{"id":16131,"date":"2023-01-16T03:56:18","date_gmt":"2023-01-16T07:56:18","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=16131"},"modified":"2023-01-16T03:56:18","modified_gmt":"2023-01-16T07:56:18","slug":"bitcoin-price-resumes-increase-as-the-crypto-bulls-take-control","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/01\/16\/bitcoin-price-resumes-increase-as-the-crypto-bulls-take-control\/","title":{"rendered":"Bitcoin Price Resumes Increase as The Crypto Bulls Take Control"},"content":{"rendered":"

Bitcoin price climbed further higher above $21,000. BTC is rising and might aim a move towards the $22,000 resistance zone in the near term.<\/em><\/p>\n

Bitcoin climbed further higher above the $20,000 and $20,500 resistance levels.
\nThe price is trading above $20,200 and the 100 hourly simple moving average.
\nThere is a major bullish trend line forming with support near $20,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could rise further above the $21,500 resistance zone in the near term.<\/p>\n

Bitcoin Price Gains Bullish Momentum<\/h2>\n

Bitcoin price gained a strong bullish momentum<\/a> and settled above the $20,000 resistance zone. BTC even climbed above the $20,500 level to move into a positive zone.<\/p>\n

The price consolidated for some time above the $20,500 level. A high is formed near $21,484 and the price is now showing signs of more upsides<\/a>. It is now trading above $20,200 and the 100 hourly simple moving average. There is also a major bullish trend line forming with support near $20,500 on the hourly chart of the BTC\/USD pair.<\/p>\n

It is also trading above the 23.6% Fib retracement level of the upward move from the $20,248 swing low to $21,484 high. On the upside, an immediate resistance is near the $21,500 level.<\/p>\n

<\/a><\/p>\n

Source: BTCUSD on TradingView.com<\/a><\/p>\n

The next major resistance is near the $21,850 zone, above which the price might start another steady increase. In the stated case, the price may perhaps rise towards the $22,000 level. Any more gains might send btc price towards the $22,500 level.<\/p>\n

Downside Correction in BTC?<\/h2>\n

If bitcoin price fails to clear the $21,500 resistance, it could start a downside correction. An immediate support on the downside is near the $21,000 level.<\/p>\n

The next major support is near the $20,500 level and the trend line. It is near the 61.8% Fib retracement level of the upward move from the $20,248 swing low to $21,484 high. The main support is now forming near the $20,200 level, below which the price might retest $19,000.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone.<\/p>\n

Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n

Major Support Levels \u2013 $20,500, followed by $20,200.<\/p>\n

Major Resistance Levels \u2013 $21,500, $22,000 and $22,500.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price climbed further higher above $21,000. BTC is rising and might aim a move towards the $22,000 resistance zone in the near term.<\/em><\/p>\n

Bitcoin climbed further higher above the $20,000 and $20,500 resistance levels.
\nThe price is trading above $20,200 and the 100 hourly simple moving average.
\nThere is a major bullish trend line forming with support near $20,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could rise further above the $21,500 resistance zone in the near term.<\/p>\n

Bitcoin Price Gains Bullish Momentum<\/h2>\n

Bitcoin price gained a strong bullish momentum<\/a> and settled above the $20,000 resistance zone. BTC even climbed above the $20,500 level to move into a positive zone.<\/p>\n

The price consolidated for some time above the $20,500 level. A high is formed near $21,484 and the price is now showing signs of more upsides<\/a>. It is now trading above $20,200 and the 100 hourly simple moving average. There is also a major bullish trend line forming with support near $20,500 on the hourly chart of the BTC\/USD pair.<\/p>\n

It is also trading above the 23.6% Fib retracement level of the upward move from the $20,248 swing low to $21,484 high. On the upside, an immediate resistance is near the $21,500 level.<\/p>\n

<\/a><\/p>\n

Source: BTCUSD on TradingView.com<\/a><\/p>\n

The next major resistance is near the $21,850 zone, above which the price might start another steady increase. In the stated case, the price may perhaps rise towards the $22,000 level. Any more gains might send btc price towards the $22,500 level.<\/p>\n

Downside Correction in BTC?<\/h2>\n

If bitcoin price fails to clear the $21,500 resistance, it could start a downside correction. An immediate support on the downside is near the $21,000 level.<\/p>\n

The next major support is near the $20,500 level and the trend line. It is near the 61.8% Fib retracement level of the upward move from the $20,248 swing low to $21,484 high. The main support is now forming near the $20,200 level, below which the price might retest $19,000.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone.<\/p>\n

Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n

Major Support Levels \u2013 $20,500, followed by $20,200.<\/p>\n

Major Resistance Levels \u2013 $21,500, $22,000 and $22,500.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-16131","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\/16131","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=16131"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/16131\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=16131"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=16131"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=16131"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}