{"id":500846,"date":"2022-09-02T02:28:16","date_gmt":"2022-09-02T02:28:16","guid":{"rendered":"https:\/\/wncen.com\/?p=500846"},"modified":"2024-06-11T11:43:47","modified_gmt":"2024-06-11T11:43:47","slug":"bitcoin-price-lacks-momentum-20k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-lacks-momentum-20k\/","title":{"rendered":"TA: Bitcoin Price Lacks Momentum Above $20K, But Dips Likely To Be Limited"},"content":{"rendered":"<p><em>Bitcoin is struggling to gain momentum above $20,000 against the US Dollar. BTC could rise steadily if there is a clear move above the $20,200 resistance zone.<\/em><\/p>\n<ul>\n<li>Bitcoin is stuck near the $20,000 zone and trading below the $20,550 resistance.<\/li>\n<li>The price is now trading near the $20,000 level and the 100 hourly simple moving average.<\/li>\n<li>There is a major bearish trend line forming with resistance near $20,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could start a steady increase if it clears the $20,200 zone and $20,550 resistance levels.<\/li>\n<\/ul>\n<h2>Bitcoin Price Stuck Near $20K<\/h2>\n<p>Bitcoin price traded in a range and <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-btc-make-or-break-levels-20k\/\" target=\"_blank\" rel=\"noopener \">remained well supported above the $19,550 zone<\/a>. BTC also struggled to clear the $20,500 resistance zone.<\/p>\n<p>Recently, there was a fresh drop below the $20,000 level. However, the bulls were active near the $19,500 zone. A low was formed near $19,560 and the price started a decent increase. There was a move above the $19,800 and $20,000 levels.<\/p>\n<p>The bulls pushed the price above the 50% Fib retracement level of the recent decline from the $20,473 swing high to $19,560 low. Bitcoin price is now trading near the $20,000 level and the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-correction-to-22k\/\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>.<\/p>\n<p>On the upside, an immediate resistance is near the $20,125 level. It is near the 61.8% Fib retracement level of the recent decline from the $20,473 swing high to $19,560 low. There is also a major bearish trend line forming with resistance near $20,200 on the hourly chart of the BTC\/USD pair.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/09\/Bitcoin-2.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-500847\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/09\/Bitcoin-2.png?resize=1834%2C845\" alt=\"Bitcoin Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/09\/Bitcoin-2.png?w=1834 1834w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/09\/Bitcoin-2.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/09\/Bitcoin-2.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/09\/Bitcoin-2.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/09\/Bitcoin-2.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/09\/Bitcoin-2.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/09\/Bitcoin-2.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<pre>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/pre>\n<p>The next major resistance sits near the $20,350 and $20,500 levels. A clear move above the $20,500 resistance might send the price towards $21,200. Any more gains might start a steady move towards the $22,000 resistance zone.<\/p>\n<h2>Dips Limited in BTC?<\/h2>\n<p>If bitcoin fails to clear the $20,200 resistance zone, it could start another decline. An immediate support on the downside is near the $19,850 zone.<\/p>\n<p>The next major support sits near the $19,550 level. The main support sits near the $19,500 level. A break below the $19,500 support might start a sharp decline to $19,000. Any more losses might call for a move to $18,500 in the near term.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $19,850, followed by $19,500.<\/p>\n<p>Major Resistance Levels \u2013 $20,200, $20,350 and $20,500.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin is struggling to gain momentum above $20,000 against the US Dollar. BTC could rise steadily if there is a clear move above the $20,200 resistance zone. Bitcoin is stuck near the $20,000 zone and trading below the $20,550 resistance. The price is now trading near the $20,000 level and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $20,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start a steady increase if it clears the $20,200 zone and $20,550 resistance levels. Bitcoin Price Stuck Near $20K Bitcoin price traded in a range and remained well supported above the $19,550 zone. BTC also struggled to clear the $20,500 resistance zone. Recently, there was a fresh drop below the $20,000 level. However, the bulls were active near the $19,500 zone. A low was formed near $19,560 and the price started a decent increase. There was a move above the $19,800 and $20,000 levels. The bulls pushed the price above the 50% Fib retracement level of the recent decline from the $20,473 swing high to $19,560 low. Bitcoin price is now trading near the $20,000 level and the 100 hourly simple moving average. On the upside, an immediate resistance is near the $20,125 level. It is near the 61.8% Fib retracement level of the recent decline from the $20,473 swing high to $19,560 low. There is also a major bearish trend line forming with resistance near $20,200 on the hourly chart of the BTC\/USD pair. Source: BTCUSD on TradingView.com The next major resistance sits near the $20,350 and $20,500 levels. A clear move above the $20,500 resistance might send the price towards $21,200. Any more gains might start a steady move towards the $22,000 resistance zone. Dips Limited in BTC? If bitcoin fails to clear the $20,200 resistance zone, it could start another decline. An immediate support on the downside is near the $19,850 zone. The next major support sits near the $19,550 level. The main support sits near the $19,500 level. A break below the $19,500 support might start a sharp decline to $19,000. Any more losses might call for a move to $18,500 in the near term. Technical indicators: Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level. Major Support Levels \u2013 $19,850, followed by $19,500. Major Resistance Levels \u2013 $20,200, $20,350 and $20,500.<\/p>\n","protected":false},"author":67,"featured_media":462274,"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-500846","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>TA: Bitcoin Price Lacks Momentum Above $20K, But Dips Likely To Be Limited<\/title>\n<meta name=\"description\" content=\"Bitcoin is struggling to gain momentum above $20,000 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":"TA: Bitcoin Price Lacks Momentum Above $20K, But Dips Likely To Be Limited","url":"http:\/\/wncen.com\/news\/bitcoin-price-lacks-momentum-20k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-price-lacks-momentum-20k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/Depositphotos_179514440_s-2019.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/Depositphotos_179514440_s-2019.jpg?fit=1000%2C667"},"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":"2022-09-02T02:28:16Z","datePublished":"2022-09-02T02:28:16Z","dateModified":"2024-06-11T11:43:47Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Bitcoin Price Lacks Momentum Above $20K, But Dips Likely To Be Limited\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-lacks-momentum-20k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-lacks-momentum-20k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/Depositphotos_179514440_s-2019.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/Depositphotos_179514440_s-2019.jpg?fit=1000%2C667\"},\"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\":\"2022-09-02T02:28:16Z\",\"datePublished\":\"2022-09-02T02:28:16Z\",\"dateModified\":\"2024-06-11T11:43:47Z\"}<\/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\/Depositphotos_179514440_s-2019.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/500846"}],"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=500846"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/500846\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/462274"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=500846"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=500846"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=500846"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}