By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
CryptoCommunityCryptoCommunity
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Search
  • BTC
  • ETH
  • USDT
  • USDC
  • BNB
  • BUSD
  • ADA
  • XRP
  • SOL
  • DOGE
  • DOT
  • MATIC
Reading: Bitcoin Price Is Rising, Here’s What Could Trigger A Sharp Increase
Share
Aa
CryptoCommunityCryptoCommunity
Aa
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Search
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
CryptoCommunity > Blog > crypto > Bitcoin Price Is Rising, Here’s What Could Trigger A Sharp Increase
crypto

Bitcoin Price Is Rising, Here’s What Could Trigger A Sharp Increase

admin Published October 18, 2022
Last updated: 2022/10/18 at 7:50 AM
Share
SHARE

[ad_1]

Bitcoin price is slowly moving higher above $19,500 against the US Dollar. BTC could gain bullish momentum once it clears the $20,000 resistance zone.

Contents
Bitcoin Price Eyes More UpsidesDips Supported in BTC?
  • Bitcoin remained well bid and started a decent increase above $19,500.
  • The price is trading above $19,400 and the 100 hourly simple moving average.
  • There was a break above a key bearish trend line with resistance near $19,240 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could start a strong increase if there is a close above the $20,000 resistance zone.

Bitcoin Price Eyes More Upsides

Bitcoin price formed a base above the $19,000 resistance zone. BTC remained stable and started a slow and steady increase above the $19,200 level.

There was a break above a key bearish trend line with resistance near $19,240 on the hourly chart of the BTC/USD pair. The pair was able to clear the 50% Fib retracement level of the downward move from the $19,939 swing high to $19,000 low.

Bitcoin price is now trading above $19,400 and the 100 hourly simple moving average. On the upside, an immediate resistance is near the $19,600 level. It is close to the 61.8% Fib retracement level of the downward move from the $19,939 swing high to $19,000 low.

Source: BTCUSD on TradingView.com

The first major resistance sits near the $20,000 level. A clear move above the $20,000 resistance might pump the price in the near term. In the stated case, the price may perhaps test the $21,200 resistance. Any more gains might start a steady increase towards the $22,000 resistance zone.

Dips Supported in BTC?

If bitcoin fails to rise above the $20,000 resistance zone, it could start a downside correction. An immediate support on the downside is near the $19,200 zone and the 100 hourly simple moving average.

The next major support is near the $19,000 zone. A downside break and close below the $19,000 support zone might increase selling pressure. In the stated case, the price could decline towards the $18,500 support zone. Any more losses might send the price towards the $18,250 level.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $19,200, followed by $19,000.

Major Resistance Levels – $19,600, $20,000 and $21,200.

[ad_2]

You Might Also Like

How to earn bitcoins fast

How to Tell If a Cryptocurrency is a Scam or Not

Tips to Avoid Losing In Cryptocurrency Trading

How to Sell Products Online with Bitcoins – The Ultimate Guide

Get a Cryptocurrency Trader Certification to Get Ready For The Big Game!

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
[mc4wp_form]
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
admin October 18, 2022
Share this Article
Facebook TwitterEmail Print
Share
Previous Article Who is going to buy Cadillac’s $300,000 hand-built EV?
Next Article Ethereum Price Is Unstoppable and Why Break Above $1,400 Seems Imminent

Latest News

earn bitcoins fast
How to earn bitcoins fast
crypto
Cryptocurrency is a Scam or Not
How to Tell If a Cryptocurrency is a Scam or Not
crypto
Losing In Cryptocurrency Trading
Tips to Avoid Losing In Cryptocurrency Trading
crypto
Sell Products Online with Bitcoins
How to Sell Products Online with Bitcoins – The Ultimate Guide
crypto

You Might also Like

earn bitcoins fast
crypto

How to earn bitcoins fast

4 Min Read
Cryptocurrency is a Scam or Not
crypto

How to Tell If a Cryptocurrency is a Scam or Not

8 Min Read
Losing In Cryptocurrency Trading
crypto

Tips to Avoid Losing In Cryptocurrency Trading

6 Min Read
Sell Products Online with Bitcoins
crypto

How to Sell Products Online with Bitcoins – The Ultimate Guide

5 Min Read

Crypto Community

  • Home
  • Crypto Calculator
  • Blog
  • Contact Us
  • Privacy Policy
  • Disclaimer
  • Terms and Conditions

Real time Cryptocurrency

  • Crypto Prices
  • Dogecoin price
  • Shibainu coin price
  • Bitcoin Price
  • Cardano Price
  • Litecoins Price

Cryptocurrency Price USD

  • Bitcoin price USD
  • Ethereum price USD
  • Tether price USD
  • BNB Price USD
  • Cardano Price USD
  • Solana Price USD
  • Peps coin Price USD
  • floki inu Price USD
  • SIA coin Price USD
CryptoCommunityCryptoCommunity
Follow US

© 2022 Cryptos Community All Rights Reserved. All logos and images used on this website are registered trademarks of their respective companies. All Rights Reserved. Cryptos Community is not liable for inaccuracies, errors, or omissions found herein. For the removal of copyrighted images, trademarks, or other issues, Contact Us. 


Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?