Bitcoin worth is slowly shifting decrease under the $19,200 assist towards the US Greenback. BTC might slide additional if there may be additional escalation in Russia-Ukraine battle scenario.
- Bitcoin is slowly shifting decrease under the $19,200 and $19,000 ranges.
- The worth is buying and selling under above $19,500 and the 100 hourly easy shifting 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 might proceed to maneuver down if there’s a clear transfer under the $18,920 assist.
Bitcoin worth slides
Bitcoin worth remained in a bearish zone under the $20,000 assist zone. BTC slowly moved and settled under the $19,500 assist plus the 100 hourly easy shifting common.
There was a transparent transfer under the $19,200 assist zone, rising stress on the bulls. Lastly, the value 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 worth is buying and selling under above $19,500 and the 100 hourly easy shifting common. There’s 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 latest 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 latest decline from the $19,559 swing excessive to $18,970 low. A transparent transfer above the pattern line may ship the value in direction of the $19,500 resistance or the 100 hourly easy shifting common.
Supply: BTCUSD on TradingView.com
Any extra positive factors may ship the value above the $19,600 resistance. Within the acknowledged case, the value might rise in direction of the $20,000 resistance stage.
Extra losses in BTC?
If bitcoin fails to rise above the $19,260 resistance zone, it might 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 may name for extra losses. Within the acknowledged case, there’s a danger of a transfer in 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 Assist Ranges – $19,000, adopted by $18,500.
Main Resistance Ranges – $19,260, $19,500 and $20,000.
