Bitcoin is showing positive signs above the $21,000 zone against the US Dollar. BTC might start a fresh increase and could even clear the $21,750 resistance zone.<\/p>\n
Bitcoin remains well supported above the $21,000 and $20,500 levels.
\nThe price is now above the $20,800 level and the 100 hourly simple moving average.
\nThere was a break below a key bullish trend line with support near $21,300 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could gain bullish momentum if it stays above $20,500 and the 100 hourly SMA.<\/p>\n
Bitcoin Price Remains Supported<\/p>\n
Bitcoin price started a decent increase above the $20,000 resistance zone. The price was able to clear the $20,500 level to move into a positive zone.<\/p>\n
There was a steady move above the $21,000 level and the 100 hourly simple moving average. However, the bears were again active near the $21,700 and $21,750 levels. A high was formed near $21,780 and the price started a downside correction.<\/p>\n
Bitcoin traded below the $21,500 level. There was a break below the 23.6% Fib retracement level of the upward move from the $19,750 swing low to $21,780 high.<\/p>\n
Besides, there was a break below a key bullish trend line with support near $21,300 on the hourly chart of the BTC\/USD pair. It is now consolidating above the $21,000 level and the 100 hourly simple moving average. An immediate resistance on the upside is near the $21,250 level.<\/p>\n\n
Source: BTCUSD on TradingView.com<\/p>\n
The next key resistance is near the $21,750 level. A clear move above the $21,750 level might start a decent increase. In the stated case, the price could rise above the $22,200 level. Any more gains could send the price towards the $23,000 resistance zone.<\/p>\n
Fresh Decline in BTC?<\/p>\n
If bitcoin fails to clear the $21,750 resistance zone, it could start another decline. An immediate support on the downside is near the $21,000 level and the 100 hourly SMA.<\/p>\n
The first major support is near the $20,750 level. It is near the 50% Fib retracement level of the upward move from the $19,750 swing low to $21,780 high. A downside break below the $20,750 support could put a lot of pressure on the bulls in the near term. In the stated case, the price might slide towards the $20,000 level.<\/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 just below the 50 level.<\/p>\n
Major Support Levels \u2013 $21,000, followed by $20,750.<\/p>\n
Major Resistance Levels \u2013 $21,250, $21,750 and $23,000.<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
Bitcoin is showing positive signs above the $21,000 zone against the US Dollar. BTC might start a fresh increase and could even clear the $21,750 resistance zone.<\/p>\n
Bitcoin remains well supported above the $21,000 and $20,500 levels.
\nThe price is now above the $20,800 level and the 100 hourly simple moving average.
\nThere was a break below a key bullish trend line with support near $21,300 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could gain bullish momentum if it stays above $20,500 and the 100 hourly SMA.<\/p>\n
Bitcoin Price Remains Supported<\/p>\n
Bitcoin price started a decent increase above the $20,000 resistance zone. The price was able to clear the $20,500 level to move into a positive zone.<\/p>\n
There was a steady move above the $21,000 level and the 100 hourly simple moving average. However, the bears were again active near the $21,700 and $21,750 levels. A high was formed near $21,780 and the price started a downside correction.<\/p>\n
Bitcoin traded below the $21,500 level. There was a break below the 23.6% Fib retracement level of the upward move from the $19,750 swing low to $21,780 high.<\/p>\n
Besides, there was a break below a key bullish trend line with support near $21,300 on the hourly chart of the BTC\/USD pair. It is now consolidating above the $21,000 level and the 100 hourly simple moving average. An immediate resistance on the upside is near the $21,250 level.<\/p>\n
Source: BTCUSD on TradingView.com<\/p>\n
The next key resistance is near the $21,750 level. A clear move above the $21,750 level might start a decent increase. In the stated case, the price could rise above the $22,200 level. Any more gains could send the price towards the $23,000 resistance zone.<\/p>\n
Fresh Decline in BTC?<\/p>\n
If bitcoin fails to clear the $21,750 resistance zone, it could start another decline. An immediate support on the downside is near the $21,000 level and the 100 hourly SMA.<\/p>\n
The first major support is near the $20,750 level. It is near the 50% Fib retracement level of the upward move from the $19,750 swing low to $21,780 high. A downside break below the $20,750 support could put a lot of pressure on the bulls in the near term. In the stated case, the price might slide towards the $20,000 level.<\/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 just below the 50 level.<\/p>\n
Major Support Levels \u2013 $21,000, followed by $20,750.<\/p>\n
Major Resistance Levels \u2013 $21,250, $21,750 and $23,000.<\/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-2051","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\/2051","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=2051"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/2051\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=2051"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=2051"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=2051"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}