Bitcoin price remained well bid above the $20,000 support zone. BTC is consolidating and might start a fresh rally if it clears the $20,500 resistance zone.
Bitcoin traded in a range above the key $20,000 support zone.
The price is trading below $20,500 and the 100 hourly simple moving average.
There is a crucial bearish trend line forming with resistance near $20,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could a fresh rally if it clears the 100 hourly SMA and $20,500.
Bitcoin price started a downside correction below the $20,600 and $20,500 levels. BTC even traded below the $20,250 level and settled below the 100 hourly simple moving average.
However, the bulls were active near the $20,000 zone. A low was formed near $20,059 and the price is now consolidating losses. There was a minor increase above the $20,200 level. The price climbed above the 23.6% Fib retracement level of the downward move from the $20,865 swing high to $20,060 low.
Bitcoin price is now trading below $20,500 and the 100 hourly simple moving average. On the upside, an immediate resistance is near the $20,350 level.
The first major resistance is near the $20,500 level and the 100 hourly simple moving average. There is also a crucial bearish trend line forming with resistance near $20,500 on the hourly chart of the BTC/USD pair. The trend line is near the 50% Fib retracement level of the downward move from the $20,865 swing high to $20,060 low.
Source: BTCUSD on TradingView.com
A clear move above the $20,500 resistance zone could start another steady increase. The next major resistance is near $21,000, above which the price may perhaps rise towards the $22,000 zone.
If bitcoin fails to clear above the $20,500 resistance zone, it could resume its decline. An immediate support on the downside is near the $20,200 zone.
The next major support is near the $20,000 zone or the recent low. A clear move below the $20,000 support might push the price further lower. In this case, the price may perhaps decline towards the $19,200 level.
Technical indicators:
Hourly MACD – The MACD is now gaining pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.
Major Support Levels – $20,200, followed by $20,000.
Major Resistance Levels – $20,350, $20,500 and $21,000.
Bitcoin price remained well bid above the $20,000 support zone. BTC is consolidating and might start a fresh rally if it clears the $20,500 resistance zone.
Bitcoin traded in a range above the key $20,000 support zone.
The price is trading below $20,500 and the 100 hourly simple moving average.
There is a crucial bearish trend line forming with resistance near $20,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could a fresh rally if it clears the 100 hourly SMA and $20,500.
Bitcoin price started a downside correction below the $20,600 and $20,500 levels. BTC even traded below the $20,250 level and settled below the 100 hourly simple moving average.
However, the bulls were active near the $20,000 zone. A low was formed near $20,059 and the price is now consolidating losses. There was a minor increase above the $20,200 level. The price climbed above the 23.6% Fib retracement level of the downward move from the $20,865 swing high to $20,060 low.
Bitcoin price is now trading below $20,500 and the 100 hourly simple moving average. On the upside, an immediate resistance is near the $20,350 level.
The first major resistance is near the $20,500 level and the 100 hourly simple moving average. There is also a crucial bearish trend line forming with resistance near $20,500 on the hourly chart of the BTC/USD pair. The trend line is near the 50% Fib retracement level of the downward move from the $20,865 swing high to $20,060 low.
Source: BTCUSD on TradingView.com
A clear move above the $20,500 resistance zone could start another steady increase. The next major resistance is near $21,000, above which the price may perhaps rise towards the $22,000 zone.
If bitcoin fails to clear above the $20,500 resistance zone, it could resume its decline. An immediate support on the downside is near the $20,200 zone.
The next major support is near the $20,000 zone or the recent low. A clear move below the $20,000 support might push the price further lower. In this case, the price may perhaps decline towards the $19,200 level.
Technical indicators:
Hourly MACD – The MACD is now gaining pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.
Major Support Levels – $20,200, followed by $20,000.
Major Resistance Levels – $20,350, $20,500 and $21,000.
Tags: bitcoinbtcusdBTCUSDTxbtusd
NewsBTCRead More
Bitcoin is holding on to its weekend gains as oil trades lower. ETFs lost over…
Bitcoin and ether order books are deeper than before the crash, while altcoin liquidity keeps…
One year after a flash crash wiped out billions in leveraged crypto bets, traders have…
CoinDesk analysis finds 10 unusually large trading days in 2026, raising questions about how investors…
Bitcoin Magazine Bitcoin Life Insurer Meanwhile Raises $37.5M as Wealthy Families Look to Pass On…
Bitcoin Magazine Here’s How Not To Screw up Your Bitcoin Privacy Just one transaction can…
