TA: Bitcoin Price Eyes Upside Break, Why BTC Could Surge to $23K

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,165,363,566,547	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,165,363,566,547

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	150.05	0.25%	59,271.25	59,271.24	59,271.25

Price Change

Price Change %

Current Price

Bid Price

Offer

150.05

0.25%

59,271.25

59,271.24

59,271.25

High Price	Low Price	Open Price	Prev. Close	52 Week Range
60,016.90	58,821.05	59,076.58	59,121.20	24,750.00 - 73,835.57

High Price

Low Price

Open Price

Prev. Close

52 Week Range

60,016.90

58,821.05

59,076.58

59,121.20

24,750.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	07:58:54	0.00000337	59,271.25	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

07:58:54

0.00000337

59,271.25

USD

Price x Volume	Volume	Base Symbol	Related Pairs
170,080,257.19	2,857.10	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

170,080,257.19

2,857.10

TA: Bitcoin Price Eyes Upside Break, Why BTC Could Surge to $23K

24/06/2022 4:08am

NEWSBTC

Bitcoin is showing positive signs above the $20,500 zone against the US Dollar. BTC could rally if there is a clear move above the $21,250 resistance zone. Bitcoin remains well supported above the $20,000 and $20,500 levels. The price is now above the $20,500 level and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $20,450 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if it clears the $21,250 and $21,650 resistance levels. Bitcoin Price Could Gain Pace Bitcoin price started a downside correction below the $20,500 level. There was also a move below the $20,000 level, but the price was stable near the $19,750 zone. A low was formed near $19,750 and the price started fresh. BTC was able to clear the $20,000 and $20,500 resistance levels. Besides, there was a break above a major bearish trend line with resistance near $20,450 on the hourly chart of the BTC/USD pair. The pair climbed above the 50% Fib retracement level of the downward move from the $21,698 swing high to $19,750 low. Bitcoin is now above the $20,500 level and the 100 hourly simple moving average. An immediate resistance on the upside is near the $21,250 level. It is near the 76.4% Fib retracement level of the downward move from the $21,698 swing high to $19,750 low. The next key resistance is near the $21,650 level. A clear move above the $21,650 level might start a decent increase. Source: BTCUSD on TradingView.com The next major resistance sits near the $22,200 level, above which the bulls might gain strength for a move towards the $23,000 resistance zone. Fresh Decline in BTC? If bitcoin fails to clear the $21,250 resistance zone, it could start another decline. An immediate support on the downside is near the $20,600 level and the 100 hourly SMA. The first major support is near the $20,000 level. The main support is now near the $19,750 level. A downside break below the $19,750 support could put a lot of pressure on the bulls in the near term. In the stated case, the price might slide towards the $18,500 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 above the 50 level. Major Support Levels – $20,600, followed by $20,000. Major Resistance Levels – $21,250, $21,650 and $23,000.

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