{"id":9749,"date":"2022-09-30T04:27:53","date_gmt":"2022-09-30T04:27:53","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2022\/09\/30\/bitcoin-price-forms-bullish-pattern-why-btc-could-rally-above-20k\/"},"modified":"2022-09-30T04:27:53","modified_gmt":"2022-09-30T04:27:53","slug":"bitcoin-price-forms-bullish-pattern-why-btc-could-rally-above-20k","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2022\/09\/30\/bitcoin-price-forms-bullish-pattern-why-btc-could-rally-above-20k\/","title":{"rendered":"Bitcoin Price Forms Bullish Pattern, Why BTC Could Rally Above $20K"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div wp_automatic_readability=\"94.419489912448\">\n<p><em>Bitcoin worth is holding beneficial properties above the $19,000 stage in opposition to the US Dollar. BTC might rally if there&#8217;s a clear transfer above the $19,660 resistance zone.<\/em><\/p>\n<ul>\n<li>Bitcoin remained secure and consolidated above the $19,000 assist zone.<\/li>\n<li>The worth is buying and selling above $19,100 and the 100 hourly easy shifting common.<\/li>\n<li>There is a key bullish development line forming with assist close to $19,220 on the hourly chart of the BTC\/USD pair (information feed from Kraken).<\/li>\n<li>The pair might begin a contemporary surge if there&#8217;s a clear transfer above the $19,660 resistance zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Consolidates<\/h2>\n<p>Bitcoin worth began a restoration wave from the <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-resilience-18-5k\/\" target=\"_blank\" rel=\"noopener\">$18,500 support zone<\/a>. BTC bulls remained lively above the $18,500 stage and managed to push the value above the $19,000 resistance zone.<\/p>\n<p>There was a transparent transfer above the 50% Fib retracement stage of the important thing decline from the $20,382 swing excessive to $18,486 low. The worth even climbed above the $19,500 resistance zone, however the bears had been lively close to the $19,650 and $19,660 ranges.<\/p>\n<p>Bitcoin worth is now consolidating above $19,100 and the <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-trims-gains-18k\/\" target=\"_blank\" rel=\"noopener\">100 hourly simple moving average<\/a>. There can be a key bullish development line forming with assist close to $19,220 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>On the upside, a direct resistance is close to the $19,500 stage. The subsequent main resistance sits close to the $19,660 zone. It is near the 61.8% Fib retracement stage of the important thing decline from the $20,382 swing excessive to $18,486 low.<\/p>\n<p><a href=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Bitcoin-31.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-504399\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Bitcoin-31.png\" alt=\"Bitcoin Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Bitcoin-31.png 1834w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Bitcoin-31-460x212.png 460w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Bitcoin-31-860x396.png 860w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Bitcoin-31-768x354.png 768w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Bitcoin-31-1536x708.png 1536w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Bitcoin-31-750x346.png 750w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Bitcoin-31-1140x525.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\">BTCUSD on TradingView.com<\/a><\/p>\n<p>A transparent transfer above the $19,660 resistance would possibly begin a contemporary enhance. In the said case, the value might even surpass the $20,000 resistance zone. The subsequent main resistance is close to the $20,500 zone, above which the value might maybe revisit the $21,000 zone.<\/p>\n<h2>Another Drop in BTC?<\/h2>\n<p>If bitcoin fails to rise above the $19,660 resistance zone, it might begin a contemporary decline. An rapid assist on the draw back is close to the $19,350 zone and the 100 hourly SMA.<\/p>\n<p>The subsequent main assist is close to the $19,220 zone and the bullish development line. The principal assist is close to $19,000. Any extra losses would possibly name for a drop in the direction of the $18,500 assist zone within the coming classes.<\/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 is now above the 50 stage.<\/p>\n<p>Major Support Levels \u2013 $19,220, adopted by $19,000.<\/p>\n<p>Major Resistance Levels \u2013 $19,660, $20,000 and $20,500.<\/p>\n<\/p><\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-bullish-pattern-20k\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Bitcoin worth is holding beneficial properties above the $19,000 stage in opposition to the US Dollar. BTC might rally if there&#8217;s a clear transfer above the $19,660 resistance zone. Bitcoin remained secure and consolidated above the $19,000 assist zone. The worth is buying and selling above $19,100 and the 100 hourly easy shifting common. 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