Bitcoin value is slowly transferring decrease under the $19,200 assist in opposition to the US Greenback. BTC may slide additional if there may be additional escalation in Russia-Ukraine warfare scenario.
- Bitcoin is slowly transferring decrease under the $19,200 and $19,000 ranges.
- The worth is buying and selling under above $19,500 and the 100 hourly easy transferring common.
- There’s a connecting bearish pattern line forming with resistance close to $19,260 on the hourly chart of the BTC/USD pair (knowledge feed from Kraken).
- The pair may proceed to maneuver down if there’s a clear transfer under the $18,920 assist.
Bitcoin Value Slides
Bitcoin value remained in a bearish zone below the $20,000 support zone. BTC slowly moved and settled under the $19,500 assist plus the 100 hourly easy transferring common.
There was a transparent transfer under the $19,200 assist zone, growing stress on the bulls. Lastly, the worth moved under the $19,000 stage and traded as little as $18,970. The worth is now consolidating losses close to the $19,000 pivot stage.
Bitcoin value is buying and selling under above $19,500 and the 100 hourly simple moving average. There may be additionally a connecting bearish pattern line forming with resistance close to $19,260 on the hourly chart of the BTC/USD pair.
On the upside, a direct resistance is close to the $19,110 stage. It’s close to the 23.6% Fib retracement stage of the current decline from the $19,559 swing excessive to $18,970 low. The subsequent main resistance sits close to the $19,260 zone and the pattern line.
The pattern line is near the 50% Fib retracement stage of the current decline from the $19,559 swing excessive to $18,970 low. A transparent transfer above the pattern line would possibly ship the worth in the direction of the $19,500 resistance or the 100 hourly easy transferring common.
Supply: BTCUSD on TradingView.com
Any extra features would possibly ship the worth above the $19,600 resistance. Within the said case, the worth may rise in the direction of the $20,000 resistance stage.
Extra Losses in BTC?
If bitcoin fails to rise above the $19,260 resistance zone, it may proceed to maneuver down. An instantaneous assist on the draw back is close to the $19,000 zone.
The subsequent main assist is close to the $18,920 zone. A draw back break under the $18,920 assist zone would possibly name for extra losses. Within the said case, there’s a danger of a transfer in the direction of the $18,500 assist zone.
Technical indicators:
Hourly MACD – The MACD is now gaining tempo within the bearish zone.
Hourly RSI (Relative Energy Index) – The RSI for BTC/USD is now under the 50 stage.
Main Help Ranges – $19,000, adopted by $18,500.
Main Resistance Ranges – $19,260, $19,500 and $20,000.
