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  • Bitcoin Price Analysis: Bitcoin reaches $ 19775 as bears threaten another sharp pullback

Bitcoin Price Analysis: Bitcoin reaches $ 19775 as bears threaten another sharp pullback

 تاریخ انتشار :
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  Bitcoin
Bitcoin 360
Source: Coin360

Bitcoin price analysis remains in the downtrend once again as sellers bought below $ 20,000 for the second time in three weeks. In the last 24 hours, the price has reached the lowest level of $ 19775, which indicates another significant deviation from the peak of $ 22022.

The entire crypto market is in the red zone, and most coins lose about 10 percent of their value. With the start of Wall Street revenue season, the sale has been started by big agents. The growing fear of a recession does not improve the situation for Bitcoin. The crypto market has seen a net outflow of capital.

Bitcoin price movement in the last 24 hours: Bitcoin fell to 19 thousand dollars

Bitcoin 1d6
Source: TradingView

As the rate of decline from the level of 22 thousand dollars increases, the charts show that the bitcoin / US dollar pair is firmly stuck in the downtrend. The trading volume shows a slight increase in sales speed because in the last few days we have seen silent trading activities. Institutional actors are also changing their strategies with a focus on preventing the loss of wealth.

The outflow of funds indicates that market participants are moving towards safe assets. According to Bitcoin Price Analysis, another drop in the price of Bitcoin could spark a low of $ 18,000. The bearish price channel in the daily charts shows that the general theme of the charts remains bullish. In the daily charts, the $ 15,000 level indicates a psychological barrier that prevents strong sales.

4-hour chart BTC / USD: The hourly technical indicators are in the red zone

Bitcoin 4h6 1
Source: TradingView

Although the bears are getting tired, they are unlikely to cut prices by as much as $ 18,000 based on macro factors. The $ 19,000 critical support is well maintained and the current BTC / USD price is above the $ 20,000 safe zone. It is difficult for bears to create sales pressure without a large enough volume, based on bitcoin price analysis.

The current correction from the $ 22022 level has near 10-day moving support at $ 19,500. If it wants to stop selling bitcoins close to $ 19,000, a minor correction could once again reach $ 21,000. Bitcoin price analysis shows that scalpers and daily traders can create partial profit positions based on this.

Conclusion Bitcoin price analysis: Bitcoin erodes the uptrend in hourly charts

It is wise to look at larger time frames for BTC / USD. This pair gives vague signals in the hourly charts because it follows the downward channel in the daily charts. The pessimistic outlook remains consistent with bitcoin price analysis.

Traders must look to the $ 21,000 barrier to place long orders. However, any sharp drop close to the $ 20,500 area should be of concern to traders. The bitcoin / dollar pair is currently in one-way hourly charts. Hence, the waiting and watching policy is suitable for daily traders.

Disclaimer. The information provided is not trading advice. Ramzifa.ir holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.