{"id":16742,"date":"2023-01-25T04:16:28","date_gmt":"2023-01-25T04:16:28","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2023\/01\/25\/bitcoin-price-just-saw-technical-correction-but-key-uptrend-support-intact\/"},"modified":"2023-01-25T04:16:28","modified_gmt":"2023-01-25T04:16:28","slug":"bitcoin-price-just-saw-technical-correction-but-key-uptrend-support-intact","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2023\/01\/25\/bitcoin-price-just-saw-technical-correction-but-key-uptrend-support-intact\/","title":{"rendered":"Bitcoin Price Just Saw Technical Correction But Key Uptrend Support Intact"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p><em>Bitcoin value began a draw back correction beneath $23,000. BTC is testing an vital help and may begin a recent enhance in direction of $23,500.<\/em><\/p>\n<ul>\n<li>Bitcoin began a draw back correction and declined beneath the $23,000 help zone.<\/li>\n<li>The value is buying and selling beneath $23,000 and the 100 hourly easy transferring common.<\/li>\n<li>There is a significant bullish development line forming with help close to $22,400 on the hourly chart of the BTC\/USD pair (knowledge feed from Kraken).<\/li>\n<li>The pair may begin a recent enhance if it stays above the $22,000 help zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Tests Key Support<\/h2>\n<p>Bitcoin value <a href=\"https:\/\/newsbtc.com\/analysis\/btc\/bitcoin-price-surge-to-25k\/\" target=\"_blank\" rel=\"noopener\">struggled to clear the $23,400 and $23,500 resistance levels<\/a>. BTC began a draw back correction and traded beneath the $23,000 help zone.<\/p>\n<p>The value declined beneath the 23.6% Fib retracement stage of the important thing enhance from the $20,395 swing low to $24,250 excessive. The value even spiked beneath the $22,500 help stage. However, the bulls appeared close to the $22,200 help zone.<\/p>\n<p>There can also be a significant bullish development line forming with help close to $22,400 on the hourly chart of the BTC\/USD pair. Bitcoin value is now buying and selling beneath $23,000 and the 100 hourly easy transferring common.<\/p>\n<p>An quick resistance is close to the $22,700 stage. The subsequent main resistance is close to the $22,850 zone or the 100 hourly easy transferring common, above which the <a href=\"https:\/\/newsbtc.com\/analysis\/btc\/bitcoin-bulls-keeps-pushing-24k\/\" target=\"_blank\" rel=\"noopener\">price might gain bullish momentum<\/a>. In the acknowledged case, the value could maybe rise in direction of the $23,200 stage.<\/p>\n<p><a href=\"https:\/\/newsbtc.com\/wp-content\/uploads\/2023\/01\/Bitcoin-21.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-517377\" src=\"https:\/\/newsbtc.com\/wp-content\/uploads\/2023\/01\/Bitcoin-21.png\" alt=\"Bitcoin Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/newsbtc.com\/wp-content\/uploads\/2023\/01\/Bitcoin-21.png 1834w, https:\/\/newsbtc.com\/wp-content\/uploads\/2023\/01\/Bitcoin-21-460x212.png 460w, https:\/\/newsbtc.com\/wp-content\/uploads\/2023\/01\/Bitcoin-21-860x396.png 860w, https:\/\/newsbtc.com\/wp-content\/uploads\/2023\/01\/Bitcoin-21-768x354.png 768w, https:\/\/newsbtc.com\/wp-content\/uploads\/2023\/01\/Bitcoin-21-1536x708.png 1536w, https:\/\/newsbtc.com\/wp-content\/uploads\/2023\/01\/Bitcoin-21-750x346.png 750w, https:\/\/newsbtc.com\/wp-content\/uploads\/2023\/01\/Bitcoin-21-1140x525.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 nofollow\">BTCUSD on TradingView.com<\/a><\/p>\n<p>The subsequent resistance may very well be close to the $23,500 stage. Any extra beneficial properties may ship btc value in direction of the $24,200 stage.<\/p>\n<h2>More Losses in BTC?<\/h2>\n<p>If bitcoin value stays above the development line help or $22,200, it may proceed to maneuver down. An quick help on the draw back is close to the $22,000 zone.<\/p>\n<p>The subsequent main help is close to the $21,900 zone or the 50% Fib retracement stage of the important thing enhance from the $20,395 swing low to $24,250 excessive. A draw back break beneath the $21,900 stage may ship the value in direction of the $21,200 stage. Any extra losses may 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 dropping tempo within the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now beneath the 50 stage.<\/p>\n<p>Major Support Levels \u2013 $22,100, adopted by $22,000.<\/p>\n<p>Major Resistance Levels \u2013 $22,700, $22,850 and $23,200.<\/p>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/newsbtc.com\/analysis\/btc\/bitcoin-price-correction-22k\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Bitcoin value began a draw back correction beneath $23,000. BTC is testing an vital help and may begin a recent enhance in direction of $23,500. Bitcoin began a draw back correction and declined beneath the $23,000 help zone. The value is buying and selling beneath $23,000 and the 100 hourly easy transferring common. There 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