Bitcoin gained pace and cleared the $24,000 resistance against the US Dollar. BTC could rise further towards $25,000 if it stays above the $23,000 support.<\/p>\n
Bitcoin remained in a positive zone and climbed above the $24,000 resistance zone.
\nThe price is now trading above the $23,000 level and testing the 100 hourly simple moving average.
\nThere is a key bullish trend line forming with support near $23,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair might continue to rise if it clears the $23,750 and $24,000 levels.<\/p>\n
Bitcoin Price Remains In Uptrend<\/p>\n
Bitcoin price started a steady increase after it cleared the $23,000 resistance zone. BTC gained pace for a move above the $23,500 resistance level.<\/p>\n
The price even broke the $23,750 level and settled above the 100 hourly simple moving average. Finally, it spiked above the $24,000 level. A high was formed near $24,264 and the price is now consolidating gains. There was a minor downside correction below the $23,750 level.<\/p>\n
Bitcoin traded below the 38.2% Fib retracement level of the upward move from the $21,405 swing low to $24,264 high. However, the bulls were active near the $23,000 support zone.<\/p>\n
There is also a key bullish trend line forming with support near $23,200 on the hourly chart of the BTC\/USD pair. On the upside, bitcoin price could face resistance near the $23,750 level. The next key resistance is near the $24,000 zone.<\/p>\n\n
Source: BTCUSD on TradingView.com<\/p>\n
A close above the $24,000 resistance zone could set the pace for more gains. In the stated case, the price may perhaps rise towards the $24,500 level. The next major resistance sits near the $25,000 level.<\/p>\n
Dips Supported in BTC?<\/p>\n
If bitcoin fails to clear the $23,750 resistance zone, it could start a downside correction. An immediate support on the downside is near the $23,200 level.<\/p>\n
The next major support now sits near the $23,000 level and the trend line zone. It is also close to the 50% Fib retracement level of the upward move from the $21,405 swing low to $24,264 high. A clear move below the trend line support might send the price towards $22,250 and the 100 hourly SMA.<\/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 $22,750.<\/p>\n
Major Resistance Levels \u2013 $23,750, $24,000 and $25,000.<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
Bitcoin gained pace and cleared the $24,000 resistance against the US Dollar. BTC could rise further towards $25,000 if it stays above the $23,000 support.<\/p>\n
Bitcoin remained in a positive zone and climbed above the $24,000 resistance zone.
\nThe price is now trading above the $23,000 level and testing the 100 hourly simple moving average.
\nThere is a key bullish trend line forming with support near $23,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair might continue to rise if it clears the $23,750 and $24,000 levels.<\/p>\n
Bitcoin Price Remains In Uptrend<\/p>\n
Bitcoin price started a steady increase after it cleared the $23,000 resistance zone. BTC gained pace for a move above the $23,500 resistance level.<\/p>\n
The price even broke the $23,750 level and settled above the 100 hourly simple moving average. Finally, it spiked above the $24,000 level. A high was formed near $24,264 and the price is now consolidating gains. There was a minor downside correction below the $23,750 level.<\/p>\n
Bitcoin traded below the 38.2% Fib retracement level of the upward move from the $21,405 swing low to $24,264 high. However, the bulls were active near the $23,000 support zone.<\/p>\n
There is also a key bullish trend line forming with support near $23,200 on the hourly chart of the BTC\/USD pair. On the upside, bitcoin price could face resistance near the $23,750 level. The next key resistance is near the $24,000 zone.<\/p>\n
Source: BTCUSD on TradingView.com<\/p>\n
A close above the $24,000 resistance zone could set the pace for more gains. In the stated case, the price may perhaps rise towards the $24,500 level. The next major resistance sits near the $25,000 level.<\/p>\n
Dips Supported in BTC?<\/p>\n
If bitcoin fails to clear the $23,750 resistance zone, it could start a downside correction. An immediate support on the downside is near the $23,200 level.<\/p>\n
The next major support now sits near the $23,000 level and the trend line zone. It is also close to the 50% Fib retracement level of the upward move from the $21,405 swing low to $24,264 high. A clear move below the trend line support might send the price towards $22,250 and the 100 hourly SMA.<\/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 $22,750.<\/p>\n
Major Resistance Levels \u2013 $23,750, $24,000 and $25,000.<\/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-3854","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\/3854","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=3854"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/3854\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=3854"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=3854"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=3854"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}