The Bitcoin price is now trading below the $19,000 level after the bulls failed to defend the coin at the aforementioned level.<\/p>\n
Over the last 24 hours, BTC fell by 1.2%, indicating that the coin was laterally trading. In the past week, the Bitcoin price has depreciated 6%.<\/p>\n
Buying strength continued to remain low on the one-day chart. Sellers have taken over, and it has been the same for almost a week.<\/p>\n
If the price of Bitcoin continues in this direction, the coin may fall to its immediate support zone.<\/p>\n
If the bulls have to defend BTC at the current price level, then buyers have to come through. The current support zone for the coin is $18,500-$18,000.<\/p>\n
A fall from that level would cause Bitcoin to travel below $17,000. The asset can drop to $16,000 and then, subsequently, to the $14,000 level. The recent dip in buying strength will cause BTC to dip further on its 24-hour chart.<\/p>\n
Bitcoin Price Analysis: One Day Chart BTC was trading at $18,600 at the time of writing. The immediate resistance for the coin was at $19,000, and the bulls have failed to defend the coin at that price level for weeks now.<\/p>\n If Bitcoin price manages to surpass the $20,000 level, the bulls might be able to take charge. The nearest support line for the coin was $18,000.<\/p>\n A fall beneath that means BTC touching $16,000 and then $14,000. The amount of Bitcoin traded in the last session decreased, and that meant a fall in buying strength.<\/p>\n Technical Analysis On the one-day chart, BTC showed that there was demand at lower levels. The technical indicators also suggested that sellers outnumbered buyers.<\/p>\n The Relative Strength Index was below the half-line, which indicated increased selling strength.<\/p>\n The Bitcoin price was below the 20-SMA line, and that meant sellers were driving the price momentum in the market as there was decreased demand for Bitcoin on the one-day chart.<\/p>\n Bitcoin depicted sell signal on the one day chart | Source: BTCUSD on TradingView<\/a><\/p>\n BTC depicted increased selling pressure, which has been dragging the coin to its closest support line. The technical outlook points towards further selling pressure for the coin.<\/p>\n The Moving Average Convergence Divergence indicates the price momentum and the overall price action of the coin.<\/p>\n The MACD underwent a bearish crossover and formed red histograms, which was sell signal for the coin. The Directional Movement Index was negative as the -DI line was above the +DI line and that showed that the bears were in control of the coiin.<\/p>\n The Average Directional Index (Red) was moving above the 20-mark, and that\u2019s a sign of bearish momentum for Bitcoin.<\/p>\n Featured image from UnSplash, Chart: TradingView.com<\/a><\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n The Bitcoin price is now trading below the $19,000 level after the bulls failed to defend the coin at the aforementioned level.<\/p>\n Over the last 24 hours, BTC fell by 1.2%, indicating that the coin was laterally trading. In the past week, the Bitcoin price has depreciated 6%.<\/p>\n Buying strength continued to remain low on the one-day chart. Sellers have taken over, and it has been the same for almost a week.<\/p>\n If the price of Bitcoin continues in this direction, the coin may fall to its immediate support zone.<\/p>\n If the bulls have to defend BTC at the current price level, then buyers have to come through. The current support zone for the coin is $18,500-$18,000.<\/p>\n A fall from that level would cause Bitcoin to travel below $17,000. The asset can drop to $16,000 and then, subsequently, to the $14,000 level. The recent dip in buying strength will cause BTC to dip further on its 24-hour chart.<\/p>\n Bitcoin Price Analysis: One Day Chart BTC was trading at $18,600 at the time of writing. The immediate resistance for the coin was at $19,000, and the bulls have failed to defend the coin at that price level for weeks now.<\/p>\n If Bitcoin price manages to surpass the $20,000 level, the bulls might be able to take charge. The nearest support line for the coin was $18,000.<\/p>\n A fall beneath that means BTC touching $16,000 and then $14,000. The amount of Bitcoin traded in the last session decreased, and that meant a fall in buying strength.<\/p>\n Technical Analysis On the one-day chart, BTC showed that there was demand at lower levels. The technical indicators also suggested that sellers outnumbered buyers.<\/p>\n The Relative Strength Index was below the half-line, which indicated increased selling strength.<\/p>\n The Bitcoin price was below the 20-SMA line, and that meant sellers were driving the price momentum in the market as there was decreased demand for Bitcoin on the one-day chart.<\/p>\n
\nBitcoin was priced at $18,600 on the one day chart | Source: BTCUSD on TradingView<\/a><\/p>\n
\nBitcoin registered fall in buying strength on the one day chart | Source: BTCUSD on TradingView<\/a><\/p>\n
\nBitcoin was priced at $18,600 on the one day chart | Source: BTCUSD on TradingView<\/a><\/p>\n
\nBitcoin registered fall in buying strength on the one day chart | Source: BTCUSD on TradingView<\/a><\/p>\n