BTCUSD on TradingView.com<\/a><\/p>\nThe trend line is near the 50% Fib retracement level of the recent decline from the $23,450 swing high to $22,418 low. A clear move above the $23,000 resistance might start a decent increase. In the stated case, the price may perhaps rise towards the $23,500 level. The next resistance could be near the $23,650 level, above which btc price might rise towards the $24,250 resistance zone.<\/p>\n
More Losses in BTC?<\/h2>\n If bitcoin price fails to clear the $23,000 resistance, it could continue to move down. An immediate support on the downside is near the $22,500 zone.<\/p>\n
A close below the $22,500 support might spark bearish moves. The next major support is near the $22,200 zone. A downside break below the $22,200 zone might send the price towards the $21,500 zone.<\/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 $22,500, followed by $22,200.<\/p>\n
Major Resistance Levels \u2013 $23,000, $23,500 and $23,650.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price failed again and declined below $23,000. BTC is moving lower and might decline further below the $22,500 support. Bitcoin is moving lower from the $23,500 resistance zone. The price is trading below $23,000 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $22,980 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could accelerate lower if there is a close below the $22,500 support zone. Bitcoin Price Trims Gains Bitcoin price attempted an upside break above the $23,500 resistance zone. BTC bulls struggled to clear the $23,500 barrier. A high was formed near the $23,450 zone and the price started a bearish wave. There was a move below the $23,200 and $23,000 levels. The decline gained pace below the $22,800 level and the 100 hourly simple moving average. The price even spiked below $22,500. A low is formed near $22,418 and the price is now consolidating losses. Bitcoin price is trading below $23,000 and the 100 hourly simple moving average. An immediate resistance is near the $22,660 level. It is near the 23.6% Fib retracement level of the recent decline from the $23,450 swing high to $22,418 low. The next major resistance is near the $23,000 zone. There is also a key bearish trend line forming with resistance near $22,980 on the hourly chart of the BTC\/USD pair. Source: BTCUSD on TradingView.com The trend line is near the 50% Fib retracement level of the recent decline from the $23,450 swing high to $22,418 low. A clear move above the $23,000 resistance might start a decent increase. In the stated case, the price may perhaps rise towards the $23,500 level. The next resistance could be near the $23,650 level, above which btc price might rise towards the $24,250 resistance zone. More Losses in BTC? If bitcoin price fails to clear the $23,000 resistance, it could continue to move down. An immediate support on the downside is near the $22,500 zone. A close below the $22,500 support might spark bearish moves. The next major support is near the $22,200 zone. A downside break below the $22,200 zone might send the price towards the $21,500 zone. 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 $22,500, followed by $22,200. Major Resistance Levels \u2013 $23,000, $23,500 and $23,650.<\/p>\n","protected":false},"author":67,"featured_media":464089,"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":[428,679,1144,78790,76835],"class_list":["post-519085","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n
Bitcoin Price Takes Hit as Indicators Signal Fresh Bearish Wave<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n