BTC Price Recovers as It Reclaims the $20.2 Support

Bitcoin Surges Ahead as It Reclaims the $20.2 Support – September 26, 2022

Today, the BTC price has broken above the 21-day line SMA as it reclaims the $20.2 support. Incidentally, buyers have also broken above the $20,000 high. The largest cryptocurrency will rally above the $22,000 high if the current bullish momentum is sustained.

Bitcoin Price Statistics Data:•Bitcoin price now – $20,166.33•Bitcoin market cap – $386,499,278,634•Bitcoin circulating supply – 19,161,725.00 BTC•Bitcoin total supply – 19,161,725.00 BTC•Bitcoin Coinmarketcap ranking – # 1

Resistance Levels: $50,000, $55, 000, $60,000 Support Levels: $25,000, $20,000, $15,000

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Bitcoin’s (BTC) price is in a downtrend but it is making an upward correction to the previous highs. On the upside, buyers have broken above the 21-day line SMA. There is a tendency for Bitcoin to rise to the 50-day line SMA. The largest cryptocurrency will resume upside momentum if price breaks above the 50-day line SMA. Buyers will attempt to push Bitcoin to revisit the $25,205 overhead resistance. Conversely, if buyers fail to break the 50-day line SMA, Bitcoin will be compelled to a range bound move between $18,675 and $22,000 price levels. In the meantime, the BTC price is above the 21-day line SMA but below the 50-day line SMA.

Bitcoin Was Almost Named Netcoin By Satoshi Nakamoto in 2008

AnonymousSpeech is a service in Japan that allowed users to buy domain names anonymously. Domain purchases under AnonymousSpeech are similar as revealed in the creation of Netcoin.org on August 17, 2008, while the creation of Bitcoin.org. was on August 18. After http://bitcoin.org. domain was first registered, someone purchased http://netcoin.org using the same registrar. It appeared Satoshi was contemplating between the two names and later dropped http://netcoin.org. The historical data of domain name purchases indicated that Satoshi Nakamoto, the creator of Bitcoin (BTC), had Netcoin.org. that did not make it to the white paper.

Meanwhile, Bitcoin has regained bullish momentum as it reclaims the $20.2 support. The bottom line is that Bitcoin will revisit the previous highs if the current support holds. Meanwhile, BTC price is at level 51 of the Relative Strength Index for period 14. It indicates that there is a balance between supply and demand.                                  

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