{"id":16586,"date":"2023-01-23T03:53:50","date_gmt":"2023-01-23T03:53:50","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2023\/01\/23\/bitcoin-bulls-keeps-pushing-why-btc-price-increase-isnt-over-yet\/"},"modified":"2023-01-23T03:53:50","modified_gmt":"2023-01-23T03:53:50","slug":"bitcoin-bulls-keeps-pushing-why-btc-price-increase-isnt-over-yet","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2023\/01\/23\/bitcoin-bulls-keeps-pushing-why-btc-price-increase-isnt-over-yet\/","title":{"rendered":"Bitcoin Bulls Keeps Pushing, Why BTC Price Increase Isn\u2019t Over Yet"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p><em>Bitcoin value gained tempo and traded above $23,000. BTC is consolidating positive factors and would possibly begin one other enhance in direction of $23,500.<\/em><\/p>\n<ul>\n<li>Bitcoin traded to a brand new yearly excessive at $23,428 earlier than it began a draw back correction.<\/li>\n<li>The value is buying and selling above $22,000 and the 100 hourly easy transferring common.<\/li>\n<li>There is a serious bullish pattern line forming with help close to $22,000 on the hourly chart of the BTC\/USD pair (information feed from Kraken).<\/li>\n<li>The pair might begin a contemporary enhance if it stays above the $22,000 help zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Eyes Additional Gains<\/h2>\n<p>Bitcoin value began a serious enhance above the $21,500 resistance zone. BTC gained tempo and even broke the $22,000 resistance zone, just like <a href=\"https:\/\/newsbtc.com\/analysis\/eth\/ethereum-price-dips-1600\/\" target=\"_blank\" rel=\"noopener\">ethereum<\/a> at $1,550.<\/p>\n<p>The value surged above the $22,500 stage and settled nicely above the 100 hourly easy transferring common. It traded to a brand new yearly excessive at $23,428 and lately began a minor draw back correction. There was a minor transfer beneath the $23,000 stage.<\/p>\n<p>Bitcoin value declined beneath the 23.6% Fib retracement stage of the upward transfer from the $20,395 swing low to $24,248 excessive. However, the value remains to be buying and selling above $22,000 and the <a href=\"https:\/\/newsbtc.com\/analysis\/btc\/bitcoin-price-fresh-increase-21-5k\/\" target=\"_blank\" rel=\"noopener\">100 hourly simple moving average<\/a>.<\/p>\n<p>There can be a serious bullish pattern line forming with help close to $22,000 on the hourly chart of the BTC\/USD pair. An quick resistance is close to the $23,000 stage. The subsequent main resistance is close to the $23,200 zone, above which the value would possibly achieve bullish momentum.<\/p>\n<p><a href=\"https:\/\/newsbtc.com\/wp-content\/uploads\/2023\/01\/Bitcoin-19.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-517077\" src=\"https:\/\/newsbtc.com\/wp-content\/uploads\/2023\/01\/Bitcoin-19.png\" alt=\"Bitcoin Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/newsbtc.com\/wp-content\/uploads\/2023\/01\/Bitcoin-19.png 1834w, https:\/\/newsbtc.com\/wp-content\/uploads\/2023\/01\/Bitcoin-19-460x212.png 460w, https:\/\/newsbtc.com\/wp-content\/uploads\/2023\/01\/Bitcoin-19-860x396.png 860w, https:\/\/newsbtc.com\/wp-content\/uploads\/2023\/01\/Bitcoin-19-768x354.png 768w, https:\/\/newsbtc.com\/wp-content\/uploads\/2023\/01\/Bitcoin-19-1536x708.png 1536w, https:\/\/newsbtc.com\/wp-content\/uploads\/2023\/01\/Bitcoin-19-750x346.png 750w, https:\/\/newsbtc.com\/wp-content\/uploads\/2023\/01\/Bitcoin-19-1140x525.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=\"nofollow noopener\">BTCUSD on TradingView.com<\/a><\/p>\n<p>In the said case, the value might maybe rise in direction of the $23,500 stage. Any extra positive factors would possibly ship btc value in direction of the $24,500 stage.<\/p>\n<h2>Downside Correction in BTC?<\/h2>\n<p>If bitcoin value fails to clear the $23,000 resistance, it might proceed to maneuver down. An quick help on the draw back is close to the $22,400 zone.<\/p>\n<p>The subsequent main help is close to the $22,000 zone and the pattern line. It is near the 50% Fib retracement stage of the upward transfer from the $20,395 swing low to $24,248 excessive, beneath which the value would possibly achieve bearish momentum and take a look at $21,200. Any extra losses would possibly ship the value to $20,500 within the close to time period.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now shedding tempo within the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 stage.<\/p>\n<p>Major Support Levels \u2013 $22,400, adopted by $22,000.<\/p>\n<p>Major Resistance Levels \u2013 $23,000, $23,200 and $23,500.<\/p>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/newsbtc.com\/analysis\/btc\/bitcoin-bulls-keeps-pushing-24k\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Bitcoin value gained tempo and traded above $23,000. BTC is consolidating positive factors and would possibly begin one other enhance in direction of $23,500. Bitcoin traded to a brand new yearly excessive at $23,428 earlier than it began a draw back correction. The value is buying and selling above $22,000 and the 100 hourly 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