Bitcoin is moving higher and trading above the $20,000 zone against the US Dollar. BTC could surge if there is a clear move above $20,580 and $20,730.
Bitcoin is showing a few positive signs above the $20,000 support zone.
The price is now trading above the $20,000 level and the 100 hourly simple moving average.
There is a major bullish trend line forming with support near $19,800 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could start a strong upward move if there is a close above the $20,580 level.
Bitcoin Price Aims Fresh Increase
Bitcoin price stayed well above the $19,500 support zone. BTC formed a low near the $19,750 level and started another increase above the $20,000 resistance zone.
There was a steady move and the price climbed above the 50% Fib retracement level of the downward move from the $20,732 swing high to $19,750 low. The price is now trading above the $20,000 level and the 100 hourly simple moving average.
There is also a major bullish trend line forming with support near $19,800 on the hourly chart of the BTC/USD pair. Bitcoin price is now trading comfortably near the $20,500 zone and the 76.4% Fib retracement level of the downward move from the $20,732 swing high to $19,750 low.
Source: BTCUSD on TradingView.com
On the upside, the price is facing resistance near the $20,550 and $20,580 levels. The next key resistance is near the $20,730 zone. A close above the $20,730 resistance zone could open the doors for a strong increase. In the stated case, the price could rise towards the $21,500 level. The next major resistance sits near the $22,200 level.
Fresh Decline in BTC?
If bitcoin fails to clear the $20,730 resistance zone, it could start a downside correction. An immediate support on the downside is near the $20,200 level.
The next major support now sits near the $19,800 level or the trend line zone. A close below the $19,800 support zone could push the price to $19,500. In the stated case, there is a risk of a move towards the $18,750 level.
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 – $20,200, followed by $19,800.
Major Resistance Levels – $20,580, $20,730 and $21,200.
Bitcoin is moving higher and trading above the $20,000 zone against the US Dollar. BTC could surge if there is a clear move above $20,580 and $20,730.
Bitcoin is showing a few positive signs above the $20,000 support zone.
The price is now trading above the $20,000 level and the 100 hourly simple moving average.
There is a major bullish trend line forming with support near $19,800 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could start a strong upward move if there is a close above the $20,580 level.
Bitcoin price stayed well above the $19,500 support zone. BTC formed a low near the $19,750 level and started another increase above the $20,000 resistance zone.
There was a steady move and the price climbed above the 50% Fib retracement level of the downward move from the $20,732 swing high to $19,750 low. The price is now trading above the $20,000 level and the 100 hourly simple moving average.
There is also a major bullish trend line forming with support near $19,800 on the hourly chart of the BTC/USD pair. Bitcoin price is now trading comfortably near the $20,500 zone and the 76.4% Fib retracement level of the downward move from the $20,732 swing high to $19,750 low.
Source: BTCUSD on TradingView.com
On the upside, the price is facing resistance near the $20,550 and $20,580 levels. The next key resistance is near the $20,730 zone. A close above the $20,730 resistance zone could open the doors for a strong increase. In the stated case, the price could rise towards the $21,500 level. The next major resistance sits near the $22,200 level.
If bitcoin fails to clear the $20,730 resistance zone, it could start a downside correction. An immediate support on the downside is near the $20,200 level.
The next major support now sits near the $19,800 level or the trend line zone. A close below the $19,800 support zone could push the price to $19,500. In the stated case, there is a risk of a move towards the $18,750 level.
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 – $20,200, followed by $19,800.
Major Resistance Levels – $20,580, $20,730 and $21,200.
Tags: bitcoinbtcusdBTCUSDTxbtusd
FeedzyRead More
Bitcoin Magazine Is Bitcoin Out of Its Bear Market? These Analysts Think So Bitcoin is…
Bitcoin Magazine Bitcoin Breakout Could Be Around the Corner as Asset Is No Longer Oversold:…
Bitcoin Magazine Bitcoin Tops $81,000 — Is the Debasement Trade Back? Bitcoin soared past $81,000…
Bitcoin crossed $80,000 for the first time since May, extending its seven-day advance to roughly…
Falling open interest and subdued funding rates suggest the rally remains structurally healthy.Read MoreCoinDesk: Bitcoin,…
Your day-ahead look for Aug. 25, 2026Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]
