Bitcoin started an upside correction from the $18,223 low against the US Dollar. BTC climbed above $19,000, but it is now facing resistance near the 100 hourly SMA.<\/p>\n
Bitcoin traded as low as $18,223 before it started an upside correction.
\nThe price is still trading below $20,000 and the 100 hourly simple moving average.
\nThere is a key bearish trend line forming with resistance near $19,650 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair must clear the trend line and the 100 hourly SMA to continue higher towards $20,500.<\/p>\n
Bitcoin Price Recovers Above $19,000<\/p>\n
Bitcoin price extended losses<\/a> after it settled below the $19,000 level. BTC broke the $18,500 support zone and traded as low as $18,223.<\/p>\n There was no test of the $18,000 zone and the price started an upside correction. There was a steady increase above the $18,500 and $18,800 levels. The price was able to clear the 50% Fib retracement level of the downward move from the $20,198 swing high to $18,223 low.<\/p>\n Bitcoin price even spiked above the $19,500 resistance zone. However, the bears were active near the $19,600 level and the 100 hourly simple moving average<\/a>.<\/p>\n There is also a key bearish trend line forming with resistance near $19,650 on the hourly chart of the BTC\/USD pair. The trend line is near the 76.4% Fib retracement level of the downward move from the $20,198 swing high to $18,223 low.<\/p>\n <\/a><\/p>\n Source: BTCUSD on TradingView.com<\/a><\/p>\n On the upside, an immediate resistance is near the $19,600 level and the trend line. The next major resistance sits near the $20,000 level. Any more gains might send the price towards the $20,500 resistance zone. Furthermore, if the bulls remain in action, the price could test $21,200.<\/p>\n Fresh Decline in BTC?<\/p>\n If bitcoin fails to continue higher above the $19,600 resistance zone, it could start a fresh decline. An immediate support on the downside is near the $19,200 zone.<\/p>\n The next major support is near the $18,850 level. A clear move below the $18,850 and $18,800 levels might open the doors for a move towards the $18,223 low or even to a new low.<\/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 $19,200, followed by $18,850.<\/p>\n Major Resistance Levels \u2013 $19,600, $19,650 and $20,500.<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Bitcoin started an upside correction from the $18,223 low against the US Dollar. BTC climbed above $19,000, but it is now facing resistance near the 100 hourly SMA.<\/p>\n Bitcoin traded as low as $18,223 before it started an upside correction. Bitcoin Price Recovers Above $19,000<\/p>\n Bitcoin price extended losses<\/a> after it settled below the $19,000 level. BTC broke the $18,500 support zone and traded as low as $18,223.<\/p>\n There was no test of the $18,000 zone and the price started an upside correction. There was a steady increase above the $18,500 and $18,800 levels. The price was able to clear the 50% Fib retracement level of the downward move from the $20,198 swing high to $18,223 low.<\/p>\n Bitcoin price even spiked above the $19,500 resistance zone. However, the bears were active near the $19,600 level and the 100 hourly simple moving average<\/a>.<\/p>\n There is also a key bearish trend line forming with resistance near $19,650 on the hourly chart of the BTC\/USD pair. The trend line is near the 76.4% Fib retracement level of the downward move from the $20,198 swing high to $18,223 low.<\/p>\n
\nThe price is still trading below $20,000 and the 100 hourly simple moving average.
\nThere is a key bearish trend line forming with resistance near $19,650 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair must clear the trend line and the 100 hourly SMA to continue higher towards $20,500.<\/p>\n
![<\/a><\/p>\nSource: BTCUSD on TradingView.com<\/a><\/p>\nOn the upside, an immediate resistance is near the $19,600 level and the trend line. The next major resistance sits near the $20,000 level. Any more gains might send the price towards the $20,500 resistance zone. Furthermore, if the bulls remain in action, the price could test $21,200.<\/p>\nFresh Decline in BTC?<\/p>\nIf bitcoin fails to continue higher above the $19,600 resistance zone, it could start a fresh decline. An immediate support on the downside is near the $19,200 zone.<\/p>\nThe next major support is near the $18,850 level. A clear move below the $18,850 and $18,800 levels might open the doors for a move towards the $18,223 low or even to a new low.<\/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 $19,200, followed by $18,850.<\/p>\nMajor Resistance Levels \u2013 $19,600, $19,650 and $20,500.<\/p>","protected":false},"excerpt":{"rendered":"<\/p>\nBitcoin started an upside correction from the $18,223 low against the US Dollar. BTC climbed above $19,000, but it is now facing resistance near the 100 hourly SMA.<\/p>\nBitcoin traded as low as $18,223 before it started an upside correction.\nThe price is still trading below $20,000 and the 100 hourly simple moving average.\nThere is a key bearish trend line forming with resistance near $19,650 on the hourly chart of the BTC\/USD pair (data feed from Kraken).\nThe pair must clear the trend line and the 100 hourly SMA to continue higher towards $20,500.<\/p>\nBitcoin Price Recovers Above $19,000<\/p>\nBitcoin price extended losses<\/a> after it settled below the $19,000 level. BTC broke the $18,500 support zone and traded as low as $18,223.<\/p>\nThere was no test of the $18,000 zone and the price started an upside correction. There was a steady increase above the $18,500 and $18,800 levels. The price was able to clear the 50% Fib retracement level of the downward move from the $20,198 swing high to $18,223 low.<\/p>\nBitcoin price even spiked above the $19,500 resistance zone. However, the bears were active near the $19,600 level and the 100 hourly simple moving average<\/a>.<\/p>\nThere is also a key bearish trend line forming with resistance near $19,650 on the hourly chart of the BTC\/USD pair. The trend line is near the 76.4% Fib retracement level of the downward move from the $20,198 swing high to $18,223 low.<\/p>\n<\/a><\/p>\nSource: BTCUSD on TradingView.com<\/a><\/p>\nOn the upside, an immediate resistance is near the $19,600 level and the trend line. The next major resistance sits near the $20,000 level. Any more gains might send the price towards the $20,500 resistance zone. Furthermore, if the bulls remain in action, the price could test $21,200.<\/p>\nFresh Decline in BTC?<\/p>\nIf bitcoin fails to continue higher above the $19,600 resistance zone, it could start a fresh decline. An immediate support on the downside is near the $19,200 zone.<\/p>\nThe next major support is near the $18,850 level. A clear move below the $18,850 and $18,800 levels might open the doors for a move towards the $18,223 low or even to a new low.<\/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 $19,200, followed by $18,850.<\/p>\nMajor Resistance Levels \u2013 $19,600, $19,650 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-8001","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\/8001","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=8001"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/8001\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=8001"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=8001"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=8001"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Bitcoin-21.png\"){kind=link}