Bitcoin broke the key $19,500 support against the US Dollar. BTC is showing bearish signs and remains at a risk of a move towards the $18,000 level.<\/p>\n
Bitcoin failed to start a fresh increase and declined below the $19,500 support.
\nThe price is now trading below the $19,000 level and the 100 hourly simple moving average.
\nThere is a connecting bearish trend line forming with resistance near $19,420 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could correct higher, but upsides might be limited above $19,500.<\/p>\n
Bitcoin Price Takes A Hit<\/p>\n
Bitcoin price failed to gain pace for a move above the $20,500 and $20,550 resistance levels<\/a>. There were many failed attempts, sparking a downside reaction below the key $19,500 support zone.<\/p>\n There was a sharp decline below the $19,500 support<\/a> and the 100 hourly simple moving average. The price declined below the $19,200 and $19,000 levels. A low is formed near $18,670 and the price is now consolidating losses.<\/p>\n It is now trading below the $19,000 level and the 100 hourly simple moving average. On the upside, an immediate resistance is near the $19,000 level. It is near the 23.6% Fib retracement level of the recent decline from the $20,171 swing high to $18,670 low.<\/p>\n The next major resistance sits near the $19,400 level. There is also a connecting bearish trend line forming with resistance near $19,420 on the hourly chart of the BTC\/USD pair.<\/p>\n <\/a><\/p>\n Source: BTCUSD on TradingView.com<\/a><\/p>\n The trend line is near the 50% Fib retracement level of the recent decline from the $20,171 swing high to $18,670 low. Any more gains might send the price towards the $19,800 resistance zone and the 100 hourly simple moving average.<\/p>\n More Losses in BTC?<\/p>\n If bitcoin fails to start a recovery wave above the $19,000 zone, it could continue to move down. An immediate support on the downside is near the $18,650 zone.<\/p>\n The next major support sits near the $18,500 level. A downside break below the $18,500 support might spark more downsides. In the stated case, the price may perhaps test the $18,000 support.<\/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 $18,650, followed by $18,500.<\/p>\n Major Resistance Levels \u2013 $19,000, $19,400 and $19,500.<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Bitcoin broke the key $19,500 support against the US Dollar. BTC is showing bearish signs and remains at a risk of a move towards the $18,000 level.<\/p>\n Bitcoin failed to start a fresh increase and declined below the $19,500 support. Bitcoin Price Takes A Hit<\/p>\n Bitcoin price failed to gain pace for a move above the $20,500 and $20,550 resistance levels<\/a>. There were many failed attempts, sparking a downside reaction below the key $19,500 support zone.<\/p>\n There was a sharp decline below the $19,500 support<\/a> and the 100 hourly simple moving average. The price declined below the $19,200 and $19,000 levels. A low is formed near $18,670 and the price is now consolidating losses.<\/p>\n It is now trading below the $19,000 level and the 100 hourly simple moving average. On the upside, an immediate resistance is near the $19,000 level. It is near the 23.6% Fib retracement level of the recent decline from the $20,171 swing high to $18,670 low.<\/p>\n The next major resistance sits near the $19,400 level. There is also a connecting bearish trend line forming with resistance near $19,420 on the hourly chart of the BTC\/USD pair.<\/p>\n
\nThe price is now trading below the $19,000 level and the 100 hourly simple moving average.
\nThere is a connecting bearish trend line forming with resistance near $19,420 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could correct higher, but upsides might be limited above $19,500.<\/p>\n
![<\/a><\/p>\nSource: BTCUSD on TradingView.com<\/a><\/p>\nThe trend line is near the 50% Fib retracement level of the recent decline from the $20,171 swing high to $18,670 low. Any more gains might send the price towards the $19,800 resistance zone and the 100 hourly simple moving average.<\/p>\nMore Losses in BTC?<\/p>\nIf bitcoin fails to start a recovery wave above the $19,000 zone, it could continue to move down. An immediate support on the downside is near the $18,650 zone.<\/p>\nThe next major support sits near the $18,500 level. A downside break below the $18,500 support might spark more downsides. In the stated case, the price may perhaps test the $18,000 support.<\/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 now below the 50 level.<\/p>\nMajor Support Levels \u2013 $18,650, followed by $18,500.<\/p>\nMajor Resistance Levels \u2013 $19,000, $19,400 and $19,500.<\/p>","protected":false},"excerpt":{"rendered":"<\/p>\nBitcoin broke the key $19,500 support against the US Dollar. BTC is showing bearish signs and remains at a risk of a move towards the $18,000 level.<\/p>\nBitcoin failed to start a fresh increase and declined below the $19,500 support.\nThe price is now trading below the $19,000 level and the 100 hourly simple moving average.\nThere is a connecting bearish trend line forming with resistance near $19,420 on the hourly chart of the BTC\/USD pair (data feed from Kraken).\nThe pair could correct higher, but upsides might be limited above $19,500.<\/p>\nBitcoin Price Takes A Hit<\/p>\nBitcoin price failed to gain pace for a move above the $20,500 and $20,550 resistance levels<\/a>. There were many failed attempts, sparking a downside reaction below the key $19,500 support zone.<\/p>\nThere was a sharp decline below the $19,500 support<\/a> and the 100 hourly simple moving average. The price declined below the $19,200 and $19,000 levels. A low is formed near $18,670 and the price is now consolidating losses.<\/p>\nIt is now trading below the $19,000 level and the 100 hourly simple moving average. On the upside, an immediate resistance is near the $19,000 level. It is near the 23.6% Fib retracement level of the recent decline from the $20,171 swing high to $18,670 low.<\/p>\nThe next major resistance sits near the $19,400 level. There is also a connecting bearish trend line forming with resistance near $19,420 on the hourly chart of the BTC\/USD pair.<\/p>\n<\/a><\/p>\nSource: BTCUSD on TradingView.com<\/a><\/p>\nThe trend line is near the 50% Fib retracement level of the recent decline from the $20,171 swing high to $18,670 low. Any more gains might send the price towards the $19,800 resistance zone and the 100 hourly simple moving average.<\/p>\nMore Losses in BTC?<\/p>\nIf bitcoin fails to start a recovery wave above the $19,000 zone, it could continue to move down. An immediate support on the downside is near the $18,650 zone.<\/p>\nThe next major support sits near the $18,500 level. A downside break below the $18,500 support might spark more downsides. In the stated case, the price may perhaps test the $18,000 support.<\/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 now below the 50 level.<\/p>\nMajor Support Levels \u2013 $18,650, followed by $18,500.<\/p>\nMajor Resistance Levels \u2013 $19,000, $19,400 and $19,500.<\/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-7101","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\/7101","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=7101"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/7101\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=7101"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=7101"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=7101"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Bitcoin-6.png\"){kind=link}