Bitcoin started an upside correction from the $18,150 zone against the US Dollar. BTC is back above $19,200 and a break above $19,500 could spark a fresh rally.<\/p>\n
Bitcoin is showing a few positive signs above the $19,000 level.
\nThe price is trading above $19,000 and the 100 hourly simple moving average.
\nThere is a key contracting triangle forming with support near $19,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could stage a fresh rally if there is a clear move above the $19,500 resistance zone.<\/p>\n
Bitcoin Price Recovers<\/p>\n
Bitcoin price remained well bid above the $18,150 level. BTC traded as low as $18,138 and started a decent recovery wave<\/a>. The price was able to recover above the $18,800 and $19,000 resistance levels.<\/p>\n There was a move above the 50% Fib retracement level of the downward move from the $19,888 swing high to $18,138 low. The bulls even pushed the price above the $19,200 resistance zone. It is now trading above $19,000 and the 100 hourly simple moving average<\/a>.<\/p>\n There is also a key contracting triangle forming with support near $19,200 on the hourly chart of the BTC\/USD pair. Bitcoin price is showing a few positive signs above the $19,000 level.<\/p>\n On the upside, an immediate resistance is near the $19,475 level. It is near the 76.4% Fib retracement level of the downward move from the $19,888 swing high to $18,138 low. The next major resistance sits near the $19,680 level.<\/p>\n <\/a><\/p>\n Source: BTCUSD on TradingView.com<\/a><\/p>\n A close above the $19,680 level might start a fresh surge to $20,000. Any more gains might send the price towards the $20,500 resistance zone.<\/p>\n Fresh Decline in BTC?<\/p>\n If bitcoin fails to recover above the $19,680 zone, it could start a fresh decline. An immediate support on the downside is near the $19,200 zone and the triangle lower trend line.<\/p>\n The next major support is near the $19,000 level and the 100 hourly SMA. A clear move below the $19,000 zone could set the pace for a fresh decline. In the stated case, the price may even test the $18,500 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 $19,200, followed by $19,000.<\/p>\n Major Resistance Levels \u2013 $19,500, $19,680 and $20,000.<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Bitcoin started an upside correction from the $18,150 zone against the US Dollar. BTC is back above $19,200 and a break above $19,500 could spark a fresh rally.<\/p>\n Bitcoin is showing a few positive signs above the $19,000 level. Bitcoin Price Recovers<\/p>\n Bitcoin price remained well bid above the $18,150 level. BTC traded as low as $18,138 and started a decent recovery wave<\/a>. The price was able to recover above the $18,800 and $19,000 resistance levels.<\/p>\n There was a move above the 50% Fib retracement level of the downward move from the $19,888 swing high to $18,138 low. The bulls even pushed the price above the $19,200 resistance zone. It is now trading above $19,000 and the 100 hourly simple moving average<\/a>.<\/p>\n There is also a key contracting triangle forming with support near $19,200 on the hourly chart of the BTC\/USD pair. Bitcoin price is showing a few positive signs above the $19,000 level.<\/p>\n On the upside, an immediate resistance is near the $19,475 level. It is near the 76.4% Fib retracement level of the downward move from the $19,888 swing high to $18,138 low. The next major resistance sits near the $19,680 level.<\/p>\n
\nThe price is trading above $19,000 and the 100 hourly simple moving average.
\nThere is a key contracting triangle forming with support near $19,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could stage a fresh rally if there is a clear move above the $19,500 resistance zone.<\/p>\n
![<\/a><\/p>\nSource: BTCUSD on TradingView.com<\/a><\/p>\nA close above the $19,680 level might start a fresh surge to $20,000. Any more gains might send the price towards the $20,500 resistance zone.<\/p>\nFresh Decline in BTC?<\/p>\nIf bitcoin fails to recover above the $19,680 zone, it could start a fresh decline. An immediate support on the downside is near the $19,200 zone and the triangle lower trend line.<\/p>\nThe next major support is near the $19,000 level and the 100 hourly SMA. A clear move below the $19,000 zone could set the pace for a fresh decline. In the stated case, the price may even test the $18,500 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 $19,200, followed by $19,000.<\/p>\nMajor Resistance Levels \u2013 $19,500, $19,680 and $20,000.<\/p>","protected":false},"excerpt":{"rendered":"<\/p>\nBitcoin started an upside correction from the $18,150 zone against the US Dollar. BTC is back above $19,200 and a break above $19,500 could spark a fresh rally.<\/p>\nBitcoin is showing a few positive signs above the $19,000 level.\nThe price is trading above $19,000 and the 100 hourly simple moving average.\nThere is a key contracting triangle forming with support near $19,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken).\nThe pair could stage a fresh rally if there is a clear move above the $19,500 resistance zone.<\/p>\nBitcoin Price Recovers<\/p>\nBitcoin price remained well bid above the $18,150 level. BTC traded as low as $18,138 and started a decent recovery wave<\/a>. The price was able to recover above the $18,800 and $19,000 resistance levels.<\/p>\nThere was a move above the 50% Fib retracement level of the downward move from the $19,888 swing high to $18,138 low. The bulls even pushed the price above the $19,200 resistance zone. It is now trading above $19,000 and the 100 hourly simple moving average<\/a>.<\/p>\nThere is also a key contracting triangle forming with support near $19,200 on the hourly chart of the BTC\/USD pair. Bitcoin price is showing a few positive signs above the $19,000 level.<\/p>\nOn the upside, an immediate resistance is near the $19,475 level. It is near the 76.4% Fib retracement level of the downward move from the $19,888 swing high to $18,138 low. The next major resistance sits near the $19,680 level.<\/p>\n<\/a><\/p>\nSource: BTCUSD on TradingView.com<\/a><\/p>\nA close above the $19,680 level might start a fresh surge to $20,000. Any more gains might send the price towards the $20,500 resistance zone.<\/p>\nFresh Decline in BTC?<\/p>\nIf bitcoin fails to recover above the $19,680 zone, it could start a fresh decline. An immediate support on the downside is near the $19,200 zone and the triangle lower trend line.<\/p>\nThe next major support is near the $19,000 level and the 100 hourly SMA. A clear move below the $19,000 zone could set the pace for a fresh decline. In the stated case, the price may even test the $18,500 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 $19,200, followed by $19,000.<\/p>\nMajor Resistance Levels \u2013 $19,500, $19,680 and $20,000.<\/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-8289","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\/8289","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=8289"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/8289\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=8289"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=8289"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=8289"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Bitcoin-24.png\"){kind=link}