BTC\u2019s price shows strength but has struggled to break past $19,500 as the price continues to move in circles.\u00a0
\nBTC bounced from a low of $18,200 after the price rallied toward $19,800 but was rejected by sellers.\u00a0
\nThe price of BTC continues to trade below 50 and 200 Exponential Moving Averages (EMA) ahead of the weekly close.\u00a0<\/p>\n
The price movement of Bitcoin (BTC) has shown some great price action lately as the price garnered momentum to bounce from a low of $18,200 to $19,800d against tether (USDT). Despite the strength shown by the price of Bitcoin (BTC), it has struggled to reclaim $19,500, which is key for a rally to the region of $20,000. Ahead of the weekly close, it is yet to be known if the price of BTC will rally to the upside or downside, as many traders are left in a dilemma. (Data from Binance)<\/p>\n
Bitcoin (BTC) Price Analysis On The Weekly Chart The week has been packed with so many events in the crypto space, but a notable one was the sharp decline in the crypto market after the release of the CPI news; the market appeared to be manipulated, with Bitcoin (BTC) dropping from $19,200 to $18,200 in hours and then back up to a range high of $19,800 before rejection back to $19,200. This price action seems more of manipulation with so much price volatility in a short time. With the possibility of Bitcoin Dominance (BTC.D) rising to a high of 45%, altcoins could suffer more if BTC retraces.\u00a0<\/p>\n The price of BTC has struggled in recent times to restore the strength it showed, rallying from a region of $18,700 to $25,000. BTC\u2019s price declined from $25,000 to a weekly low of $18,800-$19,300. The has since struggled to breakout from this range.<\/p>\n BTC\u2019s price needs to reclaim $19,500 with good volume for the price to restore a measure of relief for BTC price and altcoins. If the price of BTC fails to close above $19,500, we could see the price retesting the low of $18,800-$18,200.<\/p>\n Weekly resistance for the price of BTC \u2013 $19,500.<\/p>\n Weekly support for the price of BTC \u2013 $18,800-18,200.<\/p>\n Price Analysis Of BTC On The Daily (1D) Chart The daily timeframe for the price of BTC has been more of a struggle to\u00a0<\/p>\n breakout from its descending triangle could spark some relief and bounce to the high of $20,500 and higher with strong buy volume.\u00a0<\/p>\n BTC\u2019s price trades at $19,130 as the price continues its range movement\u00a0<\/p>\n as the price forms a descending wedge below the 50 Exponential Moving Average<\/a> (EMA); the price of $20,200 corresponds to the 50 EMA, acting as resistance for the price to break higher.\u00a0<\/p>\n Daily resistance for the price of BTC \u2013 $20,200.<\/p>\n Daily support for the price of BTC \u2013 $18,800.<\/p>\n Featured Image From NBTC, Charts From Tradingview<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n BTC\u2019s price shows strength but has struggled to break past $19,500 as the price continues to move in circles.\u00a0 The price movement of Bitcoin (BTC) has shown some great price action lately as the price garnered momentum to bounce from a low of $18,200 to $19,800d against tether (USDT). Despite the strength shown by the price of Bitcoin (BTC), it has struggled to reclaim $19,500, which is key for a rally to the region of $20,000. Ahead of the weekly close, it is yet to be known if the price of BTC will rally to the upside or downside, as many traders are left in a dilemma. (Data from Binance)<\/p>\n Bitcoin (BTC) Price Analysis On The Weekly Chart The week has been packed with so many events in the crypto space, but a notable one was the sharp decline in the crypto market after the release of the CPI news; the market appeared to be manipulated, with Bitcoin (BTC) dropping from $19,200 to $18,200 in hours and then back up to a range high of $19,800 before rejection back to $19,200. This price action seems more of manipulation with so much price volatility in a short time. With the possibility of Bitcoin Dominance (BTC.D) rising to a high of 45%, altcoins could suffer more if BTC retraces.\u00a0<\/p>\n The price of BTC has struggled in recent times to restore the strength it showed, rallying from a region of $18,700 to $25,000. BTC\u2019s price declined from $25,000 to a weekly low of $18,800-$19,300. The has since struggled to breakout from this range.<\/p>\n BTC\u2019s price needs to reclaim $19,500 with good volume for the price to restore a measure of relief for BTC price and altcoins. If the price of BTC fails to close above $19,500, we could see the price retesting the low of $18,800-$18,200.<\/p>\n Weekly resistance for the price of BTC \u2013 $19,500.<\/p>\n Weekly support for the price of BTC \u2013 $18,800-18,200.<\/p>\n Price Analysis Of BTC On The Daily (1D) Chart The daily timeframe for the price of BTC has been more of a struggle to\u00a0<\/p>\n breakout from its descending triangle could spark some relief and bounce to the high of $20,500 and higher with strong buy volume.\u00a0<\/p>\n BTC\u2019s price trades at $19,130 as the price continues its range movement\u00a0<\/p>\n
\nWeekly BTC Price Chart | Source: BTCUSDT On Tradingview.com<\/a><\/p>\n
\nDaily BTC Price Chart | Source: BTCUSDT On Tradingview.com<\/a><\/p>\n
\nBTC bounced from a low of $18,200 after the price rallied toward $19,800 but was rejected by sellers.\u00a0
\nThe price of BTC continues to trade below 50 and 200 Exponential Moving Averages (EMA) ahead of the weekly close.\u00a0<\/p>\n
\nWeekly BTC Price Chart | Source: BTCUSDT On Tradingview.com<\/a><\/p>\n
\nDaily BTC Price Chart | Source: BTCUSDT On Tradingview.com<\/a><\/p>\n