{"id":9050,"date":"2022-09-21T02:47:09","date_gmt":"2022-09-21T02:47:09","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2022\/09\/21\/bitcoin-price-stuck-below-resistance-why-bears-could-aim-more-losses\/"},"modified":"2022-09-21T02:47:09","modified_gmt":"2022-09-21T02:47:09","slug":"bitcoin-price-stuck-below-resistance-why-bears-could-aim-more-losses","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2022\/09\/21\/bitcoin-price-stuck-below-resistance-why-bears-could-aim-more-losses\/","title":{"rendered":"Bitcoin Price Stuck Below Resistance, Why Bears Could Aim More Losses"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div wp_automatic_readability=\"96.888888888889\">\n<p><em>Bitcoin began an upside correction above $19,000 in opposition to the US Dollar. BTC is now dealing with a robust resistance close to the $19,350 and $19,500 ranges.<\/em><\/p>\n<ul>\n<li>Bitcoin is making an attempt an upside correction above the $19,000 degree.<\/li>\n<li>The value continues to be buying and selling beneath $19,500 and the 100 hourly easy transferring common.<\/li>\n<li>There is a serious bearish pattern line forming with resistance close to $19,420 on the hourly chart of the BTC\/USD pair (information feed from Kraken).<\/li>\n<li>The pair should clear the pattern line and the 100 hourly SMA to proceed increased in direction of $20,500.<\/li>\n<\/ul>\n<h2>Bitcoin Price Faces Hurdles<\/h2>\n<p>Bitcoin value began a <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-attempts-recovery-20k\/\" target=\"_blank\" rel=\"noopener\">short-term upside correction<\/a> from the $18,223 low. BTC was in a position to climb above the $18,800 and $19,000 ranges. It even cleared the $19,350 resistance zone.<\/p>\n<p>However, the worth confronted a robust resistance close to the $19,650 degree and the <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-makes-u-turn-18k\/\" target=\"_blank\" rel=\"noopener\">100 hourly simple moving average<\/a>. A excessive was shaped close to $19,678 and the worth began a contemporary decline. There was a transfer beneath the $19,500 and $19,400 ranges.<\/p>\n<p>Bitcoin value traded beneath the 50% Fib retracement degree of the upward transfer from the $18,223 swing low to $19,678 excessive. The bulls are actually defending the $18,800 assist zone.<\/p>\n<p>The 61.8% Fib retracement degree of the upward transfer from the $18,223 swing low to $19,678 excessive is performing as a assist. On the upside, a direct resistance is close to the $19,200 degree. The subsequent main resistance sits close to the $19,350 degree.<\/p>\n<p><a href=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Bitcoin-22.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-502994\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Bitcoin-22.png\" alt=\"Bitcoin Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Bitcoin-22.png 1834w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Bitcoin-22-460x212.png 460w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Bitcoin-22-860x396.png 860w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Bitcoin-22-768x354.png 768w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Bitcoin-22-1536x708.png 1536w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Bitcoin-22-750x346.png 750w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Bitcoin-22-1140x525.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>There can also be a serious bearish pattern line forming with resistance close to $19,420 on the hourly chart of the BTC\/USD pair. A transparent transfer above the pattern line, the 100 hourly easy transferring common, and $19,500 might open the doorways for a transfer in direction of the $20,000 degree. Any extra positive aspects would possibly ship the worth in direction of the $20,500 resistance zone.<\/p>\n<h2>Fresh Decline in BTC?<\/h2>\n<p>If bitcoin fails to proceed increased above the $19,350 resistance zone, it might begin a contemporary decline. An quick assist on the draw back is close to the $18,800 zone.<\/p>\n<p>The subsequent main assist is close to the $18,550 degree. A transparent transfer beneath the $18,550 zone might set the tempo for a bigger decline. In the acknowledged case, the worth might even decline beneath the $18,223 swing low.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now shedding tempo within the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now close to the 50 degree.<\/p>\n<p>Major Support Levels \u2013 $18,800, adopted by $18,550.<\/p>\n<p>Major Resistance Levels \u2013 $19,200, $19,350 and $19,500.<\/p>\n<\/p><\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-stuck-below-20k\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Bitcoin began an upside correction above $19,000 in opposition to the US Dollar. BTC is now dealing with a robust resistance close to the $19,350 and $19,500 ranges. Bitcoin is making an attempt an upside correction above the $19,000 degree. The value continues to be buying and selling beneath $19,500 and the 100 hourly 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