{"id":7536,"date":"2022-08-29T02:53:13","date_gmt":"2022-08-29T02:53:13","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2022\/08\/29\/bitcoin-price-dives-below-20k-why-btc-is-vulnerable-to-more-losses\/"},"modified":"2022-08-29T02:53:13","modified_gmt":"2022-08-29T02:53:13","slug":"bitcoin-price-dives-below-20k-why-btc-is-vulnerable-to-more-losses","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2022\/08\/29\/bitcoin-price-dives-below-20k-why-btc-is-vulnerable-to-more-losses\/","title":{"rendered":"Bitcoin Price Dives Below $20K, Why BTC Is Vulnerable To More Losses"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p><em>Bitcoin began a serious decline and traded under $20,000 towards the US Dollar. BTC stays at a danger of extra losses except it recovers above $20,000.<\/em><\/p>\n<ul>\n<li>Bitcoin began one other decline under the $20,200 and $20,000 ranges.<\/li>\n<li>The value is now buying and selling under the $20,000 stage and the 100 hourly easy shifting common.<\/li>\n<li>There is a key bearish development line forming with resistance close to $20,000 on the hourly chart of the BTC\/USD pair (information feed from Kraken).<\/li>\n<li>The pair may speed up additional decrease under the $19,500 assist zone within the coming classes.<\/li>\n<\/ul>\n<h2>Bitcoin Price Takes Hit<\/h2>\n<p>Bitcoin value didn&#8217;t get well above the <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-struggle-22k\/\" target=\"_blank\" rel=\"noopener\">$22,000 resistance zone<\/a>. BTC began a contemporary decline under the $21,200 and $21,000 assist ranges.<\/p>\n<p>The bears gained power for a push under the $20,000 assist zone. The value settled under the $20,000 stage and the <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-another-decline-22k\/\" target=\"_blank\" rel=\"noopener\">100 hourly simple moving average<\/a>. A low is shaped close to $19,525 and the worth is now consolidating losses.<\/p>\n<p>On the upside, a direct resistance is close to the $19,800 stage. The first main resistance sits close to the $20,000 stage. It is close to the 23.6% Fib retracement stage of the downward transfer from the $21,875 swing excessive to $19,525 low.<\/p>\n<p>Besides, there&#8217;s a key bearish development line forming with resistance close to $20,000 on the hourly chart of the BTC\/USD pair. Bitcoin value should clear the $20,000 resistance zone to begin a restoration wave.<\/p>\n<p><a href=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/08\/Bitcoin-20.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-500313\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/08\/Bitcoin-20.png\" alt=\"Bitcoin Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/08\/Bitcoin-20.png 1834w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/08\/Bitcoin-20-460x212.png 460w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/08\/Bitcoin-20-860x396.png 860w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/08\/Bitcoin-20-768x354.png 768w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/08\/Bitcoin-20-1536x708.png 1536w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/08\/Bitcoin-20-750x346.png 750w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/08\/Bitcoin-20-1140x525.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 subsequent main resistance may very well be close to the $20,700 zone. It is near the 50% Fib retracement stage of the downward transfer from the $21,875 swing excessive to $19,525 low. Any extra beneficial properties may ship the worth in the direction of the $21,000 resistance zone.<\/p>\n<h2>More Losses in BTC?<\/h2>\n<p>If bitcoin fails to clear the $20,000 resistance zone, it may proceed to maneuver down. An rapid assist on the draw back is close to the $19,500 stage and the current low.<\/p>\n<p>The subsequent main assist sits close to the $19,200 stage. An in depth under the $19,200 assist may spark a pointy decline. In the said case, the worth may decline in the direction of the $18,500 stage within the coming classes.<\/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 stage.<\/p>\n<p>Major Support Levels \u2013 $19,500, adopted by $19,200.<\/p>\n<p>Major Resistance Levels \u2013 $19,800, $20,000 and $21,000.<\/p>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-dives-below-20k\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Bitcoin began a serious decline and traded under $20,000 towards the US Dollar. BTC stays at a danger of extra losses except it recovers above $20,000. Bitcoin began one other decline under the $20,200 and $20,000 ranges. The value is now buying and selling under the $20,000 stage and the 100 hourly easy shifting 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