Bitcoin Price Bulls Reclaim $20,000

In this episode of NewsBTC’s daily technical analysis videos, we take a look at the Bitcoin price rally to see if it can turn into something much bigger. Do bulls have the nerve to stomp on bears?

Check out the video:

VIDEO: Bitcoin price (BTCUSD), October 25, 2022, Crypto Winter

Finally there is some movement in Bitcoin. It has so far been to the upside. Bitcoin is currently trading at just $20,000

BTCUSD Daily Begins Potential Bollinger Band Squeeze

This is important because of a range of factors. The first being daily Bollinger Bands. It is now at the lowest levels since before the bullish October 2020 rally. Bitcoin prices must rise above the Bollinger Band on sufficient volume to create a sustained trend. This is known as riding the bands. Volume should not exceed two-thirds of what it was during the sideways phase.

Ichimoku is just above the Bollinger Band. Bitcoin’s daily price action was last rejected by the cloud. However, this time it could prove to be different. BTCUSD has also risen above the Tenkan-sen as well as the Kijun-sen levels, both of which are currently bullish. The daily Parabolic SAR is also at almost identical levels. This tool can be used to establish trailing stop loss levels, which could allow for a quick squeeze after pushing through.


The dynamic indicator resistance has piled up. Source:, BTCUSD| Source: BTCUSD on

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Bitcoin price targets $21K and $25K next

The Bitcoin price action also passed the 50-day moving mean, which makes the 200-day and 100-day moving means the next logical targets. The targets can be found at approximately $21,000 to $25,000, plus or minus a few hundred.

The bullish signal are all occurring as momentum approaches the LMACD’s zero line. It could be a sign of a trend change, if it is passed. According to the same tool, the medium-term trend may also be possible. The momentum has begun to increase and is strengthening after reaching levels that were at the bottom of bear markets.


A Pixel Perfect Line for Crypto To Cross

At the moment, Bitcoin price on the daily timeframe is still struggling with an important resistance level –– perhaps one of the most important levels it has ever faced as resistance: Former all-time high resistance set nearly five years earlier. 

Price action has halted to fight with the resistance at this level and with other dynamic indicators.

Update:This level was broken and Bitcoin is currently trading at above $20,000.


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