• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Sensei Inu Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Breaking News: BREAKING: Valkyrie Secures Green Light For Ethereum Futures ETF, Trading Launching Tomorrow
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: BREAKING: Valkyrie Secures Green Light For Ethereum Futures ETF, Trading Launching Tomorrow
Bitcoin
Sensei Inu Logo

TA: Bitcoin Price Smashes Resistance, Why $23K Could Be Next

Aayush Jindal by Aayush Jindal
1 year ago
in BTC
Reading Time: 2 mins read

Bitcoin gained pace above the $22,000 resistance against the US Dollar. BTC could rise further towards $23,000 if it stays above the $21,500 support.

  • Bitcoin is up over 5% and there was a move above the $22,000 resistance zone.
  • The price is now trading above the $21,800 level and testing the 100 hourly simple moving average.
  • There is a key connecting bullish trend line forming with support near $21,800 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair might continue to rise if it clears the $22,500 and $22,600 levels.

Bitcoin Price Gains Momentum

Bitcoin price remained supported above the $20,500 zone. The price started a decent increase and was able to clear the $21,500 resistance zone.

The bulls even pumped the price above the $22,000 resistance zone. The price traded as high as $22,766 and settled above the 100 hourly simple moving average. Recently, there was a downside correction below the $22,500 level.

Bitcoin dipped below the 50% Fib retracement level of the upward move from the $20,748 swing low to $22,766 high. However, the bulls were active near the $21,500 support zone and the 100 hourly simple moving average.

The price stayed above the 61.8% Fib retracement level of the upward move from the $20,748 swing low to $22,766 high. There is also a key connecting bullish trend line forming with support near $21,800 on the hourly chart of the BTC/USD pair.

Bitcoin Price

On the upside, bitcoin price could resistance near the $22,500 level. The next key resistance is near the $22,750 zone. A close above the $22,750 resistance zone could set the pace for more upsides. In the stated case, the price may perhaps rise towards the $23,000 level. The next major resistance sits near the $23,500 level.

Dips Supported in BTC?

If bitcoin fails to clear the $22,500 resistance zone, it could start a downside correction. An immediate support on the downside is near the $21,800 level.

The next major support now sits near the $21,500 level and the 100 hourly SMA. A clear move below the $21,500 support might send the price towards $20,500.

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 – $21,800, followed by $21,500.

Major Resistance Levels – $22,500, $22,750 and $23,000.

Tags: bitcoinbtcusdBTCUSDTxbtusd
Tweet123Share196ShareSend
Aayush Jindal

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies, and Financial Market Strategist. He specializes in market strategies and technical analysis and has spent over 15 years as a financial markets contributor and observer. He also founded an IT company and works rigorously in providing high-quality software services. Aayush possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin, and Ethereum markets. Follow him on Twitter @AayushJs.

Related Posts

Bitcoin Price Jumps

Bitcoin Bulls Aim Big After Recent Surge To $28K

14 hours ago
Bitcoin

Bitcoin Price Breaks Higher, Is the Rally Just Getting Started?

4 days ago
Bitcoin Price

Bitcoin Bulls Keep Pushing But Faces Rejection, 100 SMA Is The Key

5 days ago
Bitcoin price bull

Crypto Analyst Predicts Huge Double-Digit Breakout For Bitcoin Price

5 days ago
Bitcoin

Bitcoin Price Could See Recovery If It Holds This Key Support

6 days ago
Bitcoin Price BTC

Bitcoin Price Turns Vulnerable As Indicators Point To More Weakness

7 days ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Press Releases

  • The Next Bull Run Is Approaching, Follow The Smart Money...

    5 hours ago
  • Index CFDs: Experts Have Conducted A Comprehensive Study In...

    8 hours ago
  • Unbelievable: Tradecurve (TCRV) Skyrockets, Leaving...

    10 hours ago
  • Microsoft’s AI Reveals the Holy Trinity of Profit...

    10 hours ago
  • Investing in Trading 212: Is the Risk Worth the Reward?

    2 days ago

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.

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

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Win 8.88 BTC
  • Play Casino Games
  • Play Finance

© 2023 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.