{"id":518042,"date":"2023-01-31T03:06:25","date_gmt":"2023-01-31T03:06:25","guid":{"rendered":"https:\/\/wncen.com\/?p=518042"},"modified":"2024-06-11T11:31:42","modified_gmt":"2024-06-11T11:31:42","slug":"bitcoin-price-correction-22k-2","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-correction-22k-2\/","title":{"rendered":"Bitcoin Price Hints At Potential Correction, Buy The Dip?"},"content":{"rendered":"<p>[vc_row][vc_column][vc_column_text]<em><a href=\"https:\/\/wncen.com\/news\/bitcoin\/\">Bitcoin price<\/a> started another downside correction below $23,250. BTC remains at a risk of more downsides before the bulls appear near $22,200 or $22,000.<\/em><\/p>\n<ul>\n<li>Bitcoin started a downside correction and traded below the $23,500 zone.<\/li>\n<li>The price is trading below $23,200 and the 100 hourly simple moving average.<\/li>\n<li>There was a break below a key bullish trend line with support near $23,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could decline further towards the $22,000 support unless it climbs above $23,250.<\/li>\n<\/ul>\n<h2>Bitcoin Price Starts Correction<\/h2>\n<p>Bitcoin price gained pace for a move above the $23,500 resistance zone. BTC even climbed above $23,800, but it struggled to clear the <a href=\"https:\/\/wncen.com\/all\/bitcoin-price-resumes-uptrend-25k\/\" target=\"_blank\" rel=\"noopener \">$24,000 resistance zone<\/a>.<\/p>\n<p>A new swing high was formed near $23,950 and the price saw a downside correction. There was a clear move below the $23,500 and $23,200 support levels. Besides, there was a break below a key bullish trend line with support near $23,000 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>A low is formed near $22,519 and the price is now <a href=\"https:\/\/wncen.com\/all\/bitcoin-price-holds-support-22-4k\/\" target=\"_blank\" rel=\"noopener \">correcting losses<\/a>. Bitcoin price is now trading below $23,200 and the 100 hourly simple moving average.<\/p>\n<p>It is trading just above the 23.6% Fib retracement level of the recent decline from the $23,950 swing high to $22,519 low. An immediate resistance is near the $23,000 level. The next major resistance is near the $23,200 zone or the 100 hourly simple moving average.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/Bitcoin-25.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-518043\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/Bitcoin-25.png?resize=1834%2C845\" alt=\"Bitcoin Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/Bitcoin-25.png?w=1834 1834w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/Bitcoin-25.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/Bitcoin-25.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/Bitcoin-25.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/Bitcoin-25.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/Bitcoin-25.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/Bitcoin-25.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>The 50% Fib retracement level of the recent decline from the $23,950 swing high to $22,519 low is also near the $23,250 zone, above which the price might start a strong increase. In the stated case, the price may perhaps rise towards the $23,650 level. The next resistance could be near the $24,000 level. Any more gains might send btc price towards the $25,000 level.<\/p>\n<h2>More Downsides in BTC?<\/h2>\n<p>If bitcoin price fails to clear the $23,250 resistance, it could continue its downside correction. An immediate support on the downside is near the $22,650 zone.<\/p>\n<p>The next major support is near the $22,500 zone. A downside break below the $22,500 level might send the price towards the $22,200 level. Any more losses might send the price to $22,000 in the near term.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now losing 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 $22,500, followed by $22,200.<\/p>\n<p>Major Resistance Levels \u2013 $23,000, $23,250 and $23,800.[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column][vc_column_text]Bitcoin price started another downside correction below $23,250. BTC remains at a risk of more downsides before the bulls appear near $22,200 or $22,000. Bitcoin started a downside correction and traded below the $23,500 zone. The price is trading below $23,200 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $23,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could decline further towards the $22,000 support unless it climbs above $23,250. Bitcoin Price Starts Correction Bitcoin price gained pace for a move above the $23,500 resistance zone. BTC even climbed above $23,800, but it struggled to clear the $24,000 resistance zone. A new swing high was formed near $23,950 and the price saw a downside correction. There was a clear move below the $23,500 and $23,200 support levels. Besides, there was a break below a key bullish trend line with support near $23,000 on the hourly chart of the BTC\/USD pair. A low is formed near $22,519 and the price is now correcting losses. Bitcoin price is now trading below $23,200 and the 100 hourly simple moving average. It is trading just above the 23.6% Fib retracement level of the recent decline from the $23,950 swing high to $22,519 low. An immediate resistance is near the $23,000 level. The next major resistance is near the $23,200 zone or the 100 hourly simple moving average. Source: BTCUSD on TradingView.com The 50% Fib retracement level of the recent decline from the $23,950 swing high to $22,519 low is also near the $23,250 zone, above which the price might start a strong increase. In the stated case, the price may perhaps rise towards the $23,650 level. The next resistance could be near the $24,000 level. Any more gains might send btc price towards the $25,000 level. More Downsides in BTC? If bitcoin price fails to clear the $23,250 resistance, it could continue its downside correction. An immediate support on the downside is near the $22,650 zone. The next major support is near the $22,500 zone. A downside break below the $22,500 level might send the price towards the $22,200 level. Any more losses might send the price to $22,000 in the near term. Technical indicators: Hourly MACD \u2013 The MACD is now losing 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 $22,500, followed by $22,200. Major Resistance Levels \u2013 $23,000, $23,250 and $23,800.[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n","protected":false},"author":67,"featured_media":460738,"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":[428,679,1144,78790,76835],"class_list":["post-518042","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n<title>Bitcoin Price Hints Correction?<\/title>\n<meta name=\"description\" content=\"Is this a Bitcoin correction hint?Bitcoin price started another downside correction below $23,250. BTC remains at a risk of more downsides. 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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 Hints At Potential Correction, Buy The Dip?","url":"http:\/\/wncen.com\/news\/bitcoin-price-correction-22k-2\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-price-correction-22k-2\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/shutterstock_1418423411.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/shutterstock_1418423411.jpg?fit=1000%2C667"},"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","bitcoin price","btcusd","btcusdt","xbtusd"],"dateCreated":"2023-01-31T03:06:25Z","datePublished":"2023-01-31T03:06:25Z","dateModified":"2024-06-11T11:31:42Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Hints At Potential Correction, Buy The Dip?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-correction-22k-2\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-correction-22k-2\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_1418423411.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_1418423411.jpg?fit=1000%2C667\"},\"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\",\"bitcoin price\",\"btcusd\",\"btcusdt\",\"xbtusd\"],\"dateCreated\":\"2023-01-31T03:06:25Z\",\"datePublished\":\"2023-01-31T03:06:25Z\",\"dateModified\":\"2024-06-11T11:31:42Z\"}<\/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\/04\/shutterstock_1418423411.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/518042","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=518042"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/518042\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/460738"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=518042"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=518042"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=518042"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}