Bitcoin Price Prediction Daily, Bitcoin Price Analysis, Bitcoin Technical Analysis, Cryptocurrency And News

Bitcoin is trading in a positive zone above the $ 22,000 resistance against the US dollar. BTC could rise if a clear move above the $ 22,500 resistance occurs.

Bitcoin traded above the $ 21,500 and $ 22,000 resistance levels.

The price is now trading above $ 22,000 and the 100-hour simple moving average.

A major bullish draw is forming with support near $ 21,800 on the hourly chart of the BTC / USD pair (Kraken data feed).

The pair is consolidating gains and could see a further rise above the $22,500 resistance.

The price of bitcoin sees more upside

Bitcoin's price gained ground for a sharp move above the $ 21,500 and $ 22,000 resistance levels. The price even hovered above the $ 22,000 resistance zone and the 100-hour simple moving average. 

It recently attempted to clear the $ 22,500 resistance zone. It formed a high near $ 22,473 before the price began a downward correction. There was a move below the $ 22,200 level. The price traded below the 23.6% Fib retracement level of the upward move from the low of $ 21,180 to the high of $ 22,473.

Bitcoin's price is now trading above $ 22,000 and the 100-hour simple moving average. There is also a major bullish draw forming with support near $ 21,800 on the hourly chart of the BTC / USD pair.

On the upside, immediate resistance is near the $ 22,450 level. The next big resistance is near the $ 22,500 level. A close above the $ 22,500 resistance could initiate a new upside. In the case indicated, the price can go up to $ 23,200. Further gains could push the price towards the $ 24,000 resistance zone.

limited heat in BTC?

If Bitcoin fails to break out of the $ 22,500 resistance zone, a downward correction could begin. Immediate bearish support is near the $ 22,000 zone.

 The next big support is near the trend line and $ 21,800. It is close to the 50% Fibonacci retracement level of the climb from the low of $ 21,180 to the high of $ 22,473. The first major support is now forming near the $ 21,500 level. A break below the $ 21,500 level could send the price towards the $ 21,000 support.

Technical indicators:

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

Main Support Levels: $ 21,800, followed by $ 21,500. Major resistance levels: $ 22,450, $ 22,500 and $ 23,200.

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