Bitcoin extended losses below the $21,000 support against the US Dollar. BTC is consolidating and any upsides might face hurdles near $21,500.<\/p>\n
Bitcoin remained in a bearish zone and traded below the $21,000 level.
\nThe price is now trading below the $21,500 level and the 100 hourly simple moving average.
\nThere is a key bearish trend line forming with resistance near $21,650 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair might correct higher but upsides might be limited above $21,500.<\/p>\n
Bitcoin Price Remains In A Bearish Zone<\/p>\n
Bitcoin price remained in a bearish zone after it settled below the $22,000 support zone. It consolidated near the $21,000 zone for some time before there were more losses.<\/p>\n
The price declined below the $21,000 level but downsides were limited. A low is formed near $20,750 and the price is now consolidating losses. It is now trading below the $21,500 level and the 100 hourly simple moving average.<\/p>\n
There was a minor upside above the $21,000 level. The price cleared the 23.6% Fib retracement level of the recent drop from the $22,250 swing high to $20,750 low.<\/p>\n
On the upside, bitcoin price could face resistance near the $21,500 level. It is near the 50% Fib retracement level of the recent drop from the $22,250 swing high to $20,750 low. The next key resistance is near the $21,650 zone. There is also a key bearish trend line forming with resistance near $21,650 on the hourly chart of the BTC\/USD pair.<\/p>\n\n
Source: BTCUSD on TradingView.com<\/p>\n
A close above the $21,650 resistance zone could set the pace for a decent increase. In the stated case, the price may perhaps rise towards the $22,000 level. The next major resistance sits near the $22,500 level.<\/p>\n
More Losses in BTC?<\/p>\n
If bitcoin fails to start a recovery wave above the $21,500 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 $20,750 and $20,500 levels. A close below the $20,500 support zone might increase selling pressure and the price might test $20,000 in the near term.<\/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 near the 50 level.<\/p>\n
Major Support Levels \u2013 $21,000, followed by $20,750.<\/p>\n
Major Resistance Levels \u2013 $21,500, $21,650 and $22,000.<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
Bitcoin extended losses below the $21,000 support against the US Dollar. BTC is consolidating and any upsides might face hurdles near $21,500.<\/p>\n
Bitcoin remained in a bearish zone and traded below the $21,000 level.
\nThe price is now trading below the $21,500 level and the 100 hourly simple moving average.
\nThere is a key bearish trend line forming with resistance near $21,650 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair might correct higher but upsides might be limited above $21,500.<\/p>\n
Bitcoin Price Remains In A Bearish Zone<\/p>\n
Bitcoin price remained in a bearish zone after it settled below the $22,000 support zone. It consolidated near the $21,000 zone for some time before there were more losses.<\/p>\n
The price declined below the $21,000 level but downsides were limited. A low is formed near $20,750 and the price is now consolidating losses. It is now trading below the $21,500 level and the 100 hourly simple moving average.<\/p>\n
There was a minor upside above the $21,000 level. The price cleared the 23.6% Fib retracement level of the recent drop from the $22,250 swing high to $20,750 low.<\/p>\n
On the upside, bitcoin price could face resistance near the $21,500 level. It is near the 50% Fib retracement level of the recent drop from the $22,250 swing high to $20,750 low. The next key resistance is near the $21,650 zone. There is also a key bearish trend line forming with resistance near $21,650 on the hourly chart of the BTC\/USD pair.<\/p>\n
Source: BTCUSD on TradingView.com<\/p>\n
A close above the $21,650 resistance zone could set the pace for a decent increase. In the stated case, the price may perhaps rise towards the $22,000 level. The next major resistance sits near the $22,500 level.<\/p>\n
More Losses in BTC?<\/p>\n
If bitcoin fails to start a recovery wave above the $21,500 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 $20,750 and $20,500 levels. A close below the $20,500 support zone might increase selling pressure and the price might test $20,000 in the near term.<\/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 near the 50 level.<\/p>\n
Major Support Levels \u2013 $21,000, followed by $20,750.<\/p>\n
Major Resistance Levels \u2013 $21,500, $21,650 and $22,000.<\/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-4231","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\/4231","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=4231"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/4231\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=4231"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=4231"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=4231"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}