Bitcoin price is struggling to climb higher above $19,200 against the US Dollar. BTC could start a major decline if it breaks the $18,900 and $18,500 support levels.<\/p>\n
Bitcoin failed to gain pace and remained in a bearish zone below $19,500.
\nThe price is trading below $19,400 and the 100 hourly simple moving average.
\nThere is a short-term breakout pattern forming with resistance near $19,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a steady recovery if there is a clear move above $19,200 and then $19,500.<\/p>\n
Bitcoin Price Continues To Struggle<\/p>\n
Bitcoin price attempted a move towards the $19,500 resistance zone<\/a>. BTC remained in a bearish zone and even failed to clear the $19,400 level. A high was formed near $19,344 and there was a fresh decline.<\/p>\n The price declined below the $19,200 level and tested $18,950. A low is formed near $18,938 and the price is now consolidating losses. It traded above the 23.6% Fib retracement level of the recent drop from the $19,344 swing high to $18,938 low.<\/p>\n Bitcoin price is now trading below $19,400 and the 100 hourly simple moving average<\/a>. There is also a short-term breakout pattern forming with resistance near $19,200 on the hourly chart of the BTC\/USD pair.<\/p>\n On the upside, an immediate resistance is near the $19,150 level. It is close to the 50% Fib retracement level of the recent drop from the $19,344 swing high to $18,938 low. The first major resistance sits near the $19,200 level and the trend line.<\/p>\n <\/a><\/p>\n Source: BTCUSD on TradingView.com<\/a><\/p>\n The next major resistance might be $19,300 or the 100 hourly SMA. A clear move above the $19,300 resistance might send the price towards the $19,500 resistance. Any more gains might open the doors for a move towards the $20,000 resistance zone.<\/p>\n Downside Break in BTC?<\/p>\n If bitcoin fails to rise above the $19,200 resistance zone, it could continue to move down. An immediate support on the downside is near the $19,000 zone.<\/p>\n The next major support is near the $18,900 zone. A downside break and close below might call for a test of the main breakdown support at $18,500. Any more losses might start a major decline and the price could drop to $17,500.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is now losing 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 $19,000, followed by $18,900.<\/p>\n Major Resistance Levels \u2013 $19,200, $19,300 and $19,500.<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Bitcoin price is struggling to climb higher above $19,200 against the US Dollar. BTC could start a major decline if it breaks the $18,900 and $18,500 support levels.<\/p>\n Bitcoin failed to gain pace and remained in a bearish zone below $19,500. Bitcoin Price Continues To Struggle<\/p>\n Bitcoin price attempted a move towards the $19,500 resistance zone<\/a>. BTC remained in a bearish zone and even failed to clear the $19,400 level. A high was formed near $19,344 and there was a fresh decline.<\/p>\n The price declined below the $19,200 level and tested $18,950. A low is formed near $18,938 and the price is now consolidating losses. It traded above the 23.6% Fib retracement level of the recent drop from the $19,344 swing high to $18,938 low.<\/p>\n Bitcoin price is now trading below $19,400 and the 100 hourly simple moving average<\/a>. There is also a short-term breakout pattern forming with resistance near $19,200 on the hourly chart of the BTC\/USD pair.<\/p>\n On the upside, an immediate resistance is near the $19,150 level. It is close to the 50% Fib retracement level of the recent drop from the $19,344 swing high to $18,938 low. The first major resistance sits near the $19,200 level and the trend line.<\/p>\n
\nThe price is trading below $19,400 and the 100 hourly simple moving average.
\nThere is a short-term breakout pattern forming with resistance near $19,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a steady recovery if there is a clear move above $19,200 and then $19,500.<\/p>\n
![<\/a><\/p>\nSource: BTCUSD on TradingView.com<\/a><\/p>\nThe next major resistance might be $19,300 or the 100 hourly SMA. A clear move above the $19,300 resistance might send the price towards the $19,500 resistance. Any more gains might open the doors for a move towards the $20,000 resistance zone.<\/p>\nDownside Break in BTC?<\/p>\nIf bitcoin fails to rise above the $19,200 resistance zone, it could continue to move down. An immediate support on the downside is near the $19,000 zone.<\/p>\nThe next major support is near the $18,900 zone. A downside break and close below might call for a test of the main breakdown support at $18,500. Any more losses might start a major decline and the price could drop to $17,500.<\/p>\nTechnical indicators:<\/p>\nHourly MACD \u2013 The MACD is now losing pace in the bearish zone.<\/p>\nHourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level.<\/p>\nMajor Support Levels \u2013 $19,000, followed by $18,900.<\/p>\nMajor Resistance Levels \u2013 $19,200, $19,300 and $19,500.<\/p>","protected":false},"excerpt":{"rendered":"<\/p>\nBitcoin price is struggling to climb higher above $19,200 against the US Dollar. BTC could start a major decline if it breaks the $18,900 and $18,500 support levels.<\/p>\nBitcoin failed to gain pace and remained in a bearish zone below $19,500.\nThe price is trading below $19,400 and the 100 hourly simple moving average.\nThere is a short-term breakout pattern forming with resistance near $19,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken).\nThe pair could start a steady recovery if there is a clear move above $19,200 and then $19,500.<\/p>\nBitcoin Price Continues To Struggle<\/p>\nBitcoin price attempted a move towards the $19,500 resistance zone<\/a>. BTC remained in a bearish zone and even failed to clear the $19,400 level. A high was formed near $19,344 and there was a fresh decline.<\/p>\nThe price declined below the $19,200 level and tested $18,950. A low is formed near $18,938 and the price is now consolidating losses. It traded above the 23.6% Fib retracement level of the recent drop from the $19,344 swing high to $18,938 low.<\/p>\nBitcoin price is now trading below $19,400 and the 100 hourly simple moving average<\/a>. There is also a short-term breakout pattern forming with resistance near $19,200 on the hourly chart of the BTC\/USD pair.<\/p>\nOn the upside, an immediate resistance is near the $19,150 level. It is close to the 50% Fib retracement level of the recent drop from the $19,344 swing high to $18,938 low. The first major resistance sits near the $19,200 level and the trend line.<\/p>\n<\/a><\/p>\nSource: BTCUSD on TradingView.com<\/a><\/p>\nThe next major resistance might be $19,300 or the 100 hourly SMA. A clear move above the $19,300 resistance might send the price towards the $19,500 resistance. Any more gains might open the doors for a move towards the $20,000 resistance zone.<\/p>\nDownside Break in BTC?<\/p>\nIf bitcoin fails to rise above the $19,200 resistance zone, it could continue to move down. An immediate support on the downside is near the $19,000 zone.<\/p>\nThe next major support is near the $18,900 zone. A downside break and close below might call for a test of the main breakdown support at $18,500. Any more losses might start a major decline and the price could drop to $17,500.<\/p>\nTechnical indicators:<\/p>\nHourly MACD \u2013 The MACD is now losing pace in the bearish zone.<\/p>\nHourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level.<\/p>\nMajor Support Levels \u2013 $19,000, followed by $18,900.<\/p>\nMajor Resistance Levels \u2013 $19,200, $19,300 and $19,500.<\/p>\n<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-10255","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/10255","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=10255"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/10255\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=10255"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=10255"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=10255"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/10\/Bitcoin-16.png\"){kind=link}