Bitcoin started a decent increase above the $20,000 resistance against the US Dollar. BTC is trading above $20,500 and eying more gains towards the $22,000 level.<\/p>\n
Bitcoin is slowly moving higher above the $20,000 resistance zone.
\nThe price is now trading above the $20,200 level and testing the 100 hourly simple moving average.
\nThere is a key bullish trend line forming with support near $20,400 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair might gain bullish momentum if it clears the $20,750 and $21,000 levels.<\/p>\n
Bitcoin Price Gains Momentum<\/p>\n
Bitcoin price formed a base above the $19,000 level and started a decent increase. The price traded above the $20,000 resistance zone to move into a positive zone.<\/p>\n
There was a clear move above the 23.6% Fib retracement level of the downward move from the $22,500 swing high to $18,916 low. At first, the price saw a rejection near the $20,500 level. However, the bulls were active near the $19,600 level.<\/p>\n
Bitcoin started another increase above the $20,500 resistance zone. It is now trading above the $20,200 level and testing the 100 hourly simple moving average. There is also a key bullish trend line forming with support near $20,400 on the hourly chart of the BTC\/USD pair.<\/p>\n
On the upside, the price could resistance near the $20,750 level. It is near the 50% Fib retracement level of the downward move from the $22,500 swing high to $18,916 low. The next key resistance is near the $21,000 zone.<\/p>\n\n
Source: BTCUSD on TradingView.com<\/p>\n
A close above the $21,000 resistance zone could set the pace for a decent increase. In the stated case, the price may perhaps rise towards the $21,650 level. The next major resistance sits near the $22,000 level.<\/p>\n
Fresh Decline in BTC?<\/p>\n
If bitcoin fails to clear the $20,750 resistance zone, it could start a fresh decline. An immediate support on the downside is near the $20,500 level.<\/p>\n
The next major support now sits near the $20,400 level and the trend line. A close below the trend line support zone could accelerate losses. In the stated case, there is a risk of a move 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 above the 50 level.<\/p>\n
Major Support Levels \u2013 $20,400, followed by $20,000.<\/p>\n
Major Resistance Levels \u2013 $20,750, $21,000 and $21,650.<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
Bitcoin started a decent increase above the $20,000 resistance against the US Dollar. BTC is trading above $20,500 and eying more gains towards the $22,000 level.<\/p>\n
Bitcoin is slowly moving higher above the $20,000 resistance zone.
\nThe price is now trading above the $20,200 level and testing the 100 hourly simple moving average.
\nThere is a key bullish trend line forming with support near $20,400 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair might gain bullish momentum if it clears the $20,750 and $21,000 levels.<\/p>\n
Bitcoin Price Gains Momentum<\/p>\n
Bitcoin price formed a base above the $19,000 level and started a decent increase. The price traded above the $20,000 resistance zone to move into a positive zone.<\/p>\n
There was a clear move above the 23.6% Fib retracement level of the downward move from the $22,500 swing high to $18,916 low. At first, the price saw a rejection near the $20,500 level. However, the bulls were active near the $19,600 level.<\/p>\n
Bitcoin started another increase above the $20,500 resistance zone. It is now trading above the $20,200 level and testing the 100 hourly simple moving average. There is also a key bullish trend line forming with support near $20,400 on the hourly chart of the BTC\/USD pair.<\/p>\n
On the upside, the price could resistance near the $20,750 level. It is near the 50% Fib retracement level of the downward move from the $22,500 swing high to $18,916 low. The next key resistance is near the $21,000 zone.<\/p>\n
Source: BTCUSD on TradingView.com<\/p>\n
A close above the $21,000 resistance zone could set the pace for a decent increase. In the stated case, the price may perhaps rise towards the $21,650 level. The next major resistance sits near the $22,000 level.<\/p>\n
Fresh Decline in BTC?<\/p>\n
If bitcoin fails to clear the $20,750 resistance zone, it could start a fresh decline. An immediate support on the downside is near the $20,500 level.<\/p>\n
The next major support now sits near the $20,400 level and the trend line. A close below the trend line support zone could accelerate losses. In the stated case, there is a risk of a move 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 above the 50 level.<\/p>\n
Major Support Levels \u2013 $20,400, followed by $20,000.<\/p>\n
Major Resistance Levels \u2013 $20,750, $21,000 and $21,650.<\/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-3452","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\/3452","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=3452"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/3452\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=3452"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=3452"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=3452"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}