Bitcoin worth is trying a recent improve above the $21,200 resistance zone. BTC may acquire bullish momentum if there’s a clear transfer above the $21,500 resistance.
Bitcoin corrected decrease, however it discovered assist close to the $20,500 zones.
The worth is buying and selling above $21,000 and the 100 hourly easy shifting common.
There’s a short-term key bullish pattern line forming with assist close to $21,050 on the hourly chart of the BTC/USD pair (information feed from Kraken).
The pair may begin a recent improve if there’s a clear transfer above the $21,500 resistance zone.
Bitcoin Worth Stays Supported
Bitcoin worth began a draw back correction from the $21,500 resistance zone. BTC declined beneath the $21,000 assist zone, much like ethereum.
Nonetheless, the bulls have been lively close to the $20,500 and $20,400 assist ranges. A low is shaped close to $20,395 and the worth is now rising. There was a transparent transfer above the $20,850 resistance zone. The bulls pushed the worth above the 50% Fib retracement stage of the latest decline from the $21,639 swing excessive to $20,395 low.
Bitcoin worth is now buying and selling above $21,000 and the 100 hourly easy shifting common. There’s additionally a short-term key bullish pattern line forming with assist close to $21,050 on the hourly chart of the BTC/USD pair.
A right away resistance is close to the $21,160 stage. It’s close to the 61.8% Fib retracement stage of the latest decline from the $21,639 swing excessive to $20,395. The following main resistance is close to the $21,500 zone, above which the worth may acquire bullish momentum.
Supply: BTCUSD on TradingView.com
Within the acknowledged case, the worth could maybe rise in the direction of the $22,000 stage. Any extra positive aspects may ship btc worth in the direction of the $22,500 stage.
One other Drop in BTC?
If bitcoin worth fails to clear the $21,250 resistance, it may begin a recent decline. A right away assist on the draw back is close to the $21,050 zone and the pattern line.
The following main assist is close to the $20,500 zone, beneath which the worth may acquire bearish momentum and take a look at $20,000. Any extra losses may ship the worth to $19,500 within the close to time period.
Technical indicators:
Hourly MACD – The MACD is now dropping tempo within the bearish zone.
Hourly RSI (Relative Energy Index) – The RSI for BTC/USD is now above the 50 stage.
Main Help Ranges – $20,500, adopted by $20,000.
Main Resistance Ranges – $21,160, $21,250 and $21,500.
