Analysis

Bitcoin Price Slides Below Key Support Amid Russia-Ukraine War Escalation

Bitcoin value is slowly shifting decrease beneath the $19,200 help towards the US Greenback. BTC may slide additional if there may be additional escalation in Russia-Ukraine struggle state of affairs.

  • Bitcoin is slowly shifting decrease beneath the $19,200 and $19,000 ranges.
  • The value is buying and selling beneath above $19,500 and the 100 hourly easy shifting common.
  • There’s a connecting bearish development line forming with resistance close to $19,260 on the hourly chart of the BTC/USD pair (information feed from Kraken).
  • The pair may proceed to maneuver down if there’s a clear transfer beneath the $18,920 help.

Bitcoin Worth Slides

Bitcoin value remained in a bearish zone beneath the $20,000 help zone. BTC slowly moved and settled beneath the $19,500 help plus the 100 hourly easy shifting common.

There was a transparent transfer beneath the $19,200 help zone, rising strain on the bulls. Lastly, the value moved beneath the $19,000 stage and traded as little as $18,970. The value is now consolidating losses close to the $19,000 pivot stage.

Bitcoin value is buying and selling beneath above $19,500 and the 100 hourly easy shifting common. There may be additionally a connecting bearish development line forming with resistance close to $19,260 on the hourly chart of the BTC/USD pair.

On the upside, a right away resistance is close to the $19,110 stage. It’s close to the 23.6% Fib retracement stage of the latest decline from the $19,559 swing excessive to $18,970 low. The following main resistance sits close to the $19,260 zone and the development line.

The development line is near the 50% Fib retracement stage of the latest decline from the $19,559 swing excessive to $18,970 low. A transparent transfer above the development line may ship the value in direction of the $19,500 resistance or the 100 hourly easy shifting common.

Bitcoin Price

Supply: BTCUSD on TradingView.com

Any extra good points may ship the value above the $19,600 resistance. Within the acknowledged case, the value may rise in direction of the $20,000 resistance stage.

Extra Losses in BTC?

If bitcoin fails to rise above the $19,260 resistance zone, it may proceed to maneuver down. A right away help on the draw back is close to the $19,000 zone.

The following main help is close to the $18,920 zone. A draw back break beneath the $18,920 help zone may name for extra losses. Within the acknowledged case, there’s a threat of a transfer in direction of the $18,500 help zone.

Technical indicators:

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

Hourly RSI (Relative Energy Index) – The RSI for BTC/USD is now beneath the 50 stage.

Main Help Ranges – $19,000, adopted by $18,500.

Main Resistance Ranges – $19,260, $19,500 and $20,000.

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