The Gods Tips - Investing and Stock News
No Result
View All Result
  • Investing
  • Stock
  • Editor’s Pick
  • Economy
  • Bitcoin
  • Investing
  • Stock
  • Editor’s Pick
  • Economy
  • Bitcoin
No Result
View All Result
The Gods Tips - Investing and Stock News
No Result
View All Result
Home Bitcoin

Bitcoin Price Resumes Increase as The Crypto Bulls Take Control

admin by admin
January 16, 2023
in Bitcoin
0
Bitcoin Price Resumes Increase as The Crypto Bulls Take Control
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

Bitcoin price climbed further higher above $21,000. BTC is rising and might aim a move towards the $22,000 resistance zone in the near term.

Bitcoin climbed further higher above the $20,000 and $20,500 resistance levels.
The price is trading above $20,200 and the 100 hourly simple moving average.
There is a major bullish trend line forming with support near $20,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could rise further above the $21,500 resistance zone in the near term.

Bitcoin Price Gains Bullish Momentum

Bitcoin price gained a strong bullish momentum and settled above the $20,000 resistance zone. BTC even climbed above the $20,500 level to move into a positive zone.

The price consolidated for some time above the $20,500 level. A high is formed near $21,484 and the price is now showing signs of more upsides. It is now trading above $20,200 and the 100 hourly simple moving average. There is also a major bullish trend line forming with support near $20,500 on the hourly chart of the BTC/USD pair.

It is also trading above the 23.6% Fib retracement level of the upward move from the $20,248 swing low to $21,484 high. On the upside, an immediate resistance is near the $21,500 level.

Source: BTCUSD on TradingView.com

The next major resistance is near the $21,850 zone, above which the price might start another steady increase. In the stated case, the price may perhaps rise towards the $22,000 level. Any more gains might send btc price towards the $22,500 level.

Downside Correction in BTC?

If bitcoin price fails to clear the $21,500 resistance, it could start a downside correction. An immediate support on the downside is near the $21,000 level.

The next major support is near the $20,500 level and the trend line. It is near the 61.8% Fib retracement level of the upward move from the $20,248 swing low to $21,484 high. The main support is now forming near the $20,200 level, below which the price might retest $19,000.

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 – $20,500, followed by $20,200.

Major Resistance Levels – $21,500, $22,000 and $22,500.

Previous Post

How Investment Trading Can Help Grow Your Business

Next Post

AIER’s Everyday Price Index Falls for the Fifth Time in Six Months

admin

admin

Next Post
AIER’s Everyday Price Index Falls for the Fifth Time in Six Months

AIER’s Everyday Price Index Falls for the Fifth Time in Six Months

  • Trending
  • Comments
  • Latest
Can You Name These Charts? Different Types of Investments, Same Psychology.

Can You Name These Charts? Different Types of Investments, Same Psychology.

0
Steady PutWrite 2022 Year In Review

Steady PutWrite 2022 Year In Review

0
How Much Do You Need to Start Trading Options?

How Much Do You Need to Start Trading Options?

0
Options Strategies for Small Accounts

Options Strategies for Small Accounts

0
Can You Name These Charts? Different Types of Investments, Same Psychology.

Can You Name These Charts? Different Types of Investments, Same Psychology.

January 27, 2023
XRP Bulls Try To Break Consolidation At $0.4 To Conquer New Levels

XRP Bulls Try To Break Consolidation At $0.4 To Conquer New Levels

January 27, 2023
Combining Price Structure, MACD & ADX

Combining Price Structure, MACD & ADX

January 26, 2023
GNG TV: Airlines, Casinos, & Luxury… Oh My!

GNG TV: Airlines, Casinos, & Luxury… Oh My!

January 26, 2023
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Recent News

Can You Name These Charts? Different Types of Investments, Same Psychology.

Can You Name These Charts? Different Types of Investments, Same Psychology.

January 27, 2023
XRP Bulls Try To Break Consolidation At $0.4 To Conquer New Levels

XRP Bulls Try To Break Consolidation At $0.4 To Conquer New Levels

January 27, 2023
Combining Price Structure, MACD & ADX

Combining Price Structure, MACD & ADX

January 26, 2023
GNG TV: Airlines, Casinos, & Luxury… Oh My!

GNG TV: Airlines, Casinos, & Luxury… Oh My!

January 26, 2023
  • About Us
  • Contact Us
  • Email Whitelisting
  • Terms and Conditions
  • Privacy Policy
  • About Us
  • Contact Us
  • Email Whitelisting
  • Terms and Conditions
  • Privacy Policy

Disclaimer: Thegodstips.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.
Copyright © 2023 Thegodstips.com

No Result
View All Result
  • Investing
  • Stock
  • Editor’s Pick
  • Economy
  • Bitcoin

Disclaimer: Thegodstips.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.
Copyright © 2023 Thegodstips.com