{"id":5439,"date":"2022-07-26T03:46:45","date_gmt":"2022-07-26T03:46:45","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2022\/07\/26\/bitcoin-price-turns-red-why-btc-could-extend-losses\/"},"modified":"2022-07-26T03:46:46","modified_gmt":"2022-07-26T03:46:46","slug":"bitcoin-price-turns-red-why-btc-could-extend-losses","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2022\/07\/26\/bitcoin-price-turns-red-why-btc-could-extend-losses\/","title":{"rendered":"Bitcoin Price Turns Red, Why BTC Could Extend Losses"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p><em>Bitcoin began a contemporary decline under the $22,000 help towards the US Dollar. BTC is declining and may prolong losses under the $20,500 help zone.<\/em><\/p>\n<ul>\n<li>Bitcoin began a contemporary decline and traded under the $22,000 degree.<\/li>\n<li>The worth is now buying and selling under the $22,000 degree and the 100 hourly easy transferring common.<\/li>\n<li>There is a significant bearish development line forming with resistance close to $21,950 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 under the $20,800 degree.<\/li>\n<\/ul>\n<h2>Bitcoin Price Gains Bearish Momentum<\/h2>\n<p>Bitcoin worth began a <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-risk-drop-21k\/\" target=\"_blank\" rel=\"noopener\">fresh decline<\/a> after it did not clear the $24,000 resistance zone. There was a gentle decline under the $23,500 and $23,000 ranges.<\/p>\n<p>The bears gained power for a transfer under the $22,500 help degree and the <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-could-rally-22500\/\" target=\"_blank\" rel=\"noopener\">100 hourly simple moving average<\/a>. Finally, the value traded under the $21,500 help degree and even spiked under $21,000. A low is fashioned close to $20,994 and the value is now consolidating losses.<\/p>\n<p>On the upside, bitcoin worth might face resistance close to the $21,650 degree. It is close to the 50% Fib retracement degree of the current decline from the $22,250 swing excessive to $20,994 low.<\/p>\n<p>The subsequent key resistance is close to the $22,000 zone. There can be a significant bearish development line forming with resistance close to $21,950 on the hourly chart of the BTC\/USD pair. The development line is close to the 76.4% Fib retracement degree of the current decline from the $22,250 swing excessive to $20,994 low.<\/p>\n<p><a href=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/07\/Bitcoin-19.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-496650\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/07\/Bitcoin-19.png\" alt=\"Bitcoin Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/07\/Bitcoin-19.png 1834w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/07\/Bitcoin-19-460x212.png 460w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/07\/Bitcoin-19-860x396.png 860w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/07\/Bitcoin-19-768x354.png 768w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/07\/Bitcoin-19-1536x708.png 1536w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/07\/Bitcoin-19-750x346.png 750w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/07\/Bitcoin-19-1140x525.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>An in depth above the $22,000 resistance zone might set the tempo for extra positive aspects. In the said case, the value could maybe rise in direction of the $22,500 degree. The subsequent main resistance sits close to the $23,000 degree.<\/p>\n<h2>More Losses in BTC?<\/h2>\n<p>If bitcoin fails to start out a restoration wave above the $21,650 degree, it might proceed to maneuver down. An rapid help on the draw back is close to the $21,000 degree.<\/p>\n<p>The subsequent main help now sits close to the $20,500 degree. A transparent break and shut under the $20,500 help zone may ship the value in direction of $20,000 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 nicely under the 50 degree.<\/p>\n<p>Major Support Levels \u2013 $21,000, adopted by $20,500.<\/p>\n<p>Major Resistance Levels \u2013 $21,650, $22,000 and $22,500.<\/p>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-turns-red-21k\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Bitcoin began a contemporary decline under the $22,000 help towards the US Dollar. BTC is declining and may prolong losses under the $20,500 help zone. Bitcoin began a contemporary decline and traded under the $22,000 degree. The worth is now buying and selling under the $22,000 degree and the 100 hourly easy transferring common. 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