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Bitcoin Price Analysis: BTC / USD in Endless Pit as Bears Target $ 19,000

 تاریخ انتشار :
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  Bitcoin
360 coins
360 coins

Bitcoin price analysis shows that the pair is by no means reaching its lowest level, as market sentiment is heading for another downturn. The bitcoin / dollar pair is struggling to cross the $ 21,000 mark as large sell orders lie ahead. Terrified traders are evacuating their assets because the money changers are not cooperating.

The US Federal Reserve’s sharp rise in interest rates has raised fears among public investors that they may be flocking to safer assets. A historic rise in interest rates only puts pressure on downward sentiment, which could lead to stagflation or stagnation if the situation worsens. News of the Celsius and the 3 Capital Arrows (3AC) is another reason why the market is constantly declining.

Bitcoin price analysis in the last 24 hours: there is no way to escape the $ 21,000 barrier

btc usd 1d
Source: TradingView

Ever since the market went below $ 20,000 to the $ 20,000 psychological barrier, market participants are no longer interested in big bets. The input and output currents of the swing exchanges do not move towards a safer scenario. Chain data show that bitcoin miners are also joining the band to increase bitcoin inflows to exchanges.

In the last 24 hours, the market is full of bitcoin miners, which indicates that they expect a further decline in the price of bitcoin. Leading investors and market experts are not sure where the market will go. Mike Novogratz, a well-known figure in digital currencies, says Bitcoin may stop falling near the $ 20,000 mark, while Atrium will reach $ 1,000 in the short term. However, given that the area of ​​Bitcoin is below $ 20,000, this has been proven wrong. Whether prices will stagnate close to the mark is a completely different matter.

Bitcoin price analysis shows that the price has dropped to $ 19900 thousand with a stop near $ 20175. The short recovery period that began on June 24 will not be a complete recovery. Bitcoin price analysis shows that the bears are reluctant to back down because they have lined up large sales orders near the $ 22,000 mark.

Bitcoin / US Dollar 4-Hour Chart: Cows Empty Their Shopping Positions on Every Leap

btc usd 4h
Source: TradingView

Aggressive sales in the last 48 hours have destroyed the confidence of cows. Any hope for a speedy and quick recovery is gone. The RSI index reads reading 21, which shows the market over-selling conditions in the hourly charts. Any quick pull will surely face strong sales in the opposite direction.

Bitcoin price analysis shows that the pair is moving sideways. Return will not be fast. In the event of any major buy in the charts, the next Fibonacci Retracement level to consider is $ 24,562 as the 50% correction is above the 25,900 level.

Conclusion Bitcoin Price Analysis: Traders are ready to resell for $ 18,000

The BTC / USD price in the next 24 hours shows a limited movement. This uptrend will resume only when traders cross the $ 22,500 area and safely enter the $ 25,000 area. If the pair moves towards the $ 25,000 mark, traders are likely to move to the short-term $ 26,000 area, which is just more bullish.

The cows must keep moving above the 20-day moving average, which is currently $ 27,700. However, these figures are very optimistic given the current disappointing scenario prevailing in bitcoin price analysis.