TA: Bitcoin Price Close Below $20K Could Spark Larger Degree Increase

Oct 4, 2022 04:00 am Cryptocurrency 139

Bitcoin price is slowly moving higher above $19,500 against the US Dollar. BTC could start a steady increase if there is a close above $19,600 and $20,000.

Bitcoin remained well bid above the $19,200 and $19,000 support levels.

The price is trading above $19,400 and the 100 hourly simple moving average.

There is a key bullish trend line forming with support near $19,450 on the hourly chart of the BTC/USD pair (data feed from Kraken).

The pair could start a steady increase if there is a clear move above the $19,700 level.

Bitcoin Price Eyes Steady Increase

Bitcoin price remained strong above the $19,000 level. BTC traded as low as $18,937 and started a steady increase. There was a move above the $19,150 and $19200 levels.

The price was able to clear the 50% Fib retracement level of the downward move from the $20,177 swing high to $18,937 low. There was a also a move above the $19,500 resistance zone to move into ..

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