{"id":6225,"date":"2022-08-09T03:30:02","date_gmt":"2022-08-09T03:30:02","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2022\/08\/09\/bitcoin-price-holds-support-why-btc-might-attempt-fresh-increase\/"},"modified":"2022-08-09T03:30:02","modified_gmt":"2022-08-09T03:30:02","slug":"bitcoin-price-holds-support-why-btc-might-attempt-fresh-increase","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2022\/08\/09\/bitcoin-price-holds-support-why-btc-might-attempt-fresh-increase\/","title":{"rendered":"Bitcoin Price Holds Support, Why BTC Might Attempt Fresh Increase"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p><em>Bitcoin value gained tempo above the $23,500 resistance towards the US Dollar. BTC may begin a recent improve if it stays above the $23,500 pivot stage.<\/em><\/p>\n<ul>\n<li>Bitcoin began a good improve above the $23,500 stage.<\/li>\n<li>The value is now buying and selling above the $23,500 stage and the 100 hourly easy shifting common.<\/li>\n<li>There is a key bullish development line forming with help close to $23,500 on the hourly chart of the BTC\/USD pair (information feed from Kraken).<\/li>\n<li>The pair should clear the $24,000 resistance to start out a recent improve within the close to time period.<\/li>\n<\/ul>\n<h2>Bitcoin Price Remains Supported<\/h2>\n<p>Bitcoin value was secure above the $23,000 and $23,200 ranges. The value fashioned a base above the $23,200 stage and began a <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-could-rally-24k\/\" target=\"_blank\" rel=\"noopener\">fresh increase<\/a>.<\/p>\n<p>There was a transparent transfer above the $23,500 resistance zone. The bulls had been capable of push the value above the $24,000 resistance zone and there was a detailed above the <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-downtrend-24k\/\" target=\"_blank\" rel=\"noopener\">100 hourly simple moving average<\/a>. There was a spike above the $24,200 stage.<\/p>\n<p>A excessive was fashioned close to $24,285 and the value is now correcting decrease. There was a break under the $24,000 stage. Bitcoin value dipped under the 23.6% Fib retracement stage of the upward transfer from the $22,845 swing low to $24,285 excessive.<\/p>\n<p>However, the value remained secure above the $23,600 stage. There can also be a key bullish development line forming with help close to $23,500 on the hourly chart of the BTC\/USD pair.<\/p>\n<p><a href=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/08\/Bitcoin-6.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-498075\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/08\/Bitcoin-6.png\" alt=\"Bitcoin Price\" width=\"1950\" height=\"1115\" srcset=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/08\/Bitcoin-6.png 1950w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/08\/Bitcoin-6-460x263.png 460w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/08\/Bitcoin-6-860x492.png 860w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/08\/Bitcoin-6-768x439.png 768w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/08\/Bitcoin-6-1536x878.png 1536w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/08\/Bitcoin-6-750x429.png 750w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/08\/Bitcoin-6-1140x652.png 1140w\" sizes=\"auto, (max-width: 1950px) 100vw, 1950px\"\/><\/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>On the upside, a direct resistance is close to the $24,000 stage. The subsequent key resistance is close to the $24,200 zone. A detailed above the $24,200 resistance zone may begin a gradual improve. In the said case, the value might maybe rise clear the $25,000 resistance.<\/p>\n<h2>Downside Break in BTC?<\/h2>\n<p>If bitcoin fails to clear the $24,000 resistance zone, it may begin a draw back correction. An fast help on the draw back is close to the $23,600 stage.<\/p>\n<p>The subsequent main help now sits close to the $23,500 stage. It is close to the 50% Fib retracement stage of the upward transfer from the $22,845 swing low to $24,285 excessive. A detailed under the $23,500 stage would possibly begin a transfer in the direction of $23,000. Any extra losses would possibly ship the value in the direction of $22,500 stage.<\/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 stage.<\/p>\n<p>Major Support Levels \u2013 $23,600, adopted by $23,500.<\/p>\n<p>Major Resistance Levels \u2013 $24,000, $24,200 and $24,500.<\/p>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-holds-support-23k\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Bitcoin value gained tempo above the $23,500 resistance towards the US Dollar. BTC may begin a recent improve if it stays above the $23,500 pivot stage. Bitcoin began a good improve above the $23,500 stage. The value is now buying and selling above the $23,500 stage and the 100 hourly easy shifting common. There [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":6227,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"on","ocean_gallery_id":[],"footnotes":""},"categories":[4],"tags":[3072,20,31,594,1784,342,110,162],"class_list":["post-6225","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market","tag-attempt","tag-bitcoin","tag-btc","tag-fresh","tag-holds","tag-increase","tag-price","tag-support","entry","has-media","owp-thumbs-layout-horizontal","owp-btn-normal","owp-tabs-layout-horizontal","has-no-thumbnails","has-product-nav"],"_links":{"self":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/6225","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/comments?post=6225"}],"version-history":[{"count":1,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/6225\/revisions"}],"predecessor-version":[{"id":6226,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/6225\/revisions\/6226"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/media\/6227"}],"wp:attachment":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/media?parent=6225"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/categories?post=6225"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/tags?post=6225"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}