• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
No Result
View All Result
Breaking News: Breaking: CoWSwap Loses $150,000 In Exploit
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Breaking: CoWSwap Loses $150,000 In Exploit
Bitcoin

Bitcoin Price Lacks Momentum But BTC Holders Are Safe: Here’s Why

Aayush Jindal by Aayush Jindal
4 months ago
in BTC
Reading Time: 2 mins read
Advertisement

Bitcoin price struggled to clear the $20,000 resistance zone against the US Dollar. BTC might decline, but there is a key support waiting near the $18,900 zone.

  • Bitcoin failed to gain momentum for a move above the $20,000 resistance zone.
  • The price is trading below $19,400 and the 100 hourly simple moving average.
  • There is a key bearish trend line forming with resistance near $19,250 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could move down further to test the $18,900 support zone in the near term.

Bitcoin Price Trims Gains

Bitcoin price attempted a decent increase above the $19,500 resistance zone. BTC even climbed above the $19,800 level, but the bears were active near the $20,000 resistance zone.

The price traded as high as $19,939 before there was a fresh decline. There was a drop below the $19,500 and $19,400 levels. The bears even pushed the price below the 50% Fib retracement level of the upward move from the $18,271 swing low to $19,939 high.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

Bitcoin price is now trading below $19,400 and the 100 hourly simple moving average. There is also a key bearish trend line forming with resistance near $19,250 on the hourly chart of the BTC/USD pair.

On the upside, an immediate resistance is near the $19,220 level. The first major resistance sits near the $19,250 level and the trend line. A clear move above the trend line resistance might pump the price towards the $19,500 resistance zone.

Bitcoin Price

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

Source: BTCUSD on TradingView.com

The main resistance is still near the $20,000 zone. Any more gains might start a steady increase towards the $21,200 resistance zone.

Dips Limited in BTC?

If bitcoin fails to rise above the $19,250 resistance zone, it could continue to move down. An immediate support on the downside is near the $19,000 zone.

The next major support is near the $18,900 zone. It is near the 61.8% Fib retracement level of the upward move from the $18,271 swing low to $19,939 high. A downside break below the $18,900 support zone might increase selling pressure. In the stated case, the price could decline towards the $18,500 support zone.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now near the 50 level.

Major Support Levels – $19,000, followed by $18,900.

Major Resistance Levels – $19,250, $19,500 and $20,000.

Tags: bitcoinbtcusdBTCUSDTxbtusd
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Aayush Jindal

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies and Financial Market Strategist with a background in IT and financial markets. He specialises in market strategies and technical analysis, and has spent over a DECADE as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin and Ethereum markets.

Related Posts

Bitcoin

Bitcoin Price Recovers Ground But This Resistance Is The Key For Upside

18 hours ago
Bitcoin

Bitcoin Price Grinds Lower But This Support Can Spark A Fresh Increase

2 days ago
bitcoin golden cross death cross

Bitcoin Golden Cross Versus Death Cross: Why The Outcome Is Critical

2 days ago
Bitcoin

Bitcoin Price Dips As Dollar Rips, Key Support Nearby

3 days ago
Bitcoin

Bitcoin Price Just Saw Key Technical Correction, But 100 SMA Is Still Strong

6 days ago
Bitcoin

Bitcoin Price Rally Post Fed Rate Hike Could Gather Momentum, Here’s Why

7 days ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Metaspins

Metaspins

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
Coinplay

Coinplay

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

SEC Calls for Bitcoin (BTC) and Ethereum (ETH) Regulation As Snowfall Protocol (SNW) Presale Ends on a High Note

February 8, 2023

Chainlink (LINK) and Orbeon Protocol (ORBN) Outperform the Market, Experts Predict Big Growth in 2023

February 8, 2023

ALTCOIN DAILY TO PRODUCE AND STAR IN NEW “SHARK TANK OF CRYPTO” TV SHOW, KILLER WHALES

February 7, 2023

SinVerse Studios Announces $1 Million Buyback Program for the SIN token

February 7, 2023

Join the Revolution: Invest in STARSTAKING for 25% APY and the Chance to Win Big with the DeFi Lottery Program

February 7, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.