bitcoin price prediction today bitcoin price today

why crypto market is down today 2022


Bitcoin broke the key support of $19,500 against the US dollar. BTC is showing bearish signs and remains at risk of a move to the $18,000 level.


🔶Bitcoin failed to make a new high and fell below the $19,500 support.


🔶The
 price is currently trading below the $19,000 level and the 100 hourly simple moving average.


 🔶A converging bearish trendline is forming with resistance near $19,420 on the hourly chart of the BTC/USD pair (data source from Kraken).


🔶The
 pair may correct higher, but upside may be limited above $19,500.


bitcoin price prediction today


🔶Bitcoin price failed to gain momentum to move above the $20,500 and $20,550 resistance levels. Several failed attempts triggered a reaction below the key $19,500 support zone. 

🔶There is a sharp decline below the $19,500 support and the 100 hourly simple moving average. The price dropped below the $19,200 and $19,000 levels. A low was formed near $18,670 and the price is now consolidating losses.


🔶It is currently trading below the $19,000 levels and the 100 hour simple moving average. On the upside, there is immediate resistance near $19,000. This is close to the 23.6% Fib retracement level of the recent decline from $20,171 to the low of $18,670.


🔶The next big resistance is near $19,400. Additionally, a bearish trendline is forming on the hourly chart of the BTC/USD pair, leading to resistance near $19,420.


🔶The trendline is near the 50% Fib retracement level of the recent decline from the $20,171 high to $18,670 low. A further rise could send the price towards the $19,800 resistance area and the 100 hourly simple moving average.


More losses in bitcoin?


🔶If Bitcoin fails to start a wave of recovery above the $19,000 area, it may continue to decline. There is immediate support on the downside near the $18,650 area. The next major support is seen near the USD 18,500 level. A breakdown below the $18,500 support could lead to further downside. If shown, the price can test the $18,000 support.




  • #Bitcoin
  • #Blockchain
  • #Federal Reserve
  • #Markets
  • #Stocks



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