BTC?<\/h2>\n<p>If bitcoin fails to rise above the $19,200 resistance zone, it could continue to move down. An immediate support on the downside is near the $18,950 zone.<\/p>\n<p>The next major support is near the $18,860 zone. A downside break below the $18,860 support zone send the price towards the $18,550 level. Any more losses might call for a drop towards the $17,800 support zone.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $18,950, followed by $18,860.<\/p>\n<p>Major Resistance Levels \u2013 $19,200, $19,500 and $20,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is consolidating near the $19,000 level against the US Dollar. BTC seems to be forming a short-term bullish pattern and might rise towards $20,000. Bitcoin is struggling to gain pace for a move above the $19,200 level. The price is trading below above $19,400 and the 100 hourly simple moving average. There is a new connecting bearish trend line forming with resistance near $19,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start a fresh increase unless there is a clear move below the $18,950 level. Bitcoin Price Remains In A Range Bitcoin price was seen trading in a range below the $20,000 resistance zone. BTC even settled below the $19,500 level and the 100 hourly simple moving average. The last swing low was formed near $18,860 before there was a minor upside correction. The price was able to clear the 23.6% Fib retracement level of the downward move from the $19,560 swing high to $18,860 low. The bulls even pushed the price above the $19,200 level. However, the bears were active above the $19,200 level. Bitcoin price struggled to clear the 50% Fib retracement level of the downward move from the $19,560 swing high to $18,860 low. It is now trading below above $19,400 and the 100 hourly simple moving average. It seems like there is a short-term inverse head and shoulders pattern forming with breakdown support at $18,950. On the upside, an immediate resistance is near the $19,200 level. There is also a new connecting bearish trend line forming with resistance near $19,200 on the hourly chart of the BTC\/USD pair. Source: BTCUSD on TradingView.com A clear move above the trend line might send the price towards the $19,500 resistance. Any more gains might start a steady increase towards the $20,000 resistance zone. More Losses in BTC? If bitcoin fails to rise above the $19,200 resistance zone, it could continue to move down. An immediate support on the downside is near the $18,950 zone. The next major support is near the $18,860 zone. A downside break below the $18,860 support zone send the price towards the $18,550 level. Any more losses might call for a drop towards the $17,800 support zone. Technical indicators: Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level. Major Support Levels \u2013 $18,950, followed by $18,860. Major Resistance Levels \u2013 $19,200, $19,500 and $20,000.<\/p>\n","protected":false},"author":67,"featured_media":464826,"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-506040","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>Bitcoin Price Forms Short-Term Bullish Pattern, Why BTC Could Rise To $20K<\/title>\n<meta name=\"description\" content=\"Bitcoin price is consolidating near the $19,000 level against the US Dollar. 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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":"Bitcoin Price Forms Short-Term Bullish Pattern, Why BTC Could Rise To $20K","url":"http:\/\/wncen.com\/news\/bitcoin-price-btc-could-rise-20k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-price-btc-could-rise-20k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/06\/Depositphotos_78872860_s-2019.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/06\/Depositphotos_78872860_s-2019.jpg?fit=999%2C636"},"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":"2022-10-13T02:48:01Z","datePublished":"2022-10-13T02:48:01Z","dateModified":"2024-06-11T14:27:25Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Forms Short-Term Bullish Pattern, Why BTC Could Rise To $20K\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-btc-could-rise-20k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-btc-could-rise-20k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/06\\\/Depositphotos_78872860_s-2019.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/06\\\/Depositphotos_78872860_s-2019.jpg?fit=999%2C636\"},\"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\":\"2022-10-13T02:48:01Z\",\"datePublished\":\"2022-10-13T02:48:01Z\",\"dateModified\":\"2024-06-11T14:27:25Z\"}<\/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\/2021\/06\/Depositphotos_78872860_s-2019.jpg?fit=999%2C636","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/506040","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=506040"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/506040\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/464826"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=506040"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=506040"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=506040"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}