{"id":27044,"date":"2023-08-17T04:02:30","date_gmt":"2023-08-17T04:02:30","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2023\/08\/17\/bitcoin-price-plunges-again-and-now-vulnerable-to-more-losses\/"},"modified":"2023-08-17T04:02:30","modified_gmt":"2023-08-17T04:02:30","slug":"bitcoin-price-plunges-again-and-now-vulnerable-to-more-losses","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2023\/08\/17\/bitcoin-price-plunges-again-and-now-vulnerable-to-more-losses\/","title":{"rendered":"Bitcoin Price Plunges Again And Now Vulnerable To More Losses"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p><em>Bitcoin worth gained bearish momentum beneath the $29,000 assist. BTC examined $28,400 and now vulnerable to extra losses beneath $28,200.<\/em><\/p>\n<ul>\n<li>Bitcoin is buying and selling with a bearish angle beneath the $29,250 resistance zone.<\/li>\n<li>The worth is buying and selling beneath $29,000 and the 100 hourly Simple transferring common.<\/li>\n<li>There is a significant bearish development line forming with resistance close to $28,850 on the hourly chart of the BTC\/USD pair (knowledge feed from Kraken).<\/li>\n<li>The pair may proceed to maneuver down and commerce beneath the $28,200 assist.<\/li>\n<\/ul>\n<h2>Bitcoin Price Takes Hit<\/h2>\n<p>Bitcoin worth remained in a bearish zone beneath the <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-losses-29000\/\" target=\"_blank\" rel=\"noopener\">$29,250 resistance zone<\/a>. BTC began one other decline and traded beneath the important thing $29,000 assist zone.<\/p>\n<p>It opened the doorways for a pointy decline and the worth dropped beneath $28,500. A low is shaped close to $28,350 and the worth is now consolidating losses. It is buying and selling close to 23.6% Fib retracement degree of the current drop from the $29,182 swing excessive to the $28,350 low.<\/p>\n<p>Bitcoin is now buying and selling beneath $29,000 and the <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-muted-29650\/\" target=\"_blank\" rel=\"noopener\">100 hourly Simple moving average<\/a>. There can be a significant bearish development line forming with resistance close to $28,850 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>Immediate resistance is close to the $28,750 degree. The subsequent main resistance is close to $28,850 and the development line. It is near the 61.8% Fib retracement degree of the current drop from the $29,182 swing excessive to the $28,350 low. The major resistance is now forming close to the $29,000 zone and the 100 hourly Simple transferring common.<\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-547599\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/08\/Bitcoin-9.png?resize=1024%2C468\" alt=\"Bitcoin Price \" width=\"1024\" height=\"468\" srcset=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/08\/Bitcoin-9.png?resize=1024%2C468?w=1835 1835w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/08\/Bitcoin-9.png?resize=1024%2C468?w=460 460w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/08\/Bitcoin-9.png?resize=1024%2C468?w=768 768w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/08\/Bitcoin-9.png?resize=1024%2C468?w=860 860w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/08\/Bitcoin-9.png?resize=1024%2C468?w=1536 1536w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/08\/Bitcoin-9.png?resize=1024%2C468?w=750 750w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/08\/Bitcoin-9.png?resize=1024%2C468?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" loading=\"lazy\" data-recalc-dims=\"1\"\/><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener\">BTCUSD on TradingView.com<\/a><\/p>\n<p>A detailed above the $29,000 resistance may begin an honest enhance towards the $29,500 resistance zone. Any extra positive aspects may set the tempo for a bigger enhance towards $30,000.<\/p>\n<h2>More Losses In BTC?<\/h2>\n<p>If Bitcoin fails to clear the $28,850 resistance, it may proceed to maneuver down. Immediate assist on the draw back is close to the $28,400 zone.<\/p>\n<p>The subsequent main assist is close to the $28,200 degree. A draw back break beneath the $28,200 degree may push the worth additional right into a bearish zone. In the said case, the worth may drop towards $27,500.<\/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 beneath the 50 degree.<\/p>\n<p>Major Support Levels \u2013 $28,400, adopted by $28,200.<\/p>\n<p>Major Resistance Levels \u2013 $28,750, $28,850, and $29,000.<\/p>\n<\/p><\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-plunges-28400\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Bitcoin worth gained bearish momentum beneath the $29,000 assist. BTC examined $28,400 and now vulnerable to extra losses beneath $28,200. Bitcoin is buying and selling with a bearish angle beneath the $29,250 resistance zone. The worth is buying and selling beneath $29,000 and the 100 hourly Simple transferring common. There is a significant bearish 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