BTCUSD on TradingView.com<\/a><\/p>\nThe first major resistance sits near the $20,500 level and the trend line. The next major resistance might be $21,000. A clear move above the $21,000 resistance might send the price towards the $22,000 resistance. Any more gains open the doors for a test of the $22,500 resistance zone.<\/p>\n
More Losses in BTC?<\/h2>\n If bitcoin fails to rise above the $20,500 resistance zone, it could continue to move down. An immediate support on the downside is near the $20,150 zone.<\/p>\n
The next major support is near the $20,000 zone and the 100 hourly simple moving average. A downside break and close below $20,000 might open the doors for a move towards the $19,500 support zone.<\/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 now below the 50 level.<\/p>\n
Major Support Levels \u2013 $20,200, followed by $20,000.<\/p>\n
Major Resistance Levels \u2013 $20,400, $20,500 and $21,000.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price started a downside correction from $21,000 against the US Dollar. BTC is stable above $20,000 and might start a fresh increase. Bitcoin is holding gains above the $20,000 and $20,200 levels. The price is trading above $20,000 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $20,440 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start another upward move if there is a clear move above the $20,500 resistance. Bitcoin Price Reaches Key Support Bitcoin price started a fresh increase above the $20,000 and $20,500 resistance levels. BTC even traded above the $20,800 level and tested the $21,000 resistance zone. A high was formed near $21,021 before there was a downside correction. The price declined below the $20,800 and $20,500 levels. It even broke the 23.6% Fib retracement level of the key increase from the $19,266 swing low to $21,021 high. Bitcoin price is now trading above $20,000 and the 100 hourly simple moving average. It seems to be holding gains above the $20,000 and $20,200 levels. The price also tested the 50% Fib retracement level of the key increase from the $19,266 swing low to $21,021 high. On the upside, an immediate resistance is near the $20,400 zone. There is also a key bearish trend line forming with resistance near $20,440 on the hourly chart of the BTC\/USD pair. Source: BTCUSD on TradingView.com The first major resistance sits near the $20,500 level and the trend line. The next major resistance might be $21,000. A clear move above the $21,000 resistance might send the price towards the $22,000 resistance. Any more gains open the doors for a test of the $22,500 resistance zone. More Losses in BTC? If bitcoin fails to rise above the $20,500 resistance zone, it could continue to move down. An immediate support on the downside is near the $20,150 zone. The next major support is near the $20,000 zone and the 100 hourly simple moving average. A downside break and close below $20,000 might open the doors for a move towards the $19,500 support zone. 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 below the 50 level. Major Support Levels \u2013 $20,200, followed by $20,000. Major Resistance Levels \u2013 $20,400, $20,500 and $21,000.<\/p>\n","protected":false},"author":67,"featured_media":464159,"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-508269","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
Bitcoin Price Just Saw Technical Correction, Why BTC Could Rise Again<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n