{"id":16485,"date":"2023-01-20T04:53:39","date_gmt":"2023-01-20T08:53:39","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=16485"},"modified":"2023-01-20T04:53:39","modified_gmt":"2023-01-20T08:53:39","slug":"bitcoin-price-bulls-in-check-signs-of-fresh-increase-above-21-5k","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/01\/20\/bitcoin-price-bulls-in-check-signs-of-fresh-increase-above-21-5k\/","title":{"rendered":"Bitcoin Price Bulls In Check, Signs of Fresh Increase above $21.5K"},"content":{"rendered":"

Bitcoin price is attempting a fresh increase above the $21,200 resistance zone. BTC could gain bullish momentum if there is a clear move above the $21,500 resistance.<\/em><\/p>\n

Bitcoin corrected lower, but it found support near the $20,500 zones.
\nThe price is trading above $21,000 and the 100 hourly simple moving average.
\nThere is a short-term key bullish trend line forming with support near $21,050 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a fresh increase if there is a clear move above the $21,500 resistance zone.<\/p>\n

Bitcoin Price Remains Supported<\/h2>\n

Bitcoin price started a downside correction from the $21,500 resistance zone. BTC declined below the $21,000 support zone, similar to ethereum<\/a>.<\/p>\n

However, the bulls were active near the $20,500 and $20,400 support levels. A low is formed near $20,395 and the price is now rising. There was a clear move above the $20,850 resistance zone. The bulls pushed the price above the 50% Fib retracement level of the recent decline from the $21,639 swing high to $20,395 low.<\/p>\n

Bitcoin price is now trading above $21,000 and the 100 hourly simple moving average<\/a>. There is also a short-term key bullish trend line forming with support near $21,050 on the hourly chart of the BTC\/USD pair.<\/p>\n

An immediate resistance is near the $21,160 level. It is near the 61.8% Fib retracement level of the recent decline from the $21,639 swing high to $20,395. The next major resistance is near the $21,500 zone, above which the price might gain bullish momentum.<\/p>\n

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

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

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

Another Drop in BTC?<\/h2>\n

If bitcoin price fails to clear the $21,250 resistance, it could start a fresh decline. An immediate support on the downside is near the $21,050 zone and the trend line.<\/p>\n

The next major support is near the $20,500 zone, below which the price might gain bearish momentum and test $20,000. Any more losses might send the price to $19,500 in the near term.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now losing pace in the bearish 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 $20,000.<\/p>\n

Major Resistance Levels \u2013 $21,160, $21,250 and $21,500.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price is attempting a fresh increase above the $21,200 resistance zone. BTC could gain bullish momentum if there is a clear move above the $21,500 resistance.<\/em><\/p>\n

Bitcoin corrected lower, but it found support near the $20,500 zones.
\nThe price is trading above $21,000 and the 100 hourly simple moving average.
\nThere is a short-term key bullish trend line forming with support near $21,050 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a fresh increase if there is a clear move above the $21,500 resistance zone.<\/p>\n

Bitcoin Price Remains Supported<\/h2>\n

Bitcoin price started a downside correction from the $21,500 resistance zone. BTC declined below the $21,000 support zone, similar to ethereum<\/a>.<\/p>\n

However, the bulls were active near the $20,500 and $20,400 support levels. A low is formed near $20,395 and the price is now rising. There was a clear move above the $20,850 resistance zone. The bulls pushed the price above the 50% Fib retracement level of the recent decline from the $21,639 swing high to $20,395 low.<\/p>\n

Bitcoin price is now trading above $21,000 and the 100 hourly simple moving average<\/a>. There is also a short-term key bullish trend line forming with support near $21,050 on the hourly chart of the BTC\/USD pair.<\/p>\n

An immediate resistance is near the $21,160 level. It is near the 61.8% Fib retracement level of the recent decline from the $21,639 swing high to $20,395. The next major resistance is near the $21,500 zone, above which the price might gain bullish momentum.<\/p>\n

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

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

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

Another Drop in BTC?<\/h2>\n

If bitcoin price fails to clear the $21,250 resistance, it could start a fresh decline. An immediate support on the downside is near the $21,050 zone and the trend line.<\/p>\n

The next major support is near the $20,500 zone, below which the price might gain bearish momentum and test $20,000. Any more losses might send the price to $19,500 in the near term.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now losing pace in the bearish 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 $20,000.<\/p>\n

Major Resistance Levels \u2013 $21,160, $21,250 and $21,500.<\/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-16485","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\/16485","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=16485"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/16485\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=16485"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=16485"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=16485"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}