{"id":494995,"date":"2022-07-06T03:08:59","date_gmt":"2022-07-06T03:08:59","guid":{"rendered":"https:\/\/uniquehot.com\/?p=494995"},"modified":"2024-06-11T09:11:30","modified_gmt":"2024-06-11T09:11:30","slug":"bitcoin-faces-another-rejection-20k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-faces-another-rejection-20k\/","title":{"rendered":"TA: Bitcoin Faces Another Rejection, Can Bulls Save The Day"},"content":{"rendered":"
Bitcoin spiked above the $20,500 resistance against the US Dollar. BTC is now struggling near $19,800, with a major support near the $19,600 zone.<\/em><\/p>\n Bitcoin price remained supported<\/a> above the $19,500 zone. BTC started another increase and climbed above the $20,000 resistance zone.<\/p>\n There was a spike above the $20,500 resistance zone but the bulls failed to gain strength. A high was formed near $20,732 and the price corrected gains. There was a drop below the $20,200 and $20,000 support levels.<\/p>\n Bitcoin traded below the 50% Fib retracement level of the upward move from the $19,300 swing low to $20,732 swing high. It is now trading above the $19,500 level and the 100 hourly simple moving average<\/a>. There is also a key bullish trend line forming with support near $19,550 on the hourly chart of the BTC\/USD pair.<\/p>\n On the upside, the price is facing resistance near the $20,000 and $20,200 levels. The next key resistance is near the $20,500 zone. A close above the $20,500 resistance zone could open the doors for a decent increase.<\/p>\n <\/a><\/p>\n In the stated case, the price could climb towards the $21,200 level. The next major resistance sits near the $21,500 level.<\/p>\n If bitcoin fails to clear the $20,500 resistance zone, it could continue to move down. An immediate support on the downside is near the $19,650 level. It is near the 76.4% Fib retracement level of the upward move from the $19,300 swing low to $20,732 swing high.<\/p>\n The next major support now sits near the $19,500 level or the trend line zone. A close below the $19,500 support zone could increase selling pressure. In the stated case, the price may perhaps decline towards the $18,740 level.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is now losing pace in the bullish 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 $19,650, followed by $19,500.<\/p>\n Major Resistance Levels \u2013 $20,200, $20,500 and $21,200.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin spiked above the $20,500 resistance against the US Dollar. BTC is now struggling near $19,800, with a major support near the $19,600 zone. Bitcoin made another attempt to gain strength above $20,500 but failed. The price is now trading above the $19,500 level and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $19,550 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could rise again unless there is a clear move below the $19,500 support zone. Bitcoin Price Faces Hurdles Bitcoin price remained supported above the $19,500 zone. BTC started another increase and climbed above the $20,000 resistance zone. There was a spike above the $20,500 resistance zone but the bulls failed to gain strength. A high was formed near $20,732 and the price corrected gains. There was a drop below the $20,200 and $20,000 support levels. Bitcoin traded below the 50% Fib retracement level of the upward move from the $19,300 swing low to $20,732 swing high. It is now trading above the $19,500 level and the 100 hourly simple moving average. There is also a key bullish trend line forming with support near $19,550 on the hourly chart of the BTC\/USD pair. On the upside, the price is facing resistance near the $20,000 and $20,200 levels. The next key resistance is near the $20,500 zone. A close above the $20,500 resistance zone could open the doors for a decent increase. Source: BTCUSD on TradingView.com In the stated case, the price could climb towards the $21,200 level. The next major resistance sits near the $21,500 level. More Losses in BTC? If bitcoin fails to clear the $20,500 resistance zone, it could continue to move down. An immediate support on the downside is near the $19,650 level. It is near the 76.4% Fib retracement level of the upward move from the $19,300 swing low to $20,732 swing high. The next major support now sits near the $19,500 level or the trend line zone. A close below the $19,500 support zone could increase selling pressure. In the stated case, the price may perhaps decline towards the $18,740 level. Technical indicators: Hourly MACD \u2013 The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now near the 50 level. Major Support Levels \u2013 $19,650, followed by $19,500. Major Resistance Levels \u2013 $20,200, $20,500 and $21,200.<\/p>\n","protected":false},"author":67,"featured_media":460635,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1144,78790,76835],"class_list":["post-494995","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n\n
Bitcoin Price Faces Hurdles<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
More Losses in BTC?<\/h2>\n