TA: Bitcoin Price Eyes Upside Break, Why BTC Could Surge to $23K

Jun 24, 2022 04:00 am Cryptocurrency 164

Bitcoin is showing positive signs above the $20,500 zone against the US Dollar. BTC could rally if there is a clear move above the $21,250 resistance zone.

Bitcoin remains well supported above the $20,000 and $20,500 levels.

The price is now above the $20,500 level and the 100 hourly simple moving average.

There was a break above a major bearish trend line with resistance near $20,450 on the hourly chart of the BTC/USD pair (data feed from Kraken).

The pair could gain bullish momentum if it clears the $21,250 and $21,650 resistance levels.

Bitcoin Price Could Gain Pace

Bitcoin price started a downside correction below the $20,500 level. There was also a move below the $20,000 level, but the price was stable near the $19,750 zone.

A low was formed near $19,750 and the price started fresh. BTC was able to clear the $20,000 and $20,500 resistance levels. Besides, there was a break above a major bearish trend line with resistance near $20,450 on the hourly chart of the BTC/USD pair.

The pair climbed ..

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