Bitcoin declined heavily below the $22,000 support zone against the US Dollar. BTC is correcting gains, but upsides might be limited above the $22,500 resistance.
Bitcoin extended losses and declined below the $22,000 support.
The price is now trading below the $22,000 level and the 100 hourly simple moving average.
There is a major bearish trend line forming with resistance near $21,550 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could extend losses if it stays below the $21,500 and $22,000 levels.
Bitcoin Price Dives over 8%
Bitcoin price started a major decline below the $23,000 support zone. BTC gained bearish momentum below the $22,500 and $22,200 support levels.
The decline was such that the price settled below the $22,000 support zone. It even spiked below the $21,000 level and traded as low as $20,797. The price is now correcting losses above the $21,000 level. It is now trading below the $22,000 level and the 100 hourly simple moving average.
Recently, there was a push above the $21,250 level. However, bitcoin price struggled near the 23.6% Fib retracement level of the recent decline from the $24,414 swing high to $20,797 low.
On the upside, an immediate resistance is near the $21,500 level. There is also a major bearish trend line forming with resistance near $21,550 on the hourly chart of the BTC/USD pair. The first major resistance on the upside sits near the $22,000 level and the 100 hourly simple moving average.
Source: BTCUSD on TradingView.com
The main resistance is forming near the $22,650 zone. It is near the 50% Fib retracement level of the recent decline from the $24,414 swing high to $20,797 low. A close above the $22,500 and $22,650 resistance levels might start another increase.
More Losses in BTC?
If bitcoin fails to clear the $22,000 resistance zone, it could continue to move down. An immediate support on the downside is near the $21,250 level.
The next major support now sits near the $20,800 level. A downside break and close below the $20,800 level might spark another sharp decline. In the stated case, the price might decline towards the $20,000 level.
Technical indicators:
Hourly MACD – The MACD is now gaining pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.
Major Support Levels – $21,250, followed by $20,800.
Major Resistance Levels – $21,550, $22,000 and $22,650.
Bitcoin declined heavily below the $22,000 support zone against the US Dollar. BTC is correcting gains, but upsides might be limited above the $22,500 resistance.
Bitcoin extended losses and declined below the $22,000 support.
The price is now trading below the $22,000 level and the 100 hourly simple moving average.
There is a major bearish trend line forming with resistance near $21,550 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could extend losses if it stays below the $21,500 and $22,000 levels.
Bitcoin price started a major decline below the $23,000 support zone. BTC gained bearish momentum below the $22,500 and $22,200 support levels.
The decline was such that the price settled below the $22,000 support zone. It even spiked below the $21,000 level and traded as low as $20,797. The price is now correcting losses above the $21,000 level. It is now trading below the $22,000 level and the 100 hourly simple moving average.
Recently, there was a push above the $21,250 level. However, bitcoin price struggled near the 23.6% Fib retracement level of the recent decline from the $24,414 swing high to $20,797 low.
On the upside, an immediate resistance is near the $21,500 level. There is also a major bearish trend line forming with resistance near $21,550 on the hourly chart of the BTC/USD pair. The first major resistance on the upside sits near the $22,000 level and the 100 hourly simple moving average.
Source: BTCUSD on TradingView.com
The main resistance is forming near the $22,650 zone. It is near the 50% Fib retracement level of the recent decline from the $24,414 swing high to $20,797 low. A close above the $22,500 and $22,650 resistance levels might start another increase.
If bitcoin fails to clear the $22,000 resistance zone, it could continue to move down. An immediate support on the downside is near the $21,250 level.
The next major support now sits near the $20,800 level. A downside break and close below the $20,800 level might spark another sharp decline. In the stated case, the price might decline towards the $20,000 level.
Technical indicators:
Hourly MACD – The MACD is now gaining pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.
Major Support Levels – $21,250, followed by $20,800.
Major Resistance Levels – $21,550, $22,000 and $22,650.
Tags: bitcoinbtcusdBTCUSDTxbtusd
NewsBTCRead More
Crypto analyst Javon Marks has provided a bullish outlook for the XRP price, predicting that…
Bitcoin Magazine Bitcoin Price Fights For $90,000 Despite Fed Rate Cuts The bitcoin price fell…
The U.S. dollar, along with precious metals and bond yields, is reacting as expected to…
New fund enables Save the Children to hold bitcoin, pilot digital wallets, and speed up…
Your day-ahead look for Dec. 11, 2025Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]
A recent post by crypto analyst Stockmoney Lizards on X suggests that the current Bitcoin…
