Bitcoin started an upside correction above $19,000 against the US Dollar. BTC is now struggling to clear the $19,400 and $19,500 resistance levels.<\/p>\n
Bitcoin traded as low as $18,550 and started an upside correction.
\nThe price is now trading below the $19,500 level and the 100 hourly simple moving average.
\nThere is a major bearish trend line forming with resistance near $19,310 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair might start another drop unless there is a clear move above the $19,500 resistance.<\/p>\n
Bitcoin Price Faces Resistance<\/p>\n
Bitcoin price started a major decline below the key $19,500 support zone<\/a>. BTC gained pace for a move below the $19,000 level and the 100 hourly simple moving average.<\/p>\n The price even traded below the $19,000 level and tested $18,500. A low was formed near $18,550 and the price recently started an upside correction. There was a move above the $19,000 resistance zone. The bulls pushed the price above the 23.6% Fib retracement level of the key drop from the $20,172 swing high to $18,550 low.<\/p>\n However, the bears remained active near the $19,500 resistance zone. There is also a major bearish trend line forming with resistance near $19,310 on the hourly chart of the BTC\/USD pair.<\/p>\n Bitcoin faced rejection near the 50% Fib retracement level of the key drop from the $20,172 swing high to $18,550 low. It is now trading below the $19,500 level and the 100 hourly simple moving average<\/a>. On the upside, an immediate resistance is near the $19,300 level.<\/p>\n <\/a><\/p>\n Source: BTCUSD on TradingView.com<\/a><\/p>\n The next major resistance sits near the $19,500 level. A clear move above the $19,500 resistance might start a steady increase to $20,000. Any more gains might send the price towards the $20,500 resistance zone.<\/p>\n Fresh Decline in BTC?<\/p>\n If bitcoin fails to start a recovery wave above the $19,500 zone, it could continue to move down. An immediate support on the downside is near the $19,000 zone.<\/p>\n The next major support sits near the $18,550 level. A downside break below the $18,550 support might spark more downsides. In the stated case, the price could drop towards the $18,000 support.<\/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 $19,000, followed by $18,550.<\/p>\n Major Resistance Levels \u2013 $19,300, $19,500 and $20,000.<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Bitcoin started an upside correction above $19,000 against the US Dollar. BTC is now struggling to clear the $19,400 and $19,500 resistance levels.<\/p>\n Bitcoin traded as low as $18,550 and started an upside correction. Bitcoin Price Faces Resistance<\/p>\n Bitcoin price started a major decline below the key $19,500 support zone<\/a>. BTC gained pace for a move below the $19,000 level and the 100 hourly simple moving average.<\/p>\n The price even traded below the $19,000 level and tested $18,500. A low was formed near $18,550 and the price recently started an upside correction. There was a move above the $19,000 resistance zone. The bulls pushed the price above the 23.6% Fib retracement level of the key drop from the $20,172 swing high to $18,550 low.<\/p>\n However, the bears remained active near the $19,500 resistance zone. There is also a major bearish trend line forming with resistance near $19,310 on the hourly chart of the BTC\/USD pair.<\/p>\n Bitcoin faced rejection near the 50% Fib retracement level of the key drop from the $20,172 swing high to $18,550 low. It is now trading below the $19,500 level and the 100 hourly simple moving average<\/a>. On the upside, an immediate resistance is near the $19,300 level.<\/p>\n
\nThe price is now trading below the $19,500 level and the 100 hourly simple moving average.
\nThere is a major bearish trend line forming with resistance near $19,310 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair might start another drop unless there is a clear move above the $19,500 resistance.<\/p>\n
![<\/a><\/p>\nSource: BTCUSD on TradingView.com<\/a><\/p>\nThe next major resistance sits near the $19,500 level. A clear move above the $19,500 resistance might start a steady increase to $20,000. Any more gains might send the price towards the $20,500 resistance zone.<\/p>\nFresh Decline in BTC?<\/p>\nIf bitcoin fails to start a recovery wave above the $19,500 zone, it could continue to move down. An immediate support on the downside is near the $19,000 zone.<\/p>\nThe next major support sits near the $18,550 level. A downside break below the $18,550 support might spark more downsides. In the stated case, the price could drop towards the $18,000 support.<\/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 $19,000, followed by $18,550.<\/p>\nMajor Resistance Levels \u2013 $19,300, $19,500 and $20,000.<\/p>","protected":false},"excerpt":{"rendered":"<\/p>\nBitcoin started an upside correction above $19,000 against the US Dollar. BTC is now struggling to clear the $19,400 and $19,500 resistance levels.<\/p>\nBitcoin traded as low as $18,550 and started an upside correction.\nThe price is now trading below the $19,500 level and the 100 hourly simple moving average.\nThere is a major bearish trend line forming with resistance near $19,310 on the hourly chart of the BTC\/USD pair (data feed from Kraken).\nThe pair might start another drop unless there is a clear move above the $19,500 resistance.<\/p>\nBitcoin Price Faces Resistance<\/p>\nBitcoin price started a major decline below the key $19,500 support zone<\/a>. BTC gained pace for a move below the $19,000 level and the 100 hourly simple moving average.<\/p>\nThe price even traded below the $19,000 level and tested $18,500. A low was formed near $18,550 and the price recently started an upside correction. There was a move above the $19,000 resistance zone. The bulls pushed the price above the 23.6% Fib retracement level of the key drop from the $20,172 swing high to $18,550 low.<\/p>\nHowever, the bears remained active near the $19,500 resistance zone. There is also a major bearish trend line forming with resistance near $19,310 on the hourly chart of the BTC\/USD pair.<\/p>\nBitcoin faced rejection near the 50% Fib retracement level of the key drop from the $20,172 swing high to $18,550 low. It is now trading below the $19,500 level and the 100 hourly simple moving average<\/a>. On the upside, an immediate resistance is near the $19,300 level.<\/p>\n<\/a><\/p>\nSource: BTCUSD on TradingView.com<\/a><\/p>\nThe next major resistance sits near the $19,500 level. A clear move above the $19,500 resistance might start a steady increase to $20,000. Any more gains might send the price towards the $20,500 resistance zone.<\/p>\nFresh Decline in BTC?<\/p>\nIf bitcoin fails to start a recovery wave above the $19,500 zone, it could continue to move down. An immediate support on the downside is near the $19,000 zone.<\/p>\nThe next major support sits near the $18,550 level. A downside break below the $18,550 support might spark more downsides. In the stated case, the price could drop towards the $18,000 support.<\/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 $19,000, followed by $18,550.<\/p>\nMajor Resistance Levels \u2013 $19,300, $19,500 and $20,000.<\/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-7187","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\/7187","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=7187"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/7187\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=7187"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=7187"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=7187"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Bitcoin-8.png\"){kind=link}