Bitcoin is struggling near the $21,000 resistance zone against the US Dollar. BTC could rally if it clears the $20,900 and $21,000 resistance levels.<\/p>\n
Bitcoin is showing a few positive signs above the $20,000 support.
\nThe price is now still above the $20,000 level and the 100 hourly simple moving average.
\nThere is a connecting bullish trend line forming with support near $20,275 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a fresh decline if it stays below the key $21,000 resistance zone.<\/p>\n
Bitcoin Price Eyes Upside Break<\/p>\n
Bitcoin price started an upside correction after it traded as low as $17,600. There was a decent recovery wave above the $18,500 and $19,000 levels.<\/p>\n
The price surpassed the 50% Fib retracement level of the main drop from the $22,951 high to $17,600 low. The price even cleared the $20,000 level and the 100 hourly simple moving average. There is also a connecting bullish trend line forming with support near $20,275 on the hourly chart of the BTC\/USD pair.<\/p>\n
However, the bears are now defending major gains above the $20,500 zone. Bitcoin is also struggling near the 61.8% Fib retracement level of the main drop from the $22,951 high to $17,600 low. An immediate resistance on the upside is near the $20,800 level. The first major resistance is near the $20,900 and $21,000 levels.<\/p>\n\n
Source: BTCUSD on TradingView.com<\/p>\n
A clear move above the $21,000 level could even push the price towards $21,800. Any more gains might send the price towards the $22,200 level in the coming sessions.<\/p>\n
Fresh Decline in BTC?<\/p>\n
If bitcoin fails to clear the $21,000 resistance zone, it could start a fresh decline. An immediate support on the downside is near the $20,275 level and the trend line.<\/p>\n
The next major support is near the $20,000 level and the 100 hourly SMA. A downside break below the $20,000 support could spark another decline. In the stated case, the price could test $18,800.<\/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 above the 50 level.<\/p>\n
Major Support Levels \u2013 $20,275, followed by $20,000.<\/p>\n
Major Resistance Levels \u2013 $20,900, $21,000 and $22,000.<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
Bitcoin is struggling near the $21,000 resistance zone against the US Dollar. BTC could rally if it clears the $20,900 and $21,000 resistance levels.<\/p>\n
Bitcoin is showing a few positive signs above the $20,000 support.
\nThe price is now still above the $20,000 level and the 100 hourly simple moving average.
\nThere is a connecting bullish trend line forming with support near $20,275 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a fresh decline if it stays below the key $21,000 resistance zone.<\/p>\n
Bitcoin Price Eyes Upside Break<\/p>\n
Bitcoin price started an upside correction after it traded as low as $17,600. There was a decent recovery wave above the $18,500 and $19,000 levels.<\/p>\n
The price surpassed the 50% Fib retracement level of the main drop from the $22,951 high to $17,600 low. The price even cleared the $20,000 level and the 100 hourly simple moving average. There is also a connecting bullish trend line forming with support near $20,275 on the hourly chart of the BTC\/USD pair.<\/p>\n
However, the bears are now defending major gains above the $20,500 zone. Bitcoin is also struggling near the 61.8% Fib retracement level of the main drop from the $22,951 high to $17,600 low. An immediate resistance on the upside is near the $20,800 level. The first major resistance is near the $20,900 and $21,000 levels.<\/p>\n
Source: BTCUSD on TradingView.com<\/p>\n
A clear move above the $21,000 level could even push the price towards $21,800. Any more gains might send the price towards the $22,200 level in the coming sessions.<\/p>\n
Fresh Decline in BTC?<\/p>\n
If bitcoin fails to clear the $21,000 resistance zone, it could start a fresh decline. An immediate support on the downside is near the $20,275 level and the trend line.<\/p>\n
The next major support is near the $20,000 level and the 100 hourly SMA. A downside break below the $20,000 support could spark another decline. In the stated case, the price could test $18,800.<\/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 above the 50 level.<\/p>\n
Major Support Levels \u2013 $20,275, followed by $20,000.<\/p>\n
Major Resistance Levels \u2013 $20,900, $21,000 and $22,000.<\/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-1680","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\/1680","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=1680"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/1680\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=1680"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=1680"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=1680"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}