Bitcoin Price Dives Below $20K, Why BTC Is Vulnerable To More Losses

Bitcoin began a decline, and it traded at $20,000 below the US dollar. BTC is at risk of further losses until it recovers over $20,000.

  • Bitcoin experienced another drop below levels of $20,200 and $20,000
  • The price currently trades below the $20,000 mark and the 100 hourly simple moving mean.
  • A key bearish trendline is emerging with resistance close to $20,000 in the hourly charts of the BTC/USD pairs (data feed Kraken).
  • In the next sessions, the pair may accelerate lower than the $19 500 support zone.

Bitcoin Prices Hit

The $22,000 resistance level was not breached by Bitcoin prices. BTC began a new decline below $21,200, and $21,000 support levels.

In order to push the price below $20,000, the bears gained momentum. The 100-hourly simple moving mean and $20,000 levels were both reached. The price has been consolidating its losses since a low was formed at $19,525

Surprisingly, a resistance level is located near $19 800. It is located near $20,000, the first major resistance. This is close to the 23.6% Fib level of the downmove from $21,875 high to $194,525 low.

On the hourly charts of BTC/USD, there’s a bearish trend line that is emerging with resistance at $20,000 Bitcoin prices must break the $20,000 resistance zone in order to begin a recovery wave.

Bitcoin Price

Source: BTCUSD at

Near the $20,000.00 zone could be next to come. This price is very close to the Fib level of the decline from the $21,875 swing high and $19,525 lowest. If the gains continue, the price might reach the $21,000 resistance area.

BTC: More losses

Bitcoin could move lower if it fails to break the $20,000 resistance level. The $19,500 and recent low levels provide immediate support for the downside.

Near the $19,000.200 mark is the next support. If the support is reached below $19 200, it could lead to a rapid decline. The price could fall towards $18,500 in this scenario.

Technical indicators

Hourly MACD – The MACD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $19,500, followed by $19,200.

Major Resistance Levels – $19,800, $20,000 and $21,000.

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