Bitcoin is struggling under the $20,000 zone in opposition to the US Greenback. BTC stays prone to extra losses if the bulls fail to guard the $19,800 assist zone.

• Bitcoin is displaying bearish indicators under the $21,000 and $20,500 ranges.
• The worth is now trading under the $20,400 level and the 100 hourly easy shifting common.
• There’s a key bearish development line forming with resistance close to $20,400 on the hourly chart of the BTC/USD pair (knowledge feed by Kraken).
• The pair may fall additional if there’s a clear transfer under the $19,800 zone.

Bitcoin worth stays in danger

Bitcoin worth did not recuperate above the $21,000 pivot level. The worth stayed in a bearish zone and prolonged its decline under the $20,500 assist zone.

There was additionally an in depth under the $20,250 level. BTC surged under the $20,000 level, however the bulls have been lively close to the $19,800 level. A low is forming at $19,828 and the worth is now consolidating its losses. It’s now trading under the $20,400 level and the 100 hourly easy shifting common.

Rapid resistance on the upside is close to $20,150. It’s close to the 23.6% Fib retracement level of the latest decline from the $21,188 high to $19,828 low.

The following key resistance is close to the $20,400 zone. There may be additionally a key bearish development line forming with resistance close to $20,400 on the hourly chart of the BTC/USD pair. The development line is close to the 50% Fib retracement level of the latest decline from the $21,188 high to $19,828 low.

Supply: BTCUSD on TradingView.com

A transparent transfer above the trendline resistance after which $20,500 may set off a restoration wave. Within the talked about case, the worth may surge in direction of the $20,900 level. The following main hurdle for the bulls might be close to the $21,200 zone, above which the worth may maybe rally in direction of the $21,800 level.

Extra losses on BTC?

If bitcoin fails to clear the $20,500 resistance zone, it may proceed to maneuver decrease. Rapid assist on the draw back is close to $20,000.

The primary assist is now close to the $19,800 level, under which the worth may speed up on the draw back. The following main assist is close to the $18,800 zone. Additional losses may propel the worth in direction of the $18,000 level.

Technical indicators:

Hourly MACD – The MACD is now dropping tempo within the bearish zone.

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

Key assist ranges – $20,000 adopted by $19,800.

Main resistance ranges – $20,150, $20,400 and $20,500.