{"id":493566,"date":"2022-06-21T03:08:31","date_gmt":"2022-06-21T03:08:31","guid":{"rendered":"https:\/\/ktsl888.com\/?p=493566"},"modified":"2024-06-11T13:11:38","modified_gmt":"2024-06-11T13:11:38","slug":"bitcoin-consolidates-21k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-consolidates-21k\/","title":{"rendered":"TA: Bitcoin Consolidates Near Key Juncture, Can The Bulls Make It"},"content":{"rendered":"
Bitcoin is struggling near the $21,000 resistance zone against the US Dollar. BTC could rally if it clears the $20,900 and $21,000 resistance levels.<\/em><\/p>\n Bitcoin price started an upside correction<\/a> after it traded as low as $17,600. There was a decent recovery wave above the $18,500 and $19,000 levels.<\/p>\n The price surpassed the 50% Fib retracement level of the main drop from the $22,951 high to $17,600 low. The price even cleared the $20,000 level and the 100 hourly simple moving average<\/a>. There is also a connecting bullish trend line forming with support near $20,275 on the hourly chart of the BTC\/USD pair.<\/p>\n However, the bears are now defending major gains above the $20,500 zone. Bitcoin is also struggling near the 61.8% Fib retracement level of the main drop from the $22,951 high to $17,600 low. An immediate resistance on the upside is near the $20,800 level. The first major resistance is near the $20,900 and $21,000 levels.<\/p>\n <\/a><\/p>\n A clear move above the $21,000 level could even push the price towards $21,800. Any more gains might send the price towards the $22,200 level in the coming sessions.<\/p>\n If bitcoin fails to clear the $21,000 resistance zone, it could start a fresh decline. An immediate support on the downside is near the $20,275 level and the trend line.<\/p>\n The next major support is near the $20,000 level and the 100 hourly SMA. A downside break below the $20,000 support could spark another decline. In the stated case, the price could test $18,800.<\/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 above the 50 level.<\/p>\n Major Support Levels \u2013 $20,275, followed by $20,000.<\/p>\n Major Resistance Levels \u2013 $20,900, $21,000 and $22,000.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin is struggling near the $21,000 resistance zone against the US Dollar. BTC could rally if it clears the $20,900 and $21,000 resistance levels. Bitcoin is showing a few positive signs above the $20,000 support. The price is now still above the $20,000 level and the 100 hourly simple moving average. There is a connecting bullish trend line forming with support near $20,275 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start a fresh decline if it stays below the key $21,000 resistance zone. Bitcoin Price Eyes Upside Break Bitcoin price started an upside correction after it traded as low as $17,600. There was a decent recovery wave above the $18,500 and $19,000 levels. The price surpassed the 50% Fib retracement level of the main drop from the $22,951 high to $17,600 low. The price even cleared the $20,000 level and the 100 hourly simple moving average. There is also a connecting bullish trend line forming with support near $20,275 on the hourly chart of the BTC\/USD pair. However, the bears are now defending major gains above the $20,500 zone. Bitcoin is also struggling near the 61.8% Fib retracement level of the main drop from the $22,951 high to $17,600 low. An immediate resistance on the upside is near the $20,800 level. The first major resistance is near the $20,900 and $21,000 levels. Source: BTCUSD on TradingView.com A clear move above the $21,000 level could even push the price towards $21,800. Any more gains might send the price towards the $22,200 level in the coming sessions. Fresh Decline in BTC? If bitcoin fails to clear the $21,000 resistance zone, it could start a fresh decline. An immediate support on the downside is near the $20,275 level and the trend line. The next major support is near the $20,000 level and the 100 hourly SMA. A downside break below the $20,000 support could spark another decline. In the stated case, the price could test $18,800. 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 above the 50 level. Major Support Levels \u2013 $20,275, followed by $20,000. Major Resistance Levels \u2013 $20,900, $21,000 and $22,000.<\/p>\n","protected":false},"author":67,"featured_media":463274,"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-493566","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 Eyes Upside Break<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Fresh Decline in BTC?<\/h2>\n