{"id":16898,"date":"2023-01-26T03:52:38","date_gmt":"2023-01-26T07:52:38","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=16898"},"modified":"2023-01-26T03:52:38","modified_gmt":"2023-01-26T07:52:38","slug":"bitcoin-price-resumes-increase-as-the-bulls-aim-larger-rally-to-25k","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/01\/26\/bitcoin-price-resumes-increase-as-the-bulls-aim-larger-rally-to-25k\/","title":{"rendered":"Bitcoin Price Resumes Increase as The Bulls Aim Larger Rally To $25K"},"content":{"rendered":"

Bitcoin price started a fresh increase from the $22,400 support zone. BTC climbed to a new yearly high and now aims more upsides above $24,000.<\/em><\/p>\n

Bitcoin started a fresh increase after forming a base near the $22,400 support zone.
\nThe price is trading above $23,000 and the 100 hourly simple moving average.
\nThere was a break above a major bearish trend line with resistance near $23,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a fresh increase if it stays above the $23,000 support zone.<\/p>\n

Bitcoin Price Restarts Increase<\/h2>\n

Bitcoin price saw a downside correction below the $23,000 level. However, BTC remained well bid near the $22,400 support zone. A low was formed near $22,341 and the price started a fresh increase<\/a>.<\/p>\n

There was a clear move above the $23,000 resistance zone. Besides, there was a break above a major bearish trend line with resistance near $23,000 on the hourly chart of the BTC\/USD pair. The pair surged to a new yearly high at $23,829 and is currently correcting gains.<\/p>\n

There was a move below the 50% Fib retracement level of the recent increase from the $22,341 swing low to $23,829 high. However, the bulls appeared near the $23,200 support zone.<\/p>\n

Bitcoin price is now trading above $23,000 and the 100 hourly simple moving average. It is also above the 61.8% Fib retracement level of the recent increase from the $22,341 swing low to $23,829 high. An immediate resistance is near the $23,400 level.<\/p>\n

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

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

The next major resistance is near the $23,850 zone, above which the price might gain bullish momentum. In the stated case, the price may perhaps rise towards the $24,200 level. The next resistance could be near the $24,500 level. Any more gains might send btc price towards the $25,000 level<\/a>.<\/p>\n

Dips Supported in BTC?<\/h2>\n

If bitcoin price fails to clear the $23,400 resistance, it could continue to move down. An immediate support on the downside is near the $23,000 zone.<\/p>\n

The next major support is near the $22,850 zone. A downside break below the $22,850 level might send the price towards the $22,500 level. Any more losses might send the price to $22,350 in the near term.<\/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 $23,000, followed by $22,850.<\/p>\n

Major Resistance Levels \u2013 $23,400, $23,850 and $24,200.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price started a fresh increase from the $22,400 support zone. BTC climbed to a new yearly high and now aims more upsides above $24,000.<\/em><\/p>\n

Bitcoin started a fresh increase after forming a base near the $22,400 support zone.
\nThe price is trading above $23,000 and the 100 hourly simple moving average.
\nThere was a break above a major bearish trend line with resistance near $23,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a fresh increase if it stays above the $23,000 support zone.<\/p>\n

Bitcoin Price Restarts Increase<\/h2>\n

Bitcoin price saw a downside correction below the $23,000 level. However, BTC remained well bid near the $22,400 support zone. A low was formed near $22,341 and the price started a fresh increase<\/a>.<\/p>\n

There was a clear move above the $23,000 resistance zone. Besides, there was a break above a major bearish trend line with resistance near $23,000 on the hourly chart of the BTC\/USD pair. The pair surged to a new yearly high at $23,829 and is currently correcting gains.<\/p>\n

There was a move below the 50% Fib retracement level of the recent increase from the $22,341 swing low to $23,829 high. However, the bulls appeared near the $23,200 support zone.<\/p>\n

Bitcoin price is now trading above $23,000 and the 100 hourly simple moving average. It is also above the 61.8% Fib retracement level of the recent increase from the $22,341 swing low to $23,829 high. An immediate resistance is near the $23,400 level.<\/p>\n

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

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

The next major resistance is near the $23,850 zone, above which the price might gain bullish momentum. In the stated case, the price may perhaps rise towards the $24,200 level. The next resistance could be near the $24,500 level. Any more gains might send btc price towards the $25,000 level<\/a>.<\/p>\n

Dips Supported in BTC?<\/h2>\n

If bitcoin price fails to clear the $23,400 resistance, it could continue to move down. An immediate support on the downside is near the $23,000 zone.<\/p>\n

The next major support is near the $22,850 zone. A downside break below the $22,850 level might send the price towards the $22,500 level. Any more losses might send the price to $22,350 in the near term.<\/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 $23,000, followed by $22,850.<\/p>\n

Major Resistance Levels \u2013 $23,400, $23,850 and $24,200.<\/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-16898","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\/16898","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=16898"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/16898\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=16898"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=16898"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=16898"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}