{"id":11768,"date":"2022-10-31T05:06:35","date_gmt":"2022-10-31T05:06:35","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2022\/10\/31\/bitcoin-price-lacking-momentum-above-21k-btc-holders-are-safe-heres-why\/"},"modified":"2022-10-31T05:06:35","modified_gmt":"2022-10-31T05:06:35","slug":"bitcoin-price-lacking-momentum-above-21k-btc-holders-are-safe-heres-why","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2022\/10\/31\/bitcoin-price-lacking-momentum-above-21k-btc-holders-are-safe-heres-why\/","title":{"rendered":"Bitcoin Price Lacking Momentum Above $21k, BTC Holders Are Safe: Here&#8217;s Why"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div wp_automatic_readability=\"88.252601363473\">\n<p><em>Bitcoin value began a draw back correction from $21,000 towards the US Dollar. BTC may begin a contemporary enhance if it stays steady above the $20,000 assist.<\/em><\/p>\n<ul>\n<li>Bitcoin is slowly shifting decrease from the $21,000 resistance zone.<\/li>\n<li>The value is buying and selling under $20,500 and the 100 hourly easy shifting common.<\/li>\n<li>There is a key declining channel forming with resistance close to $20,700 on the hourly chart of the BTC\/USD pair (knowledge feed from Kraken).<\/li>\n<li>The pair may begin one other upward transfer if it stays above the $20,000 assist zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Starts Downside Correction<\/h2>\n<p>Bitcoin value made one other try and clear the <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-btc-could-rise-again\/\" target=\"_blank\" rel=\"noopener\">$21,000 resistance zone<\/a>. However, BTC failed to achieve momentum above the $21,000 resistance zone.<\/p>\n<p>A excessive was fashioned close to $21,074 and the value began a contemporary draw back correction. There was a transfer under the $20,600 and $20,500 ranges. The bears pushed the value under the 50% Fib retracement degree of the upward transfer from the $20,029 swing low to $21,074 excessive.<\/p>\n<p>Bitcoin value is now buying and selling under $20,500 and the <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-grinds-higher-25k\/\" target=\"_blank\" rel=\"noopener\">100 hourly simple moving average<\/a>. There can be a key declining channel forming with resistance close to $20,700 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>The value is now holding the $20,450 assist zone. It is near the 61.8% Fib retracement degree of the upward transfer from the $20,029 swing low to $21,074 excessive. On the upside, a right away resistance is close to the $20,600 zone and the 100 hourly easy shifting common.<\/p>\n<p><a href=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/10\/Bitcoin-24.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-508628\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/10\/Bitcoin-24.png\" alt=\"Bitcoin Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/10\/Bitcoin-24.png 1834w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/10\/Bitcoin-24-460x212.png 460w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/10\/Bitcoin-24-860x396.png 860w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/10\/Bitcoin-24-768x354.png 768w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/10\/Bitcoin-24-1536x708.png 1536w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/10\/Bitcoin-24-750x346.png 750w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/10\/Bitcoin-24-1140x525.png 1140w\" sizes=\"auto, (max-width: 1834px) 100vw, 1834px\"\/><\/a><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener\">BTCUSD on TradingView.com<\/a><\/p>\n<p>The first main resistance sits close to the $20,700 degree and the channel development line. The subsequent main resistance remains to be close to $21,000. A transparent transfer above the $21,000 resistance may begin a gentle enhance in the direction of the $22,000 resistance. Any extra positive aspects open the doorways for a take a look at of the $22,500 resistance zone.<\/p>\n<h2>More Losses in BTC?<\/h2>\n<p>If bitcoin fails to rise above the $20,700 resistance zone, it may proceed to maneuver down. An instant assist on the draw back is close to the $20,450 zone.<\/p>\n<p>The subsequent main assist is close to the $20,200 zone. The most important assist sits at $20,000. A draw back break and shut under $20,000 may open the doorways for a considerable decline within the close to time period.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining tempo within the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now under the 50 degree.<\/p>\n<p>Major Support Levels \u2013 $20,200, adopted by $20,000.<\/p>\n<p>Major Resistance Levels \u2013 $20,600, $20,700 and $21,000.<\/p>\n<\/p><\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-lacking-momentum-21k\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Bitcoin value began a draw back correction from $21,000 towards the US Dollar. BTC may begin a contemporary enhance if it stays steady above the $20,000 assist. Bitcoin is slowly shifting decrease from the $21,000 resistance zone. The value is buying and selling under $20,500 and the 100 hourly easy shifting common. There is 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