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class="time_date_block"><ul class="time_date"><li>Aug 02, 2022</li><li>07:08</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: Why BTC may revisit $22,000" alt="Crypto Daily: Why BTC may revisit $22,000" 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%2F08%2Fcrypto_daily_analysis_tue.png&w=750&q=75 1x, /_next/image?url=https%3A%2F%2Fwebinar.choise.com%2Fwp%2F2022%2F08%2Fcrypto_daily_analysis_tue.png&w=1920&q=75 2x" src="/_next/image?url=https%3A%2F%2Fwebinar.choise.com%2Fwp%2F2022%2F08%2Fcrypto_daily_analysis_tue.png&w=1920&q=75"/></div><div class="content_block"><p class="">Bitcoin has been retracing since July 30, but it is trading inside a short-term bullish pattern and has reached short-term support.</p><p class="">The daily chart shows that Bitcoin has broken out from a descending resistance line that had previously been in place since the end of March. Bitcoin broke out on July 18 but has not increased considerably since.</p><p class="">BTC has, however, broken out from the $21,750 horizontal area and validated it as support afterward and the daily RSI has moved above 50.</p><p class="">There is a slight bearish divergence that is now developing in the RSI. This could lead to a short-term retracement towards the $21,750 horizontal area prior to any upwards continuation. The next closest resistance area is found at $29,370. This target is the 0.382 Fib retracement resistance level.</p><p><a href="https://www.newsbtc.com/wp-content/uploads/2022/08/Bitcoin-1.png"><img loading="lazy" class="alignnone size-full wp-image-497272" src="https://www.newsbtc.com/wp-content/uploads/2022/08/Bitcoin-1.png" sizes="(max-width: 1834px) 100vw, 1834px" srcSet="https://www.newsbtc.com/wp-content/uploads/2022/08/Bitcoin-1.png 1834w, https://www.newsbtc.com/wp-content/uploads/2022/08/Bitcoin-1-460x212.png 460w, https://www.newsbtc.com/wp-content/uploads/2022/08/Bitcoin-1-860x396.png 860w, https://www.newsbtc.com/wp-content/uploads/2022/08/Bitcoin-1-768x354.png 768w, https://www.newsbtc.com/wp-content/uploads/2022/08/Bitcoin-1-1536x708.png 1536w, https://www.newsbtc.com/wp-content/uploads/2022/08/Bitcoin-1-750x346.png 750w, https://www.newsbtc.com/wp-content/uploads/2022/08/Bitcoin-1-1140x525.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><h3>Short-term movement</h3><p class="">The six-hour chart shows that BTC could still be following an ascending support line that was created in the middle of June. The line currently intersects near $21,800, aligning with the previously outlined horizontal support area.</p><p class="">There is also Fib support found between $22,250 and $22,700, created by the 0.5-0.618 Fib retracement support levels.</p><p class="">The two-hour chart shows that Bitcoin has been trading inside a descending wedge since reaching its July 30 local highs. The descending wedge is often considered a bullish pattern, meaning that a breakout from it would be likely.</p><h3>Technical indicators</h3><p>Hourly MACD – The MACD is now gaining pace in the bearish zone</p><p>Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level</p><p>Major Support Levels – $22,680, followed by $22,000</p><p>Major Resistance Levels – $23,300, $23,750 and $24,000</p><p> </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: Why BTC may revisit $22,000</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: Why BTC may revisit $22,000"/></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: Why BTC may revisit $22,000 - 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: Why BTC may revisit $22,000 - 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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$22,000","date_created":"2022-08-02T06:15:13.000Z","image":null,"old_image":"https://webinar.choise.com/wp/2022/08/crypto_daily_analysis_tue.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: Why BTC may revisit $22,000","content":"\u003cp class=\"\"\u003eBitcoin has been retracing since July 30, but it is trading inside a short-term bullish pattern and has reached short-term support.\u003c/p\u003e\u003cp class=\"\"\u003eThe daily chart shows that Bitcoin has broken out from a descending resistance line that had previously been in place since the end of March. Bitcoin broke out on July 18 but has not increased considerably since.\u003c/p\u003e\u003cp class=\"\"\u003eBTC has, however, broken out from the $21,750 horizontal area and validated it as support afterward and the daily RSI has moved above 50.\u003c/p\u003e\u003cp class=\"\"\u003eThere is a slight bearish divergence that is now developing in the RSI. This could lead to a short-term retracement towards the $21,750 horizontal area prior to any upwards continuation. The next closest resistance area is found at $29,370. This target is the 0.382 Fib retracement resistance level.\u003c/p\u003e\u003cp\u003e\u003ca href=\"https://www.newsbtc.com/wp-content/uploads/2022/08/Bitcoin-1.png\"\u003e\u003cimg loading=\"lazy\" class=\"alignnone size-full wp-image-497272\" src=\"https://www.newsbtc.com/wp-content/uploads/2022/08/Bitcoin-1.png\" sizes=\"(max-width: 1834px) 100vw, 1834px\" srcset=\"https://www.newsbtc.com/wp-content/uploads/2022/08/Bitcoin-1.png 1834w, https://www.newsbtc.com/wp-content/uploads/2022/08/Bitcoin-1-460x212.png 460w, https://www.newsbtc.com/wp-content/uploads/2022/08/Bitcoin-1-860x396.png 860w, https://www.newsbtc.com/wp-content/uploads/2022/08/Bitcoin-1-768x354.png 768w, https://www.newsbtc.com/wp-content/uploads/2022/08/Bitcoin-1-1536x708.png 1536w, https://www.newsbtc.com/wp-content/uploads/2022/08/Bitcoin-1-750x346.png 750w, https://www.newsbtc.com/wp-content/uploads/2022/08/Bitcoin-1-1140x525.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\u003ch3\u003eShort-term movement\u003c/h3\u003e\u003cp class=\"\"\u003eThe six-hour chart shows that BTC could still be following an ascending support line that was created in the middle of June. The line currently intersects near $21,800, aligning with the previously outlined horizontal support area.\u003c/p\u003e\u003cp class=\"\"\u003eThere is also Fib support found between $22,250 and $22,700, created by the 0.5-0.618 Fib retracement support levels.\u003c/p\u003e\u003cp class=\"\"\u003eThe two-hour chart shows that Bitcoin has been trading inside a descending wedge since reaching its July 30 local highs. The descending wedge is often considered a bullish pattern, meaning that a breakout from it would be likely.\u003c/p\u003e\u003ch3\u003eTechnical indicators\u003c/h3\u003e\u003cp\u003eHourly MACD – The MACD is now gaining pace in the bearish zone\u003c/p\u003e\u003cp\u003eHourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level\u003c/p\u003e\u003cp\u003eMajor Support Levels – $22,680, followed by $22,000\u003c/p\u003e\u003cp\u003eMajor Resistance Levels – $23,300, $23,750 and $24,000\u003c/p\u003e\u003cp\u003e\u0026nbsp;\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":"Bitcoin has been retracing since July 30, but it is trading inside a short-term bullish pattern and has reached short-term support.","seo_title":null,"seo_description":null,"seo_keywords":null}]}},"__N_SSP":true},"page":"/news/[category]/[slug]","query":{"category":"dailyanalysis","slug":"crypto-daily-btc-revisit-22k"},"buildId":"pnPclDEvF5ORCHIipmwih","isFallback":false,"isExperimentalCompile":false,"gssp":true,"locale":"en","locales":["en","es"],"defaultLocale":"en","scriptLoader":[]}</script></body></html>