Coin Gabbar Token

Bitcoin is currently consolidating at the $20,000 level when compared to the US dollar. To begin a steady rise, BTC must break through the $20,550 resistance zone.<a href="https://www.coingabbar.com/en/crypto-currency/bitcoin-btc-prices-usd" rel="noopener noreferrer nofollow">Bitcoin’s price</a> has been comfortably sustained above $19,550. BTC formed a base and continued its upward trend above the $20,000 resistance level.According to price analysis, A push over the $20,200 level and the 100 hourly simple moving average happened. The price even fell through the 61.8% Fib retracement level of the decline from the swing high of $20,576 to the low of $19,555. The price, however, stayed below the $20,550 resistance level.Bitcoin is now trading at $20,000 and the 100 hourly simple moving average. On the upside, an immediate resistance level is at $20,350.On the hourly chart of the BTC/USD pair, a key bearish trend line is forming with resistance near $20,330. The trend line is close to the 76.4% Fib retracement level of the decline from the swing high of $20,576 to the low of $19,555.The next major resistance is located at the $20,550 and $20,575 levels. A clear break above the $20,575 resistance level might push the price above $21,000. Any further increases might trigger a consistent move towards the $22,000 resistance zone.If bitcoin fails to break through the $20,550 resistance level, it may fall further. On the downside, there is immediate support at the $20,000 level.The next key support is located at $19,800. The major support is located approximately $19,550. A breach below the $19,550 support level might trigger a sharp move below $19,000. Any more losses may require a move to $18,500 in the near term.KEY LEVELS :RESISTANCE LEVEL : $20500-$20900SUPPORT LEVEL : $19700-$19200Get more crypto related updates on :-<a href="https://www.coingabbar.com/en/crypto-news-english" rel="noopener noreferrer nofollow"> https://www.coingabbar.com/en/crypto-news-english</a>

Cryptocurrency price update: BITCOIN PRICE ANALYSIS : BTC is consolidating near $20,000, what next?

Coingabbar

Other articles published on Sep 1, 2022

Top NFT News: Ticket Marketplace Giant Ticketmaster Chooses Flow Blockchain for NFT Push

Sports 2K75: A Web3-based Sport-Fi Metaverse (By BSC News)

Cryptocurrency price update: XRP PRICE ANALYSIS : Will xrp hold $0.3200 as triple bottom formed

Hey warriors! We burned some tokens again! But it's for the best!

Cryptocurrency price update: POLKADOT PRICE ANALYSIS : Will the bears outnumber the bulls from th...

Will the crypto suffer more as inflation rate in the eurozone reaches ATH?

Join our free newsletter for daily crypto updates!