Bitcoin has surged over the $21,000 resistance level against the US dollar. BTC is picking up momentum and sustain above the $21,400 barrier level.
Yesterday, the price of<a href="https://www.coingabbar.com/en/crypto-currency/bitcoin-btc-prices-usd" rel="noopener noreferrer nofollow"> Bitcoin (BTC)</a> increased by more than 12%, breaking past the $21,000 mark. The price of Bitcoin (BTC) increased from $19,310 to $21,677. Now, MicroStrategy’s SEC filing to sell $500 million in MSTR stocks in order to buy additional Bitcoin has fueled market confidence.
At the time of writing, the price of Bitcoin (BTC) is strong at $21,527, up nearly 7% in a day. Bitcoin recovered from its historical low of $18,702 to recover 15% in a week.
According to Price Analysis, Bitcoin (BTC) is still trading below the crucial 200-WMA level of $23,000. However, MicroStrategy’s announcement is likely to push the price over the 200-WMA.
Today, the rising trend continued, and the price has already hit a high of $21,677. Bitcoin is currently facing resistance around $22,000, which is formed by the previous rising parallel channel support line.
According to Price Analysis, The market capitalization of this BTC is estimated to be $451,672,400,229. The 24-hour trading volume for the same coin is around $45,822,838,162. BTC market capitalization has risen by 4.32%. However, trade volume increased by 15.23% during intraday trading. The market capitalization to volume ratio is 0.1113.
The first major resistance is located at the $22,000 level. Any further rises might push the price up to the $22,600 level. Above $22,600 may touch $23,300 level soon.
If BTC fails to break $22,000 major resistance, the price may continue to fall below $21,100. The next major support level is at $20,600 If it fails to hold this level then sharp panic selling can be towards $20,000 level.
KEY LEVELS :
RESISTANCE LEVEL : $22000-$22600
SUPPORT LEVEL : $21200-$20800
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BITCOIN PRICE ANALYSIS : Will BTC reverse from $22000 levels when a rising parallel channel support line is seen?

Coingabbar

Other articles published on Sep 10, 2022

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