Bitcoin found a strong buying interest near $18,500 against the US Dollar. BTC is recovering and there could be a fresh increase above the $20,000 resistance.<\/p>\n
Bitcoin remained stable and the bulls again protected the $18,500 support zone.
\nThe price is trading above $19,000 and the 100 hourly simple moving average.
\nThere is a short-term channel forming with support near $19,280 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a fresh rally if there is a clear move above the $19,650 resistance zone.<\/p>\n
Bitcoin Price Holds Key Support<\/p>\n
Bitcoin price declined heavily<\/a> from well above the $20,000 pivot level. BTC dropped below the $19,000 level, but the bulls were active near the $18,500 support zone.<\/p>\n It seems like the price is well supported near the $18,500 zone and there are multiple rejections visible around the same area. The price is now rising and there was a move above the $19,000 resistance zone. The bulls pushed the price above the 50% Fib retracement level of the downward move from the $20,383 swing high to $18,487 low.<\/p>\n Bitcoin price is now trading above $19,000 and the 100 hourly simple moving average<\/a>. There is also a short-term channel forming with support near $19,280 on the hourly chart of the BTC\/USD pair.<\/p>\n On the upside, an immediate resistance is near the $19,600 level. The next major resistance sits near the $19,650 zone. It is close to the 61.8% Fib retracement level of the downward move from the $20,383 swing high to $18,487 low.<\/p>\n <\/a><\/p>\n Source: BTCUSD on TradingView.com<\/a><\/p>\n A close above the $19,650 level might start a fresh increase. In the stated case, the price could rise towards $20,000. Any more gains might lead the price higher towards the $20,500 resistance zone.<\/p>\n Another Decline in BTC?<\/p>\n If bitcoin fails to recover above the $19,650 resistance zone, it could start a fresh decline. An immediate support on the downside is near the $19,280 zone and the channel trend line.<\/p>\n The next major support is near the $19,200 zone and the 100 hourly SMA. The main support is near $19,000. Any more losses might call for a drop towards the $18,500 support zone in the coming sessions.<\/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 $19,650, $20,000 and $20,500.<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Bitcoin found a strong buying interest near $18,500 against the US Dollar. BTC is recovering and there could be a fresh increase above the $20,000 resistance.<\/p>\n Bitcoin remained stable and the bulls again protected the $18,500 support zone. Bitcoin Price Holds Key Support<\/p>\n Bitcoin price declined heavily<\/a> from well above the $20,000 pivot level. BTC dropped below the $19,000 level, but the bulls were active near the $18,500 support zone.<\/p>\n It seems like the price is well supported near the $18,500 zone and there are multiple rejections visible around the same area. The price is now rising and there was a move above the $19,000 resistance zone. The bulls pushed the price above the 50% Fib retracement level of the downward move from the $20,383 swing high to $18,487 low.<\/p>\n Bitcoin price is now trading above $19,000 and the 100 hourly simple moving average<\/a>. There is also a short-term channel forming with support near $19,280 on the hourly chart of the BTC\/USD pair.<\/p>\n On the upside, an immediate resistance is near the $19,600 level. The next major resistance sits near the $19,650 zone. It is close to the 61.8% Fib retracement level of the downward move from the $20,383 swing high to $18,487 low.<\/p>\n
\nThe price is trading above $19,000 and the 100 hourly simple moving average.
\nThere is a short-term channel forming with support near $19,280 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a fresh rally if there is a clear move above the $19,650 resistance zone.<\/p>\n
![<\/a><\/p>\nSource: BTCUSD on TradingView.com<\/a><\/p>\nA close above the $19,650 level might start a fresh increase. In the stated case, the price could rise towards $20,000. Any more gains might lead the price higher towards the $20,500 resistance zone.<\/p>\nAnother Decline in BTC?<\/p>\nIf bitcoin fails to recover above the $19,650 resistance zone, it could start a fresh decline. An immediate support on the downside is near the $19,280 zone and the channel trend line.<\/p>\nThe next major support is near the $19,200 zone and the 100 hourly SMA. The main support is near $19,000. Any more losses might call for a drop towards the $18,500 support zone in the coming sessions.<\/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 $19,650, $20,000 and $20,500.<\/p>","protected":false},"excerpt":{"rendered":"<\/p>\nBitcoin found a strong buying interest near $18,500 against the US Dollar. BTC is recovering and there could be a fresh increase above the $20,000 resistance.<\/p>\nBitcoin remained stable and the bulls again protected the $18,500 support zone.\nThe price is trading above $19,000 and the 100 hourly simple moving average.\nThere is a short-term channel forming with support near $19,280 on the hourly chart of the BTC\/USD pair (data feed from Kraken).\nThe pair could start a fresh rally if there is a clear move above the $19,650 resistance zone.<\/p>\nBitcoin Price Holds Key Support<\/p>\nBitcoin price declined heavily<\/a> from well above the $20,000 pivot level. BTC dropped below the $19,000 level, but the bulls were active near the $18,500 support zone.<\/p>\nIt seems like the price is well supported near the $18,500 zone and there are multiple rejections visible around the same area. The price is now rising and there was a move above the $19,000 resistance zone. The bulls pushed the price above the 50% Fib retracement level of the downward move from the $20,383 swing high to $18,487 low.<\/p>\nBitcoin price is now trading above $19,000 and the 100 hourly simple moving average<\/a>. There is also a short-term channel forming with support near $19,280 on the hourly chart of the BTC\/USD pair.<\/p>\nOn the upside, an immediate resistance is near the $19,600 level. The next major resistance sits near the $19,650 zone. It is close to the 61.8% Fib retracement level of the downward move from the $20,383 swing high to $18,487 low.<\/p>\n<\/a><\/p>\nSource: BTCUSD on TradingView.com<\/a><\/p>\nA close above the $19,650 level might start a fresh increase. In the stated case, the price could rise towards $20,000. Any more gains might lead the price higher towards the $20,500 resistance zone.<\/p>\nAnother Decline in BTC?<\/p>\nIf bitcoin fails to recover above the $19,650 resistance zone, it could start a fresh decline. An immediate support on the downside is near the $19,280 zone and the channel trend line.<\/p>\nThe next major support is near the $19,200 zone and the 100 hourly SMA. The main support is near $19,000. Any more losses might call for a drop towards the $18,500 support zone in the coming sessions.<\/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 $19,650, $20,000 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-8730","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\/8730","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=8730"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/8730\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=8730"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=8730"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=8730"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Bitcoin-29.png\"){kind=link}