Bitcoin started a fresh increase above the $22,000 resistance zone against the US Dollar. BTC must clear $23,000 and $23,700 to continue higher.<\/p>\n
Bitcoin started a fresh increase after the fed hiked interest rates by 75bps.
\nThe price is now trading above the $22,500 level and the 100 hourly simple moving average.
\nThere was a break above a major bearish trend line with resistance near $21,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair must clear the $23,000 barrier to continue higher in the near term.<\/p>\n
Bitcoin Price Starts Fresh Increase<\/p>\n
Bitcoin price stayed above the $21,000 support zone. It formed a base above the $21,000 level and started a fresh increase. The recent fed interest rate hike triggered a sharp upward move above the $22,000 resistance.<\/p>\n
The price was able to clear the 50% Fib retracement level of the key drop from the $23,744 swing high to $20,750 low. Besides, there was a break above a major bearish trend line with resistance near $21,800 on the hourly chart of the BTC\/USD pair.<\/p>\n
Bitcoin price is now trading above the $22,500 level and the 100 hourly simple moving average. It seems like the price is facing a strong resistance near the $23,000 zone.<\/p>\n\n
Source: BTCUSD on TradingView.com<\/p>\n
The 76.4% Fib retracement level of the key drop from the $23,744 swing high to $20,750 low is also acting as a resistance. The next key resistance is near the $23,750 zone. A close above the $23,750 resistance zone could set the pace for a strong increase. 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
More Losses in BTC?<\/p>\n
If bitcoin fails to clear the $23,000 resistance zone, it could start a downside correction. An immediate support on the downside is near the $22,500 level.<\/p>\n
The next major support now sits near the $22,150 and $22,000 levels. A close below the $22,000 support zone might restart downtrend. In the stated case, the price might revisit the $21,000 support in the near term.<\/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 in the overbought zone.<\/p>\n
Major Support Levels \u2013 $22,500, followed by $22,000.<\/p>\n
Major Resistance Levels \u2013 $23,000, $23,550 and $23,750.<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
Bitcoin started a fresh increase above the $22,000 resistance zone against the US Dollar. BTC must clear $23,000 and $23,700 to continue higher.<\/p>\n
Bitcoin started a fresh increase after the fed hiked interest rates by 75bps.
\nThe price is now trading above the $22,500 level and the 100 hourly simple moving average.
\nThere was a break above a major bearish trend line with resistance near $21,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair must clear the $23,000 barrier to continue higher in the near term.<\/p>\n
Bitcoin Price Starts Fresh Increase<\/p>\n
Bitcoin price stayed above the $21,000 support zone. It formed a base above the $21,000 level and started a fresh increase. The recent fed interest rate hike triggered a sharp upward move above the $22,000 resistance.<\/p>\n
The price was able to clear the 50% Fib retracement level of the key drop from the $23,744 swing high to $20,750 low. Besides, there was a break above a major bearish trend line with resistance near $21,800 on the hourly chart of the BTC\/USD pair.<\/p>\n
Bitcoin price is now trading above the $22,500 level and the 100 hourly simple moving average. It seems like the price is facing a strong resistance near the $23,000 zone.<\/p>\n
Source: BTCUSD on TradingView.com<\/p>\n
The 76.4% Fib retracement level of the key drop from the $23,744 swing high to $20,750 low is also acting as a resistance. The next key resistance is near the $23,750 zone. A close above the $23,750 resistance zone could set the pace for a strong increase. 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
More Losses in BTC?<\/p>\n
If bitcoin fails to clear the $23,000 resistance zone, it could start a downside correction. An immediate support on the downside is near the $22,500 level.<\/p>\n
The next major support now sits near the $22,150 and $22,000 levels. A close below the $22,000 support zone might restart downtrend. In the stated case, the price might revisit the $21,000 support in the near term.<\/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 in the overbought zone.<\/p>\n
Major Support Levels \u2013 $22,500, followed by $22,000.<\/p>\n
Major Resistance Levels \u2013 $23,000, $23,550 and $23,750.<\/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-4309","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\/4309","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=4309"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/4309\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=4309"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=4309"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=4309"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}