{"id":494293,"date":"2022-06-28T03:08:24","date_gmt":"2022-06-28T03:08:24","guid":{"rendered":"https:\/\/wncen.com\/?p=494293"},"modified":"2024-06-11T14:21:06","modified_gmt":"2024-06-11T14:21:06","slug":"ta-bitcoin-dips-further-why-btc-could-revisit-20k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ta-bitcoin-dips-further-why-btc-could-revisit-20k\/","title":{"rendered":"TA: Bitcoin Dips Further, Why BTC Could Revisit $20K"},"content":{"rendered":"
Bitcoin is moving lower below the $21,000 zone against the US Dollar. BTC could gain bearish momentum below the $20,650 support zone.<\/em><\/p>\n Bitcoin price failed to clear the $21,500 resistance zone<\/a> and started a fresh decline. The price declined below the $21,200 and $21,000 levels.<\/p>\n There was a clear move below the 50% Fib retracement level of the upward move from the $19,751 swing low to $21,780 high. There was also a close below the $20,800 level and the 100 hourly simple moving average.<\/p>\n Bitcoin tested the $20,600 and $20,500 support levels. It is now consolidating near the 61.8% Fib retracement level of the upward move from the $19,751 swing low to $21,780 high. An immediate resistance on the upside is near the $21,920 level.<\/p>\n The next key resistance is near the $21,000 level. There is also a key bearish trend line forming with resistance near $21,000 on the hourly chart of the BTC\/USD pair. A clear move above the $21,000 level might start a decent increase<\/a>.<\/p>\n <\/a><\/p>\n In the stated case, the price could rise above the $21,250 level. The next major stop might be near the $21,780 high, above which the price may perhaps rise towards the $22,500 level.<\/p>\n If bitcoin fails to clear the $21,250 resistance zone, it could continue to move down. An immediate support on the downside is near the $20,650 zone and $20,500.<\/p>\n A downside break below the $20,650 support zone could start a major decline. In the stated case, the price might slide towards the $20,000 level. Any more losses could set the pace for a move towards the $19,200 level or even $18,800 in the coming sessions.<\/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 below the 50 level.<\/p>\n Major Support Levels \u2013 $20,500, followed by $20,000.<\/p>\n Major Resistance Levels \u2013 $20,920, $21,250 and $22,500.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin is moving lower below the $21,000 zone against the US Dollar. BTC could gain bearish momentum below the $20,650 support zone. Bitcoin struggled to rise above $21,200 and declined towards $20,650. The price is now below the $21,000 level and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $21,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could decline further if there is a clear move below the $20,650 zone. Bitcoin Price Remains At Risk Bitcoin price failed to clear the $21,500 resistance zone and started a fresh decline. The price declined below the $21,200 and $21,000 levels. There was a clear move below the 50% Fib retracement level of the upward move from the $19,751 swing low to $21,780 high. There was also a close below the $20,800 level and the 100 hourly simple moving average. Bitcoin tested the $20,600 and $20,500 support levels. It is now consolidating near the 61.8% Fib retracement level of the upward move from the $19,751 swing low to $21,780 high. An immediate resistance on the upside is near the $21,920 level. The next key resistance is near the $21,000 level. There is also a key bearish trend line forming with resistance near $21,000 on the hourly chart of the BTC\/USD pair. A clear move above the $21,000 level might start a decent increase. Source: BTCUSD on TradingView.com In the stated case, the price could rise above the $21,250 level. The next major stop might be near the $21,780 high, above which the price may perhaps rise towards the $22,500 level. More Losses in BTC? If bitcoin fails to clear the $21,250 resistance zone, it could continue to move down. An immediate support on the downside is near the $20,650 zone and $20,500. A downside break below the $20,650 support zone could start a major decline. In the stated case, the price might slide towards the $20,000 level. Any more losses could set the pace for a move towards the $19,200 level or even $18,800 in the coming sessions. 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 below the 50 level. Major Support Levels \u2013 $20,500, followed by $20,000. Major Resistance Levels \u2013 $20,920, $21,250 and $22,500.<\/p>\n","protected":false},"author":67,"featured_media":458340,"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-494293","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 Remains At Risk<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
More Losses in BTC?<\/h2>\n