Bitcoin started a sharp downside correction below the $22,000 level against the US Dollar. BTC must stay above the $20,000 support to avoid more losses.<\/p>\n
Bitcoin failed to clear $22,750 and started a sharp downward move.
\nThe price is now trading below $21,000 and the 100 hourly simple moving average.
\nThere was a break below a key bullish trend line with support near $21,810 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair is consolidating above the $20,000 level, with a minor bullish angle.<\/p>\n
Bitcoin Price Dives To $20K<\/p>\n
Bitcoin price attempted to gain strength above the $22,000 and $22,500 resistance levels<\/a>. The price even spiked above the $22,750 resistance zone and the 100 hourly simple moving average.<\/p>\n However, the price failed to gain strength and topped near the $22,768 level. As a result, there was a bearish wave below the $22,000 and $21,500 levels. There was also a move below the $21,000 level and the 100 hourly simple moving average<\/a>.<\/p>\n Besides, there was a break below a key bullish trend line with support near $21,810 on the hourly chart of the BTC\/USD pair. Bitcoin price even tested the $20,000 zone. A low is formed near $19,921 and the price is now consolidating losses.<\/p>\n On the upside, an immediate resistance is near the $20,600 level. It is near the 23.6% Fib retracement level of the recent decline from the $22,768 swing high to $19,921 low.<\/p>\n <\/a><\/p>\n Source: BTCUSD on TradingView.com<\/a><\/p>\n The next major resistance sits near the $21,350 level. It coincides with the 50% Fib retracement level of the recent decline from the $22,768 swing high to $19,921 low. A close above the $21,350 resistance might start a fresh surge. In the stated case, the price may perhaps rise towards $22,000. Any more gains might send the price towards the $22,500 resistance zone.<\/p>\n More Losses in BTC?<\/p>\n If bitcoin fails to clear the $21,350 resistance zone, it could continue to move down. An immediate support on the downside is near the $22,000 zone.<\/p>\n The next major support is near the $19,500 and $19,400 levels. A downside break below the $19,400 level might send the price towards the $18,500 support.<\/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 recovering from the oversold levels.<\/p>\n Major Support Levels \u2013 $20,000, followed by $19,400.<\/p>\n Major Resistance Levels \u2013 $20,600, $21,000 and $21,350.<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Bitcoin started a sharp downside correction below the $22,000 level against the US Dollar. BTC must stay above the $20,000 support to avoid more losses.<\/p>\n Bitcoin failed to clear $22,750 and started a sharp downward move. Bitcoin Price Dives To $20K<\/p>\n Bitcoin price attempted to gain strength above the $22,000 and $22,500 resistance levels<\/a>. The price even spiked above the $22,750 resistance zone and the 100 hourly simple moving average.<\/p>\n However, the price failed to gain strength and topped near the $22,768 level. As a result, there was a bearish wave below the $22,000 and $21,500 levels. There was also a move below the $21,000 level and the 100 hourly simple moving average<\/a>.<\/p>\n Besides, there was a break below a key bullish trend line with support near $21,810 on the hourly chart of the BTC\/USD pair. Bitcoin price even tested the $20,000 zone. A low is formed near $19,921 and the price is now consolidating losses.<\/p>\n On the upside, an immediate resistance is near the $20,600 level. It is near the 23.6% Fib retracement level of the recent decline from the $22,768 swing high to $19,921 low.<\/p>\n
\nThe price is now trading below $21,000 and the 100 hourly simple moving average.
\nThere was a break below a key bullish trend line with support near $21,810 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair is consolidating above the $20,000 level, with a minor bullish angle.<\/p>\n
![<\/a><\/p>\nSource: BTCUSD on TradingView.com<\/a><\/p>\nThe next major resistance sits near the $21,350 level. It coincides with the 50% Fib retracement level of the recent decline from the $22,768 swing high to $19,921 low. A close above the $21,350 resistance might start a fresh surge. In the stated case, the price may perhaps rise towards $22,000. Any more gains might send the price towards the $22,500 resistance zone.<\/p>\nMore Losses in BTC?<\/p>\nIf bitcoin fails to clear the $21,350 resistance zone, it could continue to move down. An immediate support on the downside is near the $22,000 zone.<\/p>\nThe next major support is near the $19,500 and $19,400 levels. A downside break below the $19,400 level might send the price towards the $18,500 support.<\/p>\nTechnical indicators:<\/p>\nHourly MACD \u2013 The MACD is now losing pace in the bearish zone.<\/p>\nHourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now recovering from the oversold levels.<\/p>\nMajor Support Levels \u2013 $20,000, followed by $19,400.<\/p>\nMajor Resistance Levels \u2013 $20,600, $21,000 and $21,350.<\/p>","protected":false},"excerpt":{"rendered":"<\/p>\nBitcoin started a sharp downside correction below the $22,000 level against the US Dollar. BTC must stay above the $20,000 support to avoid more losses.<\/p>\nBitcoin failed to clear $22,750 and started a sharp downward move.\nThe price is now trading below $21,000 and the 100 hourly simple moving average.\nThere was a break below a key bullish trend line with support near $21,810 on the hourly chart of the BTC\/USD pair (data feed from Kraken).\nThe pair is consolidating above the $20,000 level, with a minor bullish angle.<\/p>\nBitcoin Price Dives To $20K<\/p>\nBitcoin price attempted to gain strength above the $22,000 and $22,500 resistance levels<\/a>. The price even spiked above the $22,750 resistance zone and the 100 hourly simple moving average.<\/p>\nHowever, the price failed to gain strength and topped near the $22,768 level. As a result, there was a bearish wave below the $22,000 and $21,500 levels. There was also a move below the $21,000 level and the 100 hourly simple moving average<\/a>.<\/p>\nBesides, there was a break below a key bullish trend line with support near $21,810 on the hourly chart of the BTC\/USD pair. Bitcoin price even tested the $20,000 zone. A low is formed near $19,921 and the price is now consolidating losses.<\/p>\nOn the upside, an immediate resistance is near the $20,600 level. It is near the 23.6% Fib retracement level of the recent decline from the $22,768 swing high to $19,921 low.<\/p>\n<\/a><\/p>\nSource: BTCUSD on TradingView.com<\/a><\/p>\nThe next major resistance sits near the $21,350 level. It coincides with the 50% Fib retracement level of the recent decline from the $22,768 swing high to $19,921 low. A close above the $21,350 resistance might start a fresh surge. In the stated case, the price may perhaps rise towards $22,000. Any more gains might send the price towards the $22,500 resistance zone.<\/p>\nMore Losses in BTC?<\/p>\nIf bitcoin fails to clear the $21,350 resistance zone, it could continue to move down. An immediate support on the downside is near the $22,000 zone.<\/p>\nThe next major support is near the $19,500 and $19,400 levels. A downside break below the $19,400 level might send the price towards the $18,500 support.<\/p>\nTechnical indicators:<\/p>\nHourly MACD \u2013 The MACD is now losing pace in the bearish zone.<\/p>\nHourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now recovering from the oversold levels.<\/p>\nMajor Support Levels \u2013 $20,000, followed by $19,400.<\/p>\nMajor Resistance Levels \u2013 $20,600, $21,000 and $21,350.<\/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-7613","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\/7613","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=7613"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/7613\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=7613"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=7613"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=7613"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Bitcoin-16.png\"){kind=link}