{"id":494415,"date":"2022-06-29T03:28:14","date_gmt":"2022-06-29T03:28:14","guid":{"rendered":"https:\/\/ktsl888.com\/?p=494415"},"modified":"2024-06-11T07:56:06","modified_gmt":"2024-06-11T07:56:06","slug":"bitcoin-turns-red-20k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-turns-red-20k\/","title":{"rendered":"TA: Bitcoin Turns Red, Why BTC Could Trade To New Monthly Lows"},"content":{"rendered":"
Bitcoin is struggling below the $21,000 zone against the US Dollar. BTC could continue to move down unless there is a clear move above the $20,750 resistance zone.<\/em><\/p>\n Bitcoin price remained in a bearish zone<\/a> below the $21,000 pivot level. The bulls struggled to push the price higher and there was a bearish reaction below the $20,800 level.<\/p>\n The price traded below the 61.8% Fib retracement level of the key recovery from the $19,750 swing low to $21,780 high. The decline was such that the bears even pushed the price below the $20,550 and $20,500 support levels.<\/p>\n It tested the 76.4% Fib retracement level of the key recovery from the $19,750 swing low to $21,780 high. Bitcoin is now trading below the $20,500 level and the 100 hourly simple moving average<\/a>.<\/p>\n An immediate resistance on the upside is near the $20,520 level. The next key resistance is near the $20,750 zone. There is also a major bearish trend line forming with resistance near $20,820 on the hourly chart of the BTC\/USD pair.<\/p>\n <\/a><\/p>\n A clear move above the trend line resistance and then $21,000 could initiate a decent increase. In the stated case, the price could rise above the $21,250 level. The next major hurdle for the bulls might be near the $21,750 zone, above which the price may perhaps rise towards the $22,500 level.<\/p>\n If bitcoin fails to clear the $21,000 resistance zone, it could continue to move down. An immediate support on the downside is near the $20,220 level.<\/p>\n A downside break below the $20,220 support zone could push the price further lower. The next major support sits near the $20,000 zone. Any more losses could send the price towards the $18,800 level or a new monthly low.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level.<\/p>\n Major Support Levels \u2013 $20,220, followed by $20,000.<\/p>\n Major Resistance Levels \u2013 $20,520, $20,800 and $21,250.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin is struggling below the $21,000 zone against the US Dollar. BTC could continue to move down unless there is a clear move above the $20,750 resistance zone. Bitcoin started a fresh decline below the $21,000 and $20,500 levels. The price is now trading below the $20,500 level and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $20,820 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could decline further if there is a clear move below the $20,000 zone. Bitcoin Price Is Sliding Bitcoin price remained in a bearish zone below the $21,000 pivot level. The bulls struggled to push the price higher and there was a bearish reaction below the $20,800 level. The price traded below the 61.8% Fib retracement level of the key recovery from the $19,750 swing low to $21,780 high. The decline was such that the bears even pushed the price below the $20,550 and $20,500 support levels. It tested the 76.4% Fib retracement level of the key recovery from the $19,750 swing low to $21,780 high. Bitcoin is now trading below the $20,500 level and the 100 hourly simple moving average. An immediate resistance on the upside is near the $20,520 level. The next key resistance is near the $20,750 zone. There is also a major bearish trend line forming with resistance near $20,820 on the hourly chart of the BTC\/USD pair. Source: BTCUSD on TradingView.com A clear move above the trend line resistance and then $21,000 could initiate a decent increase. In the stated case, the price could rise above the $21,250 level. The next major hurdle for the bulls might be near the $21,750 zone, above which the price may perhaps rise towards the $22,500 level. More Losses in BTC? If bitcoin fails to clear the $21,000 resistance zone, it could continue to move down. An immediate support on the downside is near the $20,220 level. A downside break below the $20,220 support zone could push the price further lower. The next major support sits near the $20,000 zone. Any more losses could send the price towards the $18,800 level or a new monthly low. Technical indicators: Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level. Major Support Levels \u2013 $20,220, followed by $20,000. Major Resistance Levels \u2013 $20,520, $20,800 and $21,250.<\/p>\n","protected":false},"author":67,"featured_media":457732,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1144,78790,76835],"class_list":["post-494415","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n\n
Bitcoin Price Is Sliding<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
More Losses in BTC?<\/h2>\n