{"id":503628,"date":"2022-09-26T02:58:08","date_gmt":"2022-09-26T02:58:08","guid":{"rendered":"https:\/\/wncen.com\/?p=503628"},"modified":"2024-06-11T14:26:37","modified_gmt":"2024-06-11T14:26:37","slug":"bitcoin-price-holds-ground-19k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-holds-ground-19k\/","title":{"rendered":"TA: Bitcoin Price Holds Ground, Why Close above $20K Is The Key"},"content":{"rendered":"
Bitcoin is holding the key $18,500 support zone against the US Dollar. BTC must settle above the $20,000 resistance zone to move into a positive zone.<\/em><\/p>\n Bitcoin price made another attempt to clear the $19,500 resistance zone<\/a>. However, BTC struggled and formed a short-term top near the $19,400 level.<\/p>\n A high was formed near $19,392 and the price declined. There was a move below the $19,000 level and the 100 hourly simple moving average. The pair traded as low as $18,645 and is currently consolidating losses. There was a minor increase above the $18,800 level.<\/p>\n Bitcoin price climbed above the 23.6% Fib retracement level of the recent decline from the $19,392 swing high to $18,645 low. On the upside, an immediate resistance is near the $19,000 level and the 100 hourly simple moving average<\/a>.<\/p>\n There is also a key bearish trend line forming with resistance near $19,020 on the hourly chart of the BTC\/USD pair. The trend line is near the 50% Fib retracement level of the recent decline from the $19,392 swing high to $18,645 low.<\/p>\n <\/a><\/p>\n The next major resistance sits near the $19,500 zone. A close above the $19,500 level might start a fresh surge to $20,000. Any more gains might start a steady increase and the price might rise towards the $21,500 resistance zone.<\/p>\n If bitcoin fails to recover above the $19,500 zone, it could start a fresh decline. An immediate support on the downside is near the $18,650 zone.<\/p>\n The next major support is near the $18,500 level. A clear move below the $18,500 zone could set the pace for a fresh decline. In the stated case, the price may even test the $17,500 level.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is now losing pace in the bullish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now just below the 50 level.<\/p>\n Major Support Levels \u2013 $18,650, followed by $18,500.<\/p>\n Major Resistance Levels \u2013 $19,000, $19,350 and $19,500.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin is holding the key $18,500 support zone against the US Dollar. BTC must settle above the $20,000 resistance zone to move into a positive zone. Bitcoin is struggling to gain momentum above the $19,500 resistance zone. The price is trading below $19,000 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $19,020 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could stage a fresh rally if there is a clear move above the $19,500 resistance zone. Bitcoin Price Consolidates Bitcoin price made another attempt to clear the $19,500 resistance zone. However, BTC struggled and formed a short-term top near the $19,400 level. A high was formed near $19,392 and the price declined. There was a move below the $19,000 level and the 100 hourly simple moving average. The pair traded as low as $18,645 and is currently consolidating losses. There was a minor increase above the $18,800 level. Bitcoin price climbed above the 23.6% Fib retracement level of the recent decline from the $19,392 swing high to $18,645 low. On the upside, an immediate resistance is near the $19,000 level and the 100 hourly simple moving average. There is also a key bearish trend line forming with resistance near $19,020 on the hourly chart of the BTC\/USD pair. The trend line is near the 50% Fib retracement level of the recent decline from the $19,392 swing high to $18,645 low. Source: BTCUSD on TradingView.com The next major resistance sits near the $19,500 zone. A close above the $19,500 level might start a fresh surge to $20,000. Any more gains might start a steady increase and the price might rise towards the $21,500 resistance zone. Fresh Decline in BTC? If bitcoin fails to recover above the $19,500 zone, it could start a fresh decline. An immediate support on the downside is near the $18,650 zone. The next major support is near the $18,500 level. A clear move below the $18,500 zone could set the pace for a fresh decline. In the stated case, the price may even test the $17,500 level. Technical indicators: Hourly MACD \u2013 The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now just below the 50 level. Major Support Levels \u2013 $18,650, followed by $18,500. Major Resistance Levels \u2013 $19,000, $19,350 and $19,500.<\/p>\n","protected":false},"author":67,"featured_media":461328,"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-503628","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 Consolidates<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Fresh Decline in BTC?<\/h2>\n