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Bitcoin prolonged losses under the $21,000 help in opposition to the US Dollar. BTC is consolidating and any upsides may face hurdles close to $21,500.

• Bitcoin remained in a bearish zone and traded under the $21,000 stage.
• The worth is now buying and selling under the $21,500 stage and the 100 hourly easy transferring common.
• There is a key bearish pattern line forming with resistance close to $21,650 on the hourly chart of the BTC/USD pair (information feed from Kraken).
• The pair may right greater however upsides is likely to be restricted above $21,500.

Bitcoin Price Remains In A Bearish Zone

Bitcoin worth remained in a bearish zone after it settled under the $22,000 help zone. It consolidated close to the $21,000 zone for a while earlier than there have been extra losses.

The worth declined under the $21,000 stage however downsides had been restricted. A low is shaped close to $20,750 and the worth is now consolidating losses. It is now buying and selling under the $21,500 stage and the 100 hourly simple moving average.

There was a minor upside above the $21,000 stage. The worth cleared the 23.6% Fib retracement stage of the latest drop from the $22,250 swing excessive to $20,750 low.

On the upside, bitcoin worth might face resistance close to the $21,500 stage. It is close to the 50% Fib retracement stage of the latest drop from the $22,250 swing excessive to $20,750 low. The subsequent key resistance is close to the $21,650 zone. There can be a key bearish pattern line forming with resistance close to $21,650 on the hourly chart of the BTC/USD pair.

Source: BTCUSD on TradingView.com

A detailed above the $21,650 resistance zone might set the tempo for a good improve. In the said case, the worth could maybe rise in the direction of the $22,000 stage. The subsequent main resistance sits close to the $22,500 stage.

More Losses in BTC?

If bitcoin fails to start out a restoration wave above the $21,500 stage, it might proceed to maneuver down. An instant help on the draw back is close to the $21,000 stage.

The subsequent main help now sits close to the $20,750 and $20,500 ranges. A detailed under the $20,500 help zone may improve promoting stress and the worth may check $20,000 within the close to time period.

Technical indicators:

Hourly MACD – The MACD is now shedding tempo within the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now close to the 50 stage.

Major Support Levels – $21,000, adopted by $20,750.

Major Resistance Levels – $21,500, $21,650 and $22,000.