{"id":507268,"date":"2022-10-21T02:30:34","date_gmt":"2022-10-21T02:30:34","guid":{"rendered":"https:\/\/wncen.com\/?p=507268"},"modified":"2024-06-11T07:47:44","modified_gmt":"2024-06-11T07:47:44","slug":"bitcoin-price-still-consolidates-19k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-still-consolidates-19k\/","title":{"rendered":"Bitcoin Price Still Consolidates, What Could Trigger A Nasty Drop"},"content":{"rendered":"<p><em>Bitcoin price is struggling to climb higher above $19,200 against the US Dollar. BTC could start a major decline if it breaks the $18,900 and $18,500 support levels.<\/em><\/p>\n<ul>\n<li>Bitcoin failed to gain pace and remained in a bearish zone below $19,500.<\/li>\n<li>The price is trading below $19,400 and the 100 hourly simple moving average.<\/li>\n<li>There is a short-term breakout pattern forming with resistance near $19,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could start a steady recovery if there is a clear move above $19,200 and then $19,500.<\/li>\n<\/ul>\n<h2>Bitcoin Price Continues To Struggle<\/h2>\n<p>Bitcoin price attempted a move towards the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-grinds-lower-19k\/\" target=\"_blank\" rel=\"noopener \">$19,500 resistance zone<\/a>. BTC remained in a bearish zone and even failed to clear the $19,400 level. A high was formed near $19,344 and there was a fresh decline.<\/p>\n<p>The price declined below the $19,200 level and tested $18,950. A low is formed near $18,938 and the price is now consolidating losses. It traded above the 23.6% Fib retracement level of the recent drop from the $19,344 swing high to $18,938 low.<\/p>\n<p>Bitcoin price is now trading below $19,400 and the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-is-rising-20k\/\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>. There is also a short-term breakout pattern forming with resistance near $19,200 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>On the upside, an immediate resistance is near the $19,150 level. It is close to the 50% Fib retracement level of the recent drop from the $19,344 swing high to $18,938 low. The first major resistance sits near the $19,200 level and the trend line.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-16.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-507269\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-16.png?resize=1834%2C845\" alt=\"Bitcoin Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-16.png?w=1834 1834w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-16.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-16.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-16.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-16.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-16.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-16.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/p>\n<p>The next major resistance might be $19,300 or the 100 hourly SMA. A clear move above the $19,300 resistance might send the price towards the $19,500 resistance. Any more gains might open the doors for a move towards the $20,000 resistance zone.<\/p>\n<h2>Downside Break in BTC?<\/h2>\n<p>If bitcoin fails to rise above the $19,200 resistance zone, it could continue to move down. An immediate support on the downside is near the $19,000 zone.<\/p>\n<p>The next major support is near the $18,900 zone. A downside break and close below might call for a test of the main breakdown support at $18,500. Any more losses might start a major decline and the price could drop to $17,500.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now losing pace in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $19,000, followed by $18,900.<\/p>\n<p>Major Resistance Levels \u2013 $19,200, $19,300 and $19,500.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is struggling to climb higher above $19,200 against the US Dollar. BTC could start a major decline if it breaks the $18,900 and $18,500 support levels. Bitcoin failed to gain pace and remained in a bearish zone below $19,500. The price is trading below $19,400 and the 100 hourly simple moving average. There is a short-term breakout pattern forming with resistance near $19,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start a steady recovery if there is a clear move above $19,200 and then $19,500. Bitcoin Price Continues To Struggle Bitcoin price attempted a move towards the $19,500 resistance zone. BTC remained in a bearish zone and even failed to clear the $19,400 level. A high was formed near $19,344 and there was a fresh decline. The price declined below the $19,200 level and tested $18,950. A low is formed near $18,938 and the price is now consolidating losses. It traded above the 23.6% Fib retracement level of the recent drop from the $19,344 swing high to $18,938 low. Bitcoin price is now trading below $19,400 and the 100 hourly simple moving average. There is also a short-term breakout pattern forming with resistance near $19,200 on the hourly chart of the BTC\/USD pair. On the upside, an immediate resistance is near the $19,150 level. It is close to the 50% Fib retracement level of the recent drop from the $19,344 swing high to $18,938 low. The first major resistance sits near the $19,200 level and the trend line. Source: BTCUSD on TradingView.com The next major resistance might be $19,300 or the 100 hourly SMA. A clear move above the $19,300 resistance might send the price towards the $19,500 resistance. Any more gains might open the doors for a move towards the $20,000 resistance zone. Downside Break in BTC? If bitcoin fails to rise above the $19,200 resistance zone, it could continue to move down. An immediate support on the downside is near the $19,000 zone. The next major support is near the $18,900 zone. A downside break and close below might call for a test of the main breakdown support at $18,500. Any more losses might start a major decline and the price could drop to $17,500. 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 $19,000, followed by $18,900. Major Resistance Levels \u2013 $19,200, $19,300 and $19,500.<\/p>\n","protected":false},"author":67,"featured_media":460369,"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-507268","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>Bitcoin Price Still Consolidates, What Could Trigger A Nasty Drop<\/title>\n<meta name=\"description\" content=\"Bitcoin price is struggling to climb higher above $19,200 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":"Bitcoin Price Still Consolidates, What Could Trigger A Nasty Drop","url":"http:\/\/wncen.com\/news\/bitcoin-price-still-consolidates-19k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-price-still-consolidates-19k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/shutterstock_262478576.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/shutterstock_262478576.jpg?fit=1000%2C800"},"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":"2022-10-21T02:30:34Z","datePublished":"2022-10-21T02:30:34Z","dateModified":"2024-06-11T07:47:44Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Still Consolidates, What Could Trigger A Nasty Drop\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-still-consolidates-19k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-still-consolidates-19k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_262478576.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_262478576.jpg?fit=1000%2C800\"},\"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\":\"2022-10-21T02:30:34Z\",\"datePublished\":\"2022-10-21T02:30:34Z\",\"dateModified\":\"2024-06-11T07:47:44Z\"}<\/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\/04\/shutterstock_262478576.jpg?fit=1000%2C800","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/507268"}],"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=507268"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/507268\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/460369"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=507268"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=507268"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=507268"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}