BTC Tapped $21K
After the relatively boring last week, when BTC stood primarily around $19,000, the landscape around the asset started to change late Tuesday. It first jumped from the aforementioned level to $20,000 and, unlike previous recent attempts, broke above it decisively this time.

As a result, it painted a six-week high yesterday at just over that coveted line. Furthermore, bitcoin kept climbing during the rest of the trading day and even briefly touched $21,000. This came amid reports suggesting that the Bank of Canada is about to change its stance on hiking the interest rates.

BTC failed to breach $21,000 and has retraced by a few hundred dollars to just under that level. Nevertheless, its market cap stands still at around $400 billion.

On-chain metrics have flashed two notable signs that traders need to be wary of following the latest price action.

Downside Correction in BTC?
If bitcoin fails to rise above the $21,200 resistance zone, it could start a downside correction. An immediate support on the downside is near the $20,700 zone.


The next major support is near the $20,500 zone. It is near the 50% Fib retracement level of the upward move from the $19,992 swing low to $21,021 high. A downside break and close below $20,500 might clear the path for a test of the $20,000 zone.

Bitcoin price is gaining pace above $20,000 against the US Dollar. BTC is showing positive signs and might rise further towards $22,000 or even $25,000.

Bitcoin is gaining pace above the $20,000 and $20,500 resistance levels.
The price is trading above $20,000 and the 100 hourly simple moving average.
There is a major contracting triangle forming with resistance near $20,820 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could rally again if there is a clear move above the $21,200 resistance.

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Solana (SOL) Price Analysis

Looking at the chart, solana price is clearly trading above $30 and the 55 simple moving average (4-hours). Overall, the price must clear $32.00 and $32.50 to continue higher in the near term.

Technical Indicators
4 hours MACD – The MACD is now gaining momentum in the bullish zone.

4 hours RSI (Relative Strength Index) – The RSI is now above the 50 level.

Key Support Levels – $32.50 and $34.00.

Key Resistance Levels – $30.50, $30.00 and $28.80.