Bitcoin price has been trading sideways, struggling to break past its immediate resistance level. Over the last 24 hours, Bitcoin fell by 1%, confirming sideways trading. In the last week, BTC has barely made any progress with its price.<\/p>\n
If the coin continues to stick around the same price level, it could soon be a free fall for the asset. The technical outlook points towards the weakness in buying power. Demand for the coin remains low as the asset fails to move up north.<\/p>\n
A fall from this price zone could even bring the Bitcoin price to as low as $18,000. At the moment, the $18,900 price level remains strong support for the coin. If the coin reaches the $18,000 support line, the next level stands at $17,400.<\/p>\n
Depreciation from the $17,000 level can even drag the price of the asset to $16,000. A push above the $20,000 mark could invalidate the bears for sometime, but demand for BTC has to shoot up over the immediate trading sessions.<\/p>\n
Bitcoin Price Analysis: One-Day Chart BTC was trading at $19,200 at the time of writing. The coin has been rejected from the $19,600 price level in the past trading sessions.<\/p>\n The immediate resistance mark is at $19,400, a move above that can push BTC to $19,600. For the bulls to take action, BTC has to topple above the $20,000 price level.<\/p>\n On the flip side, the coin\u2019s support line was at $18,900. If the bears remain in control, the next stop would be at $18,000. Following $18,000, a further fall will bring the coin to $17,400 and then to $16,000.<\/p>\n The amount of Bitcoin traded in the last session declined which indicated a falling buying strength at the time of writing.<\/p>\n Technical Analysis The coin\u2019s demand has decreased as a result of the consolidation. The technical indicators pointed out how the bears were still in charge. A move to the next resistance level could help BTC gain buyers.<\/p>\n The Relative Strength Index was below the half-line, which meant fewer buyers and more sellers.<\/p>\n The Bitcoin price was below the 20-SMA line, which meant that there was a lack of demand and that sellers were driving the price momentum in the market.<\/p>\n Bitcoin noted buy signal on the one-day chart | Source: BTCUSD on TradingView<\/a><\/p>\n The other technical indicators also signalled bearish strength. However, the one-day chart managed to paint buy signal for the coin.<\/p>\n The Moving Average Convergence Divergence measures the price momentum and the overall direction of the asset.<\/p>\n The MACD continued to form green signal bars, which was buy signal for the coin. This could indicate that BTC might witness upward movement on the chart.<\/p>\n The Directional Movement Index points at the price direction and strength of the asset. DMI was negative as the -DI line (orange) was above the +DI line (blue).<\/p>\n The Average Directional Index (red) was below the 20-mark, a sign of weakness in the current price movement.<\/p>\n Featured image from UnSplash , Chart: TradingView.com<\/a><\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Bitcoin price has been trading sideways, struggling to break past its immediate resistance level. Over the last 24 hours, Bitcoin fell by 1%, confirming sideways trading. In the last week, BTC has barely made any progress with its price.<\/p>\n If the coin continues to stick around the same price level, it could soon be a free fall for the asset. The technical outlook points towards the weakness in buying power. Demand for the coin remains low as the asset fails to move up north.<\/p>\n A fall from this price zone could even bring the Bitcoin price to as low as $18,000. At the moment, the $18,900 price level remains strong support for the coin. If the coin reaches the $18,000 support line, the next level stands at $17,400.<\/p>\n Depreciation from the $17,000 level can even drag the price of the asset to $16,000. A push above the $20,000 mark could invalidate the bears for sometime, but demand for BTC has to shoot up over the immediate trading sessions.<\/p>\n Bitcoin Price Analysis: One-Day Chart BTC was trading at $19,200 at the time of writing. The coin has been rejected from the $19,600 price level in the past trading sessions.<\/p>\n The immediate resistance mark is at $19,400, a move above that can push BTC to $19,600. For the bulls to take action, BTC has to topple above the $20,000 price level.<\/p>\n On the flip side, the coin\u2019s support line was at $18,900. If the bears remain in control, the next stop would be at $18,000. Following $18,000, a further fall will bring the coin to $17,400 and then to $16,000.<\/p>\n The amount of Bitcoin traded in the last session declined which indicated a falling buying strength at the time of writing.<\/p>\n Technical Analysis The coin\u2019s demand has decreased as a result of the consolidation. The technical indicators pointed out how the bears were still in charge. A move to the next resistance level could help BTC gain buyers.<\/p>\n The Relative Strength Index was below the half-line, which meant fewer buyers and more sellers.<\/p>\n The Bitcoin price was below the 20-SMA line, which meant that there was a lack of demand and that sellers were driving the price momentum in the market.<\/p>\n
\nBitcoin was priced at $19,200 on the one-day chart | Source: BTCUSD on TradingView<\/a><\/p>\n
\nBitcoin registered fall in buying strength on the one-day chart | Source: BTCUSD on TradingView<\/a><\/p>\n
\nBitcoin was priced at $19,200 on the one-day chart | Source: BTCUSD on TradingView<\/a><\/p>\n
\nBitcoin registered fall in buying strength on the one-day chart | Source: BTCUSD on TradingView<\/a><\/p>\n