{"id":494792,"date":"2022-07-04T03:08:27","date_gmt":"2022-07-04T03:08:27","guid":{"rendered":"https:\/\/ktsl888.com\/?p=494792"},"modified":"2024-06-11T14:21:16","modified_gmt":"2024-06-11T14:21:16","slug":"bitcoin-remains-in-downtrend-20k-2","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-remains-in-downtrend-20k-2\/","title":{"rendered":"TA: Bitcoin Remains In Downtrend, What Could Spark Sharp Upside"},"content":{"rendered":"
Bitcoin is trading in a bearish zone below $19,500 against the US Dollar. BTC might start a sharp recovery wave if there is a move above the $19,500 resistance.<\/em><\/p>\n Bitcoin price started another decline<\/a> below the $19,500 support zone. The price even traded below the $19,000 support zone and spiked below the $18,800 level.<\/p>\n A low was formed near $18,738 and the price is now consolidating losses. There was a minor upward move above the $19,000 resistance zone. The price climbed above the 23.6% Fib retracement level of the recent decline from the $20,500 swing high to $18,738 low.<\/p>\n However, the price is now facing a strong resistance near the $19,400 zone and the 100 hourly simple moving average<\/a>. There is also a crucial bearish trend line forming with resistance near $19,500 on the hourly chart of the BTC\/USD pair.<\/p>\n The trend line is close to the 50% Fib retracement level of the recent decline from the $20,500 swing high to $18,738 low.<\/p>\n <\/a><\/p>\n The next key resistance is near the $19,800 zone. A clear move above the trend line resistance and then $19,800 could push the price further higher. In the stated case, the price could rise towards the $20,500 level. The next major resistance sits near the $21,200 level.<\/p>\n If bitcoin fails to clear the $19,500 resistance zone, it could start another decline. An immediate support on the downside is near the $19,000 level.<\/p>\n The next major support now sits near the $18,700 level, below which the price could decline heavily. In the stated case, the price may perhaps decline towards the $17,500 level.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is now losing pace in the bullish 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 $19,000, followed by $18,700.<\/p>\n Major Resistance Levels \u2013 $19,500, $19,800 and $20,500.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin is trading in a bearish zone below $19,500 against the US Dollar. BTC might start a sharp recovery wave if there is a move above the $19,500 resistance. Bitcoin failed to gain pace above the $19,500 and $19,600 resistance levels. The price is now trading below the $20,000 level and the 100 hourly simple moving average. There is a crucial bearish trend line forming with resistance near $19,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start a fresh decline unless there is a move above the $19,500 resistance zone. Bitcoin Price Eyes Upside Break Bitcoin price started another decline below the $19,500 support zone. The price even traded below the $19,000 support zone and spiked below the $18,800 level. A low was formed near $18,738 and the price is now consolidating losses. There was a minor upward move above the $19,000 resistance zone. The price climbed above the 23.6% Fib retracement level of the recent decline from the $20,500 swing high to $18,738 low. However, the price is now facing a strong resistance near the $19,400 zone and the 100 hourly simple moving average. There is also a crucial bearish trend line forming with resistance near $19,500 on the hourly chart of the BTC\/USD pair. The trend line is close to the 50% Fib retracement level of the recent decline from the $20,500 swing high to $18,738 low. Source: BTCUSD on TradingView.com The next key resistance is near the $19,800 zone. A clear move above the trend line resistance and then $19,800 could push the price further higher. In the stated case, the price could rise towards the $20,500 level. The next major resistance sits near the $21,200 level. Fresh Decline in BTC? If bitcoin fails to clear the $19,500 resistance zone, it could start another decline. An immediate support on the downside is near the $19,000 level. The next major support now sits near the $18,700 level, below which the price could decline heavily. In the stated case, the price may perhaps decline towards the $17,500 level. Technical indicators: Hourly MACD \u2013 The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level. Major Support Levels \u2013 $19,000, followed by $18,700. Major Resistance Levels \u2013 $19,500, $19,800 and $20,500.<\/p>\n","protected":false},"author":67,"featured_media":464592,"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-494792","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 Eyes Upside Break<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Fresh Decline in BTC?<\/h2>\n