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Name Symbol Market Market Cap ($) Algorithm
Bitcoin BTCUSD Crypto 441,411,856,767 SHA-256d
  Price Change Price Change % Current Price Bid Price Offer
  -431.12 -1.85% 22,895.91 22,895.19 22,895.79
High Price Low Price Open Price Prev. Close 52 Week Range
23,433.20 22,816.84 23,329.50 23,327.03 15,500.00 - 48,240.00
Exchange Last Trade Size Trade Price Currency
GDAX 18:29:43 0.005000 22,895.90 USD
Price x Volume Volume Base Symbol Related Pairs
155,871,823.34 6,729.90 BTC BTCEUR BTCGBP ETHBTC

TA: Bitcoin Price Trims Gains, Why BTC Could Dive To New Monthly Low

28/09/2022 3:38am

NEWSBTC


Bitcoin failed to stay above the $20,000 resistance against the US Dollar. BTC is sliding and might even break the $18,250 support zone. Bitcoin failed to stay above the $20,000 resistance and started a fresh decline. The price is trading below $19,000 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $19,450 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could accelerate lower below the $18,250 support zone in the near term. Bitcoin Price Restarts Decline Bitcoin price attempted a decent upward move above the $19,500 resistance. BTC even climbed above the $20,000 resistance and the 100 hourly simple moving average. However, the crypto market faced a fresh selling interest after the US Dollar regained strength. As a result, bitcoin price topped near the $20,383 level and started another decline. There was a sharp move below the $20,000 level. Besides, there was a break below a key bullish trend line with support near $19,450 on the hourly chart of the BTC/USD pair. The pair declined below the 61.8% Fib retracement level of the upward move from the $18,645 swing low to $20,383 high. It is now trading below $19,000 and the 100 hourly simple moving average. An immediate support on the downside sits near the $18,600 level, with a bearish angle. On the upside, an immediate resistance is near the $19,000 level. Source: BTCUSD on TradingView.com The next major resistance sits near the $19,200 zone and the 100 hourly simple moving average. A close above the $19,200 level might start a decent increase. In the stated case, the price could rise towards $19,500. Any more gains might lead the price higher towards the $20,000 resistance zone. More Losses in BTC? If bitcoin fails to recover above the $19,200 resistance zone, it could continue to move down. An immediate support on the downside is near the $18,500 zone. The next major support is near the $18,250 zone. It is near the 10236 Fib extension level of the upward move from the $18,645 swing low to $20,383 high. Any more losses might call for a drop towards the $17,500 support zone 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 – $18,500, followed by $18,250. Major Resistance Levels – $19,000, $19,200 and $20,000.

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