Image default
BitcoinBTCbtcusdBTCUSDTxbtusd

Bitcoin Price Stuck Below Resistance, Why Bears Could Aim More Losses

Bitcoin began an upside correction above $19,000 in opposition to the US Dollar. BTC is now going through a powerful resistance close to the $19,350 and $19,500 ranges.

  • Bitcoin is trying an upside correction above the $19,000 degree.
  • The price continues to be buying and selling beneath $19,500 and the 100 hourly easy transferring common.
  • There is a serious bearish development line forming with resistance close to $19,420 on the hourly chart of the BTC/USD pair (information feed from Kraken).
  • The pair should clear the development line and the 100 hourly SMA to proceed larger in the direction of $20,500.

Bitcoin Price Faces Hurdles

Bitcoin price began a short-term upside correction from the $18,223 low. BTC was in a position to climb above the $18,800 and $19,000 ranges. It even cleared the $19,350 resistance zone.

However, the price confronted a powerful resistance close to the $19,650 degree and the 100 hourly easy transferring common. A excessive was shaped close to $19,678 and the price began a recent decline. There was a transfer beneath the $19,500 and $19,400 ranges.

Bitcoin price traded beneath the 50% Fib retracement degree of the upward transfer from the $18,223 swing low to $19,678 excessive. The bulls are actually defending the $18,800 assist zone.

The 61.8% Fib retracement degree of the upward transfer from the $18,223 swing low to $19,678 excessive is appearing as a assist. On the upside, a right away resistance is close to the $19,200 degree. The subsequent main resistance sits close to the $19,350 degree.

Bitcoin Price

Source: BTCUSD on TradingView.com

There can be a serious bearish development line forming with resistance close to $19,420 on the hourly chart of the BTC/USD pair. A transparent transfer above the development line, the 100 hourly easy transferring common, and $19,500 might open the doorways for a transfer in the direction of the $20,000 degree. Any extra positive aspects may ship the price in the direction of the $20,500 resistance zone.

Fresh Decline in BTC?

If bitcoin fails to proceed larger above the $19,350 resistance zone, it might begin a recent decline. An rapid assist on the draw back is close to the $18,800 zone.

The subsequent main assist is close to the $18,550 degree. A transparent transfer beneath the $18,550 zone might set the tempo for a bigger decline. In the acknowledged case, the price might even decline beneath the $18,223 swing low.

Technical indicators:

Hourly MACD – The MACD is now shedding tempo within the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now close to the 50 degree.

Major Support Levels – $18,800, adopted by $18,550.

Major Resistance Levels – $19,200, $19,350 and $19,500.

Related posts

Unorthodox Bitcoin Trend Could Trigger BTC Demand and Accelerate Price, Says Crypto Asset Manager CoinShares

Crypto Advisor

Bitcoin a Starting Point for Developing Central Bank Digital Currency, Says Big Four Firm Deloitte

Crypto Advisor

Bitcoin Looking Scary, According to Veteran Trader Tone Vays – Here’s His Worst-Case Scenario for BTC

Crypto Advisor

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

bitcoin
Bitcoin (BTC) $ 18,906.10 2.81%
ethereum
Ethereum (ETH) $ 1,335.21 2.06%
tether
Tether (USDT) $ 0.998214 0.27%
usd-coin
USD Coin (USDC) $ 0.997511 0.36%
bnb
BNB (BNB) $ 266.45 1.04%
binance-usd
Binance USD (BUSD) $ 0.996987 0.19%
cardano
Cardano (ADA) $ 0.461132 2.71%
xrp
XRP (XRP) $ 0.409525 8.19%
polkadot
Polkadot (DOT) $ 6.31 0.19%
solana
Solana (SOL) $ 31.79 2.14%
shiba-inu
Shiba Inu (SHIB) $ 0.000011 2.70%
dogecoin
Dogecoin (DOGE) $ 0.059358 1.63%
staked-ether
Lido Staked Ether (STETH) $ 1,324.45 2.02%
matic-network
Polygon (MATIC) $ 0.737895 2.79%
tron
TRON (TRX) $ 0.059795 0.81%
dai
Dai (DAI) $ 0.997979 0.25%
avalanche-2
Avalanche (AVAX) $ 16.72 2.49%
ethereum-classic
Ethereum Classic (ETC) $ 29.19 2.26%
leo-token
LEO Token (LEO) $ 4.82 2.98%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 18,983.89 2.50%
uniswap
Uniswap (UNI) $ 5.35 2.12%
litecoin
Litecoin (LTC) $ 52.37 0.05%
cosmos
Cosmos Hub (ATOM) $ 13.80 10.07%
okb
OKB (OKB) $ 14.94 0.54%
ftx-token
FTX (FTT) $ 23.44 2.55%
terra-luna
Terra Luna Classic (LUNC) $ 0.000295 1.01%
near
NEAR Protocol (NEAR) $ 3.84 4.93%
chainlink
Chainlink (LINK) $ 6.93 4.16%
crypto-com-chain
Cronos (CRO) $ 0.104046 0.05%
monero
Monero (XMR) $ 142.08 1.00%
stellar
Stellar (XLM) $ 0.116009 4.77%
bitcoin-cash
Bitcoin Cash (BCH) $ 112.95 0.87%
algorand
Algorand (ALGO) $ 0.326424 3.92%
flow
Flow (FLOW) $ 1.69 0.05%
vechain
VeChain (VET) $ 0.022787 0.02%
eos
EOS (EOS) $ 1.33 3.50%
internet-computer
Internet Computer (ICP) $ 5.94 1.69%
filecoin
Filecoin (FIL) $ 5.33 2.02%
chain-2
Chain (XCN) $ 0.064931 4.08%
frax
Frax (FRAX) $ 0.998759 0.13%
hedera-hashgraph
Hedera (HBAR) $ 0.057795 2.09%
decentraland
Decentraland (MANA) $ 0.710257 2.14%
apecoin
ApeCoin (APE) $ 5.84 0.93%
the-sandbox
The Sandbox (SAND) $ 0.849996 0.92%
tezos
Tezos (XTZ) $ 1.48 1.25%
quant-network
Quant (QNT) $ 102.22 4.27%
axie-infinity
Axie Infinity (AXS) $ 12.36 2.65%
aave
Aave (AAVE) $ 74.60 1.98%
lido-dao
Lido DAO (LDO) $ 1.81 0.24%
elrond-erd-2
Elrond (EGLD) $ 47.85 0.25%
theta-token
Theta Network (THETA) $ 1.04 0.43%
true-usd
TrueUSD (TUSD) $ 0.996788 0.36%
chiliz
Chiliz (CHZ) $ 0.238551 4.59%
bitcoin-sv
Bitcoin SV (BSV) $ 48.76 0.80%
compound-usd-coin
cUSDC (CUSDC) $ 0.022652 0.01%
paxos-standard
Pax Dollar (USDP) $ 0.996288 0.11%
kucoin-shares
KuCoin (KCS) $ 8.94 0.98%
bittorrent
BitTorrent (BTT) $ 0.0000007808222 2.69%
ecash
eCash (XEC) $ 0.00004 1.11%
the-graph
The Graph (GRT) $ 0.09763 3.26%
iota
IOTA (MIOTA) $ 0.263561 1.46%
zcash
Zcash (ZEC) $ 53.88 2.37%
huobi-btc
Huobi BTC (HBTC) $ 18,934.23 2.53%
usdd
USDD (USDD) $ 0.995137 0.48%
huobi-token
Huobi (HT) $ 4.56 1.76%
evmos
Evmos (EVMOS) $ 2.49 5.66%
havven
Synthetix Network (SNX) $ 2.33 6.51%
cdai
cDAI (CDAI) $ 0.022069 0.06%
maker
Maker (MKR) $ 611.54 1.50%
bitdao
BitDAO (BIT) $ 0.479829 0.37%
klay-token
Klaytn (KLAY) $ 0.200494 0.71%
neutrino
Neutrino USD (USDN) $ 0.931564 3.09%
fantom
Fantom (FTM) $ 0.227771 1.09%
compound-ether
cETH (CETH) $ 26.72 2.42%
neo
NEO (NEO) $ 8.37 0.09%
helium
Helium (HNT) $ 4.81 1.86%
gatechain-token
Gate (GT) $ 4.16 0.09%
defichain
DeFiChain (DFI) $ 0.822327 1.95%
radix
Radix (XRD) $ 0.056865 1.83%
celsius-degree-token
Celsius Network (CEL) $ 1.44 4.20%
pax-gold
PAX Gold (PAXG) $ 1,655.94 0.71%
pancakeswap-token
PancakeSwap (CAKE) $ 4.36 1.49%
thorchain
THORChain (RUNE) $ 1.62 3.60%
osmosis
Osmosis (OSMO) $ 1.22 8.37%
zilliqa
Zilliqa (ZIL) $ 0.031975 0.75%
enjincoin
Enjin Coin (ENJ) $ 0.476492 1.59%
nexo
NEXO (NEXO) $ 0.875765 2.52%
arweave
Arweave (AR) $ 9.62 0.35%