Bitcoin value is struggling beneath the $19,200 assist towards the US Greenback. BTC stays at a threat of extra losses beneath the $18,500 assist within the close to time period.
- Bitcoin is displaying bearish indicators beneath the $19,200 and $19,500 ranges.
- The worth is buying and selling beneath above $19,500 and the 100 hourly easy shifting common.
- There’s a key bearish pattern line forming with resistance close to $19,180 on the hourly chart of the BTC/USD pair (information feed from Kraken).
- The pair might proceed to maneuver down if it stays beneath the $19,500 stage for a very long time.
Bitcoin Value Slides Additional
Bitcoin value settled beneath the $20,000 assist zone. BTC is following a gradual and regular decline beneath the $19,500 pivot stage and the 100 hourly easy shifting common.
The worth even traded beneath yesterday’s low and examined the $18,850 zone. A low is shaped close to $18,860 and the value is now consolidating losses. There was a minor restoration wave above the $19,000 resistance stage. The worth climbed above the 23.6% Fib retracement stage of the latest decline from the $19,560 swing excessive to $18,860 low.
Bitcoin value is now buying and selling beneath above $19,500 and the 100 hourly easy shifting common. On the upside, an instantaneous resistance is close to the $19,200 stage.
There may be additionally a key bearish pattern line forming with resistance close to $19,180 on the hourly chart of the BTC/USD pair. The pattern line is close to the 50% Fib retracement stage of the latest decline from the $19,560 swing excessive to $18,860 low.
Supply: BTCUSD on TradingView.com
A transparent transfer above the pattern line would possibly ship the value in the direction of the 100 hourly easy shifting common or the $19,500 resistance. Any extra beneficial properties would possibly ship the value in the direction of the $20,000 resistance zone.
Extra Losses in BTC?
If bitcoin fails to get better above the $19,200 resistance zone, it might proceed to maneuver down. An instantaneous assist on the draw back is close to the $18,850 zone.
The subsequent main assist is close to the $18,550 zone. A draw back break beneath the $18,550 assist zone would possibly set off one other sharp decline. Within the acknowledged case, there’s a threat of a transfer in the direction of the $17,800 assist zone.
Technical indicators:
Hourly MACD – The MACD is now gaining tempo within the bearish zone.
Hourly RSI (Relative Power Index) – The RSI for BTC/USD is now close to the 50 stage.
Main Help Ranges – $18,850, adopted by $18,550.
Main Resistance Ranges – $19,200, $19,500 and $20,000.
