Bitcoin price failed to stay above $20,600 and extended losses. BTC must stay above $20,000 to avoid a major decline in the near term.
- Bitcoin started a downside correction and broke a major support at $20,600.
- די פּרייַז איז טריידינג אונטער $ 20,600 און די 100 אַורלי פּשוט מאָווינג דורכשניטלעך.
- אויף אַ שעה טשאַרט פון די BTC / USD פּאָר (דאַטן קאָרמען פֿון Kraken), עס איז אַ הויפּט בעריש גאַנג שורה פאָרמינג מיט קעגנשטעל לעבן 21,050 $.
- The pair could revisit the main $20,000 support zone in the near term.
ביטקאָין פּרייס דיפּס ווייַטער
Bitcoin price formed a swing high near the $21,469 level and recently started a downside correction. BTC declined below the $21,200 and $21,000 levels.
The bears were able to push the price below the key $20,600 support and the 100 hourly simple moving average. There was a clear move below the 50% Fib retracement level of the main increase from the $20,050 swing low to $21,470 high.
The decline gained pace below the $20,500 level. Bitcoin price even tested the 76.4% Fib retracement level of the main increase from the $20,050 swing low to $21,470 high.
די פּרייַז איז איצט טריידינג אונטער $ 20,600 און די 100 אַורלי פּשוט מאָווינג דורכשניטלעך. On the upside, an immediate resistance is near the $20,600 level. The first major resistance is near the $21,000 level. There is also a major bearish trend line forming with resistance near $21,050 on the hourly chart of the BTC/USD pair.
מקור: בטקוסד אויף TradingView.com
A clear move above the trend line resistance and $21,200 might start a fresh increase towards $21,500. The next major resistance is near $22,000, above which the price could test the $22,500 zone.
מער לאָססעס אין בטק?
If bitcoin fails to start a recovery wave above the $20,600 resistance zone, it could resume its decline. An immediate support on the downside is near the $20,380 level.
The next major support is near the $20,050 zone. A clear move below the $20,050 support might push the price into a bearish zone. In this case, the price may perhaps decline towards the $19,200 level.
טעכניש ינדאַקייטערז:
אַורלי מאַקד - די מאַקד איז איצט גיינינג גאַנג אין די בעריש זאָנע.
אַורלי רסי (קאָרעוו שטאַרקייט אינדעקס) - די רסי פֿאַר בטק / וסד איז איצט אונטער די 50 מדרגה.
הויפּט שטיצן לעוועלס - 20,380 $, נאכגעגאנגען דורך $ 20,050.
הויפּט קעגנשטעל לעוועלס - $ 20,600, $ 21,000 און $ 21,200.
Source: https://www.newsbtc.com/analysis/btc/bitcoin-price-major-drop-risk-20k/