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Name Symbol Market Market Cap ($) Algorithm
Bitcoin BTCUSD Crypto 442,983,297,686 SHA-256d
  Price Change Price Change % Current Price Bid Price Offer
  -56.70 -0.25% 22,960.99 22,959.10 22,960.98
High Price Low Price Open Price Prev. Close 52 Week Range
23,105.23 22,540.76 23,008.84 23,017.69 15,500.00 - 48,240.00
Exchange Last Trade Size Trade Price Currency
GDAX 09:23:26 0.015643 22,958.66 USD
Price x Volume Volume Base Symbol Related Pairs
265,665,901.41 11,608.91 BTC BTCEUR BTCGBP ETHBTC

TA: Bitcoin Price Gearing For Another Lift-Off to $21K, Recent Breakout Suggests

27/09/2022 3:28am

NEWSBTC


Bitcoin is gaining pace above the $19,500 resistance against the US Dollar. BTC could rise further above $20,000 if it stays above the $19,000 support. Bitcoin started a decent increase and was able to clear the $19,500 resistance zone. The price is trading above $19,000 and the 100 hourly simple moving average. There was a break above a connecting bearish trend line with resistance near $19,220 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could stage a strong increase if it clears the $20,000 resistance zone. Bitcoin Price Breaks Hurdle Bitcoin price remained well bid above the $19,000 support zone. The crypto market was able to recover and BTC climbed higher above the $19,200 resistance zone. There was a clear move above a connecting bearish trend line with resistance near $19,220 on the hourly chart of the BTC/USD pair. The pair even surpassed a major resistance zone near the $19,500 level to move into a positive zone. Bitcoin price is now trading above $19,000 and the 100 hourly simple moving average. It traded as high as $19,863 and is currently consolidating gains. It is trading well above the 23.6% Fib retracement level of the recent increase from the $18,645 swing low to $19,863 high. On the upside, an immediate resistance is near the $19,850 level. The next major resistance sits near the $20,000 zone. Source: BTCUSD on TradingView.com A close above the $20,000 level might push the price further into a bullish zone. In the stated case, the price could rise towards $20,500. Any more gains might lead the price higher towards the $21,000 resistance zone. Dips Supported in BTC? If bitcoin fails to rise above the $20,000 resistance zone, it could correct lower. An immediate support on the downside is near the $19,550 zone. The next major support is near the $19,250 zone. It is near the 50% Fib retracement level of the recent increase from the $18,645 swing low to $19,863 high. The main support sits near the $19,000 level, below which the price might move into a bearish zone. 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 – $19,550, followed by $19,000. Major Resistance Levels – $19,850, $20,000 and $20,500.

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P: V:gb D:20230127 09:23:37