{"id":495363,"date":"2022-07-12T03:08:41","date_gmt":"2022-07-12T03:08:41","guid":{"rendered":"https:\/\/wncen.com\/?p=495363"},"modified":"2024-06-11T08:06:09","modified_gmt":"2024-06-11T08:06:09","slug":"bitcoin-price-takes-a-hit-20k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-takes-a-hit-20k\/","title":{"rendered":"TA: Bitcoin Price Takes A Hit, This Support Is The Key"},"content":{"rendered":"<p><em>Bitcoin extended losses and traded below $20,000 against the US Dollar. BTC could revisit the key $19,500 support zone, where the bears might be tested.<\/em><\/p>\n<ul>\n<li>Bitcoin is following a bearish path below the $20,500 pivot level.<\/li>\n<li>The price is now trading below the $20,500 level and the 100 hourly simple moving average.<\/li>\n<li>There was a break below a major bullish trend line with support near $20,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair might find support near the $19,500 and $19,350 levels.<\/li>\n<\/ul>\n<h2>Bitcoin Price Extends Losses<\/h2>\n<p>Bitcoin price started a <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-trims-gains-20500\/\" target=\"_blank\" rel=\"noopener \">fresh decline<\/a> after it failed to stay above the $22,000 level. There was a steady decline below the $21,200 and $21,000 levels.<\/p>\n<p>The price moved below the 61.8% Fib retracement level of the upward move from the $19,301 swing low to $22,500 swing high. Besides, there was a break below a major bullish trend line with support near $20,500 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>Bitcoin price is now trading below the $20,500 level and the <a href=\"https:\/\/wncen.com\/analysis\/btc\/ta-bitcoin-price-rallies-above-22k-why-dips-turn-attractive\/\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>. It even settled below the 76.4% Fib retracement level of the upward move from the $19,301 swing low to $22,500 swing high.<\/p>\n<p>However, there is a major support waiting near $19,500. On the upside, the price could resistance near the $20,000 and $20,150 levels.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/07\/Bitcoin-9.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-495364\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/07\/Bitcoin-9.png?resize=1834%2C845\" alt=\"Bitcoin Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/07\/Bitcoin-9.png?w=1834 1834w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/07\/Bitcoin-9.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/07\/Bitcoin-9.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/07\/Bitcoin-9.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/07\/Bitcoin-9.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/07\/Bitcoin-9.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/07\/Bitcoin-9.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<pre>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/pre>\n<p>The next key resistance is near the $20,500 zone (the recent breakdown zone). A close above the $20,500 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 $21,750 level. The next major resistance sits near the $22,000 level.<\/p>\n<h2>More Losses in BTC?<\/h2>\n<p>If bitcoin fails to start a recovery wave above the $20,150 level, it could continue to move down. An immediate support on the downside is near the $19,580 level.<\/p>\n<p>The next major support now sits near the $19,300 level or the last swing low. A close below the $19,300 support zone could accelerate losses. In the stated case, there is a risk of a move towards the $18,500 level.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now in the oversold zone.<\/p>\n<p>Major Support Levels \u2013 $19,600, followed by $19,300.<\/p>\n<p>Major Resistance Levels \u2013 $20,150, $20,500 and $21,750.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin extended losses and traded below $20,000 against the US Dollar. BTC could revisit the key $19,500 support zone, where the bears might be tested. Bitcoin is following a bearish path below the $20,500 pivot level. The price is now trading below the $20,500 level and the 100 hourly simple moving average. There was a break below a major bullish trend line with support near $20,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair might find support near the $19,500 and $19,350 levels. Bitcoin Price Extends Losses Bitcoin price started a fresh decline after it failed to stay above the $22,000 level. There was a steady decline below the $21,200 and $21,000 levels. The price moved below the 61.8% Fib retracement level of the upward move from the $19,301 swing low to $22,500 swing high. Besides, there was a break below a major bullish trend line with support near $20,500 on the hourly chart of the BTC\/USD pair. Bitcoin price is now trading below the $20,500 level and the 100 hourly simple moving average. It even settled below the 76.4% Fib retracement level of the upward move from the $19,301 swing low to $22,500 swing high. However, there is a major support waiting near $19,500. On the upside, the price could resistance near the $20,000 and $20,150 levels. Source: BTCUSD on TradingView.com The next key resistance is near the $20,500 zone (the recent breakdown zone). A close above the $20,500 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 $21,750 level. The next major resistance sits near the $22,000 level. More Losses in BTC? If bitcoin fails to start a recovery wave above the $20,150 level, it could continue to move down. An immediate support on the downside is near the $19,580 level. The next major support now sits near the $19,300 level or the last swing low. A close below the $19,300 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 $19,600, followed by $19,300. Major Resistance Levels \u2013 $20,150, $20,500 and $21,750.<\/p>\n","protected":false},"author":67,"featured_media":459296,"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-495363","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<title>TA: Bitcoin Price Takes A Hit, This Support Is The Key<\/title>\n<meta name=\"description\" content=\"Bitcoin extended losses and traded below $20,000 against the US Dollar. 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Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation. As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.","sameAs":["https:\/\/www.linkedin.com\/in\/aayush-jindal-358b6932\/","https:\/\/x.com\/twitter.com\/AayushJs"],"url":"https:\/\/wncen.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"TA: Bitcoin Price Takes A Hit, This Support Is The Key","url":"http:\/\/wncen.com\/news\/bitcoin-price-takes-a-hit-20k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-price-takes-a-hit-20k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/shutterstock_1324745120.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/shutterstock_1324745120.jpg?fit=1000%2C667"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btcusd","btcusdt","xbtusd"],"dateCreated":"2022-07-12T03:08:41Z","datePublished":"2022-07-12T03:08:41Z","dateModified":"2024-06-11T08:06:09Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Bitcoin Price Takes A Hit, This Support Is The Key\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-takes-a-hit-20k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-takes-a-hit-20k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_1324745120.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_1324745120.jpg?fit=1000%2C667\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btcusd\",\"btcusdt\",\"xbtusd\"],\"dateCreated\":\"2022-07-12T03:08:41Z\",\"datePublished\":\"2022-07-12T03:08:41Z\",\"dateModified\":\"2024-06-11T08:06:09Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/shutterstock_1324745120.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/495363"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=495363"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/495363\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/459296"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=495363"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=495363"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=495363"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}