Bitcoin price slowly moved lower below $19,200 against the US Dollar. BTC is still trading above the main breakdown support near the $18,500 zone.
Bitcoin is slowly moving lower and there was a spike below the $19,000 level.
The price is trading below $19,200 and the 100 hourly simple moving average.
There is a key bearish trend line forming with resistance near $19,180 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could start a steady increase if there is a clear move above $19,200 and then $19,500.
Bitcoin Price Holds Support
Bitcoin price started a slow decline from just above the $19,500 resistance zone. BTC declined below the $19,250 and $19,200 support levels to move into a short-term bearish zone.
The bears even pushed the price below the $19,000 level and there was a close below the 100 hourly simple moving average. The price traded as low as $18,900 and is currently correcting higher. There was a move above the $19,000 level.
Bitcoin price is now trading below $19,200 and the 100 hourly simple moving average. There is also a key bearish trend line forming with resistance near $19,180 on the hourly chart of the BTC/USD pair.
On the upside, an immediate resistance is near the $19,090 level. It is close to the 23.6% Fib retracement level of the recent decline from the $19,697 swing high to $18,900 low. The first major resistance sits near the $19,200 level and the trend line.
Source: BTCUSD on TradingView.com
The next major resistance might be $19,300 or the 50% Fib retracement level of the recent decline from the $19,697 swing high to $18,900 low. A clear move above the $19,300 resistance might start a decent increase. In the stated case, the price may perhaps test the $19,500 resistance. Any more gains might start a steady increase towards the $20,000 resistance zone.
Downside Break in BTC?
If bitcoin fails to rise above the $19,300 resistance zone, it could continue to move down. An immediate support on the downside is near the $19,000 zone.
The next major support is near the $18,900 zone. A downside break could send the price towards the main breakdown support at $18,500. Any more losses might send the price further lower towards $17,800 and selling pressure could increase.
Technical indicators:
Hourly MACD – The MACD is now losing pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.
Major Support Levels – $19,000, followed by $18,900.
Major Resistance Levels – $19,200, $19,300 and $19,500.
Bitcoin price slowly moved lower below $19,200 against the US Dollar. BTC is still trading above the main breakdown support near the $18,500 zone.
Bitcoin is slowly moving lower and there was a spike below the $19,000 level.
The price is trading below $19,200 and the 100 hourly simple moving average.
There is a key bearish trend line forming with resistance near $19,180 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could start a steady increase if there is a clear move above $19,200 and then $19,500.
Bitcoin price started a slow decline from just above the $19,500 resistance zone. BTC declined below the $19,250 and $19,200 support levels to move into a short-term bearish zone.
The bears even pushed the price below the $19,000 level and there was a close below the 100 hourly simple moving average. The price traded as low as $18,900 and is currently correcting higher. There was a move above the $19,000 level.
Bitcoin price is now trading below $19,200 and the 100 hourly simple moving average. There is also a key bearish trend line forming with resistance near $19,180 on the hourly chart of the BTC/USD pair.
On the upside, an immediate resistance is near the $19,090 level. It is close to the 23.6% Fib retracement level of the recent decline from the $19,697 swing high to $18,900 low. The first major resistance sits near the $19,200 level and the trend line.
Source: BTCUSD on TradingView.com
The next major resistance might be $19,300 or the 50% Fib retracement level of the recent decline from the $19,697 swing high to $18,900 low. A clear move above the $19,300 resistance might start a decent increase. In the stated case, the price may perhaps test the $19,500 resistance. Any more gains might start a steady increase towards the $20,000 resistance zone.
If bitcoin fails to rise above the $19,300 resistance zone, it could continue to move down. An immediate support on the downside is near the $19,000 zone.
The next major support is near the $18,900 zone. A downside break could send the price towards the main breakdown support at $18,500. Any more losses might send the price further lower towards $17,800 and selling pressure could increase.
Technical indicators:
Hourly MACD – The MACD is now losing pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.
Major Support Levels – $19,000, followed by $18,900.
Major Resistance Levels – $19,200, $19,300 and $19,500.
Tags: bitcoinbtcusdBTCUSDTxbtusd
NewsBTCRead More
Dogecoin and Shiba Inu led losses among major tokens as heavy volume and liquidations overwhelmed…
Bitcoin (BTC) extended its decline on Friday, sliding to levels not seen since early February,…
Bitcoin’s June correction is now being accompanied by a sharp rise in whale deposits to…
Several headwinds converged over bitcoin recently as its largest buyer turned seller, ETF investors headed…
Grayscale’s head of research says Strategy’s leveraged business model has come under pressure, and that…
All twenty constituents in the CoinDesk 20 index were trading lower since yesterday.Read MoreCoinDesk: Bitcoin,…
