{"id":522564,"date":"2023-03-10T03:47:22","date_gmt":"2023-03-10T03:47:22","guid":{"rendered":"https:\/\/ktsl888.com\/?p=522564"},"modified":"2024-06-11T14:34:11","modified_gmt":"2024-06-11T14:34:11","slug":"bitcoin-price-crashes-20k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-price-crashes-20k\/","title":{"rendered":"Bitcoin Price Crashes To 20K, Why Upsides Turned Attractive To Sellers"},"content":{"rendered":"<p><em>Bitcoin price declined over 8% and tested the $20,000 support. BTC might correct higher, but upsides might be limited above the $21,200 zone.<\/em><\/p>\n<ul>\n<li>Bitcoin down over 8% and there was a spike below the $20,000 support.<\/li>\n<li>The price is trading below $21,000 and the 100 hourly simple moving average.<\/li>\n<li>There is a crucial bearish trend line forming with resistance near $21,300 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could correct higher, but the bears might be active near $21,000.<\/li>\n<\/ul>\n<h2>Bitcoin Price Takes Major Hit<\/h2>\n<p>Bitcoin price failed to rise above the $22,200 resistance zone. BTC faced a strong rise in selling interest, <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-btc-bears-pushing-20k\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">resulting in a drop below the $21,500 support zone<\/a>.<\/p>\n<p>The price is down over 8% and there was a crash towards the $20,000 support. The price even spiked below the $20,000 support zone. A new monthly low is formed near $19,800 and the price is now consolidating losses near the $20,000 zone.<\/p>\n<p>Bitcoin price is now trading below $21,000 and the <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-faces-rejection-23k\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>. An immediate resistance is near the $20,400 level. It is near the 23.6% Fib retracement level of the recent decline from the $22,600 swing high to $19,800 low.<\/p>\n<p>The next major resistance is near the $21,200 zone. There is also a crucial bearish trend line forming with resistance near $21,300 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 $22,600 swing high to $19,800 low.<\/p>\n<p><a href=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/Bitcoin-7.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-522565\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/Bitcoin-7.png?resize=1834%2C845\" alt=\"Bitcoin Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/Bitcoin-7.png?w=1834 1834w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/Bitcoin-7.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/Bitcoin-7.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/Bitcoin-7.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/Bitcoin-7.png?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/Bitcoin-7.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/Bitcoin-7.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/p>\n<p>The main resistance is now near the $22,000 zone. A close above the $22,000 resistance might start a decent increase in the coming days. The next key resistance is near the $22,600 zone, above which the price might gain bullish momentum and test $23,000.<\/p>\n<h2>More Losses in BTC?<\/h2>\n<p>If bitcoin price fails to clear the $21,000 resistance and the trend line, it could continue to move down. An immediate support on the downside is near the $20,000 zone.<\/p>\n<p>The next major support is near the $19,800 zone, below which the price might drop to $19,250. The next major support is near the $19,000 level. Any more losses might send the price towards the $18,400 level.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now losing pace in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 30 level.<\/p>\n<p>Major Support Levels \u2013 $20,000, followed by $19,800.<\/p>\n<p>Major Resistance Levels \u2013 $20,400, $21,000 and $22,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price declined over 8% and tested the $20,000 support. BTC might correct higher, but upsides might be limited above the $21,200 zone. Bitcoin down over 8% and there was a spike below the $20,000 support. The price is trading below $21,000 and the 100 hourly simple moving average. There is a crucial bearish trend line forming with resistance near $21,300 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could correct higher, but the bears might be active near $21,000. Bitcoin Price Takes Major Hit Bitcoin price failed to rise above the $22,200 resistance zone. BTC faced a strong rise in selling interest, resulting in a drop below the $21,500 support zone. The price is down over 8% and there was a crash towards the $20,000 support. The price even spiked below the $20,000 support zone. A new monthly low is formed near $19,800 and the price is now consolidating losses near the $20,000 zone. Bitcoin price is now trading below $21,000 and the 100 hourly simple moving average. An immediate resistance is near the $20,400 level. It is near the 23.6% Fib retracement level of the recent decline from the $22,600 swing high to $19,800 low. The next major resistance is near the $21,200 zone. There is also a crucial bearish trend line forming with resistance near $21,300 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 $22,600 swing high to $19,800 low. Source: BTCUSD on TradingView.com The main resistance is now near the $22,000 zone. A close above the $22,000 resistance might start a decent increase in the coming days. The next key resistance is near the $22,600 zone, above which the price might gain bullish momentum and test $23,000. More Losses in BTC? If bitcoin price fails to clear the $21,000 resistance and the trend line, it could continue to move down. An immediate support on the downside is near the $20,000 zone. The next major support is near the $19,800 zone, below which the price might drop to $19,250. The next major support is near the $19,000 level. Any more losses might send the price towards the $18,400 level. Technical indicators: Hourly MACD \u2013 The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 30 level. Major Support Levels \u2013 $20,000, followed by $19,800. Major Resistance Levels \u2013 $20,400, $21,000 and $22,000.<\/p>\n","protected":false},"author":67,"featured_media":463916,"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-522564","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<title>Bitcoin Price Crashes To 20K, Why Upsides Turned Attractive To Sellers<\/title>\n<meta name=\"description\" content=\"Bitcoin price declined over 8% and tested the $20,000 support. 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