{"id":502938,"date":"2022-09-20T16:57:14","date_gmt":"2022-09-20T16:57:14","guid":{"rendered":"https:\/\/ktsl888.com\/?p=502938"},"modified":"2024-06-11T14:26:23","modified_gmt":"2024-06-11T14:26:23","slug":"3-experts-take-on-the-bitcoin-price-will-19000-hold-or-break","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/3-experts-take-on-the-bitcoin-price-will-19000-hold-or-break\/","title":{"rendered":"3 Experts Take On The Bitcoin Price, Will $19,000 Hold Or Break?"},"content":{"rendered":"

The Bitcoin price has been moving sideways on low timeframes after experiencing a rejection north of $20,000. The number one cryptocurrency by market cap was benefiting from Ethereum\u2019s \u201cMerge\u201d bullish momentum, but with that factor gone, bears seem to be back in control. <\/strong><\/p>\n

Related Reading: ETH Backpedals After Hitting $1,800 Ahead Of Merge Last Week<\/a><\/strong><\/div>\n

At the time of writing, the Bitcoin price trades at $19,200 with a 14% loss over the past week and sideways movement in the last 24 hours. The cryptocurrency crashed below a critical support zone at around $18,500 during the weekend which has provided bearish arguments with fresh ammunition to forecast a new yearly low.<\/p>\n

\"Bitcoin
BTC’s price moving sideways on the 4-hour chart. Source: BTCUSDT Tradingview<\/strong><\/a><\/figcaption><\/figure>\n

The Last Line Of Defense For The Bitcoin Price?<\/h2>\n

The Bitcoin price trended to the downside since late 2021 when a reached a new all-time high at $69,000. In the months that followed, Bitcoin went on to lose over 80% of its value crashing into a yearly low of $17,600.<\/p>\n

The cryptocurrency bounced from those lows forming a short-term bottom at around $18,600. In recent days, BTC\u2019s price dropped to $18,200 which could suggest bears have gathered enough momentum to push the price into its yearly low and possibly fresh lows below $17,000.<\/p>\n

In a post \u201cMerge\u201d crypto market, macro factors seem to be exercising the most influence in the nascent asset class and traditional financial markets. Bitcoin has displayed a high correlation with major equities indexes since the start of its downside price action.<\/p>\n

According to analyst Josh Rager, the S&P 500 Index \u201cwant lower\u201d and could drag the Bitcoin price with it. The cryptocurrency is at a critical support zone, as mentioned, and breaking below its current levels could open the door for a fresh leg down. Rager recommended<\/a> traders stay flat in U.S. dollars as the market decides on a direction:<\/p>\n

This is the equities chart, it rejected off level above and looks like it wants lower. BTC is hovering at support for near $18k-$19k for the 5th time. It’s not looking so good right now but maybe we get a bounce again… I’m flat currently and will keep an eye on this.<\/p><\/blockquote>\n

\"Bitcoin
S&P 500 moves into critical support. Source: Josh Rager via Twitter<\/figcaption><\/figure>\n

U.S. Fed Poised To Influence Bitcoin Price<\/h3>\n

On low timeframes, the market seems to be gravitating towards liquidity pools created by leverage traders, according to Justin Bennett. There were over $1 billion in Bitcoin long staked at around $18,850 which seems to be the main support for the cryptocurrency\u2019s current price action.<\/p>\n

\n

Nothing like a liquidity hunt to start your morning.<\/p>\n

Nearly $1B in $BTC<\/a> longs had built up at $18,850 on Binance alone.<\/p>\n

Those longs have been erased.#Bitcoin<\/a> pic.twitter.com\/puGpyAltiv<\/a><\/p>\n

\u2014 Justin Bennett (@JustinBennettFX) September 20, 2022<\/a>\u00a0<\/span><\/p><\/blockquote>\n

This status quo seems to be on track for disruption as the U.S. Federal Reserve (Fed) will hold its Federal Open Market Committee (FOMC) meeting tomorrow. Therein, the financial institution will disclose its stand on current inflation and a potential interest rate hike above 75 basis points (bps).<\/p>\n

Related Reading: Cosmos Struggles With $17 As Price Heads Into Distribution Phase<\/a><\/strong><\/div>\n

Economist Alex Kr\u00fcger is aiming<\/a> at a potential short-term downside price action followed by more sideways movements if the Fed stays within market expectations. If there are surprises, and the financial institution hikes above 100 bps, the crypto market might react to the downside.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Bitcoin price has been moving sideways on low timeframes after experiencing a rejection north of $20,000. The number one cryptocurrency by market cap was benefiting from Ethereum\u2019s \u201cMerge\u201d bullish momentum, but with that factor gone, bears seem to be back in control. Related Reading: ETH Backpedals After Hitting $1,800 Ahead Of Merge Last Week At the time of writing, the Bitcoin price trades at $19,200 with a 14% loss over the past week and sideways movement in the last 24 hours. The cryptocurrency crashed below a critical support zone at around $18,500 during the weekend which has provided bearish arguments with fresh ammunition to forecast a new yearly low. The Last Line Of Defense For The Bitcoin Price? The Bitcoin price trended to the downside since late 2021 when a reached a new all-time high at $69,000. In the months that followed, Bitcoin went on to lose over 80% of its value crashing into a yearly low of $17,600. The cryptocurrency bounced from those lows forming a short-term bottom at around $18,600. In recent days, BTC\u2019s price dropped to $18,200 which could suggest bears have gathered enough momentum to push the price into its yearly low and possibly fresh lows below $17,000. In a post \u201cMerge\u201d crypto market, macro factors seem to be exercising the most influence in the nascent asset class and traditional financial markets. Bitcoin has displayed a high correlation with major equities indexes since the start of its downside price action. According to analyst Josh Rager, the S&P 500 Index \u201cwant lower\u201d and could drag the Bitcoin price with it. The cryptocurrency is at a critical support zone, as mentioned, and breaking below its current levels could open the door for a fresh leg down. Rager recommended traders stay flat in U.S. dollars as the market decides on a direction: This is the equities chart, it rejected off level above and looks like it wants lower. BTC is hovering at support for near $18k-$19k for the 5th time. It’s not looking so good right now but maybe we get a bounce again… I’m flat currently and will keep an eye on this. U.S. Fed Poised To Influence Bitcoin Price On low timeframes, the market seems to be gravitating towards liquidity pools created by leverage traders, according to Justin Bennett. There were over $1 billion in Bitcoin long staked at around $18,850 which seems to be the main support for the cryptocurrency\u2019s current price action. Nothing like a liquidity hunt to start your morning. Nearly $1B in $BTC longs had built up at $18,850 on Binance alone. Those longs have been erased.#Bitcoin pic.twitter.com\/puGpyAltiv \u2014 Justin Bennett (@JustinBennettFX) September 20, 2022\u00a0 This status quo seems to be on track for disruption as the U.S. Federal Reserve (Fed) will hold its Federal Open Market Committee (FOMC) meeting tomorrow. Therein, the financial institution will disclose its stand on current inflation and a potential interest rate hike above 75 basis points (bps). Related Reading: Cosmos Struggles With $17 As Price Heads Into Distribution Phase Economist Alex Kr\u00fcger is aiming at a potential short-term downside price action followed by more sideways movements if the Fed stays within market expectations. If there are surprises, and the financial institution hikes above 100 bps, the crypto market might react to the downside.<\/p>\n","protected":false},"author":535,"featured_media":501956,"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":[428,1119,78790],"class_list":["post-502938","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusdt"],"acf":[],"yoast_head":"\n3 Experts Take On The Bitcoin Price, Will $19,000 Hold Or Break?<\/title>\n<meta name=\"description\" content=\"The Bitcoin price has been moving sideways on low timeframes after experiencing a rejection north of $20,000.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. 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His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.","sameAs":["https:\/\/www.linkedin.com\/in\/reynaldo-mrquez-2ab111190\/","https:\/\/x.com\/rl_m"],"url":"https:\/\/ktsl888.com\/author\/reynaldomarquez\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"3 Experts Take On The Bitcoin Price, Will $19,000 Hold Or Break?","url":"http:\/\/ktsl888.com\/news\/3-experts-take-on-the-bitcoin-price-will-19000-hold-or-break\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/3-experts-take-on-the-bitcoin-price-will-19000-hold-or-break\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/09\/pexels-jievani-8185622.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/09\/pexels-jievani-8185622.jpg?fit=1280%2C1707"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Reynaldo Marquez"}],"creator":["Reynaldo Marquez"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","btcusdt"],"dateCreated":"2022-09-20T16:57:14Z","datePublished":"2022-09-20T16:57:14Z","dateModified":"2024-06-11T14:26:23Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"3 Experts Take On The Bitcoin Price, Will $19,000 Hold Or Break?\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/3-experts-take-on-the-bitcoin-price-will-19000-hold-or-break\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/3-experts-take-on-the-bitcoin-price-will-19000-hold-or-break\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2022\\\/09\\\/pexels-jievani-8185622.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2022\\\/09\\\/pexels-jievani-8185622.jpg?fit=1280%2C1707\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Reynaldo Marquez\"}],\"creator\":[\"Reynaldo Marquez\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"btcusdt\"],\"dateCreated\":\"2022-09-20T16:57:14Z\",\"datePublished\":\"2022-09-20T16:57:14Z\",\"dateModified\":\"2024-06-11T14:26:23Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/09\/pexels-jievani-8185622.jpg?fit=1280%2C1707","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/502938"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/535"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=502938"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/502938\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/501956"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=502938"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=502938"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=502938"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}