Bitcoin price is consolidating near the $19,000 level against the US Dollar. BTC seems to be forming a short-term bullish pattern and might rise towards $20,000.<\/p>\n
Bitcoin is struggling to gain pace for a move above the $19,200 level.
\nThe price is trading below above $19,400 and the 100 hourly simple moving average.
\nThere is a new connecting bearish trend line forming with resistance near $19,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a fresh increase unless there is a clear move below the $18,950 level.<\/p>\n
Bitcoin Price Remains In A Range<\/p>\n
Bitcoin price was seen trading in a range below the $20,000 resistance zone. BTC even settled below the $19,500 level and the 100 hourly simple moving average.<\/p>\n
The last swing low was formed near $18,860 before there was a minor upside correction. The price was able to clear the 23.6% Fib retracement level of the downward move from the $19,560 swing high to $18,860 low. The bulls even pushed the price above the $19,200 level.<\/p>\n
However, the bears were active above the $19,200 level. Bitcoin price struggled<\/a> to clear the 50% Fib retracement level of the downward move from the $19,560 swing high to $18,860 low.<\/p>\n It is now trading below above $19,400 and the 100 hourly simple moving average. It seems like there is a short-term inverse head and shoulders pattern forming with breakdown support at $18,950. On the upside, an immediate resistance is near the $19,200 level. There is also a new connecting bearish trend line forming with resistance near $19,200 on the hourly chart of the BTC\/USD pair.<\/p>\n <\/a><\/p>\n Source: BTCUSD on TradingView.com<\/a><\/p>\n A clear move above the trend line might send the price towards the $19,500 resistance. Any more gains might start a steady increase towards the $20,000 resistance zone.<\/p>\n More Losses in BTC?<\/p>\n If bitcoin fails to rise above the $19,200 resistance zone, it could continue to move down. An immediate support on the downside is near the $18,950 zone.<\/p>\n The next major support is near the $18,860 zone. A downside break below the $18,860 support zone send the price towards the $18,550 level. Any more losses might call for a drop towards the $17,800 support zone.<\/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 $18,950, followed by $18,860.<\/p>\n Major Resistance Levels \u2013 $19,200, $19,500 and $20,000.<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Bitcoin price is consolidating near the $19,000 level against the US Dollar. BTC seems to be forming a short-term bullish pattern and might rise towards $20,000.<\/p>\n Bitcoin is struggling to gain pace for a move above the $19,200 level. Bitcoin Price Remains In A Range<\/p>\n Bitcoin price was seen trading in a range below the $20,000 resistance zone. BTC even settled below the $19,500 level and the 100 hourly simple moving average.<\/p>\n The last swing low was formed near $18,860 before there was a minor upside correction. The price was able to clear the 23.6% Fib retracement level of the downward move from the $19,560 swing high to $18,860 low. The bulls even pushed the price above the $19,200 level.<\/p>\n However, the bears were active above the $19,200 level. Bitcoin price struggled<\/a> to clear the 50% Fib retracement level of the downward move from the $19,560 swing high to $18,860 low.<\/p>\n It is now trading below above $19,400 and the 100 hourly simple moving average. It seems like there is a short-term inverse head and shoulders pattern forming with breakdown support at $18,950. On the upside, an immediate resistance is near the $19,200 level. There is also a new connecting bearish trend line forming with resistance near $19,200 on the hourly chart of the BTC\/USD pair.<\/p>\n
\nThe price is trading below above $19,400 and the 100 hourly simple moving average.
\nThere is a new connecting bearish trend line forming with resistance near $19,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a fresh increase unless there is a clear move below the $18,950 level.<\/p>\n
![<\/a><\/p>\nSource: BTCUSD on TradingView.com<\/a><\/p>\nA clear move above the trend line might send the price towards the $19,500 resistance. Any more gains might start a steady increase towards the $20,000 resistance zone.<\/p>\nMore Losses in BTC?<\/p>\nIf bitcoin fails to rise above the $19,200 resistance zone, it could continue to move down. An immediate support on the downside is near the $18,950 zone.<\/p>\nThe next major support is near the $18,860 zone. A downside break below the $18,860 support zone send the price towards the $18,550 level. Any more losses might call for a drop towards the $17,800 support zone.<\/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 $18,950, followed by $18,860.<\/p>\nMajor Resistance Levels \u2013 $19,200, $19,500 and $20,000.<\/p>","protected":false},"excerpt":{"rendered":"<\/p>\nBitcoin price is consolidating near the $19,000 level against the US Dollar. BTC seems to be forming a short-term bullish pattern and might rise towards $20,000.<\/p>\nBitcoin is struggling to gain pace for a move above the $19,200 level.\nThe price is trading below above $19,400 and the 100 hourly simple moving average.\nThere is a new connecting bearish trend line forming with resistance near $19,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken).\nThe pair could start a fresh increase unless there is a clear move below the $18,950 level.<\/p>\nBitcoin Price Remains In A Range<\/p>\nBitcoin price was seen trading in a range below the $20,000 resistance zone. BTC even settled below the $19,500 level and the 100 hourly simple moving average.<\/p>\nThe last swing low was formed near $18,860 before there was a minor upside correction. The price was able to clear the 23.6% Fib retracement level of the downward move from the $19,560 swing high to $18,860 low. The bulls even pushed the price above the $19,200 level.<\/p>\nHowever, the bears were active above the $19,200 level. Bitcoin price struggled<\/a> to clear the 50% Fib retracement level of the downward move from the $19,560 swing high to $18,860 low.<\/p>\nIt is now trading below above $19,400 and the 100 hourly simple moving average. It seems like there is a short-term inverse head and shoulders pattern forming with breakdown support at $18,950. On the upside, an immediate resistance is near the $19,200 level. There is also a new connecting bearish trend line forming with resistance near $19,200 on the hourly chart of the BTC\/USD pair.<\/p>\n<\/a><\/p>\nSource: BTCUSD on TradingView.com<\/a><\/p>\nA clear move above the trend line might send the price towards the $19,500 resistance. Any more gains might start a steady increase towards the $20,000 resistance zone.<\/p>\nMore Losses in BTC?<\/p>\nIf bitcoin fails to rise above the $19,200 resistance zone, it could continue to move down. An immediate support on the downside is near the $18,950 zone.<\/p>\nThe next major support is near the $18,860 zone. A downside break below the $18,860 support zone send the price towards the $18,550 level. Any more losses might call for a drop towards the $17,800 support zone.<\/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 $18,950, followed by $18,860.<\/p>\nMajor Resistance Levels \u2013 $19,200, $19,500 and $20,000.<\/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-9667","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\/9667","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=9667"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/9667\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=9667"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=9667"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=9667"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/10\/Bitcoin-10.png\"){kind=link}