Tuesday, June 6, 2023
TopCrytpoNews.com
Shop
No Result
View All Result
  • Home
  • Cryptocurrency
  • Blockchain
  • Market & Analysis
  • Bitcoin
  • Altcoins
  • Dogecoin
  • Ethereum
  • Litecoin
  • Solana
TopCrytpoNews.com
No Result
View All Result
Home Bitcoin

Bitcoin Price Surges 6%, Why Recent Breakout Looks Real

Mikhailev by Mikhailev
August 11, 2022
in Bitcoin
0
Bitcoin Price Surges 6%, Why Recent Breakout Looks Real
Share on FacebookShare on Twitter


Bitcoin value discovered help above $22,500 and surged over 6% in opposition to the US Greenback. BTC broke many hurdles and may rise additional in direction of the $25,000 resistance.

  • Bitcoin began a contemporary improve after it discovered sturdy bids above $22,500.
  • The worth is now buying and selling above the $23,500 degree and the 100 hourly easy shifting common.
  • There was a break above a key bearish development line with resistance close to $23,350 on the hourly chart of the BTC/USD pair (knowledge feed from Kraken).
  • The pair is forming a bullish breakout sample and may rise in direction of $25,000.

Bitcoin Worth Breaks Resistance

Bitcoin value remained well supported above the $22,500 zone. BTC shaped a double backside sample close to the $22,500 degree and began a powerful improve.

There was a transfer above the $23,000 and $23,500 resistance ranges. The worth even surged above the $24,000 resistance. There was a break above a key bearish development line with resistance close to $23,350 on the hourly chart of the BTC/USD pair.

Bitcoin value even broke the $24,200 resistance and traded as excessive as $24,488. It’s now consolidating positive factors above the $24,200 help zone. Additionally it is nicely above the 23.6% Fib retracement degree of the upward transfer from the $22,685 swing low to $24,488 excessive.

Bitcoin Price

Supply: BTCUSD on TradingView.com

On the upside, a right away resistance is close to the $24,450 degree. The subsequent key resistance is close to the $24,500 zone. An in depth above the $24,500 resistance zone may begin one other improve. Within the acknowledged case, the value might maybe rise in direction of the $25,000 resistance.

Dips Restricted in BTC?

If bitcoin fails to clear the $24,500 resistance zone, it may right decrease. A direct help on the draw back is close to the $24,200 degree. The subsequent main help now sits close to the $24,000 degree.

If the bears push the value beneath the $24,000 help degree, there may be a transfer in direction of the $23,550 degree. It’s close to the 50% Fib retracement degree of the upward transfer from the $22,685 swing low to $24,488 excessive. Any extra losses may ship the value in direction of $23,450 degree or the 100 hourly easy shifting common.

Technical indicators:

Hourly MACD – The MACD is now shedding tempo within the bullish zone.

Hourly RSI (Relative Energy Index) – The RSI for BTC/USD is now nicely above the 50 degree.

Main Help Ranges – $24,200, adopted by $23,500.

Main Resistance Ranges – $24,450, $24,500 and $25,000.



Source link

Related articles

Bitcoin price will get ‘another test’ of 200-week trend line — analyst

Bitcoin price will get ‘another test’ of 200-week trend line — analyst

June 5, 2023
‘$31K was not the end’ — 5 things to know in Bitcoin this week

‘$31K was not the end’ — 5 things to know in Bitcoin this week

June 5, 2023
Share76Tweet47

Related Posts

Bitcoin price will get ‘another test’ of 200-week trend line — analyst

Bitcoin price will get ‘another test’ of 200-week trend line — analyst

by Mikhailev
June 5, 2023
0

Bitcoin (BTC) fell to multi-day lows on the June 5 Wall Avenue open as motion heated up on exchanges.BTC/USD 1-hour...

‘$31K was not the end’ — 5 things to know in Bitcoin this week

‘$31K was not the end’ — 5 things to know in Bitcoin this week

by Mikhailev
June 5, 2023
0

Bitcoin (BTC) begins the second week of June in acquainted territory, however a breakout is coming, buyers say.After a peaceful...

Bitcoin Ordinals rolls out upgrade to rectify ‘Cursed Inscriptions’ issue

Bitcoin Ordinals rolls out upgrade to rectify ‘Cursed Inscriptions’ issue

by Mikhailev
June 5, 2023
0

Builders behind the Bitcoin Ordinals protocol have rolled out a brand new improve that goals to remedy over 71,000 invalid...

Bitcoin price chart flashes a bullish sign that could lead to breakouts in ADA, QNT, RNDR and RPL

Bitcoin price chart flashes a bullish sign that could lead to breakouts in ADA, QNT, RNDR and RPL

by Mikhailev
June 4, 2023
0

The US equities markets welcomed the debt ceiling deal and the Could nonfarm payrolls knowledge on June 2 with robust...

How to access Bitcoin network data without advanced IT skills

How to access Bitcoin network data without advanced IT skills

by Mikhailev
June 3, 2023
0

The Bitcoin community is dwelling to a wide range of knowledge that may supply buyers, lecturers and followers helpful insights....

Load More
  • Trending
  • Comments
  • Latest
Square Enix NFT And Blockchain Plans Laid Out In Annual Report

Square Enix NFT And Blockchain Plans Laid Out In Annual Report

May 13, 2022
Is Austin, Texas About to Lead the US in Blockchain, Crypto and Sustainability? With Mission 6, it Appears So

Is Austin, Texas About to Lead the US in Blockchain, Crypto and Sustainability? With Mission 6, it Appears So

May 13, 2022
Jack Dorsey Names Reason for Next Bitcoin Price Surge

438.4 Million Dogecoin Moved to Robinhood for Fee That Easily Beats Any Bank

May 22, 2022
Top LTC Online Gambling Sites for 2022

Top LTC Online Gambling Sites for 2022

May 15, 2022
Japan’s Nomura dives into cryptocurrency derivatives trading (NYSE:NMR)

Japan’s Nomura dives into cryptocurrency derivatives trading (NYSE:NMR)

0
Cryptocurrency Avalanche’s Price Increased More Than 8% Within 24 hours

Cryptocurrency Avalanche’s Price Increased More Than 8% Within 24 hours

0
Bitcoin & Cryptocurrency Take Massive Nose Dive

Bitcoin & Cryptocurrency Take Massive Nose Dive

0
Todd Snider talks life on the road making music ahead of Southern California dates – Daily News

Todd Snider talks life on the road making music ahead of Southern California dates – Daily News

0
Maybe Bitcoin didn’t bottom? SEC lawsuit against Binance shakes BTC bulls’ confidence

Maybe Bitcoin didn’t bottom? SEC lawsuit against Binance shakes BTC bulls’ confidence

June 5, 2023
Bitcoin price will get ‘another test’ of 200-week trend line — analyst

Bitcoin price will get ‘another test’ of 200-week trend line — analyst

June 5, 2023
The blockchain and AI bond, explained

The blockchain and AI bond, explained

June 5, 2023
Ethereum gas fees cool down after May memecoin frenzy

Ethereum gas fees cool down after May memecoin frenzy

June 5, 2023

Recent News

Maybe Bitcoin didn’t bottom? SEC lawsuit against Binance shakes BTC bulls’ confidence

Maybe Bitcoin didn’t bottom? SEC lawsuit against Binance shakes BTC bulls’ confidence

June 5, 2023
Bitcoin price will get ‘another test’ of 200-week trend line — analyst

Bitcoin price will get ‘another test’ of 200-week trend line — analyst

June 5, 2023
The blockchain and AI bond, explained

The blockchain and AI bond, explained

June 5, 2023

Categories

  • Altcoins
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • Dogecoin
  • Ethereum
  • Litecoin
  • Market & Analysis
  • Solana

Follow Us

Tags

Avalanche bitcoin bitcoin price bitcoin price in india bitcoin price today Blockchain Blockchain Wire business Business news Cardano Crypto Crypto Coins CryptoCurrencies Cryptocurrency cryptocurrency news cryptocurrency price today crypto market crypto news crypto price in india crypto price today Culture DeFi Dogecoin Dogecoin price ETH Ethereum fintech FTX investing Litecoin Markets News NFT Opinion Ripple SEO Shiba shiba inu Shiba Inu Price SOL Solana solana price TECH Technical Analysis Technology
  • Contact Us

© 2022 Top Crypto News - All rights reserved.

No Result
View All Result
  • Home
  • Cryptocurrency
  • Blockchain
  • Market & Analysis
  • Bitcoin
  • Altcoins
  • Dogecoin
  • Ethereum
  • Litecoin
  • Solana

© 2022 Top Crypto News - All rights reserved.