Bitcoin gained pace and even spiked above the $22,000 resistance against the US Dollar. BTC is correcting gains, but dips might be limited below $21,500.
- Bitcoin was able to clear the $21,200 and $21,500 resistance levels.
- De Präis handelt elo iwwer $ 21,500 an dem 100 all Stonn einfache bewegt Duerchschnëtt.
- There is a key bullish trend lien forming with support near $21,600 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair is correcting gains, but dips might be limited below the $21,500 level.
Bitcoin Price Starts Fresh Rally
Bitcoin price remained well bid above the $20,000 level and started a frësch Erhéijung. There was a clear move above the $21,000 and $21,200 resistance levels.
The price even surpassed the $21,500 resistance and spiked above the $22,000 resistance. A high was formed near $22,347 and the price recently started a downside correction. There was a move below the $22,000 and $21,850 levels.
Bitcoin price traded below the 23.6% Fib retracement level of the recent increase from the $21,180 swing low to $22,347 high. It is now trading above $21,500 and the 100 Stonn einfach bewegt Duerchschnëtt. Besides, there is a key bullish trend lien forming with support near $21,600 on the hourly chart of the BTC/USD pair.
Source: BTCUSD op TradingView.com
On the upside, an immediate resistance is near the $22,000 level. The next major resistance sits near the $22,350 level. A clear move above the $22,350 resistance might start another steady increase. In the stated case, the price may perhaps rise towards $22,800. Any more gains might send the price towards the $23,200 resistance zone.
Dips Limited am BTC?
If bitcoin fails to gain pace above the $22,000 zone, it could start a downside correction. An immediate support on the downside is near the $21,700 zone.
The 50% Fib retracement level of the recent increase from the $21,180 swing low to $22,347 high is also near $21,700. The first major support is now forming near the $21,600 level. A downside break below the $21,600 level might send the price towards the $21,200 support.
Technesch Indikatiounen:
Hourly MACD - De MACD gewënnt elo Tempo an der bearish Zone.
All Stonn RSI (Relative Strength Index) - De RSI fir BTC / USD ass elo iwwer dem 50 Niveau.
Major Support Levels - $ 21,700, gefollegt vun $ 21,600.
Major Resistenzniveauen - $ 22,000, $ 22,350 an $ 23,200.
Source: https://www.newsbtc.com/analysis/btc/bitcoin-price-rockets-to-22k/