{"id":16691,"date":"2023-01-24T04:53:26","date_gmt":"2023-01-24T08:53:26","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=16691"},"modified":"2023-01-24T04:53:26","modified_gmt":"2023-01-24T08:53:26","slug":"bitcoin-price-gearing-for-another-lift-off-and-might-surge-to-25k","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/01\/24\/bitcoin-price-gearing-for-another-lift-off-and-might-surge-to-25k\/","title":{"rendered":"Bitcoin Price Gearing For Another Lift-Off and Might Surge To $25K"},"content":{"rendered":"

Bitcoin price remained well supported above the $22,300 zone. BTC is rising and might aim a fresh increase above the $23,500 resistance zone.<\/em><\/p>\n

Bitcoin started a minor downside correction and tested the $22,400 support zone.
\nThe price is trading above $22,500 and the 100 hourly simple moving average.
\nThere is a key bullish trend line forming with support near $22,100 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a fresh surge if it clears the $23,500 resistance zone.<\/p>\n

Bitcoin Price Eyes Another Increase<\/h2>\n

Bitcoin price gained pace above the $22,500 resistance zone. BTC even traded above the $23,000 level before it faced sellers near the $23,500 zone. There was a minor downside correction from the $23,400 zone, similar to ethereum<\/a>.<\/p>\n

The price traded as high as $23,428 before there was a downside correction<\/a>. There was a move below the $23,000 level. The price even dipped below the 23.6% Fib retracement level of the upward wave from the $20,396 swing low to $24,249 high.<\/p>\n

However, the price is stable above $22,500 and the 100 hourly simple moving average. There is also a key bullish trend line forming with support near $22,100 on the hourly chart of the BTC\/USD pair.<\/p>\n

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

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

An immediate resistance is near the $23,200 level. The next major resistance is near the $23,400 zone, above which the price might gain bullish momentum. In the stated case, the price may perhaps rise even clear the $23,500 level. The next hurdle could be near the $24,200 level. Any more gains might send btc price towards the $25,000 level.<\/p>\n

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

If bitcoin price fails to clear the $23,400 resistance, it could start another downside correction. An immediate support on the downside is near the $22,700 zone.<\/p>\n

The next major support is near the $22,100 zone and the trend line, below which it could test the 50% Fib retracement level of the upward wave from the $20,396 swing low to $24,249 high. Any more losses might send the price to $21,500 in the near term.<\/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 $22,700, followed by $22,100.<\/p>\n

Major Resistance Levels \u2013 $23,200, $23,400 and $23,500.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price remained well supported above the $22,300 zone. BTC is rising and might aim a fresh increase above the $23,500 resistance zone.<\/em><\/p>\n

Bitcoin started a minor downside correction and tested the $22,400 support zone.
\nThe price is trading above $22,500 and the 100 hourly simple moving average.
\nThere is a key bullish trend line forming with support near $22,100 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a fresh surge if it clears the $23,500 resistance zone.<\/p>\n

Bitcoin Price Eyes Another Increase<\/h2>\n

Bitcoin price gained pace above the $22,500 resistance zone. BTC even traded above the $23,000 level before it faced sellers near the $23,500 zone. There was a minor downside correction from the $23,400 zone, similar to ethereum<\/a>.<\/p>\n

The price traded as high as $23,428 before there was a downside correction<\/a>. There was a move below the $23,000 level. The price even dipped below the 23.6% Fib retracement level of the upward wave from the $20,396 swing low to $24,249 high.<\/p>\n

However, the price is stable above $22,500 and the 100 hourly simple moving average. There is also a key bullish trend line forming with support near $22,100 on the hourly chart of the BTC\/USD pair.<\/p>\n

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

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

An immediate resistance is near the $23,200 level. The next major resistance is near the $23,400 zone, above which the price might gain bullish momentum. In the stated case, the price may perhaps rise even clear the $23,500 level. The next hurdle could be near the $24,200 level. Any more gains might send btc price towards the $25,000 level.<\/p>\n

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

If bitcoin price fails to clear the $23,400 resistance, it could start another downside correction. An immediate support on the downside is near the $22,700 zone.<\/p>\n

The next major support is near the $22,100 zone and the trend line, below which it could test the 50% Fib retracement level of the upward wave from the $20,396 swing low to $24,249 high. Any more losses might send the price to $21,500 in the near term.<\/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 $22,700, followed by $22,100.<\/p>\n

Major Resistance Levels \u2013 $23,200, $23,400 and $23,500.<\/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-16691","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\/16691","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=16691"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/16691\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=16691"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=16691"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=16691"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}