{"id":506221,"date":"2022-10-14T02:35:56","date_gmt":"2022-10-14T02:35:56","guid":{"rendered":"https:\/\/wncen.com\/?p=506221"},"modified":"2024-06-11T14:27:29","modified_gmt":"2024-06-11T14:27:29","slug":"bitcoin-price-jumps-5-20k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-jumps-5-20k\/","title":{"rendered":"Bitcoin Price Jumps 5%, Why Recent Breakout Seems Significant"},"content":{"rendered":"<p><em>Bitcoin price traded to a new weekly low before reversing losses against the US Dollar. BTC broke $19,500 and might rise further towards $20,500.<\/em><\/p>\n<ul>\n<li>Bitcoin is up nearly 5% and there was a clear move above the $19,500 resistance zone.<\/li>\n<li>The price is trading below above $19,500 and the 100 hourly simple moving average.<\/li>\n<li>There was a break above a major bearish trend line with resistance near $19,150 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair is showing bullish signs and might extend gains above $20,000.<\/li>\n<\/ul>\n<h2>Bitcoin Price Starts Fresh Rally<\/h2>\n<p>Bitcoin price extended losses below the $19,000 support zone. Yesterday, the US CPI data was released, which posted an increase of 8.2%. It pushed BTC price below the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-btc-could-rise-20k\/\" target=\"_blank\" rel=\"noopener \">$18,500 support zone<\/a>.<\/p>\n<p>The bears gained strength and the price dived to the $18,200 support zone. However, the bears failed to push the price further lower. A low was formed near $18,142 and there was a strong bullish reaction. The price gained bullish momentum and climbed above the $19,000 level.<\/p>\n<p>Bitcoin price cleared the 50% Fib retracement level of the downward move from the $20,443 swing high to $18,142 low. Besides, there was a break above a major bearish trend line with resistance near $19,150 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>The price is now trading below above $19,500 and the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-bears-target-weakness\/\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>. It is trading near the 76.4% Fib retracement level of the downward move from the $20,443 swing high to $18,142 low.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-11.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-506222\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-11.png?resize=1834%2C845\" alt=\"Bitcoin Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-11.png?w=1834 1834w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-11.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-11.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-11.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-11.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-11.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-11.png?w=1140 1140w\" sizes=\"(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>On the upside, an immediate resistance is near the $20,000 level. A clear move above the $20,000 resistance might pump the price further higher. The next major resistance is near the $20,450 level. Any more gains might start a steady increase towards the $21,200 resistance zone.<\/p>\n<h2>Dips Supported in BTC?<\/h2>\n<p>If bitcoin fails to rise above the $20,000 resistance zone, it could start a downside correction. An immediate support on the downside is near the $19,500 zone.<\/p>\n<p>The next major support is near the $19,200 zone and the 100 hourly SMA. A downside break below the $19,200 support zone might increase selling pressure. In the stated case, the price could decline towards the $18,500 support zone.<\/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 in the overbought zone.<\/p>\n<p>Major Support Levels \u2013 $19,500, followed by $19,200.<\/p>\n<p>Major Resistance Levels \u2013 $20,000, $20,450 and $21,200.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price traded to a new weekly low before reversing losses against the US Dollar. BTC broke $19,500 and might rise further towards $20,500. Bitcoin is up nearly 5% and there was a clear move above the $19,500 resistance zone. The price is trading below above $19,500 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $19,150 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is showing bullish signs and might extend gains above $20,000. Bitcoin Price Starts Fresh Rally Bitcoin price extended losses below the $19,000 support zone. Yesterday, the US CPI data was released, which posted an increase of 8.2%. It pushed BTC price below the $18,500 support zone. The bears gained strength and the price dived to the $18,200 support zone. However, the bears failed to push the price further lower. A low was formed near $18,142 and there was a strong bullish reaction. The price gained bullish momentum and climbed above the $19,000 level. Bitcoin price cleared the 50% Fib retracement level of the downward move from the $20,443 swing high to $18,142 low. Besides, there was a break above a major bearish trend line with resistance near $19,150 on the hourly chart of the BTC\/USD pair. The price is now trading below above $19,500 and the 100 hourly simple moving average. It is trading near the 76.4% Fib retracement level of the downward move from the $20,443 swing high to $18,142 low. Source: BTCUSD on TradingView.com On the upside, an immediate resistance is near the $20,000 level. A clear move above the $20,000 resistance might pump the price further higher. The next major resistance is near the $20,450 level. Any more gains might start a steady increase towards the $21,200 resistance zone. Dips Supported in BTC? If bitcoin fails to rise above the $20,000 resistance zone, it could start a downside correction. An immediate support on the downside is near the $19,500 zone. The next major support is near the $19,200 zone and the 100 hourly SMA. A downside break below the $19,200 support zone might increase selling pressure. In the stated case, the price could decline towards the $18,500 support zone. 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 in the overbought zone. Major Support Levels \u2013 $19,500, followed by $19,200. Major Resistance Levels \u2013 $20,000, $20,450 and $21,200.<\/p>\n","protected":false},"author":67,"featured_media":506223,"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-506221","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 Jumps 5%, Why Recent Breakout Seems Significant<\/title>\n<meta name=\"description\" content=\"Bitcoin price traded to a new weekly low before reversing losses 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 Jumps 5%, Why Recent Breakout Seems Significant","url":"http:\/\/wncen.com\/news\/bitcoin-price-jumps-5-20k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-price-jumps-5-20k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Depositphotos_67114657_s-2019.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Depositphotos_67114657_s-2019.jpg?fit=1000%2C700"},"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":"2022-10-14T02:35:56Z","datePublished":"2022-10-14T02:35:56Z","dateModified":"2024-06-11T14:27:29Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Jumps 5%, Why Recent Breakout Seems Significant\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-jumps-5-20k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-jumps-5-20k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/10\\\/Depositphotos_67114657_s-2019.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/10\\\/Depositphotos_67114657_s-2019.jpg?fit=1000%2C700\"},\"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\":\"2022-10-14T02:35:56Z\",\"datePublished\":\"2022-10-14T02:35:56Z\",\"dateModified\":\"2024-06-11T14:27:29Z\"}<\/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\/2022\/10\/Depositphotos_67114657_s-2019.jpg?fit=1000%2C700","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/506221"}],"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=506221"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/506221\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/506223"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=506221"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=506221"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=506221"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}