price may perhaps rise<\/a> 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>\nFresh Decline in BTC?<\/h2>\n If bitcoin price fails to clear the $23,250 resistance, it could start another downward move. An immediate support on the downside is near the $23,000 zone and the channel trend line.<\/p>\n
The next major support is near the $22,850 zone. A downside break below the $22,850 level might send the price towards the $22,500 level. Any more losses might send the price to $22,200 in the near term.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now losing pace in the bullish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now near the 50 level.<\/p>\n
Major Support Levels \u2013 $23,000, followed by $22,500.<\/p>\n
Major Resistance Levels \u2013 $23,200, $23,250 and $24,000.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price is rising and approaching a major hurdle at $23,250. BTC remains at a risk of more downsides before it could start a fresh increase to $25,000. Bitcoin is attempting a fresh increase above the $23,000 resistance zone. The price is trading below $23,200 and the 100 hourly simple moving average. There is a key rising channel forming with support near $23,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could decline again if it fails to climb above the $23,250 resistance zone. Bitcoin Price Faces Hurdle Bitcoin price extended its decline below the $23,000 support zone. BTC even tested the $22,500 support zone. A low was formed near $22,519 before the price started a fresh increase. There was a move above the $22,650 and $22,800 levels. The price even climbed above the 23.6% Fib retracement level of the downward move from the $23,951 swing high to $22,519 low. It is now consolidating above the $23,000 level. Bitcoin price is still trading below $23,200 and the 100 hourly simple moving average. It seems to be facing a strong resistance near the $23,250 zone. Besides, there is a key rising channel forming with support near $23,000 on the hourly chart of the BTC\/USD pair. An immediate resistance is near the $23,200 level and the 100 hourly simple moving average. The next major resistance is near the $23,250 zone. It is close to the 50% Fib retracement level of the downward move from the $23,951 swing high to $22,519 low. Source: BTCUSD on TradingView.com A clear move above the $23,250 resistance might send the price further higher. 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. Fresh Decline in BTC? If bitcoin price fails to clear the $23,250 resistance, it could start another downward move. An immediate support on the downside is near the $23,000 zone and the channel trend line. The next major support is near the $22,850 zone. A downside break below the $22,850 level might send the price towards the $22,500 level. Any more losses might send the price to $22,200 in the near term. Technical indicators: Hourly MACD \u2013 The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now near the 50 level. Major Support Levels \u2013 $23,000, followed by $22,500. Major Resistance Levels \u2013 $23,200, $23,250 and $24,000.<\/p>\n","protected":false},"author":67,"featured_media":463152,"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-518248","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
Bitcoin Price At Risk of Downside Thrust Before Fresh Increase<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n