Bitcoin is moving lower below the $21,000 zone against the US Dollar. BTC could gain bearish momentum below the $20,650 support zone.<\/p>\n
Bitcoin struggled to rise above $21,200 and declined towards $20,650.
\nThe price is now below the $21,000 level and the 100 hourly simple moving average.
\nThere is a key bearish trend line forming with resistance near $21,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could decline further if there is a clear move below the $20,650 zone.<\/p>\n
Bitcoin Price Remains At Risk<\/p>\n
Bitcoin price failed to clear the $21,500 resistance zone and started a fresh decline. The price declined below the $21,200 and $21,000 levels.<\/p>\n
There was a clear move below the 50% Fib retracement level of the upward move from the $19,751 swing low to $21,780 high. There was also a close below the $20,800 level and the 100 hourly simple moving average.<\/p>\n
Bitcoin tested the $20,600 and $20,500 support levels. It is now consolidating near the 61.8% Fib retracement level of the upward move from the $19,751 swing low to $21,780 high. An immediate resistance on the upside is near the $21,920 level.<\/p>\n
The next key resistance is near the $21,000 level. There is also a key bearish trend line forming with resistance near $21,000 on the hourly chart of the BTC\/USD pair. A clear move above the $21,000 level might start a decent increase.<\/p>\n\n
Source: BTCUSD on TradingView.com<\/p>\n
In the stated case, the price could rise above the $21,250 level. The next major stop might be near the $21,780 high, above which the price may perhaps rise towards the $22,500 level.<\/p>\n
More Losses in BTC?<\/p>\n
If bitcoin fails to clear the $21,250 resistance zone, it could continue to move down. An immediate support on the downside is near the $20,650 zone and $20,500.<\/p>\n
A downside break below the $20,650 support zone could start a major decline. In the stated case, the price might slide towards the $20,000 level. Any more losses could set the pace for a move towards the $19,200 level or even $18,800 in the coming sessions.<\/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 $20,500, followed by $20,000.<\/p>\n
Major Resistance Levels \u2013 $20,920, $21,250 and $22,500.<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
Bitcoin is moving lower below the $21,000 zone against the US Dollar. BTC could gain bearish momentum below the $20,650 support zone.<\/p>\n
Bitcoin struggled to rise above $21,200 and declined towards $20,650.
\nThe price is now below the $21,000 level and the 100 hourly simple moving average.
\nThere is a key bearish trend line forming with resistance near $21,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could decline further if there is a clear move below the $20,650 zone.<\/p>\n
Bitcoin Price Remains At Risk<\/p>\n
Bitcoin price failed to clear the $21,500 resistance zone and started a fresh decline. The price declined below the $21,200 and $21,000 levels.<\/p>\n
There was a clear move below the 50% Fib retracement level of the upward move from the $19,751 swing low to $21,780 high. There was also a close below the $20,800 level and the 100 hourly simple moving average.<\/p>\n
Bitcoin tested the $20,600 and $20,500 support levels. It is now consolidating near the 61.8% Fib retracement level of the upward move from the $19,751 swing low to $21,780 high. An immediate resistance on the upside is near the $21,920 level.<\/p>\n
The next key resistance is near the $21,000 level. There is also a key bearish trend line forming with resistance near $21,000 on the hourly chart of the BTC\/USD pair. A clear move above the $21,000 level might start a decent increase.<\/p>\n
Source: BTCUSD on TradingView.com<\/p>\n
In the stated case, the price could rise above the $21,250 level. The next major stop might be near the $21,780 high, above which the price may perhaps rise towards the $22,500 level.<\/p>\n
More Losses in BTC?<\/p>\n
If bitcoin fails to clear the $21,250 resistance zone, it could continue to move down. An immediate support on the downside is near the $20,650 zone and $20,500.<\/p>\n
A downside break below the $20,650 support zone could start a major decline. In the stated case, the price might slide towards the $20,000 level. Any more losses could set the pace for a move towards the $19,200 level or even $18,800 in the coming sessions.<\/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 $20,500, followed by $20,000.<\/p>\n
Major Resistance Levels \u2013 $20,920, $21,250 and $22,500.<\/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-2116","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\/2116","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=2116"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/2116\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=2116"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=2116"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=2116"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}