{"id":3124,"date":"2022-06-17T04:55:49","date_gmt":"2022-06-17T04:55:49","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2022\/06\/17\/bitcoin-remains-in-downtrend-risk-of-drop-below-20k\/"},"modified":"2022-06-17T04:55:49","modified_gmt":"2022-06-17T04:55:49","slug":"bitcoin-remains-in-downtrend-risk-of-drop-below-20k","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2022\/06\/17\/bitcoin-remains-in-downtrend-risk-of-drop-below-20k\/","title":{"rendered":"Bitcoin Remains In Downtrend, Risk of Drop Below $20K"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p><em>Bitcoin didn&#8217;t get better above $23,000 towards the US Dollar. BTC began a contemporary decline and stays at a threat of a transfer under the $20,000 assist.<\/em><\/p>\n<ul>\n<li>Bitcoin didn&#8217;t climb above $23,000 and began a contemporary decline.<\/li>\n<li>The worth is now buying and selling under the $22,000 stage and the 100 hourly easy shifting common.<\/li>\n<li>There is a brand new connecting bearish pattern line forming with resistance close to $20,850 on the hourly chart of the BTC\/USD pair (knowledge feed from Kraken).<\/li>\n<li>The pair stays at a threat of a transfer under the $20,000 assist zone within the close to time period.<\/li>\n<\/ul>\n<h2>Bitcoin Price Revisits $20K<\/h2>\n<p>Bitcoin worth tried a contemporary enhance above the $22,000 stage. However, the bears have been energetic close to the $22,800 and $23,000 ranges. A excessive was shaped close to $22,950 and the worth began a <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-signs-of-recovery-23k\/\" target=\"_blank\" rel=\"noopener\">fresh decline<\/a>.<\/p>\n<p>There was a transparent transfer under the $21,500 stage and the worth settled under the <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-drops-20-pc-20k\/\" target=\"_blank\" rel=\"noopener\">100 hourly simple moving average<\/a>. The worth even declined under the $21,000 stage and traded near the $20,000 assist zone. A low was shaped close to $20,200 and the worth is now trying an upside correction.<\/p>\n<p>There was a transfer above the $20,500 resistance stage. Bitcoin is now testing the 23.6% Fib retracement stage of the latest decline from the $22,950 excessive to $20,200 low.<\/p>\n<p>There can be a brand new connecting bearish pattern line forming with resistance close to $20,850 on the hourly chart of the BTC\/USD pair. An speedy resistance on the upside is close to the $21,000 stage. The first main resistance is close to the $21,550 stage.<\/p>\n<p><a href=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/06\/Bitcoin-13.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-493336\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/06\/Bitcoin-13.png\" alt=\"Bitcoin Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/06\/Bitcoin-13.png 1834w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/06\/Bitcoin-13-460x212.png 460w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/06\/Bitcoin-13-860x396.png 860w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/06\/Bitcoin-13-768x354.png 768w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/06\/Bitcoin-13-1536x708.png 1536w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/06\/Bitcoin-13-750x346.png 750w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/06\/Bitcoin-13-1140x525.png 1140w\" sizes=\"auto, (max-width: 1834px) 100vw, 1834px\"\/><\/a><\/p>\n<pre>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener\">BTCUSD on TradingView.com<\/a><\/pre>\n<p>The 50% Fib retracement stage of the latest decline from the $22,950 excessive to $20,200 low can be close to the $21,550 stage. Any extra positive aspects may ship the worth in direction of the $22,300 stage or the 100 hourly easy shifting common. The primary resistance remains to be close to the $23,000 stage.<\/p>\n<h2>Fresh Decline in BTC?<\/h2>\n<p>If bitcoin fails to clear the $22,000 resistance zone and the pattern line, it may begin a contemporary decline. An speedy assist on the draw back is close to the $20,200 stage.<\/p>\n<p>The subsequent main assist is close to the $20,000 stage. A draw back break under the $20,000 assist may spark a pointy decline. In the said case, the worth may check $18,800.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now shedding tempo within the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now under the 50 stage.<\/p>\n<p>Major Support Levels \u2013 $20,200, adopted by $20,000.<\/p>\n<p>Major Resistance Levels \u2013 $21,550, $22,300 and $23,000.<\/p>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-remains-in-downtrend-20k\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Bitcoin didn&#8217;t get better above $23,000 towards the US Dollar. BTC began a contemporary decline and stays at a threat of a transfer under the $20,000 assist. Bitcoin didn&#8217;t climb above $23,000 and began a contemporary decline. The worth is now buying and selling under the $22,000 stage and the 100 hourly easy shifting 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