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Bitcoin worth is going through a significant hurdle close to the $21,500 zone. BTC may appropriate decrease if there’s a clear transfer beneath the $20,500 assist zone.

• Bitcoin appears to be going through a significant problem close to the $21,450 and $21,500 ranges.
• The worth is buying and selling above $20,600 and the 100 hourly easy transferring common.
• There was a break beneath a significant bullish development line with assist close to $21,100 on the hourly chart of the BTC/USD pair (information feed from Kraken).
• The pair may begin a draw back correction beneath the $20,800 and $20,500 assist ranges.

Bitcoin Price Keeps Struggling

Bitcoin worth tried an upside break above the $21,500 resistance zone. However, BTC failed to achieve tempo above the $21,500 zone. A excessive was fashioned close to $21,679 and the worth is now slowly transferring decrease.

There was a break beneath the $21,250 stage. The worth declined beneath the 23.6% Fib retracement stage of the latest improve from the $20,620 swing low to $21,679 excessive. There was a break beneath a significant bullish development line with assist close to $21,100 on the hourly chart of the BTC/USD pair.

Bitcoin worth is now buying and selling above $20,600 and the 100 hourly simple moving average. If there may be one other upside break try, an instantaneous resistance is close to the $21,450 stage. The subsequent main resistance is close to the $21,500 zone, above which the worth may acquire bullish momentum.

Source: BTCUSD on TradingView.com

In the said case, the worth could maybe rise in direction of the $21,800 stage. Any extra features may ship btc worth in direction of the $22,000 stage.

Downside Correction in BTC?

If bitcoin worth fails to clear the $21,500 resistance, it may proceed to maneuver down. An quick assist on the draw back is close to the $21,100 zone.

The subsequent main assist is close to the $20,900 zone and the 100 hourly SMA. It is close to the 61.8% Fib retracement stage of the latest improve from the $20,620 swing low to $21,679 excessive. The foremost assist is now forming close to the $20,500 stage, beneath which the worth may speed up decrease in direction of $20,000. Any extra losses may ship the worth to $19,500.

Technical indicators:

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

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

Major Support Levels – $20,900, adopted by $20,500.

Major Resistance Levels – $21,450, $21,500 and $22,000.