Bitcoin is consolidating above the $19,500 support against the US Dollar. BTC could start a major increase considering the recent rise in ether.<\/p>\n
Bitcoin is still trading in range near the $20,000 zone and below the $20,500 resistance.
\nThe price is now trading below the $20,000 level and the 100 hourly simple moving average.
\nThere is a key bullish trend line forming with support near $19,700 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a decent increase unless there is a clear move below the $19,600 and $19,500 levels.<\/p>\n
Bitcoin Price Eyes Fresh Increase<\/p>\n
Bitcoin price remained in a range below the $20,500 and $20,550 resistance levels<\/a>. Recently, BTC formed a support base above the $19,600 level and started an upside correction.<\/p>\n There was a move above the $19,800 resistance level and the 100 hourly simple moving average<\/a>. The bulls were able to push the price above the 50% Fib retracement level of the downward move from the $20,398 swing high to $19,600 low.<\/p>\n Finally, there was a spike above the $20,000 resistance. However, the bears were active near the $20,100 zone. Bitcoin price failed to clear the 61.8% Fib retracement level of the downward move from the $20,398 swing high to $19,600 low.<\/p>\n It is now trading below the $20,000 level and the 100 hourly simple moving average. There is also a key bullish trend line forming with support near $19,700 on the hourly chart of the BTC\/USD pair.<\/p>\n <\/a><\/p>\n Source: BTCUSD on TradingView.com<\/a><\/p>\n On the upside, an immediate resistance is near the $19,900 level and the 100 hourly simple moving average. The next major resistance sits near the $20,100 level. The main resistance is still near the $20,400 and $20,500 levels. A clear move above the $20,500 resistance might send the price towards $21,200. Any more gains might start push the price towards the $22,000 resistance zone.<\/p>\n Downside Break in BTC?<\/p>\n If bitcoin fails to clear the $20,400 resistance zone, it could start another decline. An immediate support on the downside is near the $19,700 zone and the trend line.<\/p>\n The next major support sits near the $19,600 level. The main support sits near the $19,500 level. A clear move below the $19,500 support might start a major decline. In the stated case, the price may perhaps test the $18,500 support.<\/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 near the 50 level.<\/p>\n Major Support Levels \u2013 $19,700, followed by $19,500.<\/p>\n Major Resistance Levels \u2013 $20,000, $20,400 and $20,500.<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Bitcoin is consolidating above the $19,500 support against the US Dollar. BTC could start a major increase considering the recent rise in ether.<\/p>\n Bitcoin is still trading in range near the $20,000 zone and below the $20,500 resistance. Bitcoin Price Eyes Fresh Increase<\/p>\n Bitcoin price remained in a range below the $20,500 and $20,550 resistance levels<\/a>. Recently, BTC formed a support base above the $19,600 level and started an upside correction.<\/p>\n There was a move above the $19,800 resistance level and the 100 hourly simple moving average<\/a>. The bulls were able to push the price above the 50% Fib retracement level of the downward move from the $20,398 swing high to $19,600 low.<\/p>\n Finally, there was a spike above the $20,000 resistance. However, the bears were active near the $20,100 zone. Bitcoin price failed to clear the 61.8% Fib retracement level of the downward move from the $20,398 swing high to $19,600 low.<\/p>\n It is now trading below the $20,000 level and the 100 hourly simple moving average. There is also a key bullish trend line forming with support near $19,700 on the hourly chart of the BTC\/USD pair.<\/p>\n
\nThe price is now trading below the $20,000 level and the 100 hourly simple moving average.
\nThere is a key bullish trend line forming with support near $19,700 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a decent increase unless there is a clear move below the $19,600 and $19,500 levels.<\/p>\n
![<\/a><\/p>\nSource: BTCUSD on TradingView.com<\/a><\/p>\nOn the upside, an immediate resistance is near the $19,900 level and the 100 hourly simple moving average. The next major resistance sits near the $20,100 level. The main resistance is still near the $20,400 and $20,500 levels. A clear move above the $20,500 resistance might send the price towards $21,200. Any more gains might start push the price towards the $22,000 resistance zone.<\/p>\nDownside Break in BTC?<\/p>\nIf bitcoin fails to clear the $20,400 resistance zone, it could start another decline. An immediate support on the downside is near the $19,700 zone and the trend line.<\/p>\nThe next major support sits near the $19,600 level. The main support sits near the $19,500 level. A clear move below the $19,500 support might start a major decline. In the stated case, the price may perhaps test the $18,500 support.<\/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 near the 50 level.<\/p>\nMajor Support Levels \u2013 $19,700, followed by $19,500.<\/p>\nMajor Resistance Levels \u2013 $20,000, $20,400 and $20,500.<\/p>","protected":false},"excerpt":{"rendered":"<\/p>\nBitcoin is consolidating above the $19,500 support against the US Dollar. BTC could start a major increase considering the recent rise in ether.<\/p>\nBitcoin is still trading in range near the $20,000 zone and below the $20,500 resistance.\nThe price is now trading below the $20,000 level and the 100 hourly simple moving average.\nThere is a key bullish trend line forming with support near $19,700 on the hourly chart of the BTC\/USD pair (data feed from Kraken).\nThe pair could start a decent increase unless there is a clear move below the $19,600 and $19,500 levels.<\/p>\nBitcoin Price Eyes Fresh Increase<\/p>\nBitcoin price remained in a range below the $20,500 and $20,550 resistance levels<\/a>. Recently, BTC formed a support base above the $19,600 level and started an upside correction.<\/p>\nThere was a move above the $19,800 resistance level and the 100 hourly simple moving average<\/a>. The bulls were able to push the price above the 50% Fib retracement level of the downward move from the $20,398 swing high to $19,600 low.<\/p>\nFinally, there was a spike above the $20,000 resistance. However, the bears were active near the $20,100 zone. Bitcoin price failed to clear the 61.8% Fib retracement level of the downward move from the $20,398 swing high to $19,600 low.<\/p>\nIt is now trading below the $20,000 level and the 100 hourly simple moving average. There is also a key bullish trend line forming with support near $19,700 on the hourly chart of the BTC\/USD pair.<\/p>\n<\/a><\/p>\nSource: BTCUSD on TradingView.com<\/a><\/p>\nOn the upside, an immediate resistance is near the $19,900 level and the 100 hourly simple moving average. The next major resistance sits near the $20,100 level. The main resistance is still near the $20,400 and $20,500 levels. A clear move above the $20,500 resistance might send the price towards $21,200. Any more gains might start push the price towards the $22,000 resistance zone.<\/p>\nDownside Break in BTC?<\/p>\nIf bitcoin fails to clear the $20,400 resistance zone, it could start another decline. An immediate support on the downside is near the $19,700 zone and the trend line.<\/p>\nThe next major support sits near the $19,600 level. The main support sits near the $19,500 level. A clear move below the $19,500 support might start a major decline. In the stated case, the price may perhaps test the $18,500 support.<\/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 near the 50 level.<\/p>\nMajor Support Levels \u2013 $19,700, followed by $19,500.<\/p>\nMajor Resistance Levels \u2013 $20,000, $20,400 and $20,500.<\/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-7020","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\/7020","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=7020"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/7020\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=7020"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=7020"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=7020"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Bitcoin-5.png\"){kind=link}