TA: Bitcoin Price Seems Primed For A Strong Wave Above $21K

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,239,992,212,057	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,239,992,212,057

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-584.64	-0.92%	63,154.39	63,154.34	63,154.37

Price Change

Price Change %

Current Price

Bid Price

Offer

-584.64

-0.92%

63,154.39

63,154.34

63,154.37

High Price	Low Price	Open Price	Prev. Close	52 Week Range
63,900.00	62,445.06	63,748.82	63,739.03	24,750.00 - 73,835.57

High Price

Low Price

Open Price

Prev. Close

52 Week Range

63,900.00

62,445.06

63,748.82

63,739.03

24,750.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	03:29:55	0.000023	63,154.39	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

03:29:55

0.000023

63,154.39

USD

Price x Volume	Volume	Base Symbol	Related Pairs
113,712,970.01	1,805.88	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

113,712,970.01

1,805.88

TA: Bitcoin Price Seems Primed For A Strong Wave Above $21K

07/07/2022 4:08am

NEWSBTC

Bitcoin is moving higher and trading above the $20,000 zone against the US Dollar. BTC could surge if there is a clear move above $20,580 and $20,730. Bitcoin is showing a few positive signs above the $20,000 support zone. The price is now trading above the $20,000 level and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $19,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a strong upward move if there is a close above the $20,580 level. Bitcoin Price Aims Fresh Increase Bitcoin price stayed well above the $19,500 support zone. BTC formed a low near the $19,750 level and started another increase above the $20,000 resistance zone. There was a steady move and the price climbed above the 50% Fib retracement level of the downward move from the $20,732 swing high to $19,750 low. The price is now trading above the $20,000 level and the 100 hourly simple moving average. There is also a major bullish trend line forming with support near $19,800 on the hourly chart of the BTC/USD pair. Bitcoin price is now trading comfortably near the $20,500 zone and the 76.4% Fib retracement level of the downward move from the $20,732 swing high to $19,750 low. Source: BTCUSD on TradingView.com On the upside, the price is facing resistance near the $20,550 and $20,580 levels. The next key resistance is near the $20,730 zone. A close above the $20,730 resistance zone could open the doors for a strong increase. In the stated case, the price could rise towards the $21,500 level. The next major resistance sits near the $22,200 level. Fresh Decline in BTC? If bitcoin fails to clear the $20,730 resistance zone, it could start a downside correction. An immediate support on the downside is near the $20,200 level. The next major support now sits near the $19,800 level or the trend line zone. A close below the $19,800 support zone could push the price to $19,500. In the stated case, there is a risk of a move towards the $18,750 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 – $20,200, followed by $19,800. Major Resistance Levels – $20,580, $20,730 and $21,200.

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