TA: Bitcoin Dips Could Be Limited, Why 100 SMA Is The Key

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,265,233,494,535	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,265,233,494,535

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	1,525.55	2.43%	64,414.81	64,414.80	64,414.81

Price Change

Price Change %

Current Price

Bid Price

Offer

1,525.55

2.43%

64,414.81

64,414.80

64,414.81

High Price	Low Price	Open Price	Prev. Close	52 Week Range
64,546.00	62,565.82	62,868.02	62,889.25	24,750.00 - 73,835.57

High Price

Low Price

Open Price

Prev. Close

52 Week Range

64,546.00

62,565.82

62,868.02

62,889.25

24,750.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	12:02:21	0.015524	64,414.81	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

12:02:21

0.015524

64,414.81

USD

Price x Volume	Volume	Base Symbol	Related Pairs
282,185,938.45	4,463.52	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

282,185,938.45

4,463.52

TA: Bitcoin Dips Could Be Limited, Why 100 SMA Is The Key

27/06/2022 4:28am

NEWSBTC

Bitcoin is showing positive signs above the $21,000 zone against the US Dollar. BTC might start a fresh increase and could even clear the $21,750 resistance zone. Bitcoin remains well supported above the $21,000 and $20,500 levels. The price is now above the $20,800 level and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $21,300 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if it stays above $20,500 and the 100 hourly SMA. Bitcoin Price Remains Supported Bitcoin price started a decent increase above the $20,000 resistance zone. The price was able to clear the $20,500 level to move into a positive zone. There was a steady move above the $21,000 level and the 100 hourly simple moving average. However, the bears were again active near the $21,700 and $21,750 levels. A high was formed near $21,780 and the price started a downside correction. Bitcoin traded below the $21,500 level. There was a break below the 23.6% Fib retracement level of the upward move from the $19,750 swing low to $21,780 high. Besides, there was a break below a key bullish trend line with support near $21,300 on the hourly chart of the BTC/USD pair. It is now consolidating above the $21,000 level and the 100 hourly simple moving average. An immediate resistance on the upside is near the $21,250 level. Source: BTCUSD on TradingView.com The next key resistance is near the $21,750 level. A clear move above the $21,750 level might start a decent increase. In the stated case, the price could rise above the $22,200 level. Any more gains could send the price towards the $23,000 resistance zone. Fresh Decline in BTC? If bitcoin fails to clear the $21,750 resistance zone, it could start another decline. An immediate support on the downside is near the $21,000 level and the 100 hourly SMA. The first major support is near the $20,750 level. It is near the 50% Fib retracement level of the upward move from the $19,750 swing low to $21,780 high. A downside break below the $20,750 support could put a lot of pressure on the bulls in the near term. In the stated case, the price might slide towards the $20,000 level. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now just below the 50 level. Major Support Levels – $21,000, followed by $20,750. Major Resistance Levels – $21,250, $21,750 and $23,000.

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