Bitcoin started a steady increase above the $21,000 resistance against the US Dollar. BTC could rise further towards $22,000 if it stays above the $20,500 support.<\/p>\n
Bitcoin is slowly moving higher above the $21,000 resistance zone.
\nThe price is now trading above the $20,800 level and testing the 100 hourly simple moving average.
\nThere was a break above a short-term bearish trend line with resistance near $21,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair might gain bullish momentum if it clears the $21,500 and $21,600 levels.<\/p>\n
Bitcoin Price Shows Positive Signs<\/p>\n
Bitcoin price formed a base above the $19,200 level and started a decent increase. The price traded above the $20,500 resistance zone to move into a positive zone.<\/p>\n
The price even gained pace above the $21,000 level and settled above the 100 hourly simple moving average. A high was formed near $21,664 before there was a downside correction. The price traded below the $21,000 level, but the bulls were active near the $20,750 zone and the 100 hourly simple moving average.<\/p>\n
A low was formed near $20,748 and the price is now rising. It broke the 23.6% Fib retracement level of the downward move from the $21,664 swing high to $20,748 low.<\/p>\n
There was also a break above a short-term bearish trend line with resistance near $21,000 on the hourly chart of the BTC\/USD pair. On the upside, bitcoin price could resistance near the $21,200 level. It is near the 50% Fib retracement level of the downward move from the $21,664 swing high to $20,748 low.<\/p>\n\n
Source: BTCUSD on TradingView.com<\/p>\n
The next key resistance is near the $21,500 zone. A close above the $21,500 resistance zone could set the pace for a decent increase. In the stated case, the price may perhaps rise towards the $22,000 level. The next major resistance sits near the $22,800 level.<\/p>\n
Dips Supported in BTC?<\/p>\n
If bitcoin fails to clear the $21,500 resistance zone, it could start a downside correction. An immediate support on the downside is near the $21,000 level.<\/p>\n
The next major support now sits near the $20,750 level and the 100 hourly SMA. A clear move below the $20,750 support might send the price towards $20,500.<\/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 $21,000, followed by $20,750.<\/p>\n
Major Resistance Levels \u2013 $21,200, $21,500 and $22,000.<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
Bitcoin started a steady increase above the $21,000 resistance against the US Dollar. BTC could rise further towards $22,000 if it stays above the $20,500 support.<\/p>\n
Bitcoin is slowly moving higher above the $21,000 resistance zone.
\nThe price is now trading above the $20,800 level and testing the 100 hourly simple moving average.
\nThere was a break above a short-term bearish trend line with resistance near $21,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair might gain bullish momentum if it clears the $21,500 and $21,600 levels.<\/p>\n
Bitcoin Price Shows Positive Signs<\/p>\n
Bitcoin price formed a base above the $19,200 level and started a decent increase. The price traded above the $20,500 resistance zone to move into a positive zone.<\/p>\n
The price even gained pace above the $21,000 level and settled above the 100 hourly simple moving average. A high was formed near $21,664 before there was a downside correction. The price traded below the $21,000 level, but the bulls were active near the $20,750 zone and the 100 hourly simple moving average.<\/p>\n
A low was formed near $20,748 and the price is now rising. It broke the 23.6% Fib retracement level of the downward move from the $21,664 swing high to $20,748 low.<\/p>\n
There was also a break above a short-term bearish trend line with resistance near $21,000 on the hourly chart of the BTC\/USD pair. On the upside, bitcoin price could resistance near the $21,200 level. It is near the 50% Fib retracement level of the downward move from the $21,664 swing high to $20,748 low.<\/p>\n
Source: BTCUSD on TradingView.com<\/p>\n
The next key resistance is near the $21,500 zone. A close above the $21,500 resistance zone could set the pace for a decent increase. In the stated case, the price may perhaps rise towards the $22,000 level. The next major resistance sits near the $22,800 level.<\/p>\n
Dips Supported in BTC?<\/p>\n
If bitcoin fails to clear the $21,500 resistance zone, it could start a downside correction. An immediate support on the downside is near the $21,000 level.<\/p>\n
The next major support now sits near the $20,750 level and the 100 hourly SMA. A clear move below the $20,750 support might send the price towards $20,500.<\/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 $21,000, followed by $20,750.<\/p>\n
Major Resistance Levels \u2013 $21,200, $21,500 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-3592","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\/3592","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=3592"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/3592\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=3592"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=3592"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=3592"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}