TA: Bitcoin is Facing Uphill Task, Why Bears Could Gain Strength Below $19K
Bitcoin price broke the $19,200 resistance, but it is still struggling near $19,500 against the US Dollar. BTC could decline sharply if there is a clear break below $19,150 and $19,000. Bitcoin is struggling to gain bullish momentum above $19,400 and $19,500. The price is approaching the $19,150 support and the 100 hourly simple moving […]
Bitcoin cost broke the $19,200 obstruction, yet it is as yet battling close $19,500 against the US Dollar. BTC could decay pointedly if there is an unmistakable break beneath $19,150 and $19,000. Bitcoin is battling to pick up bullish force above $19,400 and $19,500. The cost is drawing closer the $19,150 uphold and the 100 hourly basic moving normal. There was a break over a significant bearish pattern line with opposition at $19,150 on the hourly outline of the BTC/USD pair (information feed from Kraken). The pair attempted to underwrite and it is as of now sliding from the $19,432 swing high. Bitcoin Price is Attempting Upside Break There was a consistent expansion in bitcoin cost after a few spikes underneath $19,000. BTC broke the $19,000 obstruction level and it even settled over the 100 hourly basic moving normal. All the more significantly, there was a break over a significant bearish pattern line with opposition at $19,150 on the hourly graph of the BTC/USD pair. The pair outperformed the $19,400 level, yet there was absence of bullish force. Bitcoin attempted to try and test the $19,500 opposition level after the pattern line break. A high is framed close $19,432 and the cost is right now declining. It broke the 23.6% Fib retracement level of the ongoing wave from the $18,868 low to $19,432 high.