{"id":495505,"date":"2022-07-13T03:08:05","date_gmt":"2022-07-13T03:08:05","guid":{"rendered":"https:\/\/uniquehot.com\/?p=495505"},"modified":"2024-06-11T09:00:04","modified_gmt":"2024-06-11T09:00:04","slug":"bitcoin-price-could-recover-20k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-could-recover-20k\/","title":{"rendered":"TA: Bitcoin Price Could Recover If It Holds This Key Support"},"content":{"rendered":"
Bitcoin extended losses and traded below $19,600 against the US Dollar. BTC could start a recovery wave if it stays above the $19,300 support zone.<\/em><\/p>\n Bitcoin price started a fresh decline<\/a> below the $21,000 support zone. The bears gained strength and pushed the price below the $20,000 support zone.<\/p>\n The decline even extended below the $19,600 support zone. A low is formed near $19,256 and the price is now consolidating near a major support at $19,300. It is also trading below the $19,600 level and the 100 hourly simple moving average<\/a>.<\/p>\n If bitcoin stays above the $19,300 zone, it might start a recovery wave. On the upside, the price could resistance near the $19,550 and $19,600 levels.<\/p>\n There is also a major bearish trend line forming with resistance near $19,600 on the hourly chart of the BTC\/USD pair. The next key resistance is near the $20,000 zone (the recent breakdown zone). It is near the 23.6% Fib retracement level of the downward move from the $22,498 swing high to $19,256 low.<\/p>\n <\/a><\/p>\n A close above the $20,000 resistance zone could set the pace for a test of the 100 hourly simple moving average. Any more gains might open the doors for a move towards the 50% Fib retracement level of the downward move from the $22,498 swing high to $19,256 low. The next major resistance sits near the $21,200 level.<\/p>\n If bitcoin fails to start a recovery wave above the $20,000 level, it could continue to move down. An immediate support on the downside is near the $19,300 level.<\/p>\n The next major support now sits near the $19,250 level or the recent low. A close below the $19,250 support zone could accelerate losses. In the stated case, there is a risk of a move towards the $18,500 level.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now in the oversold zone.<\/p>\n Major Support Levels \u2013 $19,300, followed by $18,500.<\/p>\n Major Resistance Levels \u2013 $19,600, $20,000 and $20,500.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin extended losses and traded below $19,600 against the US Dollar. BTC could start a recovery wave if it stays above the $19,300 support zone. Bitcoin remained in a bearish zone and settled below the $20,000 level. The price is now trading below the $19,600 level and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $19,600 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair might start a recovery wave if it stays above the $19,300 support zone. Bitcoin Price Reaches Key Support Bitcoin price started a fresh decline below the $21,000 support zone. The bears gained strength and pushed the price below the $20,000 support zone. The decline even extended below the $19,600 support zone. A low is formed near $19,256 and the price is now consolidating near a major support at $19,300. It is also trading below the $19,600 level and the 100 hourly simple moving average. If bitcoin stays above the $19,300 zone, it might start a recovery wave. On the upside, the price could resistance near the $19,550 and $19,600 levels. There is also a major bearish trend line forming with resistance near $19,600 on the hourly chart of the BTC\/USD pair. The next key resistance is near the $20,000 zone (the recent breakdown zone). It is near the 23.6% Fib retracement level of the downward move from the $22,498 swing high to $19,256 low. Source: BTCUSD on TradingView.com A close above the $20,000 resistance zone could set the pace for a test of the 100 hourly simple moving average. Any more gains might open the doors for a move towards the 50% Fib retracement level of the downward move from the $22,498 swing high to $19,256 low. The next major resistance sits near the $21,200 level. More Losses in BTC? If bitcoin fails to start a recovery wave above the $20,000 level, it could continue to move down. An immediate support on the downside is near the $19,300 level. The next major support now sits near the $19,250 level or the recent low. A close below the $19,250 support zone could accelerate losses. In the stated case, there is a risk of a move towards the $18,500 level. Technical indicators: Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now in the oversold zone. Major Support Levels \u2013 $19,300, followed by $18,500. Major Resistance Levels \u2013 $19,600, $20,000 and $20,500.<\/p>\n","protected":false},"author":67,"featured_media":462954,"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-495505","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 Reaches Key Support<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
More Losses in BTC?<\/h2>\n