Bitcoin price is facing resistance near the $21,500 zone. BTC could correct lower if there is a clear move below the $20,880 support zone.
Bitcoin seems to be facing a strong resistance near the $21,450 and $21,500 levels.
The price is trading above $20,500 and the 100 hourly simple moving average.
There is a key bullish trend line forming with support near $20,920 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could start a downside correction below the $20,880 and $20,750 support levels.
Bitcoin price started a strong increase above the $20,000 resistance zone. BTC was able to climb above the $20,500 and $21,000 levels to start a major uptrend.
Finally, the price tested the $21,500 resistance zone. A high is formed near $21,485 and the price is now consolidating gains. There was a minor decline below the $21,200 level. The price declined below the 23.6% Fib retracement level of the upward wave from the $20,249 swing low to $21,489 high.
Bitcoin price is now trading above $20,500 and the 100 hourly simple moving average. There is also a key bullish trend line forming with support near $20,920 on the hourly chart of the BTC/USD pair.
Source: BTCUSD on TradingView.com
On the upside, an immediate resistance is near the $21,250 level. The next major resistance is near the $21,500 zone, above which the price might start another steady increase. In the stated case, the price may perhaps rise towards the $22,000 level. Any more gains might send btc price towards the $22,500 level.
If bitcoin price fails to clear the $21,500 resistance, it could slowly move down. An immediate support on the downside is near the $21,000 zone and the trend line.
The next major support is near the $20,720 level. It is near the 61.8% Fib retracement level of the upward wave from the $20,249 swing low to $21,489 high. The main support is now forming near the $20,500 level, below which the price might retest $20,000. Any more losses might send the price to $19,000.
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 above the 50 level.
Major Support Levels – $20,720, followed by $20,500.
Major Resistance Levels – $21,250, $21,500 and $22,000.
Bitcoin price is facing resistance near the $21,500 zone. BTC could correct lower if there is a clear move below the $20,880 support zone.
Bitcoin seems to be facing a strong resistance near the $21,450 and $21,500 levels.
The price is trading above $20,500 and the 100 hourly simple moving average.
There is a key bullish trend line forming with support near $20,920 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could start a downside correction below the $20,880 and $20,750 support levels.
Bitcoin price started a strong increase above the $20,000 resistance zone. BTC was able to climb above the $20,500 and $21,000 levels to start a major uptrend.
Finally, the price tested the $21,500 resistance zone. A high is formed near $21,485 and the price is now consolidating gains. There was a minor decline below the $21,200 level. The price declined below the 23.6% Fib retracement level of the upward wave from the $20,249 swing low to $21,489 high.
Bitcoin price is now trading above $20,500 and the 100 hourly simple moving average. There is also a key bullish trend line forming with support near $20,920 on the hourly chart of the BTC/USD pair.
Source: BTCUSD on TradingView.com
On the upside, an immediate resistance is near the $21,250 level. The next major resistance is near the $21,500 zone, above which the price might start another steady increase. In the stated case, the price may perhaps rise towards the $22,000 level. Any more gains might send btc price towards the $22,500 level.
If bitcoin price fails to clear the $21,500 resistance, it could slowly move down. An immediate support on the downside is near the $21,000 zone and the trend line.
The next major support is near the $20,720 level. It is near the 61.8% Fib retracement level of the upward wave from the $20,249 swing low to $21,489 high. The main support is now forming near the $20,500 level, below which the price might retest $20,000. Any more losses might send the price to $19,000.
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 above the 50 level.
Major Support Levels – $20,720, followed by $20,500.
Major Resistance Levels – $21,250, $21,500 and $22,000.
Tags: bitcoinbitcoin pricebtcusdBTCUSDTxbtusd
NewsBTCRead More
This week has witnessed remarkable growth in the global cryptocurrency market, spearheaded by Bitcoin. Today,…
Michael Saylor's MicroStrategy tops Coinbase as the biggest crypto stock after revealing huge plan to…
A press release circulating yesterday proved yet again that there’s nothing the mainstream media loves…
Crypto-linked stocks such as MicroStrategy, Coinbase, Robinhood and bitcoin miners MARA, RIOT also suffered sizable…
The goal of allowing greater utility on the Bitcoin blockchain is one of almost existential…
Institutional traders are betting that Bitcoin will surge to $79,300 by the end of November.…
