Trade Now

Capital at risk Advertisement
Name Symbol Market Market Cap ($) Algorithm
Bitcoin BTCUSD Crypto 374,639,651,395 SHA-256d
  Price Change Price Change % Current Price Bid Price Offer
  -380.69 -1.91% 19,578.24 19,577.09 19,578.25
High Price Low Price Open Price Prev. Close 52 Week Range
20,065.26 19,478.23 19,955.68 19,958.93 17,579.24 - 69,000.00
Exchange Last Trade Size Trade Price Currency
GDAX 16:58:11 0.001093 19,576.79 USD
Price x Volume Volume Base Symbol Related Pairs
572,622,849.45 28,884.41 BTC BTCEUR BTCGBP ETHBTC

TA: Bitcoin is Plunging, But It’s Too Early to Say Bulls Have Given Up

30/06/2022 4:08am

NEWSBTC


Bitcoin is struggling below the $20,000 zone against the US Dollar. BTC remains at a risk of more losses if the bulls fail to protect the $19,800 support zone. Bitcoin is showing bearish signs below the $21,000 and $20,500 levels. The price is now trading below the $20,400 level and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $20,400 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 $19,800 zone. Bitcoin Price Remains At Risk Bitcoin price failed to recover above the $21,000 pivot level. The price remained in a bearish zone and extended its decline below the $20,500 support zone. There was also a close below the $20,250 level. BTC spiked below the $20,000 level, but the bulls were active near $19,800 level. A low is formed near $19,828 and the price is now consolidating losses. It is now trading below the $20,400 level and the 100 hourly simple moving average. An immediate resistance on the upside is near the $20,150 level. It is near the 23.6% Fib retracement level of the recent decline from the $21,188 swing high to $19,828 low. The next key resistance is near the $20,400 zone. There is also a key bearish trend line forming with resistance near $20,400 on the hourly chart of the BTC/USD pair. The trend line is near the 50% Fib retracement level of the recent decline from the $21,188 swing high to $19,828 low. Source: BTCUSD on TradingView.com A clear move above the trend line resistance and then $20,500 could start a recovery wave. In the stated case, the price could rise towards the $20,900 level. The next major hurdle for the bulls might be near the $21,200 zone, above which the price may perhaps rise towards the $21,800 level. More Losses in BTC? If bitcoin fails to clear the $20,500 resistance zone, it could continue to move down. An immediate support on the downside is near the $20,000 level. The main support now sits near the $19,800 level, below which the price could accelerate lower. The next major support sits near the $18,800 zone. Any more losses could send the price towards the $18,000 level. Technical indicators: Hourly MACD – The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $20,000, followed by $19,800. Major Resistance Levels – $20,150, $20,400 and $20,500.

1 Year Bitcoin Chart

1 Year Bitcoin Chart

1 Month Bitcoin Chart

1 Month Bitcoin Chart
ADVFN Advertorial
Your Recent History
COIN
BTCUSD
Bitcoin
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

Log in to ADVFN
Register Now

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20221007 15:58:15