Bitcoin started a downside correction from the $24,000 resistance against the US Dollar. BTC is finding bids near $22,500 and might start a fresh increase.<\/p>\n
Bitcoin started a downside correction and traded below the $23,000 level.
\nThe price is now trading above the $22,000 level and testing the 100 hourly simple moving average.
\nThere was a break above a key bearish trend line with resistance near $22,750 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair might continue to rise if it stays above $22,500 and the 100 hourly SMA.<\/p>\n
Bitcoin Price Remains Supported<\/p>\n
Bitcoin price gained pace and spiked above the $24,000 resistance zone<\/a>. However, the bears appeared near $24,250. A high was formed near $24,264 and the price started a downside correction.<\/p>\n There was a move below the $24,000 and $23,500 levels. The price declined below the 38.2% Fib retracement level of the upward move from the $20,769 swing low to $24,264 high. Besides, there was a spike below the $23,000 level.<\/p>\n Bitcoin found support near the $22,500 zone and the 100 hourly simple moving average<\/a>. It started a decent upward move and climbed above $23,000.<\/p>\n There was a break above a key bearish trend line with resistance near $22,750 on the hourly chart of the BTC\/USD pair. On the upside, bitcoin price could face resistance near the $23,440 level. The next key resistance is near the $23,880 zone.<\/p>\n <\/a><\/p>\n Source: BTCUSD on TradingView.com<\/a><\/p>\n A close above the $23,880 resistance zone could set the pace for more gains. In the stated case, the price may perhaps rise towards the $24,250 level. The next major resistance sits near the $25,000 level.<\/p>\n Downside Break in BTC?<\/p>\n If bitcoin fails to clear the $23,880 resistance zone, it could start a downside correction. An immediate support on the downside is near the $22,750 level and the 100 hourly SMA.<\/p>\n The next major support now sits near the $22,500 level. A clear break and close below the $22,500 support zone might send the price towards $21,450 in the near term or even $21,000.<\/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 still above the 50 level.<\/p>\n Major Support Levels \u2013 $22,750, followed by $22,500.<\/p>\n Major Resistance Levels \u2013 $23,440, $23,880 and $24,250.<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Bitcoin started a downside correction from the $24,000 resistance against the US Dollar. BTC is finding bids near $22,500 and might start a fresh increase.<\/p>\n Bitcoin started a downside correction and traded below the $23,000 level. Bitcoin Price Remains Supported<\/p>\n Bitcoin price gained pace and spiked above the $24,000 resistance zone<\/a>. However, the bears appeared near $24,250. A high was formed near $24,264 and the price started a downside correction.<\/p>\n There was a move below the $24,000 and $23,500 levels. The price declined below the 38.2% Fib retracement level of the upward move from the $20,769 swing low to $24,264 high. Besides, there was a spike below the $23,000 level.<\/p>\n Bitcoin found support near the $22,500 zone and the 100 hourly simple moving average<\/a>. It started a decent upward move and climbed above $23,000.<\/p>\n There was a break above a key bearish trend line with resistance near $22,750 on the hourly chart of the BTC\/USD pair. On the upside, bitcoin price could face resistance near the $23,440 level. The next key resistance is near the $23,880 zone.<\/p>\n
\nThe price is now trading above the $22,000 level and testing the 100 hourly simple moving average.
\nThere was a break above a key bearish trend line with resistance near $22,750 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair might continue to rise if it stays above $22,500 and the 100 hourly SMA.<\/p>\n
![<\/a><\/p>\nSource: BTCUSD on TradingView.com<\/a><\/p>\nA close above the $23,880 resistance zone could set the pace for more gains. In the stated case, the price may perhaps rise towards the $24,250 level. The next major resistance sits near the $25,000 level.<\/p>\nDownside Break in BTC?<\/p>\nIf bitcoin fails to clear the $23,880 resistance zone, it could start a downside correction. An immediate support on the downside is near the $22,750 level and the 100 hourly SMA.<\/p>\nThe next major support now sits near the $22,500 level. A clear break and close below the $22,500 support zone might send the price towards $21,450 in the near term or even $21,000.<\/p>\nTechnical indicators:<\/p>\nHourly MACD \u2013 The MACD is now losing pace in the bullish zone.<\/p>\nHourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is still above the 50 level.<\/p>\nMajor Support Levels \u2013 $22,750, followed by $22,500.<\/p>\nMajor Resistance Levels \u2013 $23,440, $23,880 and $24,250.<\/p>","protected":false},"excerpt":{"rendered":"<\/p>\nBitcoin started a downside correction from the $24,000 resistance against the US Dollar. BTC is finding bids near $22,500 and might start a fresh increase.<\/p>\nBitcoin started a downside correction and traded below the $23,000 level.\nThe price is now trading above the $22,000 level and testing the 100 hourly simple moving average.\nThere was a break above a key bearish trend line with resistance near $22,750 on the hourly chart of the BTC\/USD pair (data feed from Kraken).\nThe pair might continue to rise if it stays above $22,500 and the 100 hourly SMA.<\/p>\nBitcoin Price Remains Supported<\/p>\nBitcoin price gained pace and spiked above the $24,000 resistance zone<\/a>. However, the bears appeared near $24,250. A high was formed near $24,264 and the price started a downside correction.<\/p>\nThere was a move below the $24,000 and $23,500 levels. The price declined below the 38.2% Fib retracement level of the upward move from the $20,769 swing low to $24,264 high. Besides, there was a spike below the $23,000 level.<\/p>\nBitcoin found support near the $22,500 zone and the 100 hourly simple moving average<\/a>. It started a decent upward move and climbed above $23,000.<\/p>\nThere was a break above a key bearish trend line with resistance near $22,750 on the hourly chart of the BTC\/USD pair. On the upside, bitcoin price could face resistance near the $23,440 level. The next key resistance is near the $23,880 zone.<\/p>\n<\/a><\/p>\nSource: BTCUSD on TradingView.com<\/a><\/p>\nA close above the $23,880 resistance zone could set the pace for more gains. In the stated case, the price may perhaps rise towards the $24,250 level. The next major resistance sits near the $25,000 level.<\/p>\nDownside Break in BTC?<\/p>\nIf bitcoin fails to clear the $23,880 resistance zone, it could start a downside correction. An immediate support on the downside is near the $22,750 level and the 100 hourly SMA.<\/p>\nThe next major support now sits near the $22,500 level. A clear break and close below the $22,500 support zone might send the price towards $21,450 in the near term or even $21,000.<\/p>\nTechnical indicators:<\/p>\nHourly MACD \u2013 The MACD is now losing pace in the bullish zone.<\/p>\nHourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is still above the 50 level.<\/p>\nMajor Support Levels \u2013 $22,750, followed by $22,500.<\/p>\nMajor Resistance Levels \u2013 $23,440, $23,880 and $24,250.<\/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-3932","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\/3932","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=3932"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/3932\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=3932"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=3932"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=3932"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/07\/Bitcoin-17.png\"){kind=link}