• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
No Result
View All Result
Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Dogecoin Surges 6% After Elon Musk Unveils Crypto Payment Master Plan
Bitcoin

TA: Bitcoin Consolidates Near Key Juncture, Can The Bulls Make It

Aayush Jindal by Aayush Jindal
8 months ago
in BTC
Reading Time: 2 mins read
Advertisement

Bitcoin is struggling near the $21,000 resistance zone against the US Dollar. BTC could rally if it clears the $20,900 and $21,000 resistance levels.

  • Bitcoin is showing a few positive signs above the $20,000 support.
  • The price is now still above the $20,000 level and the 100 hourly simple moving average.
  • There is a connecting bullish trend line forming with support near $20,275 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could start a fresh decline if it stays below the key $21,000 resistance zone.

Bitcoin Price Eyes Upside Break

Bitcoin price started an upside correction after it traded as low as $17,600. There was a decent recovery wave above the $18,500 and $19,000 levels.

The price surpassed the 50% Fib retracement level of the main drop from the $22,951 high to $17,600 low. The price even cleared the $20,000 level and the 100 hourly simple moving average. There is also a connecting bullish trend line forming with support near $20,275 on the hourly chart of the BTC/USD pair.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

However, the bears are now defending major gains above the $20,500 zone. Bitcoin is also struggling near the 61.8% Fib retracement level of the main drop from the $22,951 high to $17,600 low. An immediate resistance on the upside is near the $20,800 level. The first major resistance is near the $20,900 and $21,000 levels.

Bitcoin Price

Source: BTCUSD on TradingView.com

A clear move above the $21,000 level could even push the price towards $21,800. Any more gains might send the price towards the $22,200 level in the coming sessions.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

Fresh Decline in BTC?

If bitcoin fails to clear the $21,000 resistance zone, it could start a fresh decline. An immediate support on the downside is near the $20,275 level and the trend line.

The next major support is near the $20,000 level and the 100 hourly SMA. A downside break below the $20,000 support could spark another decline. In the stated case, the price could test $18,800.

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 – $20,275, followed by $20,000.

Major Resistance Levels – $20,900, $21,000 and $22,000.

Tags: bitcoinbtcusdBTCUSDTxbtusd
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Aayush Jindal

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies and Financial Market Strategist with a background in IT and financial markets. He specialises in market strategies and technical analysis, and has spent over a DECADE as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin and Ethereum markets.

Related Posts

Bitcoin

Bitcoin Price Just Saw Key Technical Correction, But 100 SMA Is Still Strong

21 hours ago
Bitcoin

Bitcoin Price Rally Post Fed Rate Hike Could Gather Momentum, Here’s Why

2 days ago
bitcoin bull stampede

Bitcoin Monthly Signals Stack Suggesting Bulls Are Ready To Stampede

2 days ago
Bitcoin and Ethereum

Bitcoin and Ethereum Whale Activities Plummet – Are Whales Getting Bored?

2 days ago
Bitcoin

Bitcoin Price At Risk of Downside Thrust Before Fresh Increase

3 days ago
Bitcoin

Bitcoin Price Hints At Potential Correction, Buy The Dip?

4 days ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Metaspins

Metaspins

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
Coinplay

Coinplay

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

ApeCoin (APE), Dogecoin (DOGE), and Snowfall Protocol (SNW) – Three Great Coins for NFT Lovers

February 3, 2023

Turn Playtime into Paytime with RankerDAO’s Gaming Crypto Platform

February 3, 2023

Fetch.ai (FET) up 200% in 30 days – Orbeon Protocol (ORBN) Skyrockets by 1400% in Presale

February 3, 2023

Dacxi.com rebrands to Wealth99

February 2, 2023

What Is the Latest in Crypto? Terra Classic Community Approves Crucial Proposal to Resume Terra CLasic (LUNC) Burns, Fetch.Ai (FET) Ranks Among the Top AI Altcoins for Investors In 2023, Snowfall DEX Attracts More Investors to Snowfall Protocol (SNW) with A Week to Official Launch

February 2, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.