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

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,159,415,155,384	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,159,415,155,384

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	262.19	0.44%	59,383.39	59,383.39	59,383.40

Price Change

Price Change %

Current Price

Bid Price

Offer

262.19

0.44%

59,383.39

59,383.40

High Price	Low Price	Open Price	Prev. Close	52 Week Range
59,402.00	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

59,402.00

58,821.05

59,076.58

59,121.20

24,750.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	02:10:57	0.001000	59,383.39	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

02:10:57

0.001000

59,383.39

USD

Price x Volume	Volume	Base Symbol	Related Pairs
25,556,867.26	432.70	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

25,556,867.26

432.70

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.

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