Bitcoin is showing bearish signs below the $20,000 support zone against the US Dollar. BTC could accelerate further lower below the $19,500 support zone.<\/p>\n
Bitcoin started a fresh decline and traded below the $20,000 support.
\nThe price is now trading below $20,200 and the 100 hourly simple moving average.
\nThere is a major bearish trend line forming with resistance near $20,050 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a substantial decline if it breaks the $19,500 support zone.<\/p>\n
Bitcoin Price Remains At Risk<\/p>\n
Bitcoin price attempted a recovery wave above the $20,300 resistance level<\/a>. However, there was no upside break and the price remained in a bearish zone below $20,500.<\/p>\n Recently, Ethereum saw a major bearish reaction below the $1,500 support. As a result, BTC also moved a few points lower and declined below the $20,000 support. It even traded below the $19,600 and tested the $19,500 support zone.<\/p>\n A low is formed near $19,509 and the price is now consolidating losses. Bitcoin price is now trading below $20,200 and the 100 hourly simple moving average.<\/p>\n On the upside, an immediate resistance is near the $20,000 level. There is also a major bearish trend line forming with resistance near $20,050 on the hourly chart of the BTC\/USD pair. Besides, the 23.6% Fib retracement level of the main decline from the $22,790 swing high to $19,509 low is just above the trend line.<\/p>\n The next major resistance sits near the $21,000 level and the 100 hourly simple moving average<\/a>. It coincides with the 50% Fib retracement level of the main decline from the $22,790 swing high to $19,509 low.<\/p>\n <\/a><\/p>\n Source: BTCUSD on TradingView.com<\/a><\/p>\n A close above the $21,000 resistance might start a fresh increase. In the stated case, the price may perhaps rise towards $21,400. Any more gains might send the price towards the $22,000 resistance zone.<\/p>\n More Losses in BTC?<\/p>\n If bitcoin fails to start a recovery wave above the $20,000 resistance zone, it could continue to move down. An immediate support on the downside is near the $19,500 zone.<\/p>\n The next major support is near the $19,200 levels. A clear move below the $19,500 and $19,200 levels might open the doors for a move towards the $18,500 level.<\/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 $19,500, followed by $19,200.<\/p>\n Major Resistance Levels \u2013 $20,000, $20,050 and $20,300.<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Bitcoin is showing bearish signs below the $20,000 support zone against the US Dollar. BTC could accelerate further lower below the $19,500 support zone.<\/p>\n Bitcoin started a fresh decline and traded below the $20,000 support. Bitcoin Price Remains At Risk<\/p>\n Bitcoin price attempted a recovery wave above the $20,300 resistance level<\/a>. However, there was no upside break and the price remained in a bearish zone below $20,500.<\/p>\n Recently, Ethereum saw a major bearish reaction below the $1,500 support. As a result, BTC also moved a few points lower and declined below the $20,000 support. It even traded below the $19,600 and tested the $19,500 support zone.<\/p>\n A low is formed near $19,509 and the price is now consolidating losses. Bitcoin price is now trading below $20,200 and the 100 hourly simple moving average.<\/p>\n On the upside, an immediate resistance is near the $20,000 level. There is also a major bearish trend line forming with resistance near $20,050 on the hourly chart of the BTC\/USD pair. Besides, the 23.6% Fib retracement level of the main decline from the $22,790 swing high to $19,509 low is just above the trend line.<\/p>\n The next major resistance sits near the $21,000 level and the 100 hourly simple moving average<\/a>. It coincides with the 50% Fib retracement level of the main decline from the $22,790 swing high to $19,509 low.<\/p>\n
\nThe price is now trading below $20,200 and the 100 hourly simple moving average.
\nThere is a major bearish trend line forming with resistance near $20,050 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a substantial decline if it breaks the $19,500 support zone.<\/p>\n
![<\/a><\/p>\nSource: BTCUSD on TradingView.com<\/a><\/p>\nA close above the $21,000 resistance might start a fresh increase. In the stated case, the price may perhaps rise towards $21,400. Any more gains might send the price towards the $22,000 resistance zone.<\/p>\nMore Losses in BTC?<\/p>\nIf bitcoin fails to start a recovery wave above the $20,000 resistance zone, it could continue to move down. An immediate support on the downside is near the $19,500 zone.<\/p>\nThe next major support is near the $19,200 levels. A clear move below the $19,500 and $19,200 levels might open the doors for a move towards the $18,500 level.<\/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 $19,500, followed by $19,200.<\/p>\nMajor Resistance Levels \u2013 $20,000, $20,050 and $20,300.<\/p>","protected":false},"excerpt":{"rendered":"<\/p>\nBitcoin is showing bearish signs below the $20,000 support zone against the US Dollar. BTC could accelerate further lower below the $19,500 support zone.<\/p>\nBitcoin started a fresh decline and traded below the $20,000 support.\nThe price is now trading below $20,200 and the 100 hourly simple moving average.\nThere is a major bearish trend line forming with resistance near $20,050 on the hourly chart of the BTC\/USD pair (data feed from Kraken).\nThe pair could start a substantial decline if it breaks the $19,500 support zone.<\/p>\nBitcoin Price Remains At Risk<\/p>\nBitcoin price attempted a recovery wave above the $20,300 resistance level<\/a>. However, there was no upside break and the price remained in a bearish zone below $20,500.<\/p>\nRecently, Ethereum saw a major bearish reaction below the $1,500 support. As a result, BTC also moved a few points lower and declined below the $20,000 support. It even traded below the $19,600 and tested the $19,500 support zone.<\/p>\nA low is formed near $19,509 and the price is now consolidating losses. Bitcoin price is now trading below $20,200 and the 100 hourly simple moving average.<\/p>\nOn the upside, an immediate resistance is near the $20,000 level. There is also a major bearish trend line forming with resistance near $20,050 on the hourly chart of the BTC\/USD pair. Besides, the 23.6% Fib retracement level of the main decline from the $22,790 swing high to $19,509 low is just above the trend line.<\/p>\nThe next major resistance sits near the $21,000 level and the 100 hourly simple moving average<\/a>. It coincides with the 50% Fib retracement level of the main decline from the $22,790 swing high to $19,509 low.<\/p>\n<\/a><\/p>\nSource: BTCUSD on TradingView.com<\/a><\/p>\nA close above the $21,000 resistance might start a fresh increase. In the stated case, the price may perhaps rise towards $21,400. Any more gains might send the price towards the $22,000 resistance zone.<\/p>\nMore Losses in BTC?<\/p>\nIf bitcoin fails to start a recovery wave above the $20,000 resistance zone, it could continue to move down. An immediate support on the downside is near the $19,500 zone.<\/p>\nThe next major support is near the $19,200 levels. A clear move below the $19,500 and $19,200 levels might open the doors for a move towards the $18,500 level.<\/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 $19,500, followed by $19,200.<\/p>\nMajor Resistance Levels \u2013 $20,000, $20,050 and $20,300.<\/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-7792","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\/7792","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=7792"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/7792\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=7792"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=7792"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=7792"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Bitcoin-19.png\"){kind=link}