{"id":519416,"date":"2023-02-13T03:15:47","date_gmt":"2023-02-13T03:15:47","guid":{"rendered":"https:\/\/uniquehot.com\/?p=519416"},"modified":"2024-06-11T11:04:59","modified_gmt":"2024-06-11T11:04:59","slug":"bitcoin-price-holds-key-support-21-5k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-holds-key-support-21-5k\/","title":{"rendered":"Bitcoin Price Holds Key Support But 100 SMA Is The Key To Recovery"},"content":{"rendered":"<p><em>Bitcoin price is consolidating above the $21,500 support. BTC could start a decent recovery if it clears the $22,000 resistance and the 100 hourly SMA.<\/em><\/p>\n<ul>\n<li>Bitcoin is struggling to start a recovery wave above the $22,000 resistance.<\/li>\n<li>The price is trading below $22,200 and the 100 hourly simple moving average.<\/li>\n<li>There was a break above a key bearish trend line with resistance near $21,900 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could continue to move down if it stays below the $22,000 resistance zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Continues to Struggle<\/h2>\n<p>Bitcoin price <a href=\"https:\/\/uniquehot.com\/analysis\/btc\/bitcoin-price-bearish-below-23k\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">extended its decline<\/a> below the $22,200 support zone. BTC even broke the $22,000 support zone and settled below the 100 hourly simple moving average.<\/p>\n<p>The price traded towards the $21,500 support zone. A low is formed near $21,475 and the price is now consolidating losses. There was a minor recovery wave above the $21,800 resistance zone. Besides, there was a break above a key bearish trend line with resistance near $21,900 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>Bitcoin price spiked above the 23.6% Fib retracement level of the downward move from the $23,450 swing high to $21,475 low. It is now trading below $22,200 and the 100 hourly simple moving average.<\/p>\n<p>An immediate resistance is near the $22,000 level and the <a href=\"https:\/\/uniquehot.com\/analysis\/btc\/bitcoin-price-takes-hit-22-5k\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>. The next major resistance is near the $22,200 zone. The main resistance is now near the $22,500 zone or the 50% Fib retracement level of the downward move from the $23,450 swing high to $21,475 low.<\/p>\n<p><a href=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/02\/Bitcoin-8.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-519417\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/02\/Bitcoin-8.png?resize=1834%2C845\" alt=\"Bitcoin Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/02\/Bitcoin-8.png?w=1834 1834w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/02\/Bitcoin-8.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/02\/Bitcoin-8.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/02\/Bitcoin-8.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/02\/Bitcoin-8.png?w=1536 1536w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/02\/Bitcoin-8.png?w=750 750w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/02\/Bitcoin-8.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/p>\n<p>A clear move above the $22,500 resistance might start a steady increase. In the stated case, the price may perhaps rise towards the $22,850 level. The next resistance could be near the $23,000 level, above which btc price might rise towards the $23,450 resistance zone.<\/p>\n<h2>More Losses in BTC?<\/h2>\n<p>If bitcoin price fails to clear the $22,000 resistance, it could continue to move down. An immediate support on the downside is near the $21,650 zone.<\/p>\n<p>The next major support is near the $21,500 level, below which the price might start major decline. In the stated case, the price could decline towards the $20,500 zone.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now losing pace in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $21,500, followed by $21,200.<\/p>\n<p>Major Resistance Levels \u2013 $22,000, $22,200 and $22,500.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is consolidating above the $21,500 support. BTC could start a decent recovery if it clears the $22,000 resistance and the 100 hourly SMA. Bitcoin is struggling to start a recovery wave above the $22,000 resistance. The price is trading below $22,200 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $21,900 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could continue to move down if it stays below the $22,000 resistance zone. Bitcoin Price Continues to Struggle Bitcoin price extended its decline below the $22,200 support zone. BTC even broke the $22,000 support zone and settled below the 100 hourly simple moving average. The price traded towards the $21,500 support zone. A low is formed near $21,475 and the price is now consolidating losses. There was a minor recovery wave above the $21,800 resistance zone. Besides, there was a break above a key bearish trend line with resistance near $21,900 on the hourly chart of the BTC\/USD pair. Bitcoin price spiked above the 23.6% Fib retracement level of the downward move from the $23,450 swing high to $21,475 low. It is now trading below $22,200 and the 100 hourly simple moving average. An immediate resistance is near the $22,000 level and the 100 hourly simple moving average. The next major resistance is near the $22,200 zone. The main resistance is now near the $22,500 zone or the 50% Fib retracement level of the downward move from the $23,450 swing high to $21,475 low. Source: BTCUSD on TradingView.com A clear move above the $22,500 resistance might start a steady increase. In the stated case, the price may perhaps rise towards the $22,850 level. The next resistance could be near the $23,000 level, above which btc price might rise towards the $23,450 resistance zone. More Losses in BTC? If bitcoin price fails to clear the $22,000 resistance, it could continue to move down. An immediate support on the downside is near the $21,650 zone. The next major support is near the $21,500 level, below which the price might start major decline. In the stated case, the price could decline towards the $20,500 zone. 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 below the 50 level. Major Support Levels \u2013 $21,500, followed by $21,200. Major Resistance Levels \u2013 $22,000, $22,200 and $22,500.<\/p>\n","protected":false},"author":67,"featured_media":413505,"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":[428,679,1144,78790,76835],"class_list":["post-519416","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n<title>Bitcoin Price Holds Key Support But 100 SMA Is The Key To Recovery<\/title>\n<meta name=\"description\" content=\"Bitcoin price is consolidating above the $21,500 support. 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Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation. As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. 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":"Bitcoin Price Holds Key Support But 100 SMA Is The Key To Recovery","url":"http:\/\/uniquehot.com\/news\/bitcoin-price-holds-key-support-21-5k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-price-holds-key-support-21-5k\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/02\/bitcoin-btcanalysis-struggle.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/02\/bitcoin-btcanalysis-struggle.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","bitcoin price","btcusd","btcusdt","xbtusd"],"dateCreated":"2023-02-13T03:15:47Z","datePublished":"2023-02-13T03:15:47Z","dateModified":"2024-06-11T11:04:59Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Holds Key Support But 100 SMA Is The Key To Recovery\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-holds-key-support-21-5k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-holds-key-support-21-5k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/02\\\/bitcoin-btcanalysis-struggle.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/02\\\/bitcoin-btcanalysis-struggle.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\",\"bitcoin price\",\"btcusd\",\"btcusdt\",\"xbtusd\"],\"dateCreated\":\"2023-02-13T03:15:47Z\",\"datePublished\":\"2023-02-13T03:15:47Z\",\"dateModified\":\"2024-06-11T11:04:59Z\"}<\/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\/2020\/02\/bitcoin-btcanalysis-struggle.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/519416"}],"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=519416"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/519416\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/413505"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=519416"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=519416"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=519416"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}