{"id":11841,"date":"2022-11-01T03:53:14","date_gmt":"2022-11-01T03:53:14","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2022\/11\/01\/bitcoin-price-close-above-100-sma-could-spark-a-fresh-surge-heres-why\/"},"modified":"2022-11-01T03:53:14","modified_gmt":"2022-11-01T03:53:14","slug":"bitcoin-price-close-above-100-sma-could-spark-a-fresh-surge-heres-why","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2022\/11\/01\/bitcoin-price-close-above-100-sma-could-spark-a-fresh-surge-heres-why\/","title":{"rendered":"Bitcoin Price Close Above 100 SMA Could Spark A Fresh Surge: Here\u2019s Why"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div wp_automatic_readability=\"90.905721482548\">\n<p><em>Bitcoin value began a draw back correction under $20,500 towards the US Dollar. BTC might begin a contemporary surge if it clears the 100 hourly SMA after which $21,000.<\/em><\/p>\n<ul>\n<li>Bitcoin is recovering losses from the $20,250 help zone.<\/li>\n<li>The value is buying and selling under $20,700 and the 100 hourly easy transferring common.<\/li>\n<li>There is a significant bearish development line forming with resistance close to $20,680 on the hourly chart of the BTC\/USD pair (information feed from Kraken).<\/li>\n<li>The pair might begin one other upward transfer if it clears the 100 hourly SMA after which $21,000.<\/li>\n<\/ul>\n<h2>Bitcoin Price Remains Supported<\/h2>\n<p>Bitcoin value began a <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-lacking-momentum-21k\/\" target=\"_blank\" rel=\"noopener\">downside correction<\/a> after it did not surpass the $21,000 resistance zone. BTC corrected decrease under the $20,600 and $20,500 ranges.<\/p>\n<p>The decline gained tempo under the $20,500 degree and the 100 hourly easy transferring common. However, the bulls have been energetic close to the $20,250 degree. A low was shaped close to $20,250 and the value began a gradual upward transfer. There was a wave above the $20,400 and $20,500 ranges.<\/p>\n<p>Bitcoin value climbed above the 23.6% Fib retracement degree of the downward transfer from the $21,074 swing excessive to $20,250 low. On the upside, a direct resistance is close to the $20,600 zone and the <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-btc-could-rise-again\/\" target=\"_blank\" rel=\"noopener\">100 hourly simple moving average<\/a>.<\/p>\n<p>The first main resistance sits close to the $20,700 degree. There can be a significant bearish development line forming with resistance close to $20,680 on the hourly chart of the BTC\/USD pair. The development line is close to the 50% Fib retracement degree of the downward transfer from the $21,074 swing excessive to $20,250 low.<\/p>\n<p><a href=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/11\/Bitcoin.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-508790\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/11\/Bitcoin.png\" alt=\"Bitcoin Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/11\/Bitcoin.png 1834w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/11\/Bitcoin-460x212.png 460w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/11\/Bitcoin-860x396.png 860w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/11\/Bitcoin-768x354.png 768w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/11\/Bitcoin-1536x708.png 1536w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/11\/Bitcoin-750x346.png 750w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/11\/Bitcoin-1140x525.png 1140w\" sizes=\"auto, (max-width: 1834px) 100vw, 1834px\"\/><\/a><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener\">BTCUSD on TradingView.com<\/a><\/p>\n<p>The subsequent main resistance remains to be close to $21,000. A clear transfer above the $21,000 resistance may begin a contemporary surge. In the said case, the value might maybe rise in the direction of the $22,500 resistance zone.<\/p>\n<h2>More Downsides in BTC?<\/h2>\n<p>If bitcoin fails to clear above the $20,700 resistance zone, it might begin one other downward transfer. An instant help on the draw back is close to the $20,400 zone.<\/p>\n<p>The subsequent main help is close to the $20,250 zone. The fundamental help sits at $20,000, under which there&#8217;s a threat of a bigger decline. In this case, the value might maybe decline in the direction of the $19,200 degree.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining tempo within the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 degree.<\/p>\n<p>Major Support Levels \u2013 $20,400, adopted by $20,250.<\/p>\n<p>Major Resistance Levels \u2013 $20,600, $20,700 and $21,000.<\/p>\n<\/p><\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-fresh-surge-21k\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Bitcoin value began a draw back correction under $20,500 towards the US Dollar. BTC might begin a contemporary surge if it clears the 100 hourly SMA after which $21,000. Bitcoin is recovering losses from the $20,250 help zone. The value is buying and selling under $20,700 and the 100 hourly easy transferring common. There 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