Bitcoin price struggled to clear the $20,000 resistance zone against the US Dollar. BTC might decline, but there is a key support waiting near the $18,900 zone.<\/p>\n
Bitcoin failed to gain momentum for a move above the $20,000 resistance zone.
\nThe price is trading below $19,400 and the 100 hourly simple moving average.
\nThere is a key bearish trend line forming with resistance near $19,250 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could move down further to test the $18,900 support zone in the near term.<\/p>\n
Bitcoin Price Trims Gains<\/p>\n
Bitcoin price attempted a decent increase<\/a> above the $19,500 resistance zone. BTC even climbed above the $19,800 level, but the bears were active near the $20,000 resistance zone.<\/p>\n The price traded as high as $19,939 before there was a fresh decline. There was a drop below the $19,500 and $19,400 levels. The bears even pushed the price below the 50% Fib retracement level of the upward move<\/a> from the $18,271 swing low to $19,939 high.<\/p>\n Bitcoin price is now trading below $19,400 and the 100 hourly simple moving average. There is also a key bearish trend line forming with resistance near $19,250 on the hourly chart of the BTC\/USD pair.<\/p>\n On the upside, an immediate resistance is near the $19,220 level. The first major resistance sits near the $19,250 level and the trend line. A clear move above the trend line resistance might pump the price towards the $19,500 resistance zone.<\/p>\n <\/a><\/p>\n Source: BTCUSD on TradingView.com<\/a><\/p>\n The main resistance is still near the $20,000 zone. Any more gains might start a steady increase towards the $21,200 resistance zone.<\/p>\n Dips Limited in BTC?<\/p>\n If bitcoin fails to rise above the $19,250 resistance zone, it could continue to move down. An immediate support on the downside is near the $19,000 zone.<\/p>\n The next major support is near the $18,900 zone. It is near the 61.8% Fib retracement level of the upward move from the $18,271 swing low to $19,939 high. A downside break below the $18,900 support zone might increase selling pressure. In the stated case, the price could decline towards the $18,500 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 near the 50 level.<\/p>\n Major Support Levels \u2013 $19,000, followed by $18,900.<\/p>\n Major Resistance Levels \u2013 $19,250, $19,500 and $20,000.<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Bitcoin price struggled to clear the $20,000 resistance zone against the US Dollar. BTC might decline, but there is a key support waiting near the $18,900 zone.<\/p>\n Bitcoin failed to gain momentum for a move above the $20,000 resistance zone. Bitcoin Price Trims Gains<\/p>\n Bitcoin price attempted a decent increase<\/a> above the $19,500 resistance zone. BTC even climbed above the $19,800 level, but the bears were active near the $20,000 resistance zone.<\/p>\n The price traded as high as $19,939 before there was a fresh decline. There was a drop below the $19,500 and $19,400 levels. The bears even pushed the price below the 50% Fib retracement level of the upward move<\/a> from the $18,271 swing low to $19,939 high.<\/p>\n Bitcoin price is now trading below $19,400 and the 100 hourly simple moving average. There is also a key bearish trend line forming with resistance near $19,250 on the hourly chart of the BTC\/USD pair.<\/p>\n On the upside, an immediate resistance is near the $19,220 level. The first major resistance sits near the $19,250 level and the trend line. A clear move above the trend line resistance might pump the price towards the $19,500 resistance zone.<\/p>\n
\nThe price is trading below $19,400 and the 100 hourly simple moving average.
\nThere is a key bearish trend line forming with resistance near $19,250 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could move down further to test the $18,900 support zone in the near term.<\/p>\n
![<\/a><\/p>\nSource: BTCUSD on TradingView.com<\/a><\/p>\nThe main resistance is still near the $20,000 zone. Any more gains might start a steady increase towards the $21,200 resistance zone.<\/p>\nDips Limited in BTC?<\/p>\nIf bitcoin fails to rise above the $19,250 resistance zone, it could continue to move down. An immediate support on the downside is near the $19,000 zone.<\/p>\nThe next major support is near the $18,900 zone. It is near the 61.8% Fib retracement level of the upward move from the $18,271 swing low to $19,939 high. A downside break below the $18,900 support zone might increase selling pressure. In the stated case, the price could decline towards the $18,500 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 near the 50 level.<\/p>\nMajor Support Levels \u2013 $19,000, followed by $18,900.<\/p>\nMajor Resistance Levels \u2013 $19,250, $19,500 and $20,000.<\/p>","protected":false},"excerpt":{"rendered":"<\/p>\nBitcoin price struggled to clear the $20,000 resistance zone against the US Dollar. BTC might decline, but there is a key support waiting near the $18,900 zone.<\/p>\nBitcoin failed to gain momentum for a move above the $20,000 resistance zone.\nThe price is trading below $19,400 and the 100 hourly simple moving average.\nThere is a key bearish trend line forming with resistance near $19,250 on the hourly chart of the BTC\/USD pair (data feed from Kraken).\nThe pair could move down further to test the $18,900 support zone in the near term.<\/p>\nBitcoin Price Trims Gains<\/p>\nBitcoin price attempted a decent increase<\/a> above the $19,500 resistance zone. BTC even climbed above the $19,800 level, but the bears were active near the $20,000 resistance zone.<\/p>\nThe price traded as high as $19,939 before there was a fresh decline. There was a drop below the $19,500 and $19,400 levels. The bears even pushed the price below the 50% Fib retracement level of the upward move<\/a> from the $18,271 swing low to $19,939 high.<\/p>\nBitcoin price is now trading below $19,400 and the 100 hourly simple moving average. There is also a key bearish trend line forming with resistance near $19,250 on the hourly chart of the BTC\/USD pair.<\/p>\nOn the upside, an immediate resistance is near the $19,220 level. The first major resistance sits near the $19,250 level and the trend line. A clear move above the trend line resistance might pump the price towards the $19,500 resistance zone.<\/p>\n<\/a><\/p>\nSource: BTCUSD on TradingView.com<\/a><\/p>\nThe main resistance is still near the $20,000 zone. Any more gains might start a steady increase towards the $21,200 resistance zone.<\/p>\nDips Limited in BTC?<\/p>\nIf bitcoin fails to rise above the $19,250 resistance zone, it could continue to move down. An immediate support on the downside is near the $19,000 zone.<\/p>\nThe next major support is near the $18,900 zone. It is near the 61.8% Fib retracement level of the upward move from the $18,271 swing low to $19,939 high. A downside break below the $18,900 support zone might increase selling pressure. In the stated case, the price could decline towards the $18,500 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 near the 50 level.<\/p>\nMajor Support Levels \u2013 $19,000, followed by $18,900.<\/p>\nMajor Resistance Levels \u2013 $19,250, $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-9880","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\/9880","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=9880"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/9880\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=9880"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=9880"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=9880"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/10\/Bitcoin-12.png\"){kind=link}