{"id":505862,"date":"2022-10-12T02:48:01","date_gmt":"2022-10-12T02:48:01","guid":{"rendered":"https:\/\/wncen.com\/?p=505862"},"modified":"2024-06-11T14:27:23","modified_gmt":"2024-06-11T14:27:23","slug":"bitcoin-price-bears-target-weakness","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-bears-target-weakness\/","title":{"rendered":"Bitcoin Price Recovery Won\u2019t Be Easy, Why Bears Target Additional Weakness"},"content":{"rendered":"<p><em>Bitcoin price is struggling below the $19,200 support against the US Dollar. BTC remains at a risk of more losses below the $18,500 support in the near term.<\/em><\/p>\n<ul>\n<li>Bitcoin is showing bearish signs below the $19,200 and $19,500 levels.<\/li>\n<li>The price is trading below above $19,500 and the 100 hourly simple moving average.<\/li>\n<li>There is a key bearish trend line forming with resistance near $19,180 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could continue to move down if it stays below the $19,500 level for a long time.<\/li>\n<\/ul>\n<h2>Bitcoin Price Slides Further<\/h2>\n<p>Bitcoin price <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-slides-russia-ukraine-war\/\" target=\"_blank\" rel=\"noopener \">settled below the $20,000 support zone<\/a>. BTC is following a slow and steady decline below the $19,500 pivot level and the 100 hourly simple moving average.<\/p>\n<p>The price even traded below yesterday\u2019s low and tested the $18,850 zone. A low is formed near $18,860 and the price is now consolidating losses. There was a minor recovery wave above the $19,000 resistance level. The price climbed above the 23.6% Fib retracement level of the recent decline from the $19,560 swing high to $18,860 low.<\/p>\n<p>Bitcoin price is now trading below above $19,500 and the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-supports-to-watch-19250\/\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>. On the upside, an immediate resistance is near the $19,200 level.<\/p>\n<p>There is also a key bearish trend line forming with resistance near $19,180 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 $19,560 swing high to $18,860 low.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-8.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-505863\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-8.png?resize=1834%2C845\" alt=\"Bitcoin Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-8.png?w=1834 1834w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-8.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-8.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-8.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-8.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-8.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Bitcoin-8.png?w=1140 1140w\" sizes=\"auto, (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>A clear move above the trend line might send the price towards the 100 hourly simple moving average or the $19,500 resistance. Any more gains might send the price towards the $20,000 resistance zone.<\/p>\n<h2>More Losses in BTC?<\/h2>\n<p>If bitcoin fails to recover above the $19,200 resistance zone, it could continue to move down. An immediate support on the downside is near the $18,850 zone.<\/p>\n<p>The next major support is near the $18,550 zone. A downside break below the $18,550 support zone might trigger another sharp decline. In the stated case, there is a risk of a move towards the $17,800 support zone.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now near the 50 level.<\/p>\n<p>Major Support Levels \u2013 $18,850, followed by $18,550.<\/p>\n<p>Major Resistance Levels \u2013 $19,200, $19,500 and $20,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is struggling below the $19,200 support against the US Dollar. BTC remains at a risk of more losses below the $18,500 support in the near term. Bitcoin is showing bearish signs below the $19,200 and $19,500 levels. The price is trading below above $19,500 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $19,180 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could continue to move down if it stays below the $19,500 level for a long time. Bitcoin Price Slides Further Bitcoin price settled below the $20,000 support zone. BTC is following a slow and steady decline below the $19,500 pivot level and the 100 hourly simple moving average. The price even traded below yesterday\u2019s low and tested the $18,850 zone. A low is formed near $18,860 and the price is now consolidating losses. There was a minor recovery wave above the $19,000 resistance level. The price climbed above the 23.6% Fib retracement level of the recent decline from the $19,560 swing high to $18,860 low. Bitcoin price is now trading below above $19,500 and the 100 hourly simple moving average. On the upside, an immediate resistance is near the $19,200 level. There is also a key bearish trend line forming with resistance near $19,180 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 $19,560 swing high to $18,860 low. Source: BTCUSD on TradingView.com A clear move above the trend line might send the price towards the 100 hourly simple moving average or the $19,500 resistance. Any more gains might send the price towards the $20,000 resistance zone. More Losses in BTC? If bitcoin fails to recover above the $19,200 resistance zone, it could continue to move down. An immediate support on the downside is near the $18,850 zone. The next major support is near the $18,550 zone. A downside break below the $18,550 support zone might trigger another sharp decline. In the stated case, there is a risk of a move towards the $17,800 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 near the 50 level. Major Support Levels \u2013 $18,850, followed by $18,550. Major Resistance Levels \u2013 $19,200, $19,500 and $20,000.<\/p>\n","protected":false},"author":67,"featured_media":449777,"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-505862","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 Recovery Won\u2019t Be Easy, Why Bears Target Additional Weakness<\/title>\n<meta name=\"description\" content=\"Bitcoin price is struggling below the $19,200 support 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 Recovery Won\u2019t Be Easy, Why Bears Target Additional Weakness","url":"http:\/\/wncen.com\/news\/bitcoin-price-bears-target-weakness\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-price-bears-target-weakness\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/11\/shutterstock_1121540051.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/11\/shutterstock_1121540051.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":"2022-10-12T02:48:01Z","datePublished":"2022-10-12T02:48:01Z","dateModified":"2024-06-11T14:27:23Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Recovery Won\\u2019t Be Easy, Why Bears Target Additional Weakness\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-bears-target-weakness\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-bears-target-weakness\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/11\\\/shutterstock_1121540051.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/11\\\/shutterstock_1121540051.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\":\"2022-10-12T02:48:01Z\",\"datePublished\":\"2022-10-12T02:48:01Z\",\"dateModified\":\"2024-06-11T14:27:23Z\"}<\/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\/2020\/11\/shutterstock_1121540051.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/505862","targetHints":{"allow":["GET"]}}],"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=505862"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/505862\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/449777"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=505862"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=505862"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=505862"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}