Bitcoin (BTC) Price Recent Breakdown Could Accelerate Decline

2019-8-21 09:00

Bitcoin price failed to surpass the $11,000 resistance and recently declined against the US Dollar. The price is currently trading below the key $10,600 and $10,500 support levels. This week’s followed crucial bullish trend line was breached with support near $10,600 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is currently at a risk of more downsides below the $10,250 support area.

Bitcoin price is currently facing an increase in selling below $10,500 against the US Dollar. Therefore, BTC could accelerate its decline if there is a break below $10,000.

Bitcoin Price Analysis

Yesterday, BTC climbed above the $10,800 resistance area against the US Dollar. However, the price struggled to gain momentum above the $10,950 and $11,000 levels. A swing high was formed near $10,960 and recently the price started a downside correction. Similarly, there were bearish moves in Ethereum and ripple below $200 and $0.2700 respectively in the past few sessions.

Recently, bitcoin price declined below the main $10,600 and $10,500 support levels. Moreover, this week’s followed crucial bullish trend line was breached with support near $10,600 on the hourly chart of the BTC/USD pair. The pair is now trading below the 23.6% Fib retracement level of the upward move from the $9,488 low to $10,960 high.

Furthermore, there was a close below the $10,400 level and 100 hourly simple moving average. An immediate support is near the $10,200 level. It coincides with the 50% Fib retracement level of the upward move from the $9,488 low to $10,960 high. If there are more downsides, the price could decline further towards the $10,000 support. The stated $10,000 support holds a lot of significance in the near term.

If the price fails to stay above the $10,000 support, it could revisit the $9,488 swing low. Additionally, the price may even tumble below the $9,488 low and trade to a new monthly low. Conversely, if there is an upside correction, the price could test the $10,400 and $10,500 resistance levels. Additionally, the main resistance is near the $10,600 level and the 100 hourly simple moving average.

Looking at the chart, bitcoin price is facing a solid rise in selling pressure below $10,500. Therefore, there is a risk of more downsides below the $10,200 support. More importantly, a successful break below the $10,000 support might start a strong downward move. The next stop for the bears could be $9,500 and $9,200 in the coming sessions.

Technical indicators:

Hourly MACD – The MACD is gaining momentum in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently declining sharply below the 40 level.

Major Support Levels – $10,200 followed by $10,000.

Major Resistance Levels – $10,400, $10,500 and $10,600.

The post Bitcoin (BTC) Price Recent Breakdown Could Accelerate Decline appeared first on NewsBTC.

origin »

Lendroid Support Token (LST) на Currencies.ru

$ 0.00049 (+0.76%)
Объем 24H $0
Изменеия 24h: 5.17 %, 7d: -58.34 %
Cегодня L: $0.00049 - H: $0.00049
Капитализация $0 Rank 3554
Цена в час новости $ 0.000429 (14.22%)

price bitcoin btc support could accelerate recent

price bitcoin → Результатов: 126


Bitcoin Price Holds Above $96,000 — Analyst Explains This Level’s Significance

The Bitcoin price appears to have settled within the $92,000 – $102,000 consolidation range, sparking discussions about the coin’s future trajectory. While it remains unclear whether the premier cryptocurrency has enough momentum to forge new all-time highs soon, it would take significant bearish pressure to pull down the BTC price.

2025-2-9 16:00


Bitcoin Price Struggles With Liquidity Blocks From $86,000 To $104,000, Analyst Reveals The Logical Thing To Do

The Bitcoin price has spent the majority of the past seven days consolidating around the $94,000 mark with signs of a break to either side. According to a crypto analyst, Bitcoin’s recent price movements have led to the creation of liquidity blocks observed between the $86,000 to $104,000 range, which raises an equal likelihood of a bounce towards $104,000 or a downside break to $86,000 from the current price.

2025-1-13 14:00


Bitcoin price analysis: economic headwinds push price lower

Bitcoin tested the $92,000 level yesterday after falling from a weekly high of $102,000 as sell pressures mounted Macroeconomic factors cause doubts about the market strength as sticky inflation becomes a concern Spot crypto ETFs logged large outflows on Wednesday following the release of the Fed meeting notes Bitcoin’s price has fallen from a high […] The post Bitcoin price analysis: economic headwinds push price lower appeared first on CoinJournal.

2025-1-11 17:48


Фото:

Bitcoin Price To See 70%+ Powerful Bull Wave To Push It Over $100,000, How High Can It Go?

The Bitcoin price is slowly breaching the $70,000 mark, showcasing steady upward momentum despite downward pressure from the bearish performance of the US equities market. Taking note of Bitcoin’s recent price movements, a crypto analyst has suggested that the pioneer cryptocurrency could be gearing up for a strong bull wave that could drive its price by over 70%, pushing it past the $100,000 milestone.

2024-10-26 04:00