BITCOIN PRICE GEARING FOR ANOTHER LIFTOFF TO $20‚000 ALTCOINS STABLE

Updated: 09/09/2022 03:57
Hyip Monitor
bitcoin price gearing for another lift off to 20k altcoins stable
Bitcoin is showing a few positive signs above $19000 against the US Dollar BTC could gain bullish momentum if it clears the $19400 resistance zone ...
Sponsored Links

Bitcoin is showing a few positive signs above $19,000 against the US Dollar. BTC could gain bullish momentum if it clears the $19,400 resistance zone.

Bitcoin started an upside correction and climbed above $19,000.
The price is now testing the $19,400 zone and the 100 hourly simple moving average.
There was a break above a key bearish trend line with resistance near $19,200 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair might start a decent increase if there is a clear move above the $19,500 resistance.

Bitcoin Price Attempts Upside Break


Bitcoin price found support near the $18,550 zone and recently started an upside correction. There was a steady recovery wave above the $19,000 resistance zone.

There was a break above a key bearish trend line with resistance near $19,200 on the hourly chart of the BTC/USD pair. The bulls were able to push the price above the 23.6% Fib retracement level of the downward move from the $20,172 swing high to $18,550 low.

Bitcoin price is now testing the $19,400 zone and the 100 hourly simple moving average. The price is also trading near the 50% Fib retracement level of the downward move from the $20,172 swing high to $18,550 low.

On the upside, an immediate resistance is near the $19,400 level and the 100 hourly simple moving average. The next major resistance sits near the $19,500 level. A proper close above the $19,500 resistance might start a steady increase to $20,000. Any more gains might send the price towards the $20,500 resistance zone.

Fresh Decline in BTC?


If bitcoin fails to gain pace above the $19,500 zone, it could start another decline. An immediate support on the downside is near the $19,200 zone.

The first major support is now forming near the $19,070 level. A downside break below the $19,070 level might send the price towards the $18,550 support. Any more losses below $18,550 might put a lot of pressure on the bulls. In the stated case, the price could drop towards the $18,000 support in the near term.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.
Major Support Levels – $19,070, followed by $18,550.
Major Resistance Levels – $19,400, $19,500 and $20,000.


About the author

Eric Marriam is a young writer. Even though he is not experienced he is able to make really high quality work. Eric is able to identify a problem people have and break it down, able to appeal to emotion through emotive writing, can change style of writing to cater to different audience. Eric Marriam is able to work creatively and effectively with staff and managers and despite his young age, he proved to be a clear and effective writer and speaker, committed to maintaining quality and efficiency, seeking for professional growth and development.
You May Also Like