1. Home
  2. >
  3. Price Analysis
  4. >
  5. Bitcoin Price Analysis; September...
Bitcoin Price

Bitcoin Price Analysis; September 13, 2022

Join us on Social, Beyond the Website

Bitcoin price is hovering above $22,000 level in the green zone. In case BTC surpassed $22,500, it could potentially form a new rally. Here is a summary of Bitcoin price in the past 24 hours:

Exchange Bitcoin to PayPal on HiExchange

  • Bitcoin has stabilized above $21,500 and $22,000.
  • Currently, the price is above $22,000 and the 1-hour candles are above the SMA100.
  • On the 1-hour chart, we see a new uptrend forming with support level at $21,800.
  • At the moment, BTC is having a slight correction and could likely form a new rally at above $22,500.

Bitcoin Price Action Analysis

BTC could finally surpass $21,500 and $22,000 levels with the support coming from buyers. With that, the price stabilized above $22,000 and the SMA100. Subsequently, Bitcoin price reached a high of $22,473 and went for a correction. Consequently, BTC dipped below $22,200 and penetrated below the 23.6% Fibonacci retracement level from the latest growth from $21,180 to $22,473. Currently, the price is above $22,000 and the 1-hour candles are above the SMA100. On the 1-hour chart, we see a new uptrend forming with support at $21,800.

The first resistance for BTC is at $22,450 followed closely by $22,500. Breaking through $22,500 will likely cause further growth. In which case, the $23,200 will be the next resistance level and would pave the way to reach $24,000.

On the other hand, if Bitcoin price fails to surpass $22,500, there could be further correction ahead. For this scenario, the $22,000 will be the first support level followed by $21,800. This level is near the 50% Fibonacci retracement level from the latest rise. Dipping below $21,500 can push BTC further down to $21,000.

The Technical Indicators

MACD indicator: at the time of writing this article the 1-hour MACD indicator for BTC is on an upward momentum.

RSI: the 1-hour relative strength index is currently above 50.

Resistance levels: Right now, the $22,450, $22,500 and $23,200 are crucial resistance levels for BTC.

Support levels: The $21,800 is currently the key support level for the price.

HiExchange

HiExchange is a decentralized online platform to exchange your cryptocurrencies and e-currencies. We utilize an automated system to determine the best exchange rates at any moment. Furthermore, HiExchange does not require KYC or a sign-up process. Also, the platform offers 24/7 customer support.

To learn how to exchange your cryptocurrencies to PayPal you can read our instructional article.

For more instructional content, you can always visit HiExchange Blog

Share Article:

Leave a Reply

Your email address will not be published. Required fields are marked *