Bitcoin price over the last 24 hours moved south on its four-hour chart. Very recently Bitcoin had rose above the $20,000 price mark but the bears failed to hold the asset at that price mark.<\/p>\n
In the last 24 hours, the coin was mostly consolidating on its chart.<\/p>\n
In the past week, BTC fell by 9%. There was substantial demand in the lower levels. The less demand in return was pulling the price of the crypto below the immediate resistance mark.<\/p>\n
The technical outlook for the coin was bearish given how sellers were active in the market at the time of writing.<\/p>\n
If buyers don\u2019t return to the market, Bitcoin price will trade near its closest price level. It will aim for a support level underneath that.<\/p>\n
It is important that the coin moves above the $20,000 price level in the next trading sessions else it would fall below the $18,000 price level.<\/p>\n
The global cryptocurrency market cap today is $996 Billion, with a 2.7% negative\u00a0change in the last 24 hours.<\/p>\n
Bitcoin Price Analysis: Four-Hour Chart BTC was trading for $20,600 at the time of writing. For the most part in the last 24 hours, the coin was struggling below the $20,000 price mark.<\/p>\n The coin is still quite unstable at the moment, it is to be seen how long the Bitcoin price will remain above that price mark.<\/p>\n The next stop for BTC if it doesn\u2019t trade near the next resistance level will be at $18,000. Overhead resistance for the coin stood at $21,100.<\/p>\n If the coin travels above that then the next attempt would be to touch $22,000. On the flip side, if BTC was unable to remain above the $18,000 mark, $17,000 doesn\u2019t seem unlikely.<\/p>\n Technical Analysis BTC had depicted increased sell strength as prices fell. This indicated that there was a demand at lower price levels.<\/p>\n The technical indicators also displayed increased bearish momentum. The Relative Strength Index was below the half-line which meant sellers were more than buyers in the market.<\/p>\n Bitcoin price was below the 20-SMA line, this reading is an indication that sellers were driving the price momentum in the market.<\/p>\n Bitcoin portrayed fall in capital inflows on the four-hour chart | Source: BTCUSD on TradingView<\/a><\/p>\n The coin\u2019s other technical indicators also indicated that the buying strength was picking up on the four-hour chart.<\/p>\n Moving Average Convergence Divergence indicated the momentum and change in the coin\u2019s price trend.<\/p>\n MACD was still positive with green histograms on the half-line which pointed towards a buy signal. Chaikin Money Flow signals capital inflows and outflows.<\/p>\n CMF was peeking above the half-line suggesting that capital inflows just exceeded the capital outflows.<\/p>\n Featured image from UnSplash, Charts from TradingView.com<\/a><\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Bitcoin price over the last 24 hours moved south on its four-hour chart. Very recently Bitcoin had rose above the $20,000 price mark but the bears failed to hold the asset at that price mark.<\/p>\n In the last 24 hours, the coin was mostly consolidating on its chart.<\/p>\n In the past week, BTC fell by 9%. There was substantial demand in the lower levels. The less demand in return was pulling the price of the crypto below the immediate resistance mark.<\/p>\n The technical outlook for the coin was bearish given how sellers were active in the market at the time of writing.<\/p>\n If buyers don\u2019t return to the market, Bitcoin price will trade near its closest price level. It will aim for a support level underneath that.<\/p>\n It is important that the coin moves above the $20,000 price level in the next trading sessions else it would fall below the $18,000 price level.<\/p>\n The global cryptocurrency market cap today is $996 Billion, with a 2.7% negative\u00a0change in the last 24 hours.<\/p>\n Bitcoin Price Analysis: Four-Hour Chart BTC was trading for $20,600 at the time of writing. For the most part in the last 24 hours, the coin was struggling below the $20,000 price mark.<\/p>\n The coin is still quite unstable at the moment, it is to be seen how long the Bitcoin price will remain above that price mark.<\/p>\n The next stop for BTC if it doesn\u2019t trade near the next resistance level will be at $18,000. Overhead resistance for the coin stood at $21,100.<\/p>\n If the coin travels above that then the next attempt would be to touch $22,000. On the flip side, if BTC was unable to remain above the $18,000 mark, $17,000 doesn\u2019t seem unlikely.<\/p>\n Technical Analysis BTC had depicted increased sell strength as prices fell. This indicated that there was a demand at lower price levels.<\/p>\n The technical indicators also displayed increased bearish momentum. The Relative Strength Index was below the half-line which meant sellers were more than buyers in the market.<\/p>\n Bitcoin price was below the 20-SMA line, this reading is an indication that sellers were driving the price momentum in the market.<\/p>\n Bitcoin portrayed fall in capital inflows on the four-hour chart | Source: BTCUSD on TradingView<\/a><\/p>\n The coin\u2019s other technical indicators also indicated that the buying strength was picking up on the four-hour chart.<\/p>\n Moving Average Convergence Divergence indicated the momentum and change in the coin\u2019s price trend.<\/p>\n MACD was still positive with green histograms on the half-line which pointed towards a buy signal. Chaikin Money Flow signals capital inflows and outflows.<\/p>\n CMF was peeking above the half-line suggesting that capital inflows just exceeded the capital outflows.<\/p>\n
\nBitcoin was priced at $20,600 on the four-hour chart | Source: BTCUSD on TradingView<\/a><\/p>\n
\nBitcoin registered fall in buying strength on the four-hour chart | Source: BTCUSD on TradingView<\/a><\/p>\n
\nBitcoin was priced at $20,600 on the four-hour chart | Source: BTCUSD on TradingView<\/a><\/p>\n
\nBitcoin registered fall in buying strength on the four-hour chart | Source: BTCUSD on TradingView<\/a><\/p>\n