{"id":8105,"date":"2022-09-07T02:28:35","date_gmt":"2022-09-07T02:28:35","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2022\/09\/07\/bitcoin-price-breakdown-looks-real-why-btc-could-dive-to-18k\/"},"modified":"2022-09-07T02:28:35","modified_gmt":"2022-09-07T02:28:35","slug":"bitcoin-price-breakdown-looks-real-why-btc-could-dive-to-18k","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2022\/09\/07\/bitcoin-price-breakdown-looks-real-why-btc-could-dive-to-18k\/","title":{"rendered":"Bitcoin Price Breakdown Looks Real, Why BTC Could Dive To $18K"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div wp_automatic_readability=\"88.749219968799\">\n<p><em>Bitcoin broke the important thing $19,500 help towards the US Dollar. BTC is exhibiting bearish indicators and stays at a danger of a transfer in direction of the $18,000 degree.<\/em><\/p>\n<ul>\n<li>Bitcoin failed to begin a recent improve and declined under the $19,500 help.<\/li>\n<li>The value is now buying and selling under the $19,000 degree and the 100 hourly easy transferring common.<\/li>\n<li>There is a connecting bearish pattern line forming with resistance close to $19,420 on the hourly chart of the BTC\/USD pair (knowledge feed from Kraken).<\/li>\n<li>The pair might right increased, however upsides is perhaps restricted above $19,500.<\/li>\n<\/ul>\n<h2>Bitcoin Price Takes A Hit<\/h2>\n<p>Bitcoin value failed to achieve tempo for a transfer above the <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-holds-strong-20k\/\" target=\"_blank\" rel=\"noopener\">$20,500 and $20,550 resistance levels<\/a>. There have been many failed makes an attempt, sparking a draw back response under the important thing $19,500 help zone.<\/p>\n<p>There was a <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-risk-of-breakdown-20k\/\" target=\"_blank\" rel=\"noopener\">sharp decline below the $19,500 support<\/a> and the 100 hourly easy transferring common. The value declined under the $19,200 and $19,000 ranges. A low is shaped close to $18,670 and the value is now consolidating losses.<\/p>\n<p>It is now buying and selling under the $19,000 degree and the 100 hourly easy transferring common. On the upside, a direct resistance is close to the $19,000 degree. It is close to the 23.6% Fib retracement degree of the latest decline from the $20,171 swing excessive to $18,670 low.<\/p>\n<p>The subsequent main resistance sits close to the $19,400 degree. There can be a connecting bearish pattern line forming with resistance close to $19,420 on the hourly chart of the BTC\/USD pair.<\/p>\n<p><a href=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Bitcoin-6.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-501327\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Bitcoin-6.png\" alt=\"Bitcoin Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Bitcoin-6.png 1834w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Bitcoin-6-460x212.png 460w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Bitcoin-6-860x396.png 860w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Bitcoin-6-768x354.png 768w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Bitcoin-6-1536x708.png 1536w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Bitcoin-6-750x346.png 750w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Bitcoin-6-1140x525.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 pattern line is close to the 50% Fib retracement degree of the latest decline from the $20,171 swing excessive to $18,670 low. Any extra beneficial properties would possibly ship the value in direction of the $19,800 resistance zone and the 100 hourly easy transferring common.<\/p>\n<h2>More Losses in BTC?<\/h2>\n<p>If bitcoin fails to begin a restoration wave above the $19,000 zone, it might proceed to maneuver down. An instant help on the draw back is close to the $18,650 zone.<\/p>\n<p>The subsequent main help sits close to the $18,500 degree. A draw back break under the $18,500 help would possibly spark extra downsides. In the acknowledged case, the value could maybe check the $18,000 help.<\/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 degree.<\/p>\n<p>Major Support Levels \u2013 $18,650, adopted by $18,500.<\/p>\n<p>Major Resistance Levels \u2013 $19,000, $19,400 and $19,500.<\/p>\n<\/p><\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-breakdown-18k\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Bitcoin broke the important thing $19,500 help towards the US Dollar. BTC is exhibiting bearish indicators and stays at a danger of a transfer in direction of the $18,000 degree. Bitcoin failed to begin a recent improve and declined under the $19,500 help. The value is now buying and selling under the $19,000 degree 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