{"id":499109,"date":"2022-08-18T02:08:27","date_gmt":"2022-08-18T02:08:27","guid":{"rendered":"https:\/\/wncen.com\/?p=499109"},"modified":"2024-06-11T10:01:19","modified_gmt":"2024-06-11T10:01:19","slug":"bitcoin-price-supports-watch-23-2k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-supports-watch-23-2k\/","title":{"rendered":"TA: Bitcoin Price Won’t Go Down Quietly: Key Supports To Watch"},"content":{"rendered":"
Bitcoin extended losses below the $23,650 support zone against the US Dollar. BTC must stay above $23,200 to avoid more losses in the near term.<\/em><\/p>\n Bitcoin price failed to stay in a positive zone above the $24,000 level. BTC started another decline<\/a> and traded below the $23,650 support zone.<\/p>\n There was a clear move below the $23,500 level and the 100 hourly simple moving average. Finally, the price found support near the $23,200 zone. A low was formed near $23,193 and the price is now consolidating losses.<\/p>\n Bitcoin price is now trading below the $23,650 level and the 100 hourly simple moving average<\/a>. On the upside, an immediate resistance is near the $23,500 level. It is near the 23.6% Fib retracement level of the recent decline from the $24,438 swing high to $23,193 low.<\/p>\n The first major resistance on the upside sits near the $23,800 level. It is near the 50% Fib retracement level of the recent decline from the $24,438 swing high to $23,193 low.<\/p>\n The main resistance is forming near the $24,000 zone and the 100 hourly simple moving average. There is also a connecting bearish trend line forming with resistance near $24,000 on the hourly chart of the BTC\/USD pair. A close above the $23,800 and $24,000 resistance levels might start another increase.<\/p>\n <\/a><\/p>\n In the stated case, the price may perhaps climb towards the $24,500 resistance. Any more gains might send the price towards the $25,000 level.<\/p>\n If bitcoin fails to clear the $24,000 resistance zone, it could continue to move down. An immediate support on the downside is near the $23,320 level.<\/p>\n The next major support now sits near the $23,200 level. A downside break and close below the $23,200 level might spark another decline. In the stated case, the price might decline towards the $22,750 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 $23,320, followed by $23,200.<\/p>\n Major Resistance Levels \u2013 $23,500, $23,800 and $24,000.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin extended losses below the $23,650 support zone against the US Dollar. BTC must stay above $23,200 to avoid more losses in the near term. Bitcoin remained in a bearish zone and traded below the $23,650 support. The price is now trading below the $23,650 level and the 100 hourly simple moving average. There is a connecting bearish trend line forming with resistance near $24,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could extend losses if there is a clear move below the $23,200 support in the near term. Bitcoin Price Drops Further Bitcoin price failed to stay in a positive zone above the $24,000 level. BTC started another decline and traded below the $23,650 support zone. There was a clear move below the $23,500 level and the 100 hourly simple moving average. Finally, the price found support near the $23,200 zone. A low was formed near $23,193 and the price is now consolidating losses. Bitcoin price is now trading below the $23,650 level and the 100 hourly simple moving average. On the upside, an immediate resistance is near the $23,500 level. It is near the 23.6% Fib retracement level of the recent decline from the $24,438 swing high to $23,193 low. The first major resistance on the upside sits near the $23,800 level. It is near the 50% Fib retracement level of the recent decline from the $24,438 swing high to $23,193 low. The main resistance is forming near the $24,000 zone and the 100 hourly simple moving average. There is also a connecting bearish trend line forming with resistance near $24,000 on the hourly chart of the BTC\/USD pair. A close above the $23,800 and $24,000 resistance levels might start another increase. Source: BTCUSD on TradingView.com In the stated case, the price may perhaps climb towards the $24,500 resistance. Any more gains might send the price towards the $25,000 level. More Losses in BTC? If bitcoin fails to clear the $24,000 resistance zone, it could continue to move down. An immediate support on the downside is near the $23,320 level. The next major support now sits near the $23,200 level. A downside break and close below the $23,200 level might spark another decline. In the stated case, the price might decline towards the $22,750 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 $23,320, followed by $23,200. Major Resistance Levels \u2013 $23,500, $23,800 and $24,000.<\/p>\n","protected":false},"author":67,"featured_media":460635,"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-499109","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 Drops Further<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
More Losses in BTC?<\/h2>\n