Bitcoin eyes the $22k resistance level as the market slowly recovers

Bitcoin eyes the $22k resistance level as the market slowly recovers
фото показано с : coinjournal.net

2022-8-23 13:50

Bitcoin could rally towards the $22k resistance level over the coming hours as the broader market slowly recovers.

The cryptocurrency market is slowly recovering today, following a slow start to the week. After losing more than 3% of its value on Monday, the crypto market is up by nearly 2% in the last 24 hours. 

The positive performance has pushed the total cryptocurrency market cap above the $1 trillion mark again.

Bitcoin nearly dropped below the $21k support level on Monday but has maintained its value above that threshold. Bitcoin is now trading around $21,400 per coin and could make a move for the $22k resistance level over the next few hours if the market momentum is maintained.

Bitcoin reaching the $25k psychological level in the near term would depend on the sentiment in the broader cryptocurrency market. 

Key levels to watch

The BTC/USD 4-hour chart remains bearish despite Bitcoin adding 1% to its value in the last 24 hours. The technical indicators show that Bitcoin’s performance is improving, but it is yet to be bullish.

The MACD line dropped into the negative zone on August 16 and has remained there. Thus, indicating that the bearish trend for Bitcoin is not yet over.

The 14-day relative strength index of 44 shows that Bitcoin is no longer in the oversold region. However, it is still some way from entering the overbought zone of the chart.

At press time, BTC is trading at $21,360 per coin. If the market recovery continues, BTC could surpass the $22,724 resistance level over the next few hours or days.

However, Bitcoin could find it hard to reach the second major resistance level at $23,960 in the near term unless there is a bullish movement.

The bears are still lurking and could regain control of the market. Doing so would see BTC fall below the $21k support level for the second time in less than a week. 

Bitcoin has maintained its value above $20k and should comfortably do so over the next few days.

The post Bitcoin eyes the $22k resistance level as the market slowly recovers appeared first on CoinJournal.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Level Up Coin (LUC) на Currencies.ru

$ 7.53E-5 (+0.68%)
Объем 24H $0
Изменеия 24h: 1.94 %, 7d: 12.29 %
Cегодня L: $7.53E-5 - H: $7.53E-5
Капитализация $75.097k Rank 1896
Доступно / Всего 996.923m LUC

level resistance 22k bitcoin recovers slowly market

Источник: coinjournal.net

level resistance → Результатов: 126


Фото:

Bitcoin Price Analysis: Slow Upward Drift Tests Market Supply

A slow, grinding upward drift has been the name of the game for bitcoin’s market over the last few weeks. The upward drift is bringing us slowly to a level that was previously rejected violently:Figure 1: BTC-USD, Daily Candles, Upward DriftOur third rejection of the red resistance level shown above brought the market into a test of macro support in the mid-$3,000s.

2019-3-23 01:23


Фото:

Op Ed: With Bitcoin, Anarchy Is the Point, Not the Problem

Last week, there was a panel at SXSW that was effectively a debate on the merits of permissioned blockchains versus permissionless systems like Bitcoin. I listened to the entire audio of the panel discussion, after Programming Bitcoin author Jimmy Song tweeted it out the other day, and I thought he did an awesome job of pointing out the key value proposition of Bitcoin and why it is not worth comparing to permissioned systems.

2019-3-23 17:29


Bitcoin Price Prediction Today: Daily (BTC) Value Forecast – March 20

Presently, the BTC price is trading at $3, 978.41 as at the time of writing. On the upside, if the 26-day EMA is holding the bulls will resume another bullish trend to retest the resistance level. BTC/USD Medium-term Trend: Bullish Resistance Levels: $6,800, $6,900, $7,000 Support levels: $3,800, $3,700, $3, 600 Yesterday, March 19, the […]

2019-3-20 09:31


Analyst: 4,000 is a Critical Level that Bitcoin Must Defend, Or Else Significant Losses Could be Imminent

Bitcoin (BTC) has now firmly planted itself in the low-$4,000 region and appears to be increasingly building relative levels of support at the ever-so-important psychological price of $4,000. Despite this, the cryptocurrency still faces resistance levels around $4,200, which may prove to be a difficult price level to break above.

2019-3-20 03:00


Bitcoin Price Prediction Today: Daily (BTC) Value Forecast – March 19

The BTC price is now trading at $4,085.10 and approaching the $4,200 resistance level. The BTC price is likely to face the resistance levels of $4120, and $4,200 price levels. BTC/USD Medium-term Trend: Bullish Resistance Levels: $6,800, $6,900, $7,000 Support levels: $3,800, $3,700, $3, 600 Yesterday, March 18, the price of Bitcoin was in a […]

2019-3-19 09:27


Фото:

Bitcoin Price Analysis: Slow Grind Could Lead to Short Squeeze

Last Friday, we discussed a macro resistance level bitcoin would likely test. The level was tested three times prior and immediately rejected. Now, for the fourth time, we find ourselves situated above the level as we wait to see if our support holds:Figure 1: BTC-USD, Daily Candles, Fourth Test of Macro ResistanceThe first three attempts to hold support above the black, broken resistance have been stifled with relatively high amounts of volume.

2019-3-19 01:17


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Mintlayer launches user-friendly staking platform with 198% APY

Bitcoin Layer-2 (L2) platform Mintlayer has announced an upgrade to its staking program, enhancing the user interface (UI) to make it more accessible and easier to use. The simplified staking program is integrated into Mintlayer’s blockexplorer and Mojito wallet browser extension, enabling users to stake their ML tokens and earn substantial rewards. Industry-leading APY attracts […]

PEPE takes a hit after GameStop inspired rally, here’s why it could dip lower

PEPE, one of the largest meme coins in the crypto ecosystem has wiped out 4.19% of its value early on Thursday. The return of legendary trader “Roaring Kitty” associated with GameStop’s 2021 rally catalyzed gains in top meme coins like Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), Dogwifhat (WIF), Popcat (POPCAT) and PEPE, among others.  […]