{"id":7824,"date":"2022-09-02T02:57:00","date_gmt":"2022-09-02T02:57:00","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2022\/09\/02\/bitcoin-price-lacks-momentum-above-20k-but-dips-likely-to-be-limited\/"},"modified":"2022-09-02T02:57:01","modified_gmt":"2022-09-02T02:57:01","slug":"bitcoin-price-lacks-momentum-above-20k-but-dips-likely-to-be-limited","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2022\/09\/02\/bitcoin-price-lacks-momentum-above-20k-but-dips-likely-to-be-limited\/","title":{"rendered":"Bitcoin Price Lacks Momentum Above $20K, But Dips Likely To Be Limited"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p><em>Bitcoin is struggling to realize momentum above $20,000 towards the US Dollar. BTC may rise steadily if there&#8217;s a clear transfer above the $20,200 resistance zone.<\/em><\/p>\n<ul>\n<li>Bitcoin is caught close to the $20,000 zone and buying and selling under the $20,550 resistance.<\/li>\n<li>The worth is now buying and selling close to the $20,000 stage and the 100 hourly easy transferring common.<\/li>\n<li>There is a serious bearish pattern line forming with resistance close to $20,200 on the hourly chart of the BTC\/USD pair (knowledge feed from Kraken).<\/li>\n<li>The pair may begin a gentle enhance if it clears the $20,200 zone and $20,550 resistance ranges.<\/li>\n<\/ul>\n<h2>Bitcoin Price Stuck Near $20K<\/h2>\n<p>Bitcoin worth traded in a variety and <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-btc-make-or-break-levels-20k\/\" target=\"_blank\" rel=\"noopener\">remained well supported above the $19,550 zone<\/a>. BTC additionally struggled to clear the $20,500 resistance zone.<\/p>\n<p>Recently, there was a contemporary drop under the $20,000 stage. However, the bulls had been energetic close to the $19,500 zone. A low was shaped close to $19,560 and the value began a good enhance. There was a transfer above the $19,800 and $20,000 ranges.<\/p>\n<p>The bulls pushed the value above the 50% Fib retracement stage of the latest decline from the $20,473 swing excessive to $19,560 low. Bitcoin worth is now buying and selling close to the $20,000 stage and the <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-correction-to-22k\/\" target=\"_blank\" rel=\"noopener\">100 hourly simple moving average<\/a>.<\/p>\n<p>On the upside, an instantaneous resistance is close to the $20,125 stage. It is close to the 61.8% Fib retracement stage of the latest decline from the $20,473 swing excessive to $19,560 low. There can also be a serious bearish pattern line forming with resistance close to $20,200 on the hourly chart of the BTC\/USD pair.<\/p>\n<p><a href=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Bitcoin-2.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-500847\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Bitcoin-2.png\" alt=\"Bitcoin Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Bitcoin-2.png 1834w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Bitcoin-2-460x212.png 460w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Bitcoin-2-860x396.png 860w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Bitcoin-2-768x354.png 768w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Bitcoin-2-1536x708.png 1536w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Bitcoin-2-750x346.png 750w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Bitcoin-2-1140x525.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 sits close to the $20,350 and $20,500 ranges. A transparent transfer above the $20,500 resistance may ship the value in the direction of $21,200. Any extra beneficial properties may begin a gentle transfer in the direction of the $22,000 resistance zone.<\/p>\n<h2>Dips Limited in BTC?<\/h2>\n<p>If bitcoin fails to clear the $20,200 resistance zone, it may begin one other decline. An rapid help on the draw back is close to the $19,850 zone.<\/p>\n<p>The subsequent main help sits close to the $19,550 stage. The principal help sits close to the $19,500 stage. A break under the $19,500 help may begin a pointy decline to $19,000. Any extra losses may name for a transfer to $18,500 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 bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 stage.<\/p>\n<p>Major Support Levels \u2013 $19,850, adopted by $19,500.<\/p>\n<p>Major Resistance Levels \u2013 $20,200, $20,350 and $20,500.<\/p>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-lacks-momentum-20k\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Bitcoin is struggling to realize momentum above $20,000 towards the US Dollar. BTC may rise steadily if there&#8217;s a clear transfer above the $20,200 resistance zone. Bitcoin is caught close to the $20,000 zone and buying and selling under the $20,550 resistance. The worth is now buying and selling close to the $20,000 stage 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