TA: Bitcoin Price Reclaims $20K, Why This Could Be The Start of Larger Rally

Oct 5, 2022 04:00 am Cryptocurrency 142
TA: Bitcoin Price Reclaims $20K, Why This Could Be The Start of Larger Rally

Bitcoin price gained pace for a move above $20,000 against the US Dollar. BTC is showing positive signs and might rise further above $20,500.


  • Bitcoin started a steady increase above the $19,200 and $19,500 resistance levels.

  • The price is trading above $20,000 and the 100 hourly simple moving average.

  • There is a connecting bullish trend line forming with support near $20,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).

  • The pair is gaining pace and might rally further above the $20,500 level.


    • Bitcoin Price Gains Pace

    Bitcoin price formed a base above the $19,000 level and started a steady increase. BTC was able to clear the $19,500 and $19,650 resistance levels.


    The bulls were able to pump the price above the $20,000 resistance zone. The price traded as high as $20,475 and the price is now correcting gains. It is ..

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