Bitcoin gained pace and even spiked above the $22,000 resistance against the US Dollar. BTC is correcting gains, but dips might be limited below $21,500. Bitcoin was able to clear the $21,200 and $21,500 resistance levels. The price is now trading above $21,500 and the 100 hourly simple moving average. There is a key bullish trend lien forming with support near $21,600 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is correcting gains, but dips might be limited below the $21,500 level. Bitcoin Price Starts Fresh Rally Bitcoin price remained well bid above the $20,000 level and started a fresh increase. There was a clear move above the $21,000 and $21,200 resistance levels. The price even surpassed the $21,500 resistance and spiked above the $22,000 resistance. A high was formed near $22,347 and the price recently started a downside correction. There was a move below the $22,000 and $21,850 levels. Bitcoin price traded below the 23.6% Fib retracement level of the recent increase from the $21,180 swing low to $22,347 high. It is now trading above $21,500 and the 100 hourly simple moving average. Besides, there is a key bullish trend lien forming with support near $21,600 on the hourly chart of the BTC/USD pair. Source: BTCUSD on TradingView.com On the upside, an immediate resistance is near the $22,000 level. The next major resistance sits near the $22,350 level. A clear move above the $22,350 resistan...
