{"id":503161,"date":"2022-09-22T02:38:03","date_gmt":"2022-09-22T02:38:03","guid":{"rendered":"https:\/\/wncen.com\/?p=503161"},"modified":"2024-06-11T14:26:29","modified_gmt":"2024-06-11T14:26:29","slug":"bitcoin-price-could-take-hit-18k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-could-take-hit-18k\/","title":{"rendered":"TA: Bitcoin Price Could Take Major Hit After Fed Rate Hike"},"content":{"rendered":"
Bitcoin started another decline from the $19,500 resistance against the US Dollar. BTC is at risk of a sharp decline below the $18,500 and $18,000 levels.<\/em><\/p>\n Bitcoin price attempted to gain strength above the $19,200 level. However, BTC failed to clear the $19,500 resistance zone<\/a> and stayed in a bearish zone.<\/p>\n As a result, there was a bearish reaction below the $19,000 level. The fed rate hike from 2.75% to 3.25% triggered a sharp decline. There was a break below a key bullish trend line with support near $19,000 on the hourly chart of the BTC\/USD pair.<\/p>\n Bitcoin price is now trading below $19,200 and the 100 hourly simple moving average<\/a>. There was a retest of the $18,200 zone and the price traded as low as $18,140. It is now consolidating losses above the $18,200 support zone.<\/p>\n There was a move above the 23.6% Fib retracement level of the recent decline from the $19,675 swing high to $18,140 low. On the upside, an immediate resistance is near the $18,775 level. The next major resistance sits near the $19,000 level.<\/p>\n The 50% Fib retracement level of the recent decline from the $19,675 swing high to $18,140 low is also near the $19,000 zone. The main resistance is now forming near the $19,200 zone and the 100 hourly simple moving average.<\/p>\n <\/a><\/p>\n A close above the $19,200 level might increase the chances of a move to $19,650. Any more gains might send the price towards the $20,000 resistance zone.<\/p>\n If bitcoin fails to recover above the $19,000 zone, it could continue to move down. An immediate support on the downside is near the $18,200 zone.<\/p>\n The next major support is near the $18,000 level. A clear move below the $18,000 zone could set the pace for a larger decline. In the stated case, the price may even test the $17,000 level.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is now losing 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 $18,200, followed by $18,000.<\/p>\n Major Resistance Levels \u2013 $19,000, $19,200 and $19,500.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin started another decline from the $19,500 resistance against the US Dollar. BTC is at risk of a sharp decline below the $18,500 and $18,000 levels. Bitcoin started another decline after the fed increased rates to 3.25%. The price is trading below $19,200 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $19,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair must stay above the $18,200 level to avoid more losses in the near term. Bitcoin Price Restarts Decline Bitcoin price attempted to gain strength above the $19,200 level. However, BTC failed to clear the $19,500 resistance zone and stayed in a bearish zone. As a result, there was a bearish reaction below the $19,000 level. The fed rate hike from 2.75% to 3.25% triggered a sharp decline. There was a break below a key bullish trend line with support near $19,000 on the hourly chart of the BTC\/USD pair. Bitcoin price is now trading below $19,200 and the 100 hourly simple moving average. There was a retest of the $18,200 zone and the price traded as low as $18,140. It is now consolidating losses above the $18,200 support zone. There was a move above the 23.6% Fib retracement level of the recent decline from the $19,675 swing high to $18,140 low. On the upside, an immediate resistance is near the $18,775 level. The next major resistance sits near the $19,000 level. The 50% Fib retracement level of the recent decline from the $19,675 swing high to $18,140 low is also near the $19,000 zone. The main resistance is now forming near the $19,200 zone and the 100 hourly simple moving average. Source: BTCUSD on TradingView.com A close above the $19,200 level might increase the chances of a move to $19,650. Any more gains might send the price towards the $20,000 resistance zone. More Losses in BTC? If bitcoin fails to recover above the $19,000 zone, it could continue to move down. An immediate support on the downside is near the $18,200 zone. The next major support is near the $18,000 level. A clear move below the $18,000 zone could set the pace for a larger decline. In the stated case, the price may even test the $17,000 level. Technical indicators: Hourly MACD \u2013 The MACD is now losing 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 $18,200, followed by $18,000. Major Resistance Levels \u2013 $19,000, $19,200 and $19,500.<\/p>\n","protected":false},"author":67,"featured_media":465035,"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-503161","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 Restarts Decline<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
More Losses in BTC?<\/h2>\n