Bitcoin price started a fresh increase from the $22,400 support zone. BTC climbed to a new yearly high and now aims more upsides above $24,000.
Bitcoin started a fresh increase after forming a base near the $22,400 support zone.
The price is trading above $23,000 and the 100 hourly simple moving average.
There was a break above a major bearish trend line with resistance near $23,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could start a fresh increase if it stays above the $23,000 support zone.
Bitcoin price saw a downside correction below the $23,000 level. However, BTC remained well bid near the $22,400 support zone. A low was formed near $22,341 and the price started a fresh increase.
There was a clear move above the $23,000 resistance zone. Besides, there was a break above a major bearish trend line with resistance near $23,000 on the hourly chart of the BTC/USD pair. The pair surged to a new yearly high at $23,829 and is currently correcting gains.
There was a move below the 50% Fib retracement level of the recent increase from the $22,341 swing low to $23,829 high. However, the bulls appeared near the $23,200 support zone.
Bitcoin price is now trading above $23,000 and the 100 hourly simple moving average. It is also above the 61.8% Fib retracement level of the recent increase from the $22,341 swing low to $23,829 high. An immediate resistance is near the $23,400 level.
Source: BTCUSD on TradingView.com
The next major resistance is near the $23,850 zone, above which the price might gain bullish momentum. In the stated case, the price may perhaps rise towards the $24,200 level. The next resistance could be near the $24,500 level. Any more gains might send btc price towards the $25,000 level.
If bitcoin price fails to clear the $23,400 resistance, it could continue to move down. An immediate support on the downside is near the $23,000 zone.
The next major support is near the $22,850 zone. A downside break below the $22,850 level might send the price towards the $22,500 level. Any more losses might send the price to $22,350 in the near term.
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 – $23,000, followed by $22,850.
Major Resistance Levels – $23,400, $23,850 and $24,200.
Bitcoin price started a fresh increase from the $22,400 support zone. BTC climbed to a new yearly high and now aims more upsides above $24,000.
Bitcoin started a fresh increase after forming a base near the $22,400 support zone.
The price is trading above $23,000 and the 100 hourly simple moving average.
There was a break above a major bearish trend line with resistance near $23,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could start a fresh increase if it stays above the $23,000 support zone.
Bitcoin price saw a downside correction below the $23,000 level. However, BTC remained well bid near the $22,400 support zone. A low was formed near $22,341 and the price started a fresh increase.
There was a clear move above the $23,000 resistance zone. Besides, there was a break above a major bearish trend line with resistance near $23,000 on the hourly chart of the BTC/USD pair. The pair surged to a new yearly high at $23,829 and is currently correcting gains.
There was a move below the 50% Fib retracement level of the recent increase from the $22,341 swing low to $23,829 high. However, the bulls appeared near the $23,200 support zone.
Bitcoin price is now trading above $23,000 and the 100 hourly simple moving average. It is also above the 61.8% Fib retracement level of the recent increase from the $22,341 swing low to $23,829 high. An immediate resistance is near the $23,400 level.
Source: BTCUSD on TradingView.com
The next major resistance is near the $23,850 zone, above which the price might gain bullish momentum. In the stated case, the price may perhaps rise towards the $24,200 level. The next resistance could be near the $24,500 level. Any more gains might send btc price towards the $25,000 level.
If bitcoin price fails to clear the $23,400 resistance, it could continue to move down. An immediate support on the downside is near the $23,000 zone.
The next major support is near the $22,850 zone. A downside break below the $22,850 level might send the price towards the $22,500 level. Any more losses might send the price to $22,350 in the near term.
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 – $23,000, followed by $22,850.
Major Resistance Levels – $23,400, $23,850 and $24,200.
Tags: bitcoinbitcoin pricebtcusdBTCUSDTxbtusd
NewsBTCRead More
Bitcoin has once again captured the spotlight as retail demand surges to levels not seen…
An address tied to long-defunct crypto exchange Mt. Gox moved large amounts of BTC to…
Bitcoin broke the landmark $100,000 level earlier Thursday, nearly 15 years after it first went…
According to recent insights, Bitcoin (BTC) seems to be on the verge of another rally,…
Bitcoin's price has surged past the $100,000 mark for the first time in its history,…
Bitcoin price started a fresh increase and tested the $100,000 level. BTC is now showing…
