TA: Bitcoin Price Close Below $20K Could Spark Larger Degree Increase

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,134,876,781,275	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,134,876,781,275

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-2,758.08	-4.55%	57,842.08	57,842.08	57,842.20

Price Change

Price Change %

Current Price

Bid Price

Offer

-2,758.08

-4.55%

57,842.08

57,842.20

High Price	Low Price	Open Price	Prev. Close	52 Week Range
60,785.49	56,500.00	60,649.57	60,600.28	24,750.00 - 73,835.57

High Price

Low Price

Open Price

Prev. Close

52 Week Range

60,785.49

56,500.00

60,649.57

60,600.28

24,750.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	00:05:58	0.000841	57,842.20	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

00:05:58

0.000841

57,842.20

USD

Price x Volume	Volume	Base Symbol	Related Pairs
1,823,815,641.83	31,525.85	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

1,823,815,641.83

31,525.85

TA: Bitcoin Price Close Below $20K Could Spark Larger Degree Increase

04/10/2022 4:38am

NEWSBTC

Bitcoin price is slowly moving higher above $19,500 against the US Dollar. BTC could start a steady increase if there is a close above $19,600 and $20,000. Bitcoin remained well bid above the $19,200 and $19,000 support levels. The price is trading above $19,400 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $19,450 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a steady increase if there is a clear move above the $19,700 level. Bitcoin Price Eyes Steady Increase Bitcoin price remained strong above the $19,000 level. BTC traded as low as $18,937 and started a steady increase. There was a move above the $19,150 and $19200 levels. The price was able to clear the 50% Fib retracement level of the downward move from the $20,177 swing high to $18,937 low. There was a also a move above the $19,500 resistance zone to move into a short-term positive zone. Bitcoin price is now trading above $19,400 and the 100 hourly simple moving average. There is also a key bullish trend line forming with support near $19,450 on the hourly chart of the BTC/USD pair. On the upside, an immediate resistance is near the $19,700 level. It is near the 61.8% Fib retracement level of the downward move from the $20,177 swing high to $18,937 low. The next major resistance sits near the $20,000 zone. Source: BTCUSD on TradingView.com A clear move above the $20,0000 resistance might start a fresh increase. In the stated case, the price could even surpass the $20,200 resistance zone. The next major resistance is near the $20,500 zone. Another Decline in BTC? If bitcoin fails to rise above the $19,700 resistance zone, it could start a fresh decline. An immediate support on the downside is near the $19,400 zone. The next major support is near the $19,000 zone. The main support is near $18,500, below which there could be a major decline. In the stated case, the price may perhaps decline towards the $17,500 support. 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 above the 50 level. Major Support Levels – $19,400, followed by $19,200. Major Resistance Levels – $19,700, $20,000 and $20,500.

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