| Name | Symbol | Market | Market Cap ($) | Algorithm |
|---|---|---|---|---|
| Bitcoin | BTCUSD | Crypto | 500,056,023,796 | SHA-256d |
| Price Change | Price Change % | Current Price | Bid Price | Offer | |
|---|---|---|---|---|---|
| -837.58 | -3.16% | 25,644.53 | 25,643.84 | 25,648.63 |
| High Price | Low Price | Open Price | Prev. Close | 52 Week Range |
|---|---|---|---|---|
| 26,534.95 | 25,583.39 | 26,485.69 | 26,482.11 | 15,500.00 - 31,050.00 |
| Exchange | Last Trade | Size | Trade Price | Currency |
|---|---|---|---|---|
| BSTP | 06:13:50 | 0.009121 | 25,647.00 | USD |
Bitcoin Price Recovers Ground But This Resistance Is The Key For Upside
08/02/2023 3:07am
NEWSBTC
Bitcoin price is rising and trading above $23,000. BTC could gain bullish momentum if there is a clear move above the $23,500 resistance zone. Bitcoin is correcting losses and trading above the $23,000 support zone. The price is trading above $23,000 and the 100 hourly simple moving average. There was a break above a crucial bearish trend line with resistance near $23,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could rise further and move into a bullish zone if it clears the $23,500 resistance. Bitcoin Price Forms Decent Support Bitcoin price remained well bid above the $22,500 support. A base was formed above $22,500 and BTC started a decent recovery wave. There was a clear move above the $22,800 and $23,000 resistance levels. There was also a break above a crucial bearish trend line with resistance near $23,000 on the hourly chart of the BTC/USD pair. The pair climbed above the 23.6% Fib retracement level of the key decline from the $24,282 swing high to $22,599 low. Bitcoin price is trading above $23,000 and the 100 hourly simple moving average. An immediate resistance is near the $23,450 zone. It is near the 50% Fib retracement level of the key decline from the $24,282 swing high to $22,599 low. Source: BTCUSD on TradingView.com The next major resistance is near the $23,500 zone. A clear move above the $23,500 resistance might start a steady increase. In the stated case, the price may perhaps jump towards the $24,000 level. The next resistance could be near the $24,250 level, above which btc price might rise towards the $25,000 resistance zone. Dips Supported in BTC? If bitcoin price fails to clear the $23,500 resistance, it could start another downside correction. An immediate support on the downside is near the $23,000 zone and the 100 hourly simple moving average. The next major support is near the $22,800 zone. A downside break below the $22,800 zone might send the price towards the $22,600 zone. Any more losses might call for a test of the $22,500 support in the near term. Technical indicators: Hourly MACD – The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $23,000, followed by $22,800. Major Resistance Levels – $23,450, $23,500 and $24,000.
1 Year Bitcoin Chart |
1 Month Bitcoin Chart |