Bitcoin is struggling to settle above $20,500 against the US Dollar. BTC could decline heavily if there is a clear move below the $19,500 support zone.<\/p>\n
Bitcoin is stuck near the $20,000 zone and trading below the $20,500 resistance.
\nThe price is now trading below the $20,000 level and the 100 hourly simple moving average.
\nThere is a short-term rising channel forming with support near $19,750 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could accelerate lower if there is a clear move below the $19,600 and $19,500 levels.<\/p>\n
Bitcoin Price Remains in a Range<\/p>\n
Bitcoin price traded in a range below the $20,500 and $20,550 resistance levels<\/a>. BTC failed on many occasions to clear the $20,500 resistance zone.<\/p>\n At the same time, the bulls were active above the $19,500 support zone. The recent low was formed near $19,600 and the price is now moving higher in the range. There was a minor increase above the $19,750 resistance zone. The price climbed above the 23.6% Fib retracement level of the recent decline from the $20,397 swing high to $19,600 low.<\/p>\n Bitcoin price is now trading below the $20,000 level and the 100 hourly simple moving average<\/a>. There is also a short-term rising channel forming with support near $19,750 on the hourly chart of the BTC\/USD pair.<\/p>\n On the upside, an immediate resistance is near the $19,900 level and the 100 hourly simple moving average. The next major resistance sits near the $20,000 level. It is near the 50% Fib retracement level of the recent decline from the $20,397 swing high to $19,600 low.<\/p>\n <\/a><\/p>\n Source: BTCUSD on TradingView.com<\/a><\/p>\n A clear move above the $20,000 resistance might send the price towards $20,500. Any more gains might start a steady move towards the $21,200 resistance zone.<\/p>\n Downside Break in BTC?<\/p>\n If bitcoin fails to clear the $20,500 resistance zone, it could start another decline. An immediate support on the downside is near the $19,750 zone.<\/p>\n The next major support sits near the $19,600 level. The main support sits near the $19,500 level. A break below the $19,500 support might spark a sharp decline towards $18,800. Any more losses might call for a move to $18,500 in the near term.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is now losing pace in the bullish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n Major Support Levels \u2013 $19,750, followed by $19,500.<\/p>\n Major Resistance Levels \u2013 $20,000, $20,350 and $20,500.<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Bitcoin is struggling to settle above $20,500 against the US Dollar. BTC could decline heavily if there is a clear move below the $19,500 support zone.<\/p>\n Bitcoin is stuck near the $20,000 zone and trading below the $20,500 resistance. Bitcoin Price Remains in a Range<\/p>\n Bitcoin price traded in a range below the $20,500 and $20,550 resistance levels<\/a>. BTC failed on many occasions to clear the $20,500 resistance zone.<\/p>\n At the same time, the bulls were active above the $19,500 support zone. The recent low was formed near $19,600 and the price is now moving higher in the range. There was a minor increase above the $19,750 resistance zone. The price climbed above the 23.6% Fib retracement level of the recent decline from the $20,397 swing high to $19,600 low.<\/p>\n Bitcoin price is now trading below the $20,000 level and the 100 hourly simple moving average<\/a>. There is also a short-term rising channel forming with support near $19,750 on the hourly chart of the BTC\/USD pair.<\/p>\n On the upside, an immediate resistance is near the $19,900 level and the 100 hourly simple moving average. The next major resistance sits near the $20,000 level. It is near the 50% Fib retracement level of the recent decline from the $20,397 swing high to $19,600 low.<\/p>\n
\nThe price is now trading below the $20,000 level and the 100 hourly simple moving average.
\nThere is a short-term rising channel forming with support near $19,750 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could accelerate lower if there is a clear move below the $19,600 and $19,500 levels.<\/p>\n
![<\/a><\/p>\nSource: BTCUSD on TradingView.com<\/a><\/p>\nA clear move above the $20,000 resistance might send the price towards $20,500. Any more gains might start a steady move towards the $21,200 resistance zone.<\/p>\nDownside Break in BTC?<\/p>\nIf bitcoin fails to clear the $20,500 resistance zone, it could start another decline. An immediate support on the downside is near the $19,750 zone.<\/p>\nThe next major support sits near the $19,600 level. The main support sits near the $19,500 level. A break below the $19,500 support might spark a sharp decline towards $18,800. Any more losses might call for a move to $18,500 in the near term.<\/p>\nTechnical indicators:<\/p>\nHourly MACD \u2013 The MACD is now losing pace in the bullish zone.<\/p>\nHourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\nMajor Support Levels \u2013 $19,750, followed by $19,500.<\/p>\nMajor Resistance Levels \u2013 $20,000, $20,350 and $20,500.<\/p>","protected":false},"excerpt":{"rendered":"<\/p>\nBitcoin is struggling to settle above $20,500 against the US Dollar. BTC could decline heavily if there is a clear move below the $19,500 support zone.<\/p>\nBitcoin is stuck near the $20,000 zone and trading below the $20,500 resistance.\nThe price is now trading below the $20,000 level and the 100 hourly simple moving average.\nThere is a short-term rising channel forming with support near $19,750 on the hourly chart of the BTC\/USD pair (data feed from Kraken).\nThe pair could accelerate lower if there is a clear move below the $19,600 and $19,500 levels.<\/p>\nBitcoin Price Remains in a Range<\/p>\nBitcoin price traded in a range below the $20,500 and $20,550 resistance levels<\/a>. BTC failed on many occasions to clear the $20,500 resistance zone.<\/p>\nAt the same time, the bulls were active above the $19,500 support zone. The recent low was formed near $19,600 and the price is now moving higher in the range. There was a minor increase above the $19,750 resistance zone. The price climbed above the 23.6% Fib retracement level of the recent decline from the $20,397 swing high to $19,600 low.<\/p>\nBitcoin price is now trading below the $20,000 level and the 100 hourly simple moving average<\/a>. There is also a short-term rising channel forming with support near $19,750 on the hourly chart of the BTC\/USD pair.<\/p>\nOn the upside, an immediate resistance is near the $19,900 level and the 100 hourly simple moving average. The next major resistance sits near the $20,000 level. It is near the 50% Fib retracement level of the recent decline from the $20,397 swing high to $19,600 low.<\/p>\n<\/a><\/p>\nSource: BTCUSD on TradingView.com<\/a><\/p>\nA clear move above the $20,000 resistance might send the price towards $20,500. Any more gains might start a steady move towards the $21,200 resistance zone.<\/p>\nDownside Break in BTC?<\/p>\nIf bitcoin fails to clear the $20,500 resistance zone, it could start another decline. An immediate support on the downside is near the $19,750 zone.<\/p>\nThe next major support sits near the $19,600 level. The main support sits near the $19,500 level. A break below the $19,500 support might spark a sharp decline towards $18,800. Any more losses might call for a move to $18,500 in the near term.<\/p>\nTechnical indicators:<\/p>\nHourly MACD \u2013 The MACD is now losing pace in the bullish zone.<\/p>\nHourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\nMajor Support Levels \u2013 $19,750, followed by $19,500.<\/p>\nMajor Resistance Levels \u2013 $20,000, $20,350 and $20,500.<\/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-6954","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\/6954","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=6954"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/6954\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=6954"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=6954"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=6954"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Bitcoin-3.png\"){kind=link}