Bitcoin settled below the $21,000 support zone against the US Dollar. BTC is showing bearish signs and remains at a risk of a major breakdown below $20,000.<\/p>\n
Bitcoin struggled to correct higher and stayed below the $21,000 resistance zone.
\nThe price is now trading below $20,750 and the 100 hourly simple moving average.
\nThere is a key bearish trend line forming with resistance near $20,250 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair is consolidating above the $20,000 level and might start another decline.<\/p>\n
Bitcoin Price Faces Sellers<\/p>\n
Bitcoin price remained in a bearish zone below the $21,000 level. There was a short-term recovery wave<\/a>, but the bears were active near the $20,300 and $20,350 levels.<\/p>\n The price started a fresh decline and traded below the $20,000 level. It even broke the recent swing low and traded to a new weekly low at $19,619. The price is now trading below $20,750 and the 100 hourly simple moving average<\/a>.<\/p>\n There is also a key bearish trend line forming with resistance near $20,250 on the hourly chart of the BTC\/USD pair. On the upside, an immediate resistance is near the $20,300 level. It is near the 23.6% Fib retracement level of the key drop from the $22,790 swing high to $19,619 low.<\/p>\n A clear move above the trend line and $20,300 might send the price towards the $20,750 resistance. The next major resistance sits near the $21,200 level. It coincides with the 50% Fib retracement level of the key drop from the $22,790 swing high to $19,619 low.<\/p>\n <\/a><\/p>\n Source: BTCUSD on TradingView.com<\/a><\/p>\n A close above the $21,200 resistance might start a fresh increase. In the stated case, the price may perhaps rise towards $22,000. Any more gains might send the price towards the $22,450 resistance zone.<\/p>\n More Losses in BTC?<\/p>\n If bitcoin fails to clear the $20,300 resistance zone, it could continue to move down. An immediate support on the downside is near the $20,000 zone.<\/p>\n The next major support is near the $19,600 and $19,500 levels. A downside break below the $19,500 level might send the price towards the $18,500 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 $20,000, followed by $19,500.<\/p>\n Major Resistance Levels \u2013 $20,300, $20,750 and $21,200.<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Bitcoin settled below the $21,000 support zone against the US Dollar. BTC is showing bearish signs and remains at a risk of a major breakdown below $20,000.<\/p>\n Bitcoin struggled to correct higher and stayed below the $21,000 resistance zone. Bitcoin Price Faces Sellers<\/p>\n Bitcoin price remained in a bearish zone below the $21,000 level. There was a short-term recovery wave<\/a>, but the bears were active near the $20,300 and $20,350 levels.<\/p>\n The price started a fresh decline and traded below the $20,000 level. It even broke the recent swing low and traded to a new weekly low at $19,619. The price is now trading below $20,750 and the 100 hourly simple moving average<\/a>.<\/p>\n There is also a key bearish trend line forming with resistance near $20,250 on the hourly chart of the BTC\/USD pair. On the upside, an immediate resistance is near the $20,300 level. It is near the 23.6% Fib retracement level of the key drop from the $22,790 swing high to $19,619 low.<\/p>\n A clear move above the trend line and $20,300 might send the price towards the $20,750 resistance. The next major resistance sits near the $21,200 level. It coincides with the 50% Fib retracement level of the key drop from the $22,790 swing high to $19,619 low.<\/p>\n
\nThe price is now trading below $20,750 and the 100 hourly simple moving average.
\nThere is a key bearish trend line forming with resistance near $20,250 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair is consolidating above the $20,000 level and might start another decline.<\/p>\n
![<\/a><\/p>\nSource: BTCUSD on TradingView.com<\/a><\/p>\nA close above the $21,200 resistance might start a fresh increase. In the stated case, the price may perhaps rise towards $22,000. Any more gains might send the price towards the $22,450 resistance zone.<\/p>\nMore Losses in BTC?<\/p>\nIf bitcoin fails to clear the $20,300 resistance zone, it could continue to move down. An immediate support on the downside is near the $20,000 zone.<\/p>\nThe next major support is near the $19,600 and $19,500 levels. A downside break below the $19,500 level might send the price towards the $18,500 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 $20,000, followed by $19,500.<\/p>\nMajor Resistance Levels \u2013 $20,300, $20,750 and $21,200.<\/p>","protected":false},"excerpt":{"rendered":"<\/p>\nBitcoin settled below the $21,000 support zone against the US Dollar. BTC is showing bearish signs and remains at a risk of a major breakdown below $20,000.<\/p>\nBitcoin struggled to correct higher and stayed below the $21,000 resistance zone.\nThe price is now trading below $20,750 and the 100 hourly simple moving average.\nThere is a key bearish trend line forming with resistance near $20,250 on the hourly chart of the BTC\/USD pair (data feed from Kraken).\nThe pair is consolidating above the $20,000 level and might start another decline.<\/p>\nBitcoin Price Faces Sellers<\/p>\nBitcoin price remained in a bearish zone below the $21,000 level. There was a short-term recovery wave<\/a>, but the bears were active near the $20,300 and $20,350 levels.<\/p>\nThe price started a fresh decline and traded below the $20,000 level. It even broke the recent swing low and traded to a new weekly low at $19,619. The price is now trading below $20,750 and the 100 hourly simple moving average<\/a>.<\/p>\nThere is also a key bearish trend line forming with resistance near $20,250 on the hourly chart of the BTC\/USD pair. On the upside, an immediate resistance is near the $20,300 level. It is near the 23.6% Fib retracement level of the key drop from the $22,790 swing high to $19,619 low.<\/p>\nA clear move above the trend line and $20,300 might send the price towards the $20,750 resistance. The next major resistance sits near the $21,200 level. It coincides with the 50% Fib retracement level of the key drop from the $22,790 swing high to $19,619 low.<\/p>\n<\/a><\/p>\nSource: BTCUSD on TradingView.com<\/a><\/p>\nA close above the $21,200 resistance might start a fresh increase. In the stated case, the price may perhaps rise towards $22,000. Any more gains might send the price towards the $22,450 resistance zone.<\/p>\nMore Losses in BTC?<\/p>\nIf bitcoin fails to clear the $20,300 resistance zone, it could continue to move down. An immediate support on the downside is near the $20,000 zone.<\/p>\nThe next major support is near the $19,600 and $19,500 levels. A downside break below the $19,500 level might send the price towards the $18,500 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 $20,000, followed by $19,500.<\/p>\nMajor Resistance Levels \u2013 $20,300, $20,750 and $21,200.<\/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-7708","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\/7708","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=7708"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/7708\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=7708"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=7708"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=7708"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Bitcoin-17.png\"){kind=link}