Bitcoin began a gradual climb above the $21,000 resistance towards the US Greenback. BTC might proceed higher in direction of $22,000 if it stays above the $20,500 help.

• Bitcoin is slowly transferring higher above the $21,000 resistance zone.
• The worth is now trading above the $20,800 level and testing the 100 hourly easy transferring common.
• There was a break above a short-term bearish pattern line with resistance close to $21,000 on the hourly chart of the BTC/USD pair (knowledge feed by Kraken).
• The pair might achieve bullish momentum if it clears the $21,500 and $21,600 ranges.

Bitcoin value is displaying optimistic indicators

Bitcoin value fashioned a base above the $19,200 level and began an honest climb. The worth traded above the $20,500 resistance zone to maneuver right into a optimistic zone.

The worth even gained tempo above $21,000 and settled above the 100 hourly easy transferring common. A high was fashioned at $21,664 earlier than a draw back correction. The worth traded under $21,000 however the bulls have been energetic close to the $20,750 zone and the 100 hourly easy transferring common.

A low was fashioned at $20,748 and the worth is now rising. It broke the 23.6% Fib retracement level of the downmove from the $21,664 high to $20,748 low.

There was additionally a break above a short-term bearish pattern line with resistance close to $21,000 on the hourly chart of the BTC/USD pair. On the upside, bitcoin value may attain resistance close to $21,200. It’s close to the 50% Fib retracement level of the transfer down from the $21,664 high to $20,748 low.

Supply: BTCUSD on TradingView.com

The subsequent key resistance is close to the $21,500 zone. A detailed above the $21,500 resistance zone might set the tempo for an honest transfer higher. Within the talked about case, the worth might maybe rally in direction of the $22,000 level. The subsequent main resistance is close to $22,800.

Dips in BTC supported?

If bitcoin fails to clear the $21,500 resistance zone, it might begin a draw back correction. Speedy help on the draw back is close to $21,000.

The subsequent main help is now close to $20,750 and the 100 hourly SMA. A transparent transfer under the $20,750 help might propel the worth in direction of $20,500.

Technical indicators:

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

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

Key help ranges – $21,000 adopted by $20,750.

Main resistance ranges – $21,200, $21,500 and $22,000.