{"id":452468,"date":"2020-12-17T03:48:18","date_gmt":"2020-12-17T03:48:18","guid":{"rendered":"https:\/\/ktsl888.com\/?p=452468"},"modified":"2024-06-11T14:12:05","modified_gmt":"2024-06-11T14:12:05","slug":"bitcoin-surges-above-22k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-surges-above-22k\/","title":{"rendered":"TA: Bitcoin Surges Above $22K, Why Rally Isn\u2019t Over Yet"},"content":{"rendered":"
Bitcoin price is up over 12% and it broke many hurdles near $20,000 and $22,000 against the US Dollar. BTC is showing strong bullish signs and it could continue to rise in the near term.<\/em><\/p>\n Yesterday, there was a clear break in bitcoin price<\/a> above the $19,500 and $19,800 resistance levels. As a result, BTC broke the $20,000 barrier to start a strong upward move.<\/p>\n The price traded to a new all-time high and settled above the 100 hourly simple moving average. The bulls are clearly in action, as they managed to pump the price above $21,000 and $22,000. During the rise, there was a break above a couple of bullish continuation<\/a> patters near $19,754 and $20,900 on the hourly chart of the BTC\/USD pair.<\/p>\n <\/a><\/p>\n The pair gained pace and it traded as high as $22,182 recently. It is currently consolidating gains and trading near $22,000. On the downside, an initial support is near the $21,700 level. It is close to the 50% Fib retracement level of the recent surge from the $21,251 swing low to $22,182 high.<\/p>\n On the upside, bitcoin price might face resistance near $22,200 and $22,450 levels. Any more upsides could lead the price towards the $23,500 level in the near term.<\/p>\n If bitcoin starts a short-term downside correction, it could find support near the $21,700 level. The first key support is near the $21,600 level.<\/p>\n The 61.8% Fib retracement level of the recent surge from the $21,251 swing low to $22,182 high is near $21,600 to provide support. Any more losses may possibly call for a test of the $21,000 zone in the near term.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is showing many positive signs in the bullish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently well in the overbought zone.<\/p>\n Major Support Levels \u2013 $21,700, followed by $21,600.<\/p>\n Major Resistance Levels \u2013 $22,200, $22,450 and $23,500.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin price is up over 12% and it broke many hurdles near $20,000 and $22,000 against the US Dollar. BTC is showing strong bullish signs and it could continue to rise in the near term. Bitcoin started a strong surge after it cleared the $19,800 and $20,000 resistance levels. The price is currently well above the $21,500 level and the 100 hourly simple moving average. There was a break above a couple of bullish continuation patters near $19,754 and $20,900 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could correct lower, but downsides might find support near $21,600 or $21,250. Bitcoin Price is Surging Yesterday, there was a clear break in bitcoin price above the $19,500 and $19,800 resistance levels. As a result, BTC broke the $20,000 barrier to start a strong upward move. The price traded to a new all-time high and settled above the 100 hourly simple moving average. The bulls are clearly in action, as they managed to pump the price above $21,000 and $22,000. During the rise, there was a break above a couple of bullish continuation patters near $19,754 and $20,900 on the hourly chart of the BTC\/USD pair. Source: BTCUSD on TradingView.com The pair gained pace and it traded as high as $22,182 recently. It is currently consolidating gains and trading near $22,000. On the downside, an initial support is near the $21,700 level. It is close to the 50% Fib retracement level of the recent surge from the $21,251 swing low to $22,182 high. On the upside, bitcoin price might face resistance near $22,200 and $22,450 levels. Any more upsides could lead the price towards the $23,500 level in the near term. Downsides Supported in BTC? If bitcoin starts a short-term downside correction, it could find support near the $21,700 level. The first key support is near the $21,600 level. The 61.8% Fib retracement level of the recent surge from the $21,251 swing low to $22,182 high is near $21,600 to provide support. Any more losses may possibly call for a test of the $21,000 zone in the near term. Technical indicators: Hourly MACD \u2013 The MACD is showing many positive signs in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently well in the overbought zone. Major Support Levels \u2013 $21,700, followed by $21,600. Major Resistance Levels \u2013 $22,200, $22,450 and $23,500.<\/p>\n","protected":false},"author":67,"featured_media":452471,"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-452468","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 is Surging<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Downsides Supported in BTC?<\/h2>\n