{"id":494198,"date":"2022-06-27T03:28:19","date_gmt":"2022-06-27T03:28:19","guid":{"rendered":"https:\/\/uniquehot.com\/?p=494198"},"modified":"2024-06-11T14:21:04","modified_gmt":"2024-06-11T14:21:04","slug":"ta-bitcoin-dips-could-be-limited-why-100-sma-is-the-key","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ta-bitcoin-dips-could-be-limited-why-100-sma-is-the-key\/","title":{"rendered":"TA: Bitcoin Dips Could Be Limited, Why 100 SMA Is The Key"},"content":{"rendered":"
Bitcoin is showing positive signs above the $21,000 zone against the US Dollar. BTC might start a fresh increase and could even clear the $21,750 resistance zone.<\/em><\/p>\n Bitcoin price started a decent increase<\/a> above the $20,000 resistance zone. The price was able to clear the $20,500 level to move into a positive zone.<\/p>\n There was a steady move above the $21,000 level and the 100 hourly simple moving average<\/a>. However, the bears were again active near the $21,700 and $21,750 levels. A high was formed near $21,780 and the price started a downside correction.<\/p>\n Bitcoin traded below the $21,500 level. There was a break below the 23.6% Fib retracement level of the upward move from the $19,750 swing low to $21,780 high.<\/p>\n Besides, there was a break below a key bullish trend line with support near $21,300 on the hourly chart of the BTC\/USD pair. It is now consolidating above the $21,000 level and the 100 hourly simple moving average. An immediate resistance on the upside is near the $21,250 level.<\/p>\n <\/a><\/p>\n The next key resistance is near the $21,750 level. A clear move above the $21,750 level might start a decent increase. In the stated case, the price could rise above the $22,200 level. Any more gains could send the price towards the $23,000 resistance zone.<\/p>\n If bitcoin fails to clear the $21,750 resistance zone, it could start another decline. An immediate support on the downside is near the $21,000 level and the 100 hourly SMA.<\/p>\n The first major support is near the $20,750 level. It is near the 50% Fib retracement level of the upward move from the $19,750 swing low to $21,780 high. A downside break below the $20,750 support could put a lot of pressure on the bulls in the near term. In the stated case, the price might slide towards the $20,000 level.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now just below the 50 level.<\/p>\n Major Support Levels \u2013 $21,000, followed by $20,750.<\/p>\n Major Resistance Levels \u2013 $21,250, $21,750 and $23,000.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin is showing positive signs above the $21,000 zone against the US Dollar. BTC might start a fresh increase and could even clear the $21,750 resistance zone. Bitcoin remains well supported above the $21,000 and $20,500 levels. The price is now above the $20,800 level and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $21,300 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could gain bullish momentum if it stays above $20,500 and the 100 hourly SMA. Bitcoin Price Remains Supported Bitcoin price started a decent increase above the $20,000 resistance zone. The price was able to clear the $20,500 level to move into a positive zone. There was a steady move above the $21,000 level and the 100 hourly simple moving average. However, the bears were again active near the $21,700 and $21,750 levels. A high was formed near $21,780 and the price started a downside correction. Bitcoin traded below the $21,500 level. There was a break below the 23.6% Fib retracement level of the upward move from the $19,750 swing low to $21,780 high. Besides, there was a break below a key bullish trend line with support near $21,300 on the hourly chart of the BTC\/USD pair. It is now consolidating above the $21,000 level and the 100 hourly simple moving average. An immediate resistance on the upside is near the $21,250 level. Source: BTCUSD on TradingView.com The next key resistance is near the $21,750 level. A clear move above the $21,750 level might start a decent increase. In the stated case, the price could rise above the $22,200 level. Any more gains could send the price towards the $23,000 resistance zone. Fresh Decline in BTC? If bitcoin fails to clear the $21,750 resistance zone, it could start another decline. An immediate support on the downside is near the $21,000 level and the 100 hourly SMA. The first major support is near the $20,750 level. It is near the 50% Fib retracement level of the upward move from the $19,750 swing low to $21,780 high. A downside break below the $20,750 support could put a lot of pressure on the bulls in the near term. In the stated case, the price might slide towards the $20,000 level. Technical indicators: Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now just below the 50 level. Major Support Levels \u2013 $21,000, followed by $20,750. Major Resistance Levels \u2013 $21,250, $21,750 and $23,000.<\/p>\n","protected":false},"author":67,"featured_media":463643,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1144,78790,76835],"class_list":["post-494198","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n\n
Bitcoin Price Remains Supported<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Fresh Decline in BTC?<\/h2>\n