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Name Symbol Market Market Cap ($) Algorithm
Bitcoin BTCUSD Crypto 450,522,128,425 SHA-256d
  Price Change Price Change % Current Price Bid Price Offer
  -126.92 -0.55% 23,391.74 23,380.69 23,384.57
High Price Low Price Open Price Prev. Close 52 Week Range
23,499.86 22,789.55 23,133.74 23,132.14 - - -
Exchange Last Trade Size Trade Price Currency
BSTP 20:00:01 0.010200 23,392.00 USD
Price x Volume Volume Base Symbol Related Pairs
419,593,561.26 18,185.66 BTC BTCEUR BTCGBP ETHBTC

TA: Bitcoin Price Holds Ground, Why Close above $20K Is The Key

26/09/2022 3:58am

NEWSBTC


Bitcoin is holding the key $18,500 support zone against the US Dollar. BTC must settle above the $20,000 resistance zone to move into a positive zone. Bitcoin is struggling to gain momentum above the $19,500 resistance zone. The price is trading below $19,000 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $19,020 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could stage a fresh rally if there is a clear move above the $19,500 resistance zone. Bitcoin Price Consolidates Bitcoin price made another attempt to clear the $19,500 resistance zone. However, BTC struggled and formed a short-term top near the $19,400 level. A high was formed near $19,392 and the price declined. There was a move below the $19,000 level and the 100 hourly simple moving average. The pair traded as low as $18,645 and is currently consolidating losses. There was a minor increase above the $18,800 level. Bitcoin price climbed above the 23.6% Fib retracement level of the recent decline from the $19,392 swing high to $18,645 low. On the upside, an immediate resistance is near the $19,000 level and the 100 hourly simple moving average. There is also a key bearish trend line forming with resistance near $19,020 on the hourly chart of the BTC/USD pair. The trend line is near the 50% Fib retracement level of the recent decline from the $19,392 swing high to $18,645 low. Source: BTCUSD on TradingView.com The next major resistance sits near the $19,500 zone. A close above the $19,500 level might start a fresh surge to $20,000. Any more gains might start a steady increase and the price might rise towards the $21,500 resistance zone. Fresh Decline in BTC? If bitcoin fails to recover above the $19,500 zone, it could start a fresh decline. An immediate support on the downside is near the $18,650 zone. The next major support is near the $18,500 level. A clear move below the $18,500 zone could set the pace for a fresh decline. In the stated case, the price may even test the $17,500 level. 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 just below the 50 level. Major Support Levels – $18,650, followed by $18,500. Major Resistance Levels – $19,000, $19,350 and $19,500.

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