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Name Symbol Market Market Cap ($) Algorithm
Bitcoin BTCUSD Crypto 329,685,855,943 SHA-256d
  Price Change Price Change % Current Price Bid Price Offer
  24.31 0.14% 17,151.29 17,150.93 17,151.28
High Price Low Price Open Price Prev. Close 52 Week Range
17,168.70 17,116.60 17,128.97 17,126.98 15,500.00 - 52,100.00
Exchange Last Trade Size Trade Price Currency
GDAX 06:48:21 0.014106 17,150.80 USD
Price x Volume Volume Base Symbol Related Pairs
36,129,672.54 2,106.96 BTC BTCEUR BTCGBP ETHBTC

TA: Bitcoin Price Topside Bias Vulnerable Unless It Surges Past $24.5K

17/08/2022 3:28am

NEWSBTC


Bitcoin is struggling below $24,500 against the US Dollar. BTC could continue to move down below the $23,650 and $23,500 support levels. Bitcoin is slowly moving lower and trading well below the $25,000 level. The price is now trading below the $24,200 level and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $24,020 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could extend losses below the $23,650 and $23,500 support levels in the near term. Bitcoin Price Turns Red Bitcoin price started a slow and steady decline from the $25,000 resistance zone. BTC declined below the $24,650 and $24,500 levels to move into a short-term bearish zone. There was a break below the $24,000 level and the 100 hourly simple moving average. The price traded as low as $23,673 and is currently consolidating losses. On the upside, an immediate resistance is near the $24,000 level. It is near the 23.6% Fib retracement level of the recent drop from the $25,200 swing high to $23,673 low. There is also a key bearish trend line forming with resistance near $24,020 on the hourly chart of the BTC/USD pair. The first major resistance on the upside sits near the $24,250 level and the 100 hourly simple moving average. The next key resistance is near the $24,450 zone. It is near the 50% Fib retracement level of the recent drop from the $25,200 swing high to $23,673 low. A close above the $24,450 and $24,500 resistance levels might start another increase. Source: BTCUSD on TradingView.com In the stated case, the price may perhaps climb towards the $25,000 resistance. Any more gains might send the price towards the $25,800 level. More Losses in BTC? If bitcoin fails to clear the $24,450 resistance zone, it could continue to move down. An immediate support on the downside is near the $23,675 level. The next major support now sits near the $23,450 level. A downside break and close below the $23,450 level might put a lot of pressure on the bulls. In the stated case, the price might decline towards the $22,750 level. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $23,650, followed by $23,500. Major Resistance Levels – $24,020, $24,450 and $24,500.

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P: V:gb D:20221210 06:48:29