TA: Bitcoin Dips Further, Why BTC Could Revisit $20K

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,166,910,750,333	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,166,910,750,333

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	231.86	0.39%	59,353.06	59,353.05	59,353.06

Price Change

Price Change %

Current Price

Bid Price

Offer

231.86

0.39%

59,353.06

59,353.05

59,353.06

High Price	Low Price	Open Price	Prev. Close	52 Week Range
59,510.99	58,821.05	59,076.58	59,121.20	24,750.00 - 73,835.57

High Price

Low Price

Open Price

Prev. Close

52 Week Range

59,510.99

58,821.05

59,076.58

59,121.20

24,750.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	02:49:39	0.000020	59,353.06	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

02:49:39

0.000020

59,353.06

USD

Price x Volume	Volume	Base Symbol	Related Pairs
47,585,857.87	803.80	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

47,585,857.87

803.80

TA: Bitcoin Dips Further, Why BTC Could Revisit $20K

28/06/2022 4:08am

NEWSBTC

Bitcoin is moving lower below the $21,000 zone against the US Dollar. BTC could gain bearish momentum below the $20,650 support zone. Bitcoin struggled to rise above $21,200 and declined towards $20,650. The price is now below the $21,000 level and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $21,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could decline further if there is a clear move below the $20,650 zone. Bitcoin Price Remains At Risk Bitcoin price failed to clear the $21,500 resistance zone and started a fresh decline. The price declined below the $21,200 and $21,000 levels. There was a clear move below the 50% Fib retracement level of the upward move from the $19,751 swing low to $21,780 high. There was also a close below the $20,800 level and the 100 hourly simple moving average. Bitcoin tested the $20,600 and $20,500 support levels. It is now consolidating near the 61.8% Fib retracement level of the upward move from the $19,751 swing low to $21,780 high. An immediate resistance on the upside is near the $21,920 level. The next key resistance is near the $21,000 level. There is also a key bearish trend line forming with resistance near $21,000 on the hourly chart of the BTC/USD pair. A clear move above the $21,000 level might start a decent increase. Source: BTCUSD on TradingView.com In the stated case, the price could rise above the $21,250 level. The next major stop might be near the $21,780 high, above which the price may perhaps rise towards the $22,500 level. More Losses in BTC? If bitcoin fails to clear the $21,250 resistance zone, it could continue to move down. An immediate support on the downside is near the $20,650 zone and $20,500. A downside break below the $20,650 support zone could start a major decline. In the stated case, the price might slide towards the $20,000 level. Any more losses could set the pace for a move towards the $19,200 level or even $18,800 in the coming sessions. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $20,500, followed by $20,000. Major Resistance Levels – $20,920, $21,250 and $22,500.

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