Bitcoin is struggling to gain pace above $21,500 against the US Dollar. BTC must clear the $22,500 resistance zone to avoid a fresh decline in the near term.<\/p>\n
Bitcoin is struggling to gain pace above the $21,500 and $21,600 levels.
\nThe price is now trading above the $21,500 level and the 100 hourly simple moving average.
\nThere is a key bearish trend line forming with resistance near $22,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a decent increase if there is a close above the $22,000 resistance zone.<\/p>\n
Bitcoin Price Faces Hurdles<\/p>\n
Bitcoin price started a minor upside correction<\/a> from the $21,000 support zone. BTC was able to slowly move higher above the $21,250 and $21,500 levels.<\/p>\n The price even broke the $21,650 level and the 100 hourly simple moving average. There was a clear move above the 23.6% Fib retracement level of the downward move from the $24,416 swing high to $20,797 low. However, the bulls struggled to gain strength for a push towards the $22,000 resistance.<\/p>\n Bitcoin price is now trading above the $21,500 level and the 100 hourly simple moving average<\/a>. On the upside, an immediate resistance is near the $21,750 and $21,800 levels.<\/p>\n The first major resistance on the upside sits near the $22,000 level. There is also a key bearish trend line forming with resistance near $22,000 on the hourly chart of the BTC\/USD pair. A clear move above the trend line resistance might send the price towards the $22,500 zone.<\/p>\n <\/a><\/p>\n Source: BTCUSD on TradingView.com<\/a><\/p>\n The next major resistance could be near the $22,650 zone. It is close to the 50% Fib retracement level of the downward move from the $24,416 swing high to $20,797 low. Any more gains might send the price towards the $24,000 resistance zone.<\/p>\n Fresh Decline in BTC?<\/p>\n If bitcoin fails to clear the $22,000 resistance zone, it could start another decline. An immediate support on the downside is near the $21,500 level and the 100 hourly simple moving average.<\/p>\n The next major support now sits near the $21,000 level. A close below the $21,000 support might start another decline in the near term. In the stated case, the price might decline towards the $20,000 level.<\/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 $21,500, followed by $21,000.<\/p>\n Major Resistance Levels \u2013 $21,750, $22,000 and $22,650.<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Bitcoin is struggling to gain pace above $21,500 against the US Dollar. BTC must clear the $22,500 resistance zone to avoid a fresh decline in the near term.<\/p>\n Bitcoin is struggling to gain pace above the $21,500 and $21,600 levels. Bitcoin Price Faces Hurdles<\/p>\n Bitcoin price started a minor upside correction<\/a> from the $21,000 support zone. BTC was able to slowly move higher above the $21,250 and $21,500 levels.<\/p>\n The price even broke the $21,650 level and the 100 hourly simple moving average. There was a clear move above the 23.6% Fib retracement level of the downward move from the $24,416 swing high to $20,797 low. However, the bulls struggled to gain strength for a push towards the $22,000 resistance.<\/p>\n Bitcoin price is now trading above the $21,500 level and the 100 hourly simple moving average<\/a>. On the upside, an immediate resistance is near the $21,750 and $21,800 levels.<\/p>\n The first major resistance on the upside sits near the $22,000 level. There is also a key bearish trend line forming with resistance near $22,000 on the hourly chart of the BTC\/USD pair. A clear move above the trend line resistance might send the price towards the $22,500 zone.<\/p>\n
\nThe price is now trading above the $21,500 level and the 100 hourly simple moving average.
\nThere is a key bearish trend line forming with resistance near $22,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a decent increase if there is a close above the $22,000 resistance zone.<\/p>\n
![<\/a><\/p>\nSource: BTCUSD on TradingView.com<\/a><\/p>\nThe next major resistance could be near the $22,650 zone. It is close to the 50% Fib retracement level of the downward move from the $24,416 swing high to $20,797 low. Any more gains might send the price towards the $24,000 resistance zone.<\/p>\nFresh Decline in BTC?<\/p>\nIf bitcoin fails to clear the $22,000 resistance zone, it could start another decline. An immediate support on the downside is near the $21,500 level and the 100 hourly simple moving average.<\/p>\nThe next major support now sits near the $21,000 level. A close below the $21,000 support might start another decline in the near term. In the stated case, the price might decline towards the $20,000 level.<\/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 now above the 50 level.<\/p>\nMajor Support Levels \u2013 $21,500, followed by $21,000.<\/p>\nMajor Resistance Levels \u2013 $21,750, $22,000 and $22,650.<\/p>","protected":false},"excerpt":{"rendered":"<\/p>\nBitcoin is struggling to gain pace above $21,500 against the US Dollar. BTC must clear the $22,500 resistance zone to avoid a fresh decline in the near term.<\/p>\nBitcoin is struggling to gain pace above the $21,500 and $21,600 levels.\nThe price is now trading above the $21,500 level and the 100 hourly simple moving average.\nThere is a key bearish trend line forming with resistance near $22,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).\nThe pair could start a decent increase if there is a close above the $22,000 resistance zone.<\/p>\nBitcoin Price Faces Hurdles<\/p>\nBitcoin price started a minor upside correction<\/a> from the $21,000 support zone. BTC was able to slowly move higher above the $21,250 and $21,500 levels.<\/p>\nThe price even broke the $21,650 level and the 100 hourly simple moving average. There was a clear move above the 23.6% Fib retracement level of the downward move from the $24,416 swing high to $20,797 low. However, the bulls struggled to gain strength for a push towards the $22,000 resistance.<\/p>\nBitcoin price is now trading above the $21,500 level and the 100 hourly simple moving average<\/a>. On the upside, an immediate resistance is near the $21,750 and $21,800 levels.<\/p>\nThe first major resistance on the upside sits near the $22,000 level. There is also a key bearish trend line forming with resistance near $22,000 on the hourly chart of the BTC\/USD pair. A clear move above the trend line resistance might send the price towards the $22,500 zone.<\/p>\n<\/a><\/p>\nSource: BTCUSD on TradingView.com<\/a><\/p>\nThe next major resistance could be near the $22,650 zone. It is close to the 50% Fib retracement level of the downward move from the $24,416 swing high to $20,797 low. Any more gains might send the price towards the $24,000 resistance zone.<\/p>\nFresh Decline in BTC?<\/p>\nIf bitcoin fails to clear the $22,000 resistance zone, it could start another decline. An immediate support on the downside is near the $21,500 level and the 100 hourly simple moving average.<\/p>\nThe next major support now sits near the $21,000 level. A close below the $21,000 support might start another decline in the near term. In the stated case, the price might decline towards the $20,000 level.<\/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 now above the 50 level.<\/p>\nMajor Support Levels \u2013 $21,500, followed by $21,000.<\/p>\nMajor Resistance Levels \u2013 $21,750, $22,000 and $22,650.<\/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-6355","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\/6355","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=6355"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/6355\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=6355"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=6355"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=6355"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/08\/Bitcoin-19.png\"){kind=link}