• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
Breaking News: Dogecoin (DOGE) Soars 8%, But An Uptick In This Metric Suggests A Pullback
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Dogecoin (DOGE) Soars 8%, But An Uptick In This Metric Suggests A Pullback

TA: Bitcoin Prints Bullish Pattern, Why Close Above $18.2K Could Be Game Changer

Aayush Jindal by Aayush Jindal
2 years ago
in BTC
Reading Time: 2 mins read
Advertisement

Bitcoin price remained stable above the $17,500 support against the US Dollar. BTC is showing bullish signs and a close above $18,200 could start a fresh surge.

  • Bitcoin formed a support base near the $17,380 level and climbed higher.
  • The price is now well above the $17,500 level and the 100 hourly simple moving average.
  • There was a break above a major bearish trend line with resistance near $17,800 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could gain bullish momentum if there is a close above $18,150 and $18,200.

Bitcoin Price is Showing Bullish Signs

There was another drop in bitcoin price below the $17,600 and $17,500 levels. However, BTC remained stable and it seems like there is a strong support base forming near the $17,380 level.

The recent low was near $17,382 before the price started an upward move. It broke the $17,500 and $17,600 levels. There was also a break above the $17,800 level and bitcoin price settled well above the 100 hourly simple moving average.

Get 30 FREE SPINS at Punt Casino - NO DEPOSIT REQUIRED! Start Playing Now.
No Deposit 40 FREE SPINS at Wild.io on SIGN UP. Wheel of fortune, daily bonuses, 10 BTC in prizes monthly! Start Playing Now!

More importantly, there was a break above a major bearish trend line with resistance near $17,800 on the hourly chart of the BTC/USD pair. The pair even spiked above $18,000, but it struggled to clear the $18,200 resistance.

Bitcoin Price

Source: BTCUSD on TradingView.com

A high is formed near $18,231 and the price is currently consolidating. It corrected below the 23.6% Fib retracement level of the recent upward move from the $17,382 swing low to $18,231 high.  Bitcoin now seems to be following a bullish flag pattern with resistance near the $18,030 level.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

A successful break above the $18,030 level could lead the price towards the $18,200 resistance. To start a strong rally, the price must settle nicely above the $18,200 resistance level. In the stated case, the price may perhaps clear the $18,500 resistance and rally towards $19,000.

Dips Supported in BTC?

If bitcoin fails to gain strength, it could test the $17,800 support. The 50% Fib retracement level of the recent upward move from the $17,382 swing low to $18,231 high is also near the $17,800 level.

The first major support sits near the $17,500 level. The main support is now forming near the $17,380 level, below which there is a risk of a larger decline in the coming sessions.

Technical indicators:

Hourly MACD – The MACD is slowly gaining momentum in the bullish zone.

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

Major Support Levels – $17,800, followed by $17,500.

Major Resistance Levels – $18,030, $18,200 and $18,500.

Tags: bitcoinbtcusdBTCUSDTxbtusd
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Aayush Jindal

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies and Financial Market Strategist with a background in IT and financial markets. He specialises in market strategies and technical analysis, and has spent over a DECADE as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin and Ethereum markets.

Related Posts

Bitcoin

Bitcoin Price Holds Key Support But The Bulls Seem To Be Losing Steam

2 days ago
Bitcoin Altcoins FTX

Bitcoin Price Resumes Increase as The Bulls Aim Larger Rally To $25K

3 days ago
Bitcoin

Bitcoin Price Just Saw Technical Correction But Key Uptrend Support Intact

4 days ago
Bitcoin

Bitcoin Price Gearing For Another Lift-Off and Might Surge To $25K

5 days ago
bitcoin bull RSI

Bitcoin Weekly RSI Reaches Line Between Bear & Bull Market

5 days ago
bitcoin price bull

Crypto Analyst Says Bitcoin Price Could See Another 30% Rally

6 days ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
Metaspins

Metaspins

Review · Visit
Coinplay

Coinplay

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

Fantom (FTM) founder makes announcement as they complete 100% rally, Solana (SOL) development updates & Why investors are flocking to Snowfall Protocol (SNW)

January 29, 2023

Dogecoin (DOGE) and Axie Infinity (AXS) Don’t Offer The Same 1000x Potential As Snowfall Protocol (SNW) According To Market Analysts

January 29, 2023

Crypto Market News Live: Aptos Soars Another 60% This Week in A Continued Price Rally, PancakeSwap Burns $100m Worth Of CAKE, Snowfall Set to Moon After Exceptionally Successful Presale Campaign

January 29, 2023

BudBlockz’s 220% Growth Puts It Ahead of Dogelon Mars and Floki Inu

January 28, 2023

MATIC Gains Over 20% As Polygon Network Records Biggest Whale Transaction Of 2023

January 28, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.