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Bitcoin value is slowly shifting decrease under the $19,200 help in opposition to the US Dollar. BTC may slide additional if there may be additional escalation in Russia-Ukraine conflict scenario.

• Bitcoin is slowly shifting decrease under the $19,200 and $19,000 ranges.
• The value is buying and selling under above $19,500 and the 100 hourly easy shifting common.
• There is a connecting bearish development line forming with resistance close to $19,260 on the hourly chart of the BTC/USD pair (knowledge feed from Kraken).
• The pair may proceed to maneuver down if there’s a clear transfer under the $18,920 help.

Bitcoin Price Slides

Bitcoin value remained in a bearish zone below the $20,000 support zone. BTC slowly moved and settled under the $19,500 help plus the 100 hourly easy shifting common.

There was a transparent transfer under the $19,200 help zone, rising stress on the bulls. Finally, the worth moved under the $19,000 degree and traded as little as $18,970. The value is now consolidating losses close to the $19,000 pivot degree.

Bitcoin value is buying and selling under above $19,500 and the 100 hourly simple moving average. There can also be a connecting bearish development line forming with resistance close to $19,260 on the hourly chart of the BTC/USD pair.

On the upside, a right away resistance is close to the $19,110 degree. It is close to the 23.6% Fib retracement degree of the latest decline from the $19,559 swing excessive to $18,970 low. The subsequent main resistance sits close to the $19,260 zone and the development line.

The development line is near the 50% Fib retracement degree of the latest decline from the $19,559 swing excessive to $18,970 low. A transparent transfer above the development line may ship the worth in the direction of the $19,500 resistance or the 100 hourly easy shifting common.

Source: BTCUSD on TradingView.com

Any extra features may ship the worth above the $19,600 resistance. In the acknowledged case, the worth may rise in the direction of the $20,000 resistance degree.

More Losses in BTC?

If bitcoin fails to rise above the $19,260 resistance zone, it may proceed to maneuver down. An rapid help on the draw back is close to the $19,000 zone.

The subsequent main help is close to the $18,920 zone. A draw back break under the $18,920 help zone may name for extra losses. In the acknowledged case, there’s a danger of a transfer in the direction of the $18,500 help zone.

Technical indicators:

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

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now under the 50 degree.

Major Support Levels – $19,000, adopted by $18,500.

Major Resistance Levels – $19,260, $19,500 and $20,000.