Bitcoin worth is trying a contemporary enhance above the $21,200 resistance zone. BTC might acquire bullish momentum if there’s a clear transfer above the $21,500 resistance.
- Bitcoin corrected decrease, nevertheless it discovered help close to the $20,500 zones.
- The worth is buying and selling above $21,000 and the 100 hourly easy transferring common.
- There’s a short-term key bullish pattern line forming with help close to $21,050 on the hourly chart of the BTC/USD pair (information feed from Kraken).
- The pair might begin a contemporary enhance if there’s a clear transfer above the $21,500 resistance zone.
Bitcoin Worth Stays Supported
Bitcoin worth began a draw back correction from the $21,500 resistance zone. BTC declined under the $21,000 help zone, much like ethereum.
Nonetheless, the bulls have been lively close to the $20,500 and $20,400 help ranges. A low is shaped close to $20,395 and the worth is now rising. There was a transparent transfer above the $20,850 resistance zone. The bulls pushed the worth above the 50% Fib retracement degree of the latest decline from the $21,639 swing excessive to $20,395 low.
Bitcoin worth is now buying and selling above $21,000 and the 100 hourly easy transferring common. There’s additionally a short-term key bullish pattern line forming with help close to $21,050 on the hourly chart of the BTC/USD pair.
A direct resistance is close to the $21,160 degree. It’s close to the 61.8% Fib retracement degree of the latest decline from the $21,639 swing excessive to $20,395. The subsequent main resistance is close to the $21,500 zone, above which the worth may acquire bullish momentum.
Supply: BTCUSD on TradingView.com
Within the acknowledged case, the worth might maybe rise in direction of the $22,000 degree. Any extra good points may ship btc worth in direction of the $22,500 degree.
One other Drop in BTC?
If bitcoin worth fails to clear the $21,250 resistance, it might begin a contemporary decline. A direct help on the draw back is close to the $21,050 zone and the pattern line.
The subsequent main help is close to the $20,500 zone, under which the worth may acquire bearish momentum and check $20,000. Any extra losses may ship the worth to $19,500 within the close to time period.
Technical indicators:
Hourly MACD – The MACD is now dropping tempo within the bearish zone.
Hourly RSI (Relative Power Index) – The RSI for BTC/USD is now above the 50 degree.
Main Help Ranges – $20,500, adopted by $20,000.
Main Resistance Ranges – $21,160, $21,250 and $21,500.
