{"id":495146,"date":"2022-07-08T03:08:08","date_gmt":"2022-07-08T03:08:08","guid":{"rendered":"https:\/\/uniquehot.com\/?p=495146"},"modified":"2024-06-11T08:59:52","modified_gmt":"2024-06-11T08:59:52","slug":"ta-bitcoin-price-rallies-above-22k-why-dips-turn-attractive","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ta-bitcoin-price-rallies-above-22k-why-dips-turn-attractive\/","title":{"rendered":"TA: Bitcoin Price Rallies Above $22K, Why Dips Turn Attractive"},"content":{"rendered":"
Bitcoin surged nearly 10% and broke the $22,000 resistance zone against the US Dollar. BTC could correct lower, but the bulls might be active near $21,250.<\/em><\/p>\n Bitcoin price formed a base above the $20,000 level. BTC started a strong increase<\/a> by clearing the $20,500 and $20,800 resistance levels.<\/p>\n There was a sharp increase and the price climbed above the $21,500 level. It even broke the $22,000 hurdle and settled above the 100 hourly simple moving average<\/a>. A high is formed near $22,498 and the price is now consolidating gains.<\/p>\n It is trading well above the 23.6% Fib retracement level of the recent increase from the $19,750 swing low to $22,498 high. On the upside, the price is facing resistance near the $22,450 and $22,500 levels.<\/p>\n <\/a><\/p>\n The next key resistance is near the $22,800 zone. A close above the $22,800 resistance zone could set the pace for a test of the $23,200 level. Any more gains might open the doors for an increase towards the $24,000 level. The next major resistance sits near the $25,000 level.<\/p>\n 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 $21,850 level.<\/p>\n The next major support now sits near the $21,250 level or the broken channel trend line zone. It is near the 50% Fib retracement level of the recent increase from the $19,750 swing low to $22,498 high. A close below the $21,250 support zone could push the price to $20,500. In the stated case, there is a risk of a move towards the $20,000 level.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is now losing pace in the bullish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now in the overbought zone.<\/p>\n Major Support Levels \u2013 $21,850, followed by $21,250.<\/p>\n Major Resistance Levels \u2013 $22,500, $22,800 and $23,200.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin surged nearly 10% and broke the $22,000 resistance zone against the US Dollar. BTC could correct lower, but the bulls might be active near $21,250. Bitcoin jumped and broke a major hurdle near the $22,000 zone. The price is now trading above the $21,500 level and the 100 hourly simple moving average. There was a break above a key rising channel with resistance near $21,125 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could correct lower, but the bulls might be able to protect the $21,250 support. Bitcoin Price Starts Fresh Surge Bitcoin price formed a base above the $20,000 level. BTC started a strong increase by clearing the $20,500 and $20,800 resistance levels. There was a sharp increase and the price climbed above the $21,500 level. It even broke the $22,000 hurdle and settled above the 100 hourly simple moving average. A high is formed near $22,498 and the price is now consolidating gains. It is trading well above the 23.6% Fib retracement level of the recent increase from the $19,750 swing low to $22,498 high. On the upside, the price is facing resistance near the $22,450 and $22,500 levels. Source: BTCUSD on TradingView.com The next key resistance is near the $22,800 zone. A close above the $22,800 resistance zone could set the pace for a test of the $23,200 level. Any more gains might open the doors for an increase towards the $24,000 level. The next major resistance sits near the $25,000 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 $21,850 level. The next major support now sits near the $21,250 level or the broken channel trend line zone. It is near the 50% Fib retracement level of the recent increase from the $19,750 swing low to $22,498 high. A close below the $21,250 support zone could push the price to $20,500. In the stated case, there is a risk of a move towards the $20,000 level. Technical indicators: Hourly MACD \u2013 The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now in the overbought zone. Major Support Levels \u2013 $21,850, followed by $21,250. Major Resistance Levels \u2013 $22,500, $22,800 and $23,200.<\/p>\n","protected":false},"author":67,"featured_media":462847,"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-495146","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 Starts Fresh Surge<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Dips Supported in BTC?<\/h2>\n