{"id":7167,"date":"2022-08-23T03:28:34","date_gmt":"2022-08-23T03:28:34","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2022\/08\/23\/bitcoin-price-recovery-faces-hurdle-why-100-sma-presents-resistance\/"},"modified":"2022-08-23T03:28:34","modified_gmt":"2022-08-23T03:28:34","slug":"bitcoin-price-recovery-faces-hurdle-why-100-sma-presents-resistance","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2022\/08\/23\/bitcoin-price-recovery-faces-hurdle-why-100-sma-presents-resistance\/","title":{"rendered":"Bitcoin Price Recovery Faces Hurdle, Why 100 SMA Presents Resistance"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p><em>Bitcoin discovered help close to $20,750 towards the US Dollar. BTC is correcting beneficial properties, however it&#8217;s going through resistance close to $21,500 and the 100 hourly SMA.<\/em><\/p>\n<ul>\n<li>Bitcoin discovered help close to the $20,750 after a robust decline.<\/li>\n<li>The worth is now buying and selling beneath the $21,500 degree and the 100 hourly easy shifting common.<\/li>\n<li>There was a break above a significant bearish pattern line with resistance close to $21,270 on the hourly chart of the BTC\/USD pair (knowledge feed from Kraken).<\/li>\n<li>The pair might get well greater if there&#8217;s a clear transfer above the $22,000 resistance.<\/li>\n<\/ul>\n<h2>Bitcoin Price Struggles<\/h2>\n<p>Bitcoin worth <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-bearish-weekly-close-22k\/\" target=\"_blank\" rel=\"noopener\">gained bearish momentum<\/a> beneath the $22,000 help zone. BTC declined beneath the $21,200 and $21,000 help ranges earlier than the bulls appeared.<\/p>\n<p>A low was shaped close to $20,797 and the value began a short-term upside correction. There was a minor upward transfer above the $21,000 degree. Besides, there was a break above a significant bearish pattern line with resistance close to $21,270 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>However, bitcoin worth confronted a robust resistance close to the $21,500 degree and the <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-downtrend-22-5k-key\/\" target=\"_blank\" rel=\"noopener\">100 hourly simple moving average<\/a>. It is now struggling to clear the $21,500 resistance zone.<\/p>\n<p>On the upside, a direct resistance is close to the 100 SMA at $21,450. The first main resistance on the upside sits close to the $21,650 degree. It is close to the 23.6% Fib retracement degree of the important thing decline from the $24,415 swing excessive to $20,797 low.<\/p>\n<p><a href=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/08\/Bitcoin-16.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-499636\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/08\/Bitcoin-16.png\" alt=\"Bitcoin Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/08\/Bitcoin-16.png 1834w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/08\/Bitcoin-16-460x212.png 460w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/08\/Bitcoin-16-860x396.png 860w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/08\/Bitcoin-16-768x354.png 768w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/08\/Bitcoin-16-1536x708.png 1536w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/08\/Bitcoin-16-750x346.png 750w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/08\/Bitcoin-16-1140x525.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>The most important resistance is forming close to the $22,000 zone. Any extra beneficial properties would possibly ship the value in the direction of the 50% Fib retracement degree of the important thing decline from the $24,415 swing excessive to $20,797 low. A detailed above the $22,500 and $22,650 resistance ranges would possibly push the value right into a optimistic zone.<\/p>\n<h2>More Losses in BTC?<\/h2>\n<p>If bitcoin fails to clear the $21,500 resistance zone and the 100 hourly SMA, it might proceed to maneuver down. An speedy help on the draw back is close to the $21,000 degree.<\/p>\n<p>The subsequent main help now sits close to the $20,800 degree. A draw back break and shut beneath the $20,800 degree would possibly begin one other main drop. In the said case, the value would possibly decline in the direction of the $20,000 degree.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now dropping tempo within the bearish 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 $21,000, adopted by $20,800.<\/p>\n<p>Major Resistance Levels \u2013 $21,500, $22,000 and $22,650.<\/p>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-recovery-faces-hurdle-22k\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Bitcoin discovered help close to $20,750 towards the US Dollar. BTC is correcting beneficial properties, however it&#8217;s going through resistance close to $21,500 and the 100 hourly SMA. Bitcoin discovered help close to the $20,750 after a robust decline. The worth is now buying and selling beneath the $21,500 degree and the 100 hourly 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