{"id":3887,"date":"2022-06-29T03:36:35","date_gmt":"2022-06-29T03:36:35","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2022\/06\/29\/bitcoin-turns-red-why-btc-could-trade-to-new-monthly-lows\/"},"modified":"2022-06-29T03:36:35","modified_gmt":"2022-06-29T03:36:35","slug":"bitcoin-turns-red-why-btc-could-trade-to-new-monthly-lows","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2022\/06\/29\/bitcoin-turns-red-why-btc-could-trade-to-new-monthly-lows\/","title":{"rendered":"Bitcoin Turns Red, Why BTC Could Trade To New Monthly Lows"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p><em>Bitcoin is struggling beneath the $21,000 zone towards the US Dollar. BTC may proceed to maneuver down until there&#8217;s a clear transfer above the $20,750 resistance zone.<\/em><\/p>\n<ul>\n<li>Bitcoin began a contemporary decline beneath the $21,000 and $20,500 ranges.<\/li>\n<li>The value is now buying and selling beneath the $20,500 stage and the 100 hourly easy shifting common.<\/li>\n<li>There is a serious bearish pattern line forming with resistance close to $20,820 on the hourly chart of the BTC\/USD pair (information feed from Kraken).<\/li>\n<li>The pair may decline additional if there&#8217;s a clear transfer beneath the $20,000 zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Is Sliding<\/h2>\n<p>Bitcoin value remained in a <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/ta-bitcoin-dips-further-why-btc-could-revisit-20k\/\" target=\"_blank\" rel=\"noopener\">bearish zone<\/a> beneath the $21,000 pivot stage. The bulls struggled to push the value greater and there was a bearish response beneath the $20,800 stage.<\/p>\n<p>The value traded beneath the 61.8% Fib retracement stage of the important thing restoration from the $19,750 swing low to $21,780 excessive. The decline was such that the bears even pushed the value beneath the $20,550 and $20,500 assist ranges.<\/p>\n<p>It examined the 76.4% Fib retracement stage of the important thing restoration from the $19,750 swing low to $21,780 excessive. Bitcoin is now buying and selling beneath the $20,500 stage and the <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/ta-bitcoin-dips-could-be-limited-why-100-sma-is-the-key\/\" target=\"_blank\" rel=\"noopener\">100 hourly simple moving average<\/a>.<\/p>\n<p>An speedy resistance on the upside is close to the $20,520 stage. The subsequent key resistance is close to the $20,750 zone. There can be a serious bearish pattern line forming with resistance close to $20,820 on the hourly chart of the BTC\/USD pair.<\/p>\n<p><a href=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/06\/Bitcoin-26.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-494416\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/06\/Bitcoin-26.png\" alt=\"Bitcoin Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/06\/Bitcoin-26.png 1834w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/06\/Bitcoin-26-460x212.png 460w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/06\/Bitcoin-26-860x396.png 860w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/06\/Bitcoin-26-768x354.png 768w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/06\/Bitcoin-26-1536x708.png 1536w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/06\/Bitcoin-26-750x346.png 750w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/06\/Bitcoin-26-1140x525.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>A transparent transfer above the pattern line resistance after which $21,000 may provoke a good enhance. In the acknowledged case, the value may rise above the $21,250 stage. The subsequent main hurdle for the bulls could be close to the $21,750 zone, above which the value might maybe rise in the direction of the $22,500 stage.<\/p>\n<h2>More Losses in BTC?<\/h2>\n<p>If bitcoin fails to clear the $21,000 resistance zone, it may proceed to maneuver down. An speedy assist on the draw back is close to the $20,220 stage.<\/p>\n<p>A draw back break beneath the $20,220 assist zone may push the value additional decrease. The subsequent main assist sits close to the $20,000 zone. Any extra losses may ship the value in the direction of the $18,800 stage or a brand new month-to-month low.<\/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 stage.<\/p>\n<p>Major Support Levels \u2013 $20,220, adopted by $20,000.<\/p>\n<p>Major Resistance Levels \u2013 $20,520, $20,800 and $21,250.<\/p>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-turns-red-20k\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Bitcoin is struggling beneath the $21,000 zone towards the US Dollar. BTC may proceed to maneuver down until there&#8217;s a clear transfer above the $20,750 resistance zone. Bitcoin began a contemporary decline beneath the $21,000 and $20,500 ranges. The value is now buying and selling beneath the $20,500 stage and the 100 hourly easy 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