Bitcoin price gained pace for a move above $20,000 against the US Dollar. BTC is showing positive signs and might rise further above $20,500.<\/p>\n
Bitcoin started a steady increase above the $19,200 and $19,500 resistance levels.
\nThe price is trading above $20,000 and the 100 hourly simple moving average.
\nThere is a connecting bullish trend line forming with support near $20,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair is gaining pace and might rally further above the $20,500 level.<\/p>\n
Bitcoin Price Gains Pace<\/p>\n
Bitcoin price formed a base above the $19,000 level and started a steady increase<\/a>. BTC was able to clear the $19,500 and $19,650 resistance levels.<\/p>\n The bulls were able to pump the price above the $20,000 resistance zone<\/a>. The price traded as high as $20,475 and the price is now correcting gains. It is trading above $20,000 and the 100 hourly simple moving average. Bitcoin is now slowly moving lower below $20,400.<\/p>\n It is trading well above the 23.6% Fib retracement level of the upward move from the $18,937 swing low to $20,475 high. There is also a connecting bullish trend line forming with support near $20,000 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 $20,450 level. The next major resistance sits near the $20,500 zone. A clear move above the $20,500 resistance might start another increase. In the stated case, the price could even surpass the $21,200 resistance zone. The next major resistance is near the $22,500 zone.<\/p>\n Dips Limited in BTC?<\/p>\n If bitcoin fails to rise above the $20,500 resistance zone, it could start a downside correction. An immediate support on the downside is near the $20,100 zone.<\/p>\n The next major support is near the $20,000 zone and the trend line. A downside break below the trend line might send the price towards $19,700. It is near the 50% Fib retracement level of the upward move from the $18,937 swing low to $20,475 high. The main support is near $19,500, below which the price might drop to $19,200.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is now gaining 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 $20,100, followed by $20,000.<\/p>\n Major Resistance Levels \u2013 $20,500, $21,200 and $22,500.<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Bitcoin price gained pace for a move above $20,000 against the US Dollar. BTC is showing positive signs and might rise further above $20,500.<\/p>\n Bitcoin started a steady increase above the $19,200 and $19,500 resistance levels. Bitcoin Price Gains Pace<\/p>\n Bitcoin price formed a base above the $19,000 level and started a steady increase<\/a>. BTC was able to clear the $19,500 and $19,650 resistance levels.<\/p>\n The bulls were able to pump the price above the $20,000 resistance zone<\/a>. The price traded as high as $20,475 and the price is now correcting gains. It is trading above $20,000 and the 100 hourly simple moving average. Bitcoin is now slowly moving lower below $20,400.<\/p>\n It is trading well above the 23.6% Fib retracement level of the upward move from the $18,937 swing low to $20,475 high. There is also a connecting bullish trend line forming with support near $20,000 on the hourly chart of the BTC\/USD pair.<\/p>\n
\nThe price is trading above $20,000 and the 100 hourly simple moving average.
\nThere is a connecting bullish trend line forming with support near $20,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair is gaining pace and might rally further above the $20,500 level.<\/p>\n
![<\/a><\/p>\nSource: BTCUSD on TradingView.com<\/a><\/p>\nOn the upside, an immediate resistance is near the $20,450 level. The next major resistance sits near the $20,500 zone. A clear move above the $20,500 resistance might start another increase. In the stated case, the price could even surpass the $21,200 resistance zone. The next major resistance is near the $22,500 zone.<\/p>\nDips Limited in BTC?<\/p>\nIf bitcoin fails to rise above the $20,500 resistance zone, it could start a downside correction. An immediate support on the downside is near the $20,100 zone.<\/p>\nThe next major support is near the $20,000 zone and the trend line. A downside break below the trend line might send the price towards $19,700. It is near the 50% Fib retracement level of the upward move from the $18,937 swing low to $20,475 high. The main support is near $19,500, below which the price might drop to $19,200.<\/p>\nTechnical indicators:<\/p>\nHourly MACD \u2013 The MACD is now gaining 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 $20,100, followed by $20,000.<\/p>\nMajor Resistance Levels \u2013 $20,500, $21,200 and $22,500.<\/p>","protected":false},"excerpt":{"rendered":"<\/p>\nBitcoin price gained pace for a move above $20,000 against the US Dollar. BTC is showing positive signs and might rise further above $20,500.<\/p>\nBitcoin started a steady increase above the $19,200 and $19,500 resistance levels.\nThe price is trading above $20,000 and the 100 hourly simple moving average.\nThere is a connecting bullish trend line forming with support near $20,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).\nThe pair is gaining pace and might rally further above the $20,500 level.<\/p>\nBitcoin Price Gains Pace<\/p>\nBitcoin price formed a base above the $19,000 level and started a steady increase<\/a>. BTC was able to clear the $19,500 and $19,650 resistance levels.<\/p>\nThe bulls were able to pump the price above the $20,000 resistance zone<\/a>. The price traded as high as $20,475 and the price is now correcting gains. It is trading above $20,000 and the 100 hourly simple moving average. Bitcoin is now slowly moving lower below $20,400.<\/p>\nIt is trading well above the 23.6% Fib retracement level of the upward move from the $18,937 swing low to $20,475 high. There is also a connecting bullish trend line forming with support near $20,000 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 $20,450 level. The next major resistance sits near the $20,500 zone. A clear move above the $20,500 resistance might start another increase. In the stated case, the price could even surpass the $21,200 resistance zone. The next major resistance is near the $22,500 zone.<\/p>\nDips Limited in BTC?<\/p>\nIf bitcoin fails to rise above the $20,500 resistance zone, it could start a downside correction. An immediate support on the downside is near the $20,100 zone.<\/p>\nThe next major support is near the $20,000 zone and the trend line. A downside break below the trend line might send the price towards $19,700. It is near the 50% Fib retracement level of the upward move from the $18,937 swing low to $20,475 high. The main support is near $19,500, below which the price might drop to $19,200.<\/p>\nTechnical indicators:<\/p>\nHourly MACD \u2013 The MACD is now gaining 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 $20,100, followed by $20,000.<\/p>\nMajor Resistance Levels \u2013 $20,500, $21,200 and $22,500.<\/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-9098","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\/9098","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=9098"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/9098\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=9098"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=9098"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=9098"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/10\/Bitcoin-3.png\"){kind=link}