Bitcoin started another decline from the $19,500 resistance against the US Dollar. BTC is at risk of a sharp decline below the $18,500 and $18,000 levels.<\/p>\n
Bitcoin started another decline after the fed increased rates to 3.25%.
\nThe price is trading below $19,200 and the 100 hourly simple moving average.
\nThere was a break below a key bullish trend line with support near $19,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair must stay above the $18,200 level to avoid more losses in the near term.<\/p>\n
Bitcoin Price Restarts Decline<\/p>\n
Bitcoin price attempted to gain strength above the $19,200 level. However, BTC failed to clear the $19,500 resistance zone<\/a> and stayed in a bearish zone.<\/p>\n As a result, there was a bearish reaction below the $19,000 level. The fed rate hike from 2.75% to 3.25% triggered a sharp decline. There was a break below a key bullish trend line with support near $19,000 on the hourly chart of the BTC\/USD pair.<\/p>\n Bitcoin price is now trading below $19,200 and the 100 hourly simple moving average<\/a>. There was a retest of the $18,200 zone and the price traded as low as $18,140. It is now consolidating losses above the $18,200 support zone.<\/p>\n There was a move above the 23.6% Fib retracement level of the recent decline from the $19,675 swing high to $18,140 low. On the upside, an immediate resistance is near the $18,775 level. The next major resistance sits near the $19,000 level.<\/p>\n The 50% Fib retracement level of the recent decline from the $19,675 swing high to $18,140 low is also near the $19,000 zone. The main resistance is now forming near the $19,200 zone and the 100 hourly simple moving average.<\/p>\n <\/a><\/p>\n Source: BTCUSD on TradingView.com<\/a><\/p>\n A close above the $19,200 level might increase the chances of a move to $19,650. Any more gains might send the price towards the $20,000 resistance zone.<\/p>\n More Losses in BTC?<\/p>\n If bitcoin fails to recover above the $19,000 zone, it could continue to move down. An immediate support on the downside is near the $18,200 zone.<\/p>\n The next major support is near the $18,000 level. A clear move below the $18,000 zone could set the pace for a larger decline. In the stated case, the price may even test the $17,000 level.<\/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 below the 50 level.<\/p>\n Major Support Levels \u2013 $18,200, followed by $18,000.<\/p>\n Major Resistance Levels \u2013 $19,000, $19,200 and $19,500.<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Bitcoin started another decline from the $19,500 resistance against the US Dollar. BTC is at risk of a sharp decline below the $18,500 and $18,000 levels.<\/p>\n Bitcoin started another decline after the fed increased rates to 3.25%. Bitcoin Price Restarts Decline<\/p>\n Bitcoin price attempted to gain strength above the $19,200 level. However, BTC failed to clear the $19,500 resistance zone<\/a> and stayed in a bearish zone.<\/p>\n As a result, there was a bearish reaction below the $19,000 level. The fed rate hike from 2.75% to 3.25% triggered a sharp decline. There was a break below a key bullish trend line with support near $19,000 on the hourly chart of the BTC\/USD pair.<\/p>\n Bitcoin price is now trading below $19,200 and the 100 hourly simple moving average<\/a>. There was a retest of the $18,200 zone and the price traded as low as $18,140. It is now consolidating losses above the $18,200 support zone.<\/p>\n There was a move above the 23.6% Fib retracement level of the recent decline from the $19,675 swing high to $18,140 low. On the upside, an immediate resistance is near the $18,775 level. The next major resistance sits near the $19,000 level.<\/p>\n The 50% Fib retracement level of the recent decline from the $19,675 swing high to $18,140 low is also near the $19,000 zone. The main resistance is now forming near the $19,200 zone and the 100 hourly simple moving average.<\/p>\n
\nThe price is trading below $19,200 and the 100 hourly simple moving average.
\nThere was a break below a key bullish trend line with support near $19,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair must stay above the $18,200 level to avoid more losses in the near term.<\/p>\n
![<\/a><\/p>\nSource: BTCUSD on TradingView.com<\/a><\/p>\nA close above the $19,200 level might increase the chances of a move to $19,650. Any more gains might send the price towards the $20,000 resistance zone.<\/p>\nMore Losses in BTC?<\/p>\nIf bitcoin fails to recover above the $19,000 zone, it could continue to move down. An immediate support on the downside is near the $18,200 zone.<\/p>\nThe next major support is near the $18,000 level. A clear move below the $18,000 zone could set the pace for a larger decline. In the stated case, the price may even test the $17,000 level.<\/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 below the 50 level.<\/p>\nMajor Support Levels \u2013 $18,200, followed by $18,000.<\/p>\nMajor Resistance Levels \u2013 $19,000, $19,200 and $19,500.<\/p>","protected":false},"excerpt":{"rendered":"<\/p>\nBitcoin started another decline from the $19,500 resistance against the US Dollar. BTC is at risk of a sharp decline below the $18,500 and $18,000 levels.<\/p>\nBitcoin started another decline after the fed increased rates to 3.25%.\nThe price is trading below $19,200 and the 100 hourly simple moving average.\nThere was a break below a key bullish trend line with support near $19,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).\nThe pair must stay above the $18,200 level to avoid more losses in the near term.<\/p>\nBitcoin Price Restarts Decline<\/p>\nBitcoin price attempted to gain strength above the $19,200 level. However, BTC failed to clear the $19,500 resistance zone<\/a> and stayed in a bearish zone.<\/p>\nAs a result, there was a bearish reaction below the $19,000 level. The fed rate hike from 2.75% to 3.25% triggered a sharp decline. There was a break below a key bullish trend line with support near $19,000 on the hourly chart of the BTC\/USD pair.<\/p>\nBitcoin price is now trading below $19,200 and the 100 hourly simple moving average<\/a>. There was a retest of the $18,200 zone and the price traded as low as $18,140. It is now consolidating losses above the $18,200 support zone.<\/p>\nThere was a move above the 23.6% Fib retracement level of the recent decline from the $19,675 swing high to $18,140 low. On the upside, an immediate resistance is near the $18,775 level. The next major resistance sits near the $19,000 level.<\/p>\nThe 50% Fib retracement level of the recent decline from the $19,675 swing high to $18,140 low is also near the $19,000 zone. The main resistance is now forming near the $19,200 zone and the 100 hourly simple moving average.<\/p>\n<\/a><\/p>\nSource: BTCUSD on TradingView.com<\/a><\/p>\nA close above the $19,200 level might increase the chances of a move to $19,650. Any more gains might send the price towards the $20,000 resistance zone.<\/p>\nMore Losses in BTC?<\/p>\nIf bitcoin fails to recover above the $19,000 zone, it could continue to move down. An immediate support on the downside is near the $18,200 zone.<\/p>\nThe next major support is near the $18,000 level. A clear move below the $18,000 zone could set the pace for a larger decline. In the stated case, the price may even test the $17,000 level.<\/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 below the 50 level.<\/p>\nMajor Support Levels \u2013 $18,200, followed by $18,000.<\/p>\nMajor Resistance Levels \u2013 $19,000, $19,200 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-8192","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\/8192","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=8192"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/8192\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=8192"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=8192"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=8192"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Bitcoin-23.png\"){kind=link}