{"id":10853,"date":"2022-10-29T16:53:37","date_gmt":"2022-10-29T20:53:37","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=10853"},"modified":"2022-10-29T16:53:37","modified_gmt":"2022-10-29T20:53:37","slug":"bitcoin-reclaims-20500-here-are-the-levels-you-should-pay-attention-to","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2022\/10\/29\/bitcoin-reclaims-20500-here-are-the-levels-you-should-pay-attention-to\/","title":{"rendered":"Bitcoin Reclaims $20,500; Here Are The Levels You Should Pay Attention To"},"content":{"rendered":"

BTC\u2019s price shows strength as it bounces from a downtrend range price rallied to a high of $20,800 with eyes set on $21,600.\u00a0<\/strong>
\nBTC could rally more as the price creates more bullish bias as the price builds more bullish momentum above $20,300.<\/strong>
\nBTC\u2019s price remains strong on the daily timeframe above the 50 Exponential Moving Average<\/a> (EMA) as the price aims for more rallies.<\/strong><\/p>\n

The price action displayed by Bitcoin (BTC) in the past few days has been nothing short of tremendous, creating a more bullish scenario across the crypto market. The crypto market is looking increasingly welcoming as many altcoins continue producing over 30% gains. The likes of DOGE have seen some great runs in recent times rallying from a low of $0.055 to a high of $0.1 after the news broke out of Elon Musk taking over Twitter, considering he is referred to as DOGE father. This has affected DOGE positively. (Data from Binance)<\/p>\n

Bitcoin (BTC) Price Analysis On The Weekly Chart.<\/h2>\n

Bitcoin (BTC) has struggled to regain its bullish momentum in recent times; despite the uncertainty that has befallen the crypto space, the price of BTC has enjoyed a measure of relief after showing so much strength on the weekly low, rallying to a high of $20,800.<\/p>\n

Previous weeks have been nothing short of a tough and boring time for BTC price as price continued in its range movement around $19,000, leading to some altcoins losing their key support zone despite the market having low liquidity.<\/p>\n

After its weekly close of above $19,500, the price of BTC rallied to a high of $20,300; the price has faced a minor rejection to break higher to a region of $20,500; the price struggled to break above this region as the price overcame to rally to $20,800.\u00a0<\/p>\n

The price of BTC has maintained its bullish structure above the $20,500 region, the price of BTC eyes a rally to a region of $21,600 which could prove to be very key in its price rally to $22,000. If the price of BTC fails to overcome $21,600, we could see the price drop to $20,500 or lower as support regions.<\/p>\n

Weekly resistance for the price of BTC \u2013 $21,600.<\/p>\n

Weekly Support for the price of BTC \u2013 $20,500.<\/p>\n

Price Analysis Of BTC On The Daily (1D) Chart<\/h2>\n

Daily BTC Price Chart | Source: BTCUSDT On Tradingview.com<\/a><\/p>\n

In the daily timeframe, the price of BTC continues to look strong as the price broke out of its descending triangle, with good volume rallying to a high of $20,800. ;\u00a0<\/p>\n

BTC currently trades at $20,750, just above its key Support formed at 20,300 after its successful breakout from a descending triangle. The price of BTC trades above the 50 EMA, and the 50 EMA corresponds to $19,800, which will act as Support for the future price decline.<\/p>\n

The price of BTC is struggling to break and close above $21,200, which corresponds to the 32.8% Fibonacci retracement value (Fib Value); if the price breaks and closes, we could see the price rally to $22,500 at 61.8% Fib value.\u00a0\u00a0<\/p>\n

Daily resistance for the BTC price \u2013 $21,600.<\/p>\n

Daily Support for the BTC price \u2013 $20,300-$19,800.<\/p>\n

32.8% Fib Value \u2013 $21,200<\/p>\n

61.8% Fib Value \u2013 $22,500.<\/p>\n

Featured Image From coingape, Charts From Tradingview<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

BTC\u2019s price shows strength as it bounces from a downtrend range price rallied to a high of $20,800 with eyes set on $21,600.\u00a0<\/strong>
\nBTC could rally more as the price creates more bullish bias as the price builds more bullish momentum above $20,300.<\/strong>
\nBTC\u2019s price remains strong on the daily timeframe above the 50 Exponential Moving Average<\/a> (EMA) as the price aims for more rallies.<\/strong><\/p>\n

The price action displayed by Bitcoin (BTC) in the past few days has been nothing short of tremendous, creating a more bullish scenario across the crypto market. The crypto market is looking increasingly welcoming as many altcoins continue producing over 30% gains. The likes of DOGE have seen some great runs in recent times rallying from a low of $0.055 to a high of $0.1 after the news broke out of Elon Musk taking over Twitter, considering he is referred to as DOGE father. This has affected DOGE positively. (Data from Binance)<\/p>\n

Bitcoin (BTC) Price Analysis On The Weekly Chart.<\/h2>\n

Bitcoin (BTC) has struggled to regain its bullish momentum in recent times; despite the uncertainty that has befallen the crypto space, the price of BTC has enjoyed a measure of relief after showing so much strength on the weekly low, rallying to a high of $20,800.<\/p>\n

Previous weeks have been nothing short of a tough and boring time for BTC price as price continued in its range movement around $19,000, leading to some altcoins losing their key support zone despite the market having low liquidity.<\/p>\n

After its weekly close of above $19,500, the price of BTC rallied to a high of $20,300; the price has faced a minor rejection to break higher to a region of $20,500; the price struggled to break above this region as the price overcame to rally to $20,800.\u00a0<\/p>\n

The price of BTC has maintained its bullish structure above the $20,500 region, the price of BTC eyes a rally to a region of $21,600 which could prove to be very key in its price rally to $22,000. If the price of BTC fails to overcome $21,600, we could see the price drop to $20,500 or lower as support regions.<\/p>\n

Weekly resistance for the price of BTC \u2013 $21,600.<\/p>\n

Weekly Support for the price of BTC \u2013 $20,500.<\/p>\n

Price Analysis Of BTC On The Daily (1D) Chart<\/h2>\n

Daily BTC Price Chart | Source: BTCUSDT On Tradingview.com<\/a><\/p>\n

In the daily timeframe, the price of BTC continues to look strong as the price broke out of its descending triangle, with good volume rallying to a high of $20,800. ;\u00a0<\/p>\n

BTC currently trades at $20,750, just above its key Support formed at 20,300 after its successful breakout from a descending triangle. The price of BTC trades above the 50 EMA, and the 50 EMA corresponds to $19,800, which will act as Support for the future price decline.<\/p>\n

The price of BTC is struggling to break and close above $21,200, which corresponds to the 32.8% Fibonacci retracement value (Fib Value); if the price breaks and closes, we could see the price rally to $22,500 at 61.8% Fib value.\u00a0\u00a0<\/p>\n

Daily resistance for the BTC price \u2013 $21,600.<\/p>\n

Daily Support for the BTC price \u2013 $20,300-$19,800.<\/p>\n

32.8% Fib Value \u2013 $21,200<\/p>\n

61.8% Fib Value \u2013 $22,500.<\/p>\n

Featured Image From coingape, Charts From Tradingview<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-10853","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/10853","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=10853"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/10853\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=10853"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=10853"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=10853"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}