{"id":496572,"date":"2022-07-25T03:28:38","date_gmt":"2022-07-25T03:28:38","guid":{"rendered":"https:\/\/wncen.com\/?p=496572"},"modified":"2024-06-11T14:21:51","modified_gmt":"2024-06-11T14:21:51","slug":"bitcoin-price-risk-drop-21k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-risk-drop-21k\/","title":{"rendered":"TA: Bitcoin Price At Clear Risk of Sharp Drop, Indicators Turn Red"},"content":{"rendered":"
Bitcoin started a fresh decline from the $23,000 resistance against the US Dollar. BTC is declining and remains at a risk of a sharp decline below $21,800.<\/em><\/p>\n Bitcoin price attempted a clear move above the $24,000 resistance zone<\/a>. However, the bears appeared near $23,800 zone. The last swing high was formed near $23,744 before there was a fresh decline.<\/p>\n The price declined below the $22,500 support level and the 100 hourly simple moving average. However, the bulls were active near the $21,950 zone. Recently, there was an upside correction above the $22,200 resistance zone. The price climbed above the 23.6% Fib retracement level of the downward move from the $22,744 swing high to $21,950 low.<\/p>\n However, the price faced sellers near the $23,000 zone and the 100 hourly simple moving average<\/a>. The price failed near the 50% Fib retracement level of the downward move from the $22,744 swing high to $21,950 low.<\/p>\n It is now moving lower below $22,000. There was a break below a key bullish trend line with support near $22,700 on the hourly chart of the BTC\/USD pair. It is now approaching a key support near $21,800 level. On the upside, bitcoin price could face resistance near the $22,200 level.<\/p>\n <\/a><\/p>\n The next key resistance is near the $22,500 zone. A close above the $22,500 resistance zone could set the pace for more gains. In the stated case, the price may perhaps rise towards the $23,000 level. The next major resistance sits near the $24,000 level.<\/p>\n If bitcoin fails to stay above the $21,800 support, it could continue to move down. An immediate support on the downside is near the $21,600 level.<\/p>\n The next major support now sits near the $21,500 level. A clear break and close below the $21,500 support zone might send the price towards $20,500 in the near term or even $20,000.<\/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 well below the 50 level.<\/p>\n Major Support Levels \u2013 $21,600, followed by $21,500.<\/p>\n Major Resistance Levels \u2013 $22,200, $22,500 and $23,000.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin started a fresh decline from the $23,000 resistance against the US Dollar. BTC is declining and remains at a risk of a sharp decline below $21,800. Bitcoin started a downside correction and traded below the $22,200 level. The price is now trading below the $22,500 level and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $22,700 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair might decline heavily if there is a clear move below the $21,450 level. Bitcoin Price Starts Fresh Decline Bitcoin price attempted a clear move above the $24,000 resistance zone. However, the bears appeared near $23,800 zone. The last swing high was formed near $23,744 before there was a fresh decline. The price declined below the $22,500 support level and the 100 hourly simple moving average. However, the bulls were active near the $21,950 zone. Recently, there was an upside correction above the $22,200 resistance zone. The price climbed above the 23.6% Fib retracement level of the downward move from the $22,744 swing high to $21,950 low. However, the price faced sellers near the $23,000 zone and the 100 hourly simple moving average. The price failed near the 50% Fib retracement level of the downward move from the $22,744 swing high to $21,950 low. It is now moving lower below $22,000. There was a break below a key bullish trend line with support near $22,700 on the hourly chart of the BTC\/USD pair. It is now approaching a key support near $21,800 level. On the upside, bitcoin price could face resistance near the $22,200 level. Source: BTCUSD on TradingView.com The next key resistance is near the $22,500 zone. A close above the $22,500 resistance zone could set the pace for more gains. In the stated case, the price may perhaps rise towards the $23,000 level. The next major resistance sits near the $24,000 level. Downside Break in BTC? If bitcoin fails to stay above the $21,800 support, it could continue to move down. An immediate support on the downside is near the $21,600 level. The next major support now sits near the $21,500 level. A clear break and close below the $21,500 support zone might send the price towards $20,500 in the near term or even $20,000. 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 well below the 50 level. Major Support Levels \u2013 $21,600, followed by $21,500. Major Resistance Levels \u2013 $22,200, $22,500 and $23,000.<\/p>\n","protected":false},"author":67,"featured_media":457732,"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-496572","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 Starts Fresh Decline<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Downside Break in BTC?<\/h2>\n