{"id":5278,"date":"2022-07-22T03:12:22","date_gmt":"2022-07-22T03:12:22","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2022\/07\/22\/bitcoin-price-could-rally-again-if-it-stays-above-this-key-support\/"},"modified":"2022-07-22T03:12:22","modified_gmt":"2022-07-22T03:12:22","slug":"bitcoin-price-could-rally-again-if-it-stays-above-this-key-support","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2022\/07\/22\/bitcoin-price-could-rally-again-if-it-stays-above-this-key-support\/","title":{"rendered":"Bitcoin Price Could Rally Again If It Stays Above This Key Support"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p><em>Bitcoin began a draw back correction from the $24,000 resistance towards the US Dollar. BTC is discovering bids close to $22,500 and would possibly begin a contemporary improve.<\/em><\/p>\n<ul>\n<li>Bitcoin began a draw back correction and traded beneath the $23,000 stage.<\/li>\n<li>The value is now buying and selling above the $22,000 stage and testing the 100 hourly easy shifting common.<\/li>\n<li>There was a break above a key bearish development line with resistance close to $22,750 on the hourly chart of the BTC\/USD pair (knowledge feed from Kraken).<\/li>\n<li>The pair would possibly proceed to rise if it stays above $22,500 and the 100 hourly SMA.<\/li>\n<\/ul>\n<h2>Bitcoin Price Remains Supported<\/h2>\n<p>Bitcoin value gained tempo and spiked above the <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-breaks-24k\/\" target=\"_blank\" rel=\"noopener\">$24,000 resistance zone<\/a>. However, the bears appeared close to $24,250. A excessive was shaped close to $24,264 and the value began a draw back correction.<\/p>\n<p>There was a transfer beneath the $24,000 and $23,500 ranges. The value declined beneath the 38.2% Fib retracement stage of the upward transfer from the $20,769 swing low to $24,264 excessive. Besides, there was a spike beneath the $23,000 stage.<\/p>\n<p>Bitcoin discovered help close to the $22,500 zone and the <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-surge-24k\/\" target=\"_blank\" rel=\"noopener\">100 hourly simple moving average<\/a>. It began a good upward transfer and climbed above $23,000.<\/p>\n<p>There was a break above a key bearish development line with resistance close to $22,750 on the hourly chart of the BTC\/USD pair. On the upside, bitcoin value might face resistance close to the $23,440 stage. The subsequent key resistance is close to the $23,880 zone.<\/p>\n<p><a href=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/07\/Bitcoin-17.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-496428\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/07\/Bitcoin-17.png\" alt=\"Bitcoin Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/07\/Bitcoin-17.png 1834w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/07\/Bitcoin-17-460x212.png 460w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/07\/Bitcoin-17-860x396.png 860w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/07\/Bitcoin-17-768x354.png 768w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/07\/Bitcoin-17-1536x708.png 1536w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/07\/Bitcoin-17-750x346.png 750w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/07\/Bitcoin-17-1140x525.png 1140w\" sizes=\"auto, (max-width: 1834px) 100vw, 1834px\"\/><\/a><\/p>\n<pre>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener\">BTCUSD on TradingView.com<\/a><\/pre>\n<p>An in depth above the $23,880 resistance zone might set the tempo for extra positive aspects. In the said case, the value could maybe rise in the direction of the $24,250 stage. The subsequent main resistance sits close to the $25,000 stage.<\/p>\n<h2>Downside Break in BTC?<\/h2>\n<p>If bitcoin fails to clear the $23,880 resistance zone, it might begin a draw back correction. An speedy help on the draw back is close to the $22,750 stage and the 100 hourly SMA.<\/p>\n<p>The subsequent main help now sits close to the $22,500 stage. A transparent break and shut beneath the $22,500 help zone would possibly ship the value in the direction of $21,450 within the close to time period and even $21,000.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now shedding tempo within the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD remains to be above the 50 stage.<\/p>\n<p>Major Support Levels \u2013 $22,750, adopted by $22,500.<\/p>\n<p>Major Resistance Levels \u2013 $23,440, $23,880 and $24,250.<\/p>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-could-rally-22500\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Bitcoin began a draw back correction from the $24,000 resistance towards the US Dollar. BTC is discovering bids close to $22,500 and would possibly begin a contemporary improve. Bitcoin began a draw back correction and traded beneath the $23,000 stage. The value is now buying and selling above the $22,000 stage and testing the 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