TA: Bitcoin Price Keeps Struggling, What Could Trigger Another Downtrend

TA: Bitcoin Price Keeps Struggling, What Could Trigger Another Downtrend

Bitcoin price is struggling to climb above the $20,000 resistance against the US Dollar. BTC could decline heavily if there is a close below the $18,500 support.


  • Bitcoin remained in a range and stayed above the $19,000 support zone.

  • The price is trading below $19,400 and the 100 hourly simple moving average.

  • There was a break below a key bullish trend line with support near $19,350 on the hourly chart of the BTC/USD pair (data feed from Kraken).

  • The pair could start a fresh decline if there is a clear move below the $18,500 support.


  • Bitcoin Price Stuck In a Range

    Bitcoin price attempted a fresh increase above the $19,000 resistance zone. BTC climbed above the $19,250 level and the 100 hourly simple moving average.


    The price even gained pace above the $19,500 resistance and spiked above $20,000. However, the bears were active above the $20,000 resistance zone. A high was formed near $20,177 and the price started a downside ..

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