Bitcoin started a fresh decline below the $22,000 support against the US Dollar. BTC is declining and might extend losses below the $20,500 support zone.<\/p>\n
Bitcoin started a fresh decline and traded below the $22,000 level.
\nThe price is now trading below the $22,000 level and the 100 hourly simple moving average.
\nThere is a major bearish trend line forming with resistance near $21,950 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair might decline further if there is a clear move below the $20,800 level.<\/p>\n
Bitcoin Price Gains Bearish Momentum<\/p>\n
Bitcoin price started a fresh decline<\/a> after it failed to clear the $24,000 resistance zone. There was a steady decline below the $23,500 and $23,000 levels.<\/p>\n The bears gained strength for a move below the $22,500 support level and the 100 hourly simple moving average<\/a>. Finally, the price traded below the $21,500 support level and even spiked below $21,000. A low is formed near $20,994 and the price is now consolidating losses.<\/p>\n On the upside, bitcoin price could face resistance near the $21,650 level. It is near the 50% Fib retracement level of the recent decline from the $22,250 swing high to $20,994 low.<\/p>\n The next key resistance is near the $22,000 zone. There is also a major bearish trend line forming with resistance near $21,950 on the hourly chart of the BTC\/USD pair. The trend line is near the 76.4% Fib retracement level of the recent decline from the $22,250 swing high to $20,994 low.<\/p>\n <\/a><\/p>\n Source: BTCUSD on TradingView.com<\/a><\/p>\n A close above the $22,000 resistance zone could set the pace for more gains. In the stated case, the price may perhaps rise towards the $22,500 level. The next major resistance sits near the $23,000 level.<\/p>\n More Losses in BTC?<\/p>\n If bitcoin fails to start a recovery wave above the $21,650 level, it could continue to move down. An immediate support on the downside is near the $21,000 level.<\/p>\n The next major support now sits near the $20,500 level. A clear break and close below the $20,500 support zone might send the price towards $20,000 in the near term.<\/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 well below the 50 level.<\/p>\n Major Support Levels \u2013 $21,000, followed by $20,500.<\/p>\n Major Resistance Levels \u2013 $21,650, $22,000 and $22,500.<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Bitcoin started a fresh decline below the $22,000 support against the US Dollar. BTC is declining and might extend losses below the $20,500 support zone.<\/p>\n Bitcoin started a fresh decline and traded below the $22,000 level. Bitcoin Price Gains Bearish Momentum<\/p>\n Bitcoin price started a fresh decline<\/a> after it failed to clear the $24,000 resistance zone. There was a steady decline below the $23,500 and $23,000 levels.<\/p>\n The bears gained strength for a move below the $22,500 support level and the 100 hourly simple moving average<\/a>. Finally, the price traded below the $21,500 support level and even spiked below $21,000. A low is formed near $20,994 and the price is now consolidating losses.<\/p>\n On the upside, bitcoin price could face resistance near the $21,650 level. It is near the 50% Fib retracement level of the recent decline from the $22,250 swing high to $20,994 low.<\/p>\n The next key resistance is near the $22,000 zone. There is also a major bearish trend line forming with resistance near $21,950 on the hourly chart of the BTC\/USD pair. The trend line is near the 76.4% Fib retracement level of the recent decline from the $22,250 swing high to $20,994 low.<\/p>\n
\nThe price is now trading below the $22,000 level and the 100 hourly simple moving average.
\nThere is a major bearish trend line forming with resistance near $21,950 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair might decline further if there is a clear move below the $20,800 level.<\/p>\n
![<\/a><\/p>\nSource: BTCUSD on TradingView.com<\/a><\/p>\nA close above the $22,000 resistance zone could set the pace for more gains. In the stated case, the price may perhaps rise towards the $22,500 level. The next major resistance sits near the $23,000 level.<\/p>\nMore Losses in BTC?<\/p>\nIf bitcoin fails to start a recovery wave above the $21,650 level, it could continue to move down. An immediate support on the downside is near the $21,000 level.<\/p>\nThe next major support now sits near the $20,500 level. A clear break and close below the $20,500 support zone might send the price towards $20,000 in the near term.<\/p>\nTechnical indicators:<\/p>\nHourly MACD \u2013 The MACD is now gaining pace in the bearish zone.<\/p>\nHourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is well below the 50 level.<\/p>\nMajor Support Levels \u2013 $21,000, followed by $20,500.<\/p>\nMajor Resistance Levels \u2013 $21,650, $22,000 and $22,500.<\/p>","protected":false},"excerpt":{"rendered":"<\/p>\nBitcoin started a fresh decline below the $22,000 support against the US Dollar. BTC is declining and might extend losses below the $20,500 support zone.<\/p>\nBitcoin started a fresh decline and traded below the $22,000 level.\nThe price is now trading below the $22,000 level and the 100 hourly simple moving average.\nThere is a major bearish trend line forming with resistance near $21,950 on the hourly chart of the BTC\/USD pair (data feed from Kraken).\nThe pair might decline further if there is a clear move below the $20,800 level.<\/p>\nBitcoin Price Gains Bearish Momentum<\/p>\nBitcoin price started a fresh decline<\/a> after it failed to clear the $24,000 resistance zone. There was a steady decline below the $23,500 and $23,000 levels.<\/p>\nThe bears gained strength for a move below the $22,500 support level and the 100 hourly simple moving average<\/a>. Finally, the price traded below the $21,500 support level and even spiked below $21,000. A low is formed near $20,994 and the price is now consolidating losses.<\/p>\nOn the upside, bitcoin price could face resistance near the $21,650 level. It is near the 50% Fib retracement level of the recent decline from the $22,250 swing high to $20,994 low.<\/p>\nThe next key resistance is near the $22,000 zone. There is also a major bearish trend line forming with resistance near $21,950 on the hourly chart of the BTC\/USD pair. The trend line is near the 76.4% Fib retracement level of the recent decline from the $22,250 swing high to $20,994 low.<\/p>\n<\/a><\/p>\nSource: BTCUSD on TradingView.com<\/a><\/p>\nA close above the $22,000 resistance zone could set the pace for more gains. In the stated case, the price may perhaps rise towards the $22,500 level. The next major resistance sits near the $23,000 level.<\/p>\nMore Losses in BTC?<\/p>\nIf bitcoin fails to start a recovery wave above the $21,650 level, it could continue to move down. An immediate support on the downside is near the $21,000 level.<\/p>\nThe next major support now sits near the $20,500 level. A clear break and close below the $20,500 support zone might send the price towards $20,000 in the near term.<\/p>\nTechnical indicators:<\/p>\nHourly MACD \u2013 The MACD is now gaining pace in the bearish zone.<\/p>\nHourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is well below the 50 level.<\/p>\nMajor Support Levels \u2013 $21,000, followed by $20,500.<\/p>\nMajor Resistance Levels \u2013 $21,650, $22,000 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-4126","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\/4126","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=4126"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/4126\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=4126"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=4126"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=4126"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/07\/Bitcoin-19.png\"){kind=link}