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NewsBTC 2022-06-24 03:08:02

TA: Bitcoin Price Eyes Upside Break, Why BTC Could Surge to $23K

Bitcoin is showing positive signs above the $20,500 zone against the US Dollar. BTC could rally if there is a clear move above the $21,250 resistance zone. Bitcoin remains well supported above the $20,000 and $20,500 levels. The price is now above the $20,500 level and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $20,450 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if it clears the $21,250 and $21,650 resistance levels. Bitcoin Price Could Gain Pace Bitcoin price started a downside correction below the $20,500 level. There was also a move below the $20,000 level, but the price was stable near the $19,750 zone. A low was formed near $19,750 and the price started fresh. BTC was able to clear the $20,000 and $20,500 resistance levels. Besides, there was a break above a major bearish trend line with resistance near $20,450 on the hourly chart of the BTC/USD pair. The pair climbed above the 50% Fib retracement level of the downward move from the $21,698 swing high to $19,750 low. Bitcoin is now above the $20,500 level and the 100 hourly simple moving average. An immediate resistance on the upside is near the $21,250 level. It is near the 76.4% Fib retracement level of the downward move from the $21,698 swing high to $19,750 low. The next key resistance is near the $21,650 level. A clear move above the $21,650 le...

Disclaimer : All crypto price forecasts provided on our website are only for general information. The content should not considered as financial advice, legal advice or any other form of advice meant for your investment. Conduct your own research before investing in any cryptocurrency. Trading is a highly risky business, please consult with your financial advisor before making any decision.