{"id":1056,"date":"2022-08-23T07:19:20","date_gmt":"2022-08-23T07:19:20","guid":{"rendered":"https:\/\/cryptoteambuild.com\/blog\/ta-bitcoin-price-recovery-faces-hurdle-why-100-sma-presents-resistance\/"},"modified":"2022-08-23T07:19:20","modified_gmt":"2022-08-23T07:19:20","slug":"ta-bitcoin-price-recovery-faces-hurdle-why-100-sma-presents-resistance","status":"publish","type":"post","link":"https:\/\/cryptoteambuild.com\/blog\/ta-bitcoin-price-recovery-faces-hurdle-why-100-sma-presents-resistance\/","title":{"rendered":"TA: Bitcoin Price Recovery Faces Hurdle, Why 100 SMA Presents Resistance"},"content":{"rendered":"<div>\n<p><em>Bitcoin found support near $20,750 against the US Dollar. BTC is correcting gains, but it is facing resistance near $21,500 and the 100 hourly SMA.<\/em><\/p>\n<ul>\n<li>Bitcoin found support near the $20,750 after a strong decline.<\/li>\n<li>The price is now trading below the $21,500 level and the 100 hourly simple moving average.<\/li>\n<li>There was a break above a major bearish trend line with resistance near $21,270 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could recover higher if there is a clear move above the $22,000 resistance.<\/li>\n<\/ul>\n<h2> Bitcoin Price Struggles<\/h2>\n<p>Bitcoin price <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-bearish-weekly-close-22k\/\" rel=\"noopener\" target=\"_blank\">gained bearish momentum<\/a> below the $22,000 support zone. BTC declined below the $21,200 and $21,000 support levels before the bulls appeared.<\/p>\n<p>A low was formed near $20,797 and the price started a short-term upside correction. There was a minor upward move above the $21,000 level. Besides, there was a break above a major bearish trend line with resistance near $21,270 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>However, bitcoin price faced a strong resistance near the $21,500 level and the <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-downtrend-22-5k-key\/\" rel=\"noopener\" target=\"_blank\">100 hourly simple moving average<\/a>. It is now struggling to clear the $21,500 resistance zone.<\/p>\n<p>On the upside, an immediate resistance is near the 100 SMA at $21,450. The first major resistance on the upside sits near the $21,650 level. It is near the 23.6% Fib retracement level of the key decline from the $24,415 swing high to $20,797 low.<\/p>\n<p><a href=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/08\/Bitcoin-16.png\"><img decoding=\"async\" alt=\" Bitcoin Price\" height=\"845\" loading=\"lazy\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/08\/Bitcoin-16.png\" width=\"1834\"><\/a><\/p>\n<pre>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" rel=\"noopener\" target=\"_blank\">BTCUSD on TradingView.com<\/a><\/pre>\n<p>The main resistance is forming near the $22,000 zone. Any more gains might send the price towards the 50% Fib retracement level of the key decline from the $24,415 swing high to $20,797 low. A close above the $22,500 and $22,650 resistance levels might push the price into a positive zone.<\/p>\n<h2> More Losses in BTC?<\/h2>\n<p>If bitcoin fails to clear the $21,500 resistance zone and the 100 hourly SMA, it could continue to move down. An immediate support on the downside is near the $21,000 level.<\/p>\n<p>The next major support now sits near the $20,800 level. A downside break and close below the $20,800 level might start another major drop. In the stated case, the price might decline towards the $20,000 level.<\/p>\n<p>Technical indicators: <\/p>\n<p>Hourly MACD &ndash; The MACD is now losing pace in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) &ndash; The RSI for BTC\/USD is now above the 50 level.<\/p>\n<p>Major Support Levels &ndash; $21,000, followed by $20,800.<\/p>\n<p>Major Resistance Levels &ndash; $21,500, $22,000 and $22,650.<\/p>\n<\/div>\n<p><a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-recovery-faces-hurdle-22k\/\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin found support near $20,750 against the US Dollar. BTC is correcting gains, but it is facing resistance near $21,500 and the 100 hourly SMA. Bitcoin found support near the $20,750 after a strong decline. The price is now trading below the $21,500 level and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $21,270 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could recover higher if there is a clear move above the $22,000 resistance. Bitcoin Price Struggles Bitcoin price gained bearish momentum [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1057,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[6],"tags":[18,74],"_links":{"self":[{"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/posts\/1056"}],"collection":[{"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/comments?post=1056"}],"version-history":[{"count":0,"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/posts\/1056\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/media\/1057"}],"wp:attachment":[{"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/media?parent=1056"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/categories?post=1056"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/tags?post=1056"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}