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{"id":499635,"date":"2022-08-23T03:08:22","date_gmt":"2022-08-23T03:08:22","guid":{"rendered":"https:\/\/uniquehot.com\/?p=499635"},"modified":"2024-06-11T14:22:51","modified_gmt":"2024-06-11T14:22:51","slug":"bitcoin-price-recovery-faces-hurdle-22k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-recovery-faces-hurdle-22k\/","title":{"rendered":"TA: Bitcoin Price Recovery Faces Hurdle, Why 100 SMA Presents Resistance"},"content":{"rendered":"

Bitcoin found support near $20,750 against the US Dollar. BTC is correcting gains, but it is facing resistance near $21,500 and the 100 hourly SMA.<\/em><\/p>\n

\n
Bitcoin found support near the $20,750 after a strong decline.<\/li>\n
The price is now trading below the $21,500 level and the 100 hourly simple moving average.<\/li>\n
There was a break above a major bearish trend line with resistance near $21,270 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could recover higher if there is a clear move above the $22,000 resistance.<\/li>\n<\/ul>\n
Bitcoin Price Struggles<\/h2>\n
Bitcoin price gained bearish momentum<\/a> below the $22,000 support zone. BTC declined below the $21,200 and $21,000 support levels before the bulls appeared.<\/p>\n
A low was formed near $20,797 and the price started a short-term upside correction. There was a minor upward move above the $21,000 level. Besides, there was a break above a major bearish trend line with resistance near $21,270 on the hourly chart of the BTC\/USD pair.<\/p>\n
However, bitcoin price faced a strong resistance near the $21,500 level and the 100 hourly simple moving average<\/a>. It is now struggling to clear the $21,500 resistance zone.<\/p>\n
On the upside, an immediate resistance is near the 100 SMA at $21,450. The first major resistance on the upside sits near the $21,650 level. It is near the 23.6% Fib retracement level of the key decline from the $24,415 swing high to $20,797 low.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
The main resistance is forming near the $22,000 zone. Any more gains might send the price towards the 50% Fib retracement level of the key decline from the $24,415 swing high to $20,797 low. A close above the $22,500 and $22,650 resistance levels might push the price into a positive zone.<\/p>\n
More Losses in BTC?<\/h2>\n
If bitcoin fails to clear the $21,500 resistance zone and the 100 hourly SMA, it could continue to move down. An immediate support on the downside is near the $21,000 level.<\/p>\n
The next major support now sits near the $20,800 level. A downside break and close below the $20,800 level might start another major drop. In the stated case, the price might decline towards the $20,000 level.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now losing pace in the bearish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n
Major Support Levels \u2013 $21,000, followed by $20,800.<\/p>\n
Major Resistance Levels \u2013 $21,500, $22,000 and $22,650.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin found support near $20,750 against the US Dollar. BTC is correcting gains, but it is facing resistance near $21,500 and the 100 hourly SMA. Bitcoin found support near the $20,750 after a strong decline. The price is now trading below the $21,500 level and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $21,270 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could recover higher if there is a clear move above the $22,000 resistance. Bitcoin Price Struggles Bitcoin price gained bearish momentum below the $22,000 support zone. BTC declined below the $21,200 and $21,000 support levels before the bulls appeared. A low was formed near $20,797 and the price started a short-term upside correction. There was a minor upward move above the $21,000 level. Besides, there was a break above a major bearish trend line with resistance near $21,270 on the hourly chart of the BTC\/USD pair. However, bitcoin price faced a strong resistance near the $21,500 level and the 100 hourly simple moving average. It is now struggling to clear the $21,500 resistance zone. On the upside, an immediate resistance is near the 100 SMA at $21,450. The first major resistance on the upside sits near the $21,650 level. It is near the 23.6% Fib retracement level of the key decline from the $24,415 swing high to $20,797 low. Source: BTCUSD on TradingView.com The main resistance is forming near the $22,000 zone. Any more gains might send the price towards the 50% Fib retracement level of the key decline from the $24,415 swing high to $20,797 low. A close above the $22,500 and $22,650 resistance levels might push the price into a positive zone. More Losses in BTC? If bitcoin fails to clear the $21,500 resistance zone and the 100 hourly SMA, it could continue to move down. An immediate support on the downside is near the $21,000 level. The next major support now sits near the $20,800 level. A downside break and close below the $20,800 level might start another major drop. In the stated case, the price might decline towards the $20,000 level. Technical indicators: Hourly MACD \u2013 The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level. Major Support Levels \u2013 $21,000, followed by $20,800. Major Resistance Levels \u2013 $21,500, $22,000 and $22,650.<\/p>\n","protected":false},"author":67,"featured_media":459185,"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-499635","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\nTA: Bitcoin Price Recovery Faces Hurdle, Why 100 SMA Presents Resistance<\/title>\n<meta name=\"description\" content=\"Bitcoin found support near $20,750 against the US Dollar. 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His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.","sameAs":["https:\/\/www.linkedin.com\/in\/aayush-jindal-358b6932\/","https:\/\/x.com\/twitter.com\/AayushJs"],"url":"https:\/\/uniquehot.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"TA: Bitcoin Price Recovery Faces Hurdle, Why 100 SMA Presents Resistance","url":"http:\/\/uniquehot.com\/news\/bitcoin-price-recovery-faces-hurdle-22k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-price-recovery-faces-hurdle-22k\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/03\/shutterstock_1043982583.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/03\/shutterstock_1043982583.jpg?fit=1000%2C667"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btcusd","btcusdt","xbtusd"],"dateCreated":"2022-08-23T03:08:22Z","datePublished":"2022-08-23T03:08:22Z","dateModified":"2024-06-11T14:22:51Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Bitcoin Price Recovery Faces Hurdle, Why 100 SMA Presents Resistance\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-recovery-faces-hurdle-22k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-recovery-faces-hurdle-22k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_1043982583.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_1043982583.jpg?fit=1000%2C667\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btcusd\",\"btcusdt\",\"xbtusd\"],\"dateCreated\":\"2022-08-23T03:08:22Z\",\"datePublished\":\"2022-08-23T03:08:22Z\",\"dateModified\":\"2024-06-11T14:22:51Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/03\/shutterstock_1043982583.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/499635"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=499635"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/499635\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/459185"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=499635"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=499635"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=499635"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}