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class="sc-7f46ca5-0 geAzVS news_content"><div class="heading"><a href="/news/dailyanalysis"><svg width="17" height="16" viewBox="0 0 17 16" fill="none" xmlns="http://www.w3.org/2000/svg"><path fill-rule="evenodd" clip-rule="evenodd" d="M6.65685 15.0709L0.292892 8.70692C-0.0976315 8.31639 -0.0976315 7.68323 0.292892 7.2927L6.65685 0.928741C7.04738 0.538216 7.68054 0.538216 8.07107 0.928741C8.46159 1.31926 8.46159 1.95243 8.07107 2.34295L3.41421 6.99981L16 6.99981C16.5523 6.99981 17 7.44752 17 7.99981C17 8.55209 16.5523 8.99981 16 8.99981L3.41421 8.99981L8.07107 13.6567C8.46159 14.0472 8.46159 14.6804 8.07107 15.0709C7.68054 15.4614 7.04738 15.4614 6.65685 15.0709Z"></path></svg>Back</a><div class="sc-4fdbe080-0 a-DbXX title "><h1>Crypto Daily: Why BTC may revisit $22,000</h1></div></div><div class="time_date_block"><ul class="time_date"><li>Aug 02, 2022</li><li>11:08</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-a1a626b4-0 kElwJK"><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 gbxsVZ"><button aria-label="twitter" 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 aria-label="telegram" 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 aria-label="facebook" 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-337f5f54-0 evDabV"><div class="sc-e7592e74-0 icIbuO center_block " width="1200px"><div class="top_block"><div class="content"><div class="description"><p>The Choise.com website and Choise.com mobile apps are owned by the company UAB Choise Services incorporated Lithuania.</p><p>Crypterium AS is incorporated in Estonia with the company number 14352837, registered office at 5 A. 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all</button></div></div><script id="__NEXT_DATA__" type="application/json">{"props":{"pageProps":{"data":{"id":13911,"status":"published","sort":null,"user_created":"ca36dd59-e84f-4468-80da-d7762c746176","date_created":"2022-08-02T08:15:13.000Z","user_updated":null,"date_updated":null,"title":"Crypto Daily: Why BTC may revisit $22,000","slug":"crypto-daily-btc-revisit-22k","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_image":null,"seo_keywords":null,"old_image":"https://webinar.choise.com/wp/2022/08/crypto_daily_analysis_tue.png","image":null,"category":{"title":"Daily Analysis","slug":"dailyanalysis","id":82}}},"__N_SSP":true},"page":"/news/[category]/[slug]","query":{"category":"dailyanalysis","slug":"crypto-daily-btc-revisit-22k"},"buildId":"SlUJVPRtwI2KV_BeR1oiN","isFallback":false,"gssp":true,"locale":"en","locales":["en"],"defaultLocale":"en","scriptLoader":[]}</script></body></html>