Bitcoin gained pace and even spiked above the $22,000 resistance against the US Dollar. BTC is correcting gains, but dips might be limited below $21,500.<\/p>\n
Bitcoin was able to clear the $21,200 and $21,500 resistance levels.
\nThe price is now trading above $21,500 and the 100 hourly simple moving average.
\nThere is a key bullish trend lien forming with support near $21,600 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair is correcting gains, but dips might be limited below the $21,500 level.<\/p>\n
Bitcoin Price Starts Fresh Rally<\/p>\n
Bitcoin price remained well bid above the $20,000 level and started a fresh increase<\/a>. There was a clear move above the $21,000 and $21,200 resistance levels.<\/p>\n The price even surpassed the $21,500 resistance and spiked above the $22,000 resistance. A high was formed near $22,347 and the price recently started a downside correction. There was a move below the $22,000 and $21,850 levels.<\/p>\n Bitcoin price traded below the 23.6% Fib retracement level of the recent increase from the $21,180 swing low to $22,347 high. It is now trading above $21,500 and the 100 hourly simple moving average<\/a>. Besides, there is a key bullish trend lien forming with support near $21,600 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 $22,000 level. The next major resistance sits near the $22,350 level. A clear move above the $22,350 resistance might start another steady increase. In the stated case, the price may perhaps rise towards $22,800. Any more gains might send the price towards the $23,200 resistance zone.<\/p>\n Dips Limited in BTC?<\/p>\n If bitcoin fails to gain pace above the $22,000 zone, it could start a downside correction. An immediate support on the downside is near the $21,700 zone.<\/p>\n The 50% Fib retracement level of the recent increase from the $21,180 swing low to $22,347 high is also near $21,700. The first major support is now forming near the $21,600 level. A downside break below the $21,600 level might send the price towards the $21,200 support.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is now gaining pace in the bearish 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 $21,700, followed by $21,600.<\/p>\n Major Resistance Levels \u2013 $22,000, $22,350 and $23,200.<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Bitcoin gained pace and even spiked above the $22,000 resistance against the US Dollar. BTC is correcting gains, but dips might be limited below $21,500.<\/p>\n Bitcoin was able to clear the $21,200 and $21,500 resistance levels. Bitcoin Price Starts Fresh Rally<\/p>\n Bitcoin price remained well bid above the $20,000 level and started a fresh increase<\/a>. There was a clear move above the $21,000 and $21,200 resistance levels.<\/p>\n The price even surpassed the $21,500 resistance and spiked above the $22,000 resistance. A high was formed near $22,347 and the price recently started a downside correction. There was a move below the $22,000 and $21,850 levels.<\/p>\n Bitcoin price traded below the 23.6% Fib retracement level of the recent increase from the $21,180 swing low to $22,347 high. It is now trading above $21,500 and the 100 hourly simple moving average<\/a>. Besides, there is a key bullish trend lien forming with support near $21,600 on the hourly chart of the BTC\/USD pair.<\/p>\n
\nThe price is now trading above $21,500 and the 100 hourly simple moving average.
\nThere is a key bullish trend lien forming with support near $21,600 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair is correcting gains, but dips might be limited below the $21,500 level.<\/p>\n
![<\/a><\/p>\nSource: BTCUSD on TradingView.com<\/a><\/p>\nOn the upside, an immediate resistance is near the $22,000 level. The next major resistance sits near the $22,350 level. A clear move above the $22,350 resistance might start another steady increase. In the stated case, the price may perhaps rise towards $22,800. Any more gains might send the price towards the $23,200 resistance zone.<\/p>\nDips Limited in BTC?<\/p>\nIf bitcoin fails to gain pace above the $22,000 zone, it could start a downside correction. An immediate support on the downside is near the $21,700 zone.<\/p>\nThe 50% Fib retracement level of the recent increase from the $21,180 swing low to $22,347 high is also near $21,700. The first major support is now forming near the $21,600 level. A downside break below the $21,600 level might send the price towards the $21,200 support.<\/p>\nTechnical indicators:<\/p>\nHourly MACD \u2013 The MACD is now gaining pace in the bearish zone.<\/p>\nHourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\nMajor Support Levels \u2013 $21,700, followed by $21,600.<\/p>\nMajor Resistance Levels \u2013 $22,000, $22,350 and $23,200.<\/p>","protected":false},"excerpt":{"rendered":"<\/p>\nBitcoin gained pace and even spiked above the $22,000 resistance against the US Dollar. BTC is correcting gains, but dips might be limited below $21,500.<\/p>\nBitcoin was able to clear the $21,200 and $21,500 resistance levels.\nThe price is now trading above $21,500 and the 100 hourly simple moving average.\nThere is a key bullish trend lien forming with support near $21,600 on the hourly chart of the BTC\/USD pair (data feed from Kraken).\nThe pair is correcting gains, but dips might be limited below the $21,500 level.<\/p>\nBitcoin Price Starts Fresh Rally<\/p>\nBitcoin price remained well bid above the $20,000 level and started a fresh increase<\/a>. There was a clear move above the $21,000 and $21,200 resistance levels.<\/p>\nThe price even surpassed the $21,500 resistance and spiked above the $22,000 resistance. A high was formed near $22,347 and the price recently started a downside correction. There was a move below the $22,000 and $21,850 levels.<\/p>\nBitcoin price traded below the 23.6% Fib retracement level of the recent increase from the $21,180 swing low to $22,347 high. It is now trading above $21,500 and the 100 hourly simple moving average<\/a>. Besides, there is a key bullish trend lien forming with support near $21,600 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 $22,000 level. The next major resistance sits near the $22,350 level. A clear move above the $22,350 resistance might start another steady increase. In the stated case, the price may perhaps rise towards $22,800. Any more gains might send the price towards the $23,200 resistance zone.<\/p>\nDips Limited in BTC?<\/p>\nIf bitcoin fails to gain pace above the $22,000 zone, it could start a downside correction. An immediate support on the downside is near the $21,700 zone.<\/p>\nThe 50% Fib retracement level of the recent increase from the $21,180 swing low to $22,347 high is also near $21,700. The first major support is now forming near the $21,600 level. A downside break below the $21,600 level might send the price towards the $21,200 support.<\/p>\nTechnical indicators:<\/p>\nHourly MACD \u2013 The MACD is now gaining pace in the bearish zone.<\/p>\nHourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\nMajor Support Levels \u2013 $21,700, followed by $21,600.<\/p>\nMajor Resistance Levels \u2013 $22,000, $22,350 and $23,200.<\/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-7426","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\/7426","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=7426"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/7426\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=7426"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=7426"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=7426"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Bitcoin-11.png\"){kind=link}