TA- Bitcoin (BTC) Trades Above $20,800, Can Bulls Hold This Key Zone?

2022-8-20 12:06

Bitcoin (BTC) trades below $23,000 against Tether (USDT) after weeks of showing strong bullish signs as investors shift sentiments from bull to bear trap.

The price of BTC failed to sustain its bullish structure as it breaks below zones leaving investors confused as Bitcoin trades just above the weekly key zone.

Bitcoin (BTC) Trade Analysis On The Weekly Chart Weekly BTC Price Chart Analysis | Source: BTCUSDT On Tradingview.com

From the chart, the price of BTC saw a weekly low of $22,800, which bounced from that area and rallied to a price of $25,200 after showing great recovery signs in recent weeks. 

BTC’s weekly candle closed with a bullish sentiment with the new week’s candle looking bearish showing signs of weakness.

The price has struggled to build more momentum as it tries to hold key support.

If the price of BTC on the weekly chart continues with this structure, it could quickly revisit  $20,800 acting as key support. The price of BTC needs to hold this support zone to avoid going lower to the region of $19,000.

Weekly resistance for the price of BTC – $22,500.

Weekly support for the price of BTC – $20,800.

Price Of BTC On The Daily (1D) Chart Daily BTC Price Chart Analysis | Source: BTCUSDT On Tradingview.com

The price of BTC  broke to the downside of a rising wedge with more sell orders leading to BTC breaking key support zones.

BTC’s price needs to bounce and form support above to avoid panic selling below $20,800. 

Bitcoin has shown strength in holding this support, if bulls steps in we could trend higher to a region of $22,500 acting as the resistance for the price of BTC.

At the point of writing, the price of BTC is at $21,300, just below the 50 and 200 Exponential Moving Average (EMA) which corresponds to prices at $23,000 and $28,000.

The Relative Strength Index (RSI) for the price of BTC on the daily chart is below 35, indicating sell orders.

Daily (1D) resistance for BTC price – $22,500.

Daily (1D) support for BTC price – $20,800.

Price Analysis Of BTC On The Four-Hourly (4H) Chart Four-Hourly BTC Price Chart Analysis | Source: BTCUSDT On Tradingview.com

The price of BTC has continued to show a bearish structure below the 50 and 200 EMA price corresponding to $23,000 acting as resistance for the BTC price. 

If BTC fails to hold the support region of $20,800, we could see the price retesting the region of $19,000 as the next support area to hold the BTC price. After the retracement by BTC price, we would see a relief bounce before BTC’s next movement.

Four-Hourly (4H) resistance for BTC price – $23,000.

Four-Hourly (4H) support for BTC price – $20,800.

Featured image from zipmex, Charts from TradingView.com origin »

Bitcoin price in Telegram @btc_price_every_hour

Bitcoin (BTC) на Currencies.ru

$ 64967.95 (+0.02%)
Объем 24H $15.398b
Изменеия 24h: 0.07 %, 7d: 3.80 %
Cегодня L: $64811.49 - H: $65349.65
Капитализация $1303.796b Rank 1
Цена в час новости $ 21232.85 (205.98%)

trades btc bitcoin zone below key above

Источник: newsbtc.com

trades btc → Результатов: 126


Фото:

Peter Schiff maintains bearish stance on Bitcoin, Michael Saylor says it offers ‘hope’

Peter Schiff, an economist and staunch Bitcoin critic, has reiterated his bearish stance on the price of Bitcoin (BTC/USD), noting that the benchmark cryptocurrency could dip below $10,000. Bitcoin trades at $24k- Peter Schiff says $10,000 is coming According to Peter Schiff, putting Bitcoin’s “rally into perspective” reveals bears are still very much on top.

2022-8-16 19:14


Bitcoin Under Pressure Near $40K, Here Are 2 Reasons Why That Could Change Soon

Bitcoin remains rangebound in the high $30,000 to low $40,000 areas. The first crypto by market cap has seen its volatility reduce as several factors contribute to the slowdown across the sector. Related Reading | TA: Bitcoin Trims Gains, Support Turned Resistance At $41K At the time of writing, Bitcoin (BTC) trades at $40,500 with a 6% loss in the last 24-hours and a 1% profit over the past week.

2022-4-22 21:00


Get Ready For A Bitcoin Short Squeeze? Long Traders Pile Up As BTC Struggles

Bitcoin has been hinting at lower levels during today’s trading session. The benchmark crypto was rejected at around $48,000 and has been unable to reclaim its previous highs. Related Reading | Galaxy Digital’s Jason Urban What Will Drive Ethereum To Flip Bitcoin At the time of writing, Bitcoin trades at $43,100 with a 1% and 5% loss in the last 24 hours and 7 days, respectively.

2022-4-8 22:56


Фото:

This Trend on Bitfinex Puts Ethereum in a Precarious Position Compared to Bitcoin

Ethereum and Bitcoin have been seeing mixed price action in recent times The weakness seen by these two cryptocurrencies has been mounting over the past few days BTC is struggling to hold above $9,000 as Ethereum trades below its long-established trading range One trend that could have grave impacts for ETH in the near-term is the number of tokens being moved into exchanges – and particularly into Bitfinex This comes as the crypto finds itself […]

2020-6-29 22:00


Фото:

Bitcoin’s Consolation Signals It Is Coiling Up for a “Monster” Sized Movement

Bitcoin has been caught within a firm bout of consolidation throughout the past several weeks, being unable to garner any momentum as it trades within the $9,000 region The cryptocurrency is flashing some signs of overt weakness as of late, as buyers have laced the upper-$9,000 region with heavy resistance One analyst is now noting that this consolidation is likely to result in BTC making a “monster” sized movement If the resistance between $9,600 and […]

2020-6-15 19:00


Фото:

Bitcoin’s Price Spread on the CME is “Super Bullish” and Foretells Major Upside

Bitcoin has seen mixed price action in recent times, struggling to surmount $10,000 despite gaining a solid foothold within the $9,000 region Analysts are now noting that the cryptocurrency appears to be at a turning point as it trades directly between two CME gaps One analyst is also pointing to the massive BTC premium seen on the CME as a reason why the crypto is highly bullish Bitcoin saw some turbulent trading yesterday when sellers […]

2020-6-2 02:00


Фото:

Bitcoin’s Outlook is Bright as It Trades Above Key Cloud Formation

Bitcoin appears to have entered a firm consolidation phase within the mid-$9,000 region following the latest rejection at $10,000 In spite of the signs of weakness that BTC has flashed throughout the past several days, it is important to keep in mind that it has sustained above multiple key technical levels It now appears that the cryptocurrency could be well positioned to see further upside, but there is one key resistance level that must be […]

2020-5-17 22:00


Фото:

Stablecoin Market Caps Swell Over $7 Billion – Volumes Surpass Most Trading Pairs

While most digital assets have been suffering, stablecoins have been surging since the market downturn in mid-March and tether (USDT) is capturing more than 70% of BTC trades today. Besides tether, a wide range of other dollar-pegged cryptocurrencies have also benefited this month, as the market valuation of eight different stablecoins combined is well over […] The post Stablecoin Market Caps Swell Over $7 Billion – Volumes Surpass Most Trading Pairs appeared first on Bitcoin News.

2020-3-31 02:30


Bitcoin Futures Volumes Explode After Price Swing

The Bitcoin (BTC) futures market reawakened in early 2020, following more active price action on the spot markets. Across the board, leading futures trading platforms saw significant growth. Bitcoin Futures Volumes and Open Interest Peak as Prices Move Bitcoin futures bet on the price direction, and open interest as well as trades increased with the promise of higher volatility.

2020-1-9 21:00


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Analyst Eyes Parabolic Move above $300,000 as Bitcoin Holds Critical Macro Support

Bitcoin (BTC) is showing renewed strength after defending a key macro support zone that several analysts believe could determine the next major phase of the bull market. While short-term traders remain focused on nearby resistance and support levels, the broader technical picture is attracting attention for its potential to drive a much larger move over […]