TA: Bitcoin Turns Red, Why BTC Could Trade To New Monthly Lows

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,271,601,490,946	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,271,601,490,946

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-1,592.69	-2.40%	64,805.45	64,813.53	64,817.87

Price Change

Price Change %

Current Price

Bid Price

Offer

-1,592.69

-2.40%

64,805.45

64,813.53

64,817.87

High Price	Low Price	Open Price	Prev. Close	52 Week Range
67,077.97	64,285.00	66,560.41	66,410.56	24,750.00 - 73,835.57

High Price

Low Price

Open Price

Prev. Close

52 Week Range

67,077.97

64,285.00

66,560.41

66,410.56

24,750.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	18:07:55	0.000361	64,817.46	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

18:07:55

0.000361

64,817.46

USD

Price x Volume	Volume	Base Symbol	Related Pairs
723,669,867.83	10,992.13	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

723,669,867.83

10,992.13

TA: Bitcoin Turns Red, Why BTC Could Trade To New Monthly Lows

29/06/2022 4:28am

NEWSBTC

Bitcoin is struggling below the $21,000 zone against the US Dollar. BTC could continue to move down unless there is a clear move above the $20,750 resistance zone. Bitcoin started a fresh decline below the $21,000 and $20,500 levels. The price is now trading below the $20,500 level and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $20,820 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 $20,000 zone. Bitcoin Price Is Sliding Bitcoin price remained in a bearish zone below the $21,000 pivot level. The bulls struggled to push the price higher and there was a bearish reaction below the $20,800 level. The price traded below the 61.8% Fib retracement level of the key recovery from the $19,750 swing low to $21,780 high. The decline was such that the bears even pushed the price below the $20,550 and $20,500 support levels. It tested the 76.4% Fib retracement level of the key recovery from the $19,750 swing low to $21,780 high. Bitcoin is now trading below the $20,500 level and the 100 hourly simple moving average. An immediate resistance on the upside is near the $20,520 level. The next key resistance is near the $20,750 zone. There is also a major bearish trend line forming with resistance near $20,820 on the hourly chart of the BTC/USD pair. Source: BTCUSD on TradingView.com A clear move above the trend line resistance and then $21,000 could initiate a decent increase. In the stated case, the price could rise above the $21,250 level. The next major hurdle for the bulls might be near the $21,750 zone, above which the price may perhaps rise towards the $22,500 level. More Losses in BTC? If bitcoin fails to clear the $21,000 resistance zone, it could continue to move down. An immediate support on the downside is near the $20,220 level. A downside break below the $20,220 support zone could push the price further lower. The next major support sits near the $20,000 zone. Any more losses could send the price towards the $18,800 level or a new monthly low. 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 – $20,220, followed by $20,000. Major Resistance Levels – $20,520, $20,800 and $21,250.

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