KronosSlott
  • Altcoin
  • Bitcoin
  • Blockchain
  • Ethereum
  • Litecoin
  • Gambling

Subscribe to Updates

Get the latest Crypto news from kronosslott.

What's Hot

Binance was wrong to boot Monero, ZCash and other privacy coins

June 6, 2023

More Than Cute Memes – The Top 12 Utility Tokens Give Investors More For Their Money

June 5, 2023

Bitcoin Price Tumbles Below $27K, The Sandbox (SAND) Soars 6% Daily (Market Watch)

June 5, 2023
Facebook Twitter Instagram
  • Affiliate Disclosure
  • Anti Spam Policy
  • Cookie Policy
  • Privacy Policy
  • Terms & Conditions
Facebook Twitter Instagram
KronosSlott
  • Altcoin
  • Bitcoin
  • Blockchain
  • Ethereum
  • Litecoin
  • Gambling
KronosSlott
Home » Bitcoin Struggles To Break Past $19,500 As New Twist Surfaces, Here’s What To Expect

Bitcoin Struggles To Break Past $19,500 As New Twist Surfaces, Here’s What To Expect

adminBy adminOctober 16, 2022No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Reddit Telegram Email
Bitcoin Struggles To Break Past $19,500 As New Twist Surfaces, Here's What To Expect
Share
Facebook Twitter LinkedIn Pinterest Email


  • BTC’s price shows strength but has struggled to break past $19,500 as the price continues to move in circles. 
  • BTC bounced from a low of $18,200 after the price rallied toward $19,800 but was rejected by sellers. 
  • The price of BTC continues to trade below 50 and 200 Exponential Moving Averages (EMA) ahead of the weekly close. 

The price movement of Bitcoin (BTC) has shown some great price action lately as the price garnered momentum to bounce from a low of $18,200 to $19,800d against tether (USDT). Despite the strength shown by the price of Bitcoin (BTC), it has struggled to reclaim $19,500, which is key for a rally to the region of $20,000. Ahead of the weekly close, it is yet to be known if the price of BTC will rally to the upside or downside, as many traders are left in a dilemma. (Data from Binance)

Bitcoin (BTC) Price Analysis On The Weekly Chart

Weekly BTC Price Chart | Source: BTCUSDT On Tradingview.com

The week has been packed with so many events in the crypto space, but a notable one was the sharp decline in the crypto market after the release of the CPI news; the market appeared to be manipulated, with Bitcoin (BTC) dropping from $19,200 to $18,200 in hours and then back up to a range high of $19,800 before rejection back to $19,200. This price action seems more of manipulation with so much price volatility in a short time. With the possibility of Bitcoin Dominance (BTC.D) rising to a high of 45%, altcoins could suffer more if BTC retraces. 

The price of BTC has struggled in recent times to restore the strength it showed, rallying from a region of $18,700 to $25,000. BTC’s price declined from $25,000 to a weekly low of $18,800-$19,300. The has since struggled to breakout from this range.

BTC’s price needs to reclaim $19,500 with good volume for the price to restore a measure of relief for BTC price and altcoins. If the price of BTC fails to close above $19,500, we could see the price retesting the low of $18,800-$18,200.

Weekly resistance for the price of BTC – $19,500.

Weekly support for the price of BTC – $18,800-18,200.

Price Analysis Of BTC On The Daily (1D) Chart

Daily BTC Price Chart | Source: BTCUSDT On Tradingview.com

The daily timeframe for the price of BTC has been more of a struggle to 

breakout from its descending triangle could spark some relief and bounce to the high of $20,500 and higher with strong buy volume. 

BTC’s price trades at $19,130 as the price continues its range movement 

as the price forms a descending wedge below the 50 Exponential Moving Average (EMA); the price of $20,200 corresponds to the 50 EMA, acting as resistance for the price to break higher. 

Daily resistance for the price of BTC – $20,200.

Daily support for the price of BTC – $18,800.

Featured Image From NBTC, Charts From Tradingview 



Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
admin
  • Website

Related Posts

Crypto Exchange Bybit to Add New Restrictions for Unverified Users, Update Withdrawal Limits – Exchanges Bitcoin News

December 12, 2022

What is a Doji candle pattern and how to trade with it?

December 12, 2022

Bitcoin Price Slides As Markets Brace For Fed Policy Decision And Inflation Data

December 12, 2022

Comments are closed.

Don't Miss

Binance was wrong to boot Monero, ZCash and other privacy coins

Litecoin June 6, 2023

Binance announced in May that it would delist so-called “privacy coins” such as Monero (XMR), Zcash…

More Than Cute Memes – The Top 12 Utility Tokens Give Investors More For Their Money

June 5, 2023

Bitcoin Price Tumbles Below $27K, The Sandbox (SAND) Soars 6% Daily (Market Watch)

June 5, 2023

Atomic Wallet hack losses top $35M, on-chain sleuth reports

June 4, 2023
Stay In Touch
  • Facebook
  • Twitter
  • Pinterest
  • Instagram
  • YouTube
  • Vimeo
Our Picks

Binance was wrong to boot Monero, ZCash and other privacy coins

June 6, 2023

More Than Cute Memes – The Top 12 Utility Tokens Give Investors More For Their Money

June 5, 2023

Bitcoin Price Tumbles Below $27K, The Sandbox (SAND) Soars 6% Daily (Market Watch)

June 5, 2023

Atomic Wallet hack losses top $35M, on-chain sleuth reports

June 4, 2023

Subscribe to Updates

Get the latest Crypto news from kronosslott.

About Us
About Us

Your source for the serious news. This website is crafted specifically to for crazy and hot cryptonews. Visit our main page for more tons of news.

We're social. Connect with us:

Facebook Twitter Pinterest YouTube WhatsApp
Categories
  • Altcoin (70)
  • Bitcoin (2,020)
  • Blockchain (1,274)
  • Ethereum (336)
  • Gambling (2,082)
  • Litecoin (154)
  • NFTs (2)
Our Picks

Binance was wrong to boot Monero, ZCash and other privacy coins

June 6, 2023

More Than Cute Memes – The Top 12 Utility Tokens Give Investors More For Their Money

June 5, 2023

Bitcoin Price Tumbles Below $27K, The Sandbox (SAND) Soars 6% Daily (Market Watch)

June 5, 2023
©2022 –Kronosslott. All Rights Reserved. Kronosslott.com is an independent i-Gaming news site and casino comparison service. Every effort is made to ensure that the bonus offers listed here are accurate and up-to-date. However, we accept no responsibility for inaccuracies or errors. It is your responsibility to confirm the terms of any promotion you choose to accept. Looking to Advertise with us? Kronosslott is always looking for new partnerships. To Inquire please email kronosslott@gmail.com

Type above and press Enter to search. Press Esc to cancel.