TA: Bitcoin Price Keeps Struggling, What Could Trigger Another Downtrend

2022-10-3 06:08

Bitcoin price is struggling to climb above the $20,000 resistance against the US Dollar. BTC could decline heavily if there is a close below the $18,500 support.

Bitcoin remained in a range and stayed above the $19,000 support zone. The price is trading below $19,400 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $19,350 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh decline if there is a clear move below the $18,500 support. Bitcoin Price Stuck In a Range

Bitcoin price attempted a fresh increase above the $19,000 resistance zone. BTC climbed above the $19,250 level and the 100 hourly simple moving average.

The price even gained pace above the $19,500 resistance and spiked above $20,000. However, the bears were active above the $20,000 resistance zone. A high was formed near $20,177 and the price started a downside correction.

There was a move below the $19,500 level. Besides, there was a break below a key bullish trend line with support near $19,350 on the hourly chart of the BTC/USD pair. Bitcoin price is now trading below $19,400 and the 100 hourly simple moving average.

A low is formed near $18,937 and the price is consolidating losses. It is trading near the 23.6% Fib retracement level of the recent decline from the $20,177 swing high to $18,937 low.

On the upside, an immediate resistance is near the $19,400 level and the 100 hourly SMA. The next major resistance sits near the $19,560 zone. It is close to the 50% Fib retracement level of the recent decline from the $20,177 swing high to $18,937 low.

Source: BTCUSD on TradingView.com

A clear move above the $19,560 resistance might start a fresh increase. In the stated case, the price could even surpass the $20,000 resistance zone. The next major resistance is near the $20,500 zone.

Another Drop in BTC?

If bitcoin fails to rise above the $19,560 resistance zone, it could start a fresh decline. An immediate support on the downside is near the $19,000 zone.

The next major support is near the $18,580 zone. The main support is near $18,500, below which there could be a sharp drop to $18,000. Any more losses might call for a drop towards the $17,500 support.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $19,000, followed by $18,580.

Major Resistance Levels – $19,560, $20,000 and $20,500.

origin »

Bitcoin (BTC) на Currencies.ru

$ 98235.22 (-1.09%)
Объем 24H $45.132b
Изменеия 24h: -3.58 %, 7d: -6.37 %
Cегодня L: $98135.13 - H: $101508.43
Капитализация $1946.897b Rank 1
Цена в час новости $ 19172.47 (412.38%)

bitcoin support could struggling price above 500

Источник: newsbtc.com

bitcoin support → Результатов: 126


Фото:

Support Turns Resistance: Bitcoin Retests $64,515 After Break – Will It Hold?

Bitcoin’s price dynamics have taken a significant turn as the $64,515 support level, once a crucial foundation, has now transformed into a formidable resistance after being breached. This pivotal change underscores a shift in market sentiment, with traders now watching closely to see if Bitcoin can reclaim this level or face further downward pressure.  The […]

2024-6-23 23:00


Фото:

Bitcoin Slips Under $64,000: Here’s Where The Next Support Is

Bitcoin has continued its recent bearish trajectory during the past day as the asset’s price has now slipped under $64,000. Here’s what the next support looks like for BTC. Bitcoin Has Strong On-Chain Support Between $61,900 & $63,800 According to data from the market intelligence platform IntoTheBlock, BTC is floating just above a critical on-chain demand zone.

2024-6-23 02:00


Bitcoin Under Pressure Near $40K, Here Are 2 Reasons Why That Could Change Soon

Bitcoin remains rangebound in the high $30,000 to low $40,000 areas. The first crypto by market cap has seen its volatility reduce as several factors contribute to the slowdown across the sector. Related Reading | TA: Bitcoin Trims Gains, Support Turned Resistance At $41K At the time of writing, Bitcoin (BTC) trades at $40,500 with a 6% loss in the last 24-hours and a 1% profit over the past week.

2022-4-22 21:00


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Price Faces Tough Resistance: A Breakout In The Cards?

Bitcoin price started a fresh upward move above $100,000. BTC is facing resistance at $103,000 and might aim for an upside break. Bitcoin started a decent upward move above the $100,000 zone. The price is trading below $103,200 and the 100 hourly Simple moving average.

Bitcoin Price Signals Strength: Bulls Prepare for the Next Leg Up

Bitcoin price is gaining pace above the $100,000 zone. BTC is rising and might accelerate higher if it clears the $102,000 zone. Bitcoin started a decent increase above the $100,000 zone. The price is trading above $100,500 and the 100 hourly Simple moving average.