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in at least a month</h1></div></div><div class="time_date_block"><ul class="time_date"><li>Jul 20, 2022</li><li>06:07</li><li>2 min reading</li></ul><div class="author_block"><div class="author_image"><span style="box-sizing:border-box;display:inline-block;overflow:hidden;width:initial;height:initial;background:none;opacity:1;border:0;margin:0;padding:0;position:relative;max-width:100%"><span style="box-sizing:border-box;display:block;width:initial;height:initial;background:none;opacity:1;border:0;margin:0;padding:0;max-width:100%"><img style="display:block;max-width:100%;width:initial;height:initial;background:none;opacity:1;border:0;margin:0;padding:0" alt="" aria-hidden="true" src="data:image/svg+xml,%3csvg%20xmlns=%27http://www.w3.org/2000/svg%27%20version=%271.1%27%20width=%2720%27%20height=%2720%27/%3e"/></span><img alt="Choise.com team" srcSet="/_next/image?url=%2Fpic%2Fauthors%2Fchoise-team.png&w=32&q=75 1x, /_next/image?url=%2Fpic%2Fauthors%2Fchoise-team.png&w=48&q=75 2x" src="/_next/image?url=%2Fpic%2Fauthors%2Fchoise-team.png&w=48&q=75" decoding="async" data-nimg="intrinsic" style="position:absolute;top:0;left:0;bottom:0;right:0;box-sizing:border-box;padding:0;border:none;margin:auto;display:block;width:0;height:0;min-width:100%;max-width:100%;min-height:100%;max-height:100%"/></span></div><div class="author_name"><span class="dynamic_author"></span>Choise.com team</div></div></div><div class="content"><div class="main_image"><img title="Crypto Daily: Bitcoin flashed its first significant relief rally in at least a month" alt="Crypto Daily: Bitcoin flashed its first significant relief rally in at least a month" fetchpriority="high" width="742" height="0" decoding="async" data-nimg="1" class="directus_image " style="color:transparent" srcSet="/_next/image?url=https%3A%2F%2Fwebinar.choise.com%2Fwp%2F2022%2F07%2Fcrypto_daily_analysis_wed.png&w=750&q=75 1x, /_next/image?url=https%3A%2F%2Fwebinar.choise.com%2Fwp%2F2022%2F07%2Fcrypto_daily_analysis_wed.png&w=1920&q=75 2x" src="/_next/image?url=https%3A%2F%2Fwebinar.choise.com%2Fwp%2F2022%2F07%2Fcrypto_daily_analysis_wed.png&w=1920&q=75"/></div><div class="content_block"><p>Given that the price of Bitcoin has been lingering above the $17,000–$20,000 range over the past few weeks, Bitcoin’s sharp downturn is likely to come to an end. The price is currently retesting the $23,000 resistance level after being rejected three times from the $20,000 support area.</p><h3>Bitcoin Advocates Rejoice</h3><p>The market flashed its first significant relief rally in at least a month, and crypto enthusiasts rejoiced at the sight of green on July 19 as the months of “down only” price action finally came to a stop.</p><p>According to TradingView data, Bitcoin’s breakthrough over resistance at $23,000 — its first appreciable move above the 200-week moving average — is largely responsible for the renewed optimism.</p><p>The price even broke the $23,500 level and settled above the 100 hourly simple moving average. A high was formed near $23,782 and the price is now consolidating gains. There was a minor downside correction below the $23,500 level.</p><p>Bitcoin traded below the 23.6% Fib retracement level of theupward movefrom the $21,403 swing low to $23,782 high. However, the bulls were active near the $23,000 support zone.</p><p>There is also a major bullish trend line forming with support near $22,750 on the hourly chart of the BTC/USD pair. On the upside, bitcoin price could face resistance near the $23,500 level. The next key resistance is near the $23,750 zone.</p><p><a href="https://www.newsbtc.com/wp-content/uploads/2022/07/Bitcoin-15.png"><img loading="lazy" class="alignnone size-full wp-image-496213" src="https://www.newsbtc.com/wp-content/uploads/2022/07/Bitcoin-15.png" sizes="(max-width: 1834px) 100vw, 1834px" srcSet="https://www.newsbtc.com/wp-content/uploads/2022/07/Bitcoin-15.png 1834w, https://www.newsbtc.com/wp-content/uploads/2022/07/Bitcoin-15-460x212.png 460w, https://www.newsbtc.com/wp-content/uploads/2022/07/Bitcoin-15-860x396.png 860w, https://www.newsbtc.com/wp-content/uploads/2022/07/Bitcoin-15-768x354.png 768w, https://www.newsbtc.com/wp-content/uploads/2022/07/Bitcoin-15-1536x708.png 1536w, https://www.newsbtc.com/wp-content/uploads/2022/07/Bitcoin-15-750x346.png 750w, https://www.newsbtc.com/wp-content/uploads/2022/07/Bitcoin-15-1140x525.png 1140w" alt="Bitcoin Price" width="1834" height="845" data-pin-no-hover="true"/></a></p><pre>Source: <a href="https://www.tradingview.com/symbols/BTCUSD/" target="_blank" rel="noopener">BTCUSD on TradingView.com</a></pre><p>A close above the $23,750 resistance zone could set the pace for more upsides. In the stated case, the price may perhaps rise towards the $24,000 level. The next major resistance sits near the $24,500 level.</p><h3>Technical indicators</h3><p>Hourly MACD – The MACD is now gaining pace in the bullish zone.</p><p>Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.</p><p>Major Support Levels – $22,750, followed by $22,500.</p><p>Major Resistance Levels – $23,500, $23,750 and $24,000.</p><p> </p><p><a href="https://choise.com/news/dailyanalysis/crypto-daily-eth-bulls-push-rally">Ethereum also continues its rally</a>.</p><p>More real time crypto information — in our<b>Telegram Channel</b><a href="https://t.me/Choise_com_Chat">https://t.me/Choise_com_Chat</a></p></div></div><ul class="sc-a1b0f443-0 fTNNTN news_breadcrumbs"><li><a href="/news">News</a></li><li><a href="/news/dailyanalysis">Daily Analysis</a></li><li><span>Crypto Daily: Bitcoin flashed its first significant relief rally in at least a month</span></li></ul><div class="sc-ebb48054-0 hCkBCM"><button class="react-share__ShareButton" style="background-color:transparent;border:none;padding:0;font:inherit;color:inherit;cursor:pointer"><img src="/pic/share/twitter.svg" alt="Crypto Daily: Bitcoin flashed its first significant relief rally in at least a month"/></button><button class="react-share__ShareButton" style="background-color:transparent;border:none;padding:0;font:inherit;color:inherit;cursor:pointer"><img src="/pic/share/telegram.svg" alt="Crypto Daily: Bitcoin flashed its first significant relief rally in at least a month - Telegram"/></button><button class="react-share__ShareButton" style="background-color:transparent;border:none;padding:0;font:inherit;color:inherit;cursor:pointer"><img src="/pic/share/facebook.svg" alt="Crypto Daily: Bitcoin flashed its first significant relief rally in at least a month - Facebook"/></button></div></section></div></section></main><footer id="footer" class="sc-3dbed908-0 fGcfsC"><div style="max-width:1200px" class="sc-7bf978d5-0 jWSTwu center_block "><div class="top_block"><div class="content"><div class="description"><div class="description_information"><p>The website and mobile apps are owned by the company Choise Services UAB. 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month","date_created":"2022-07-20T05:24:50.000Z","image":null,"old_image":"https://webinar.choise.com/wp/2022/07/crypto_daily_analysis_wed.png","seo_image":null,"category":{"id":"82","title":"Daily Analysis","slug":"dailyanalysis","translations":[{"title":"Daily Analysis","seo_title":null,"seo_description":null,"seo_keywords":null}]},"translations":[{"title":"Crypto Daily: Bitcoin flashed its first significant relief rally in at least a month","content":"\u003cp\u003eGiven that the price of Bitcoin has been lingering above the $17,000–$20,000 range over the past few weeks, Bitcoin’s sharp downturn is likely to come to an end. The price is currently retesting the $23,000 resistance level after being rejected three times from the $20,000 support area.\u003c/p\u003e\u003ch3\u003eBitcoin Advocates Rejoice\u003c/h3\u003e\u003cp\u003eThe market flashed its first significant relief rally in at least a month, and crypto enthusiasts rejoiced at the sight of green on July 19 as the months of “down only” price action finally came to a stop.\u003c/p\u003e\u003cp\u003eAccording to TradingView data, Bitcoin’s breakthrough over resistance at $23,000 — its first appreciable move above the 200-week moving average — is largely responsible for the renewed optimism.\u003c/p\u003e\u003cp\u003eThe price even broke the $23,500 level and settled above the 100 hourly simple moving average. A high was formed near $23,782 and the price is now consolidating gains. There was a minor downside correction below the $23,500 level.\u003c/p\u003e\u003cp\u003eBitcoin traded below the 23.6% Fib retracement level of theupward movefrom the $21,403 swing low to $23,782 high. However, the bulls were active near the $23,000 support zone.\u003c/p\u003e\u003cp\u003eThere is also a major bullish trend line forming with support near $22,750 on the hourly chart of the BTC/USD pair. On the upside, bitcoin price could face resistance near the $23,500 level. The next key resistance is near the $23,750 zone.\u003c/p\u003e\u003cp\u003e\u003ca href=\"https://www.newsbtc.com/wp-content/uploads/2022/07/Bitcoin-15.png\"\u003e\u003cimg loading=\"lazy\" class=\"alignnone size-full wp-image-496213\" src=\"https://www.newsbtc.com/wp-content/uploads/2022/07/Bitcoin-15.png\" sizes=\"(max-width: 1834px) 100vw, 1834px\" srcset=\"https://www.newsbtc.com/wp-content/uploads/2022/07/Bitcoin-15.png 1834w, https://www.newsbtc.com/wp-content/uploads/2022/07/Bitcoin-15-460x212.png 460w, https://www.newsbtc.com/wp-content/uploads/2022/07/Bitcoin-15-860x396.png 860w, https://www.newsbtc.com/wp-content/uploads/2022/07/Bitcoin-15-768x354.png 768w, https://www.newsbtc.com/wp-content/uploads/2022/07/Bitcoin-15-1536x708.png 1536w, https://www.newsbtc.com/wp-content/uploads/2022/07/Bitcoin-15-750x346.png 750w, https://www.newsbtc.com/wp-content/uploads/2022/07/Bitcoin-15-1140x525.png 1140w\" alt=\"Bitcoin Price\" width=\"1834\" height=\"845\" data-pin-no-hover=\"true\" /\u003e\u003c/a\u003e\u003c/p\u003e\u003cpre\u003eSource: \u003ca href=\"https://www.tradingview.com/symbols/BTCUSD/\" target=\"_blank\" rel=\"noopener\"\u003eBTCUSD on TradingView.com\u003c/a\u003e\u003c/pre\u003e\u003cp\u003eA close above the $23,750 resistance zone could set the pace for more upsides. In the stated case, the price may perhaps rise towards the $24,000 level. The next major resistance sits near the $24,500 level.\u003c/p\u003e\u003ch3\u003eTechnical indicators\u003c/h3\u003e\u003cp\u003eHourly MACD – The MACD is now gaining pace in the bullish zone.\u003c/p\u003e\u003cp\u003eHourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.\u003c/p\u003e\u003cp\u003eMajor Support Levels – $22,750, followed by $22,500.\u003c/p\u003e\u003cp\u003eMajor Resistance Levels – $23,500, $23,750 and $24,000.\u003c/p\u003e\u003cp\u003e\u0026nbsp;\u003c/p\u003e\u003cp\u003e\u003ca href=\"https://choise.com/news/dailyanalysis/crypto-daily-eth-bulls-push-rally\"\u003eEthereum also continues its rally\u003c/a\u003e.\u003c/p\u003e\u003cp\u003eMore real time crypto information — in our\u003cb\u003eTelegram Channel\u003c/b\u003e\u003ca href=\"https://t.me/Choise_com_Chat\"\u003ehttps://t.me/Choise_com_Chat\u003c/a\u003e\u003c/p\u003e","short_content":"The market flashed its first significant relief rally in at least a month, and crypto enthusiasts rejoiced at the sight of green on July 19 as the months of “down only” price action finally came to a stop.","seo_title":null,"seo_description":null,"seo_keywords":null}]}},"__N_SSP":true},"page":"/news/[category]/[slug]","query":{"category":"dailyanalysis","slug":"crypto-daily-bitcoin-rally"},"buildId":"pnPclDEvF5ORCHIipmwih","isFallback":false,"isExperimentalCompile":false,"gssp":true,"locale":"en","locales":["en","es"],"defaultLocale":"en","scriptLoader":[]}</script></body></html>