By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
CryptoCommunityCryptoCommunity
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Search
  • BTC
  • ETH
  • USDT
  • USDC
  • BNB
  • BUSD
  • ADA
  • XRP
  • SOL
  • DOGE
  • DOT
  • MATIC
Reading: Bitcoin Price Below Psychological Level $22,000; Is The Next Stop At $17,000?
Share
Aa
CryptoCommunityCryptoCommunity
Aa
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Search
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
CryptoCommunity > Blog > crypto > Bitcoin Price Below Psychological Level $22,000; Is The Next Stop At $17,000?
crypto

Bitcoin Price Below Psychological Level $22,000; Is The Next Stop At $17,000?

admin Published August 31, 2022
Last updated: 2022/08/31 at 6:53 AM
Share
SHARE

[ad_1]

Bitcoin price over the last 24 hours moved south on its four-hour chart. Very recently Bitcoin had rose above the $20,000 price mark but the bears failed to hold the asset at that price mark.

Contents
Bitcoin Price Analysis: Four-Hour ChartTechnical Analysis

In the last 24 hours, the coin was mostly consolidating on its chart.

In the past week, BTC fell by 9%. There was substantial demand in the lower levels. The less demand in return was pulling the price of the crypto below the immediate resistance mark.

The technical outlook for the coin was bearish given how sellers were active in the market at the time of writing.

If buyers don’t return to the market, Bitcoin price will trade near its closest price level. It will aim for a support level underneath that.

It is important that the coin moves above the $20,000 price level in the next trading sessions else it would fall below the $18,000 price level.

The global cryptocurrency market cap today is $996 Billion, with a 2.7% negative change in the last 24 hours.

Bitcoin Price Analysis: Four-Hour Chart

Bitcoin was priced at $20,600 on the four-hour chart | Source: BTCUSD on TradingView

BTC was trading for $20,600 at the time of writing. For the most part in the last 24 hours, the coin was struggling below the $20,000 price mark.

The coin is still quite unstable at the moment, it is to be seen how long the Bitcoin price will remain above that price mark.

The next stop for BTC if it doesn’t trade near the next resistance level will be at $18,000. Overhead resistance for the coin stood at $21,100.

If the coin travels above that then the next attempt would be to touch $22,000. On the flip side, if BTC was unable to remain above the $18,000 mark, $17,000 doesn’t seem unlikely.

Technical Analysis

Bitcoin Price
Bitcoin registered fall in buying strength on the four-hour chart | Source: BTCUSD on TradingView

BTC had depicted increased sell strength as prices fell. This indicated that there was a demand at lower price levels.

The technical indicators also displayed increased bearish momentum. The Relative Strength Index was below the half-line which meant sellers were more than buyers in the market.

Bitcoin price was below the 20-SMA line, this reading is an indication that sellers were driving the price momentum in the market.

Bitcoin Price
Bitcoin portrayed fall in capital inflows on the four-hour chart | Source: BTCUSD on TradingView

The coin’s other technical indicators also indicated that the buying strength was picking up on the four-hour chart.

Moving Average Convergence Divergence indicated the momentum and change in the coin’s price trend.

MACD was still positive with green histograms on the half-line which pointed towards a buy signal. Chaikin Money Flow signals capital inflows and outflows.

CMF was peeking above the half-line suggesting that capital inflows just exceeded the capital outflows.

[ad_2]

You Might Also Like

How to earn bitcoins fast

How to Tell If a Cryptocurrency is a Scam or Not

Tips to Avoid Losing In Cryptocurrency Trading

How to Sell Products Online with Bitcoins – The Ultimate Guide

Get a Cryptocurrency Trader Certification to Get Ready For The Big Game!

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
[mc4wp_form]
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
admin August 31, 2022
Share this Article
Facebook TwitterEmail Print
Share
Previous Article Project Gigabit to connect rural areas to high-speed broadband – TechCrunch
Next Article Twitter’s attempt to monetize porn reportedly halted due to child safety warnings – TechCrunch

Latest News

earn bitcoins fast
How to earn bitcoins fast
crypto
Cryptocurrency is a Scam or Not
How to Tell If a Cryptocurrency is a Scam or Not
crypto
Losing In Cryptocurrency Trading
Tips to Avoid Losing In Cryptocurrency Trading
crypto
Sell Products Online with Bitcoins
How to Sell Products Online with Bitcoins – The Ultimate Guide
crypto

You Might also Like

earn bitcoins fast
crypto

How to earn bitcoins fast

4 Min Read
Cryptocurrency is a Scam or Not
crypto

How to Tell If a Cryptocurrency is a Scam or Not

8 Min Read
Losing In Cryptocurrency Trading
crypto

Tips to Avoid Losing In Cryptocurrency Trading

6 Min Read
Sell Products Online with Bitcoins
crypto

How to Sell Products Online with Bitcoins – The Ultimate Guide

5 Min Read

Crypto Community

  • Home
  • Crypto Calculator
  • Blog
  • Contact Us
  • Privacy Policy
  • Disclaimer
  • Terms and Conditions

Real time Cryptocurrency

  • Crypto Prices
  • Dogecoin price
  • Shibainu coin price
  • Bitcoin Price
  • Cardano Price
  • Litecoins Price

Cryptocurrency Price USD

  • Bitcoin price USD
  • Ethereum price USD
  • Tether price USD
  • BNB Price USD
  • Cardano Price USD
  • Solana Price USD
  • Peps coin Price USD
  • floki inu Price USD
  • SIA coin Price USD
CryptoCommunityCryptoCommunity
Follow US

© 2022 Cryptos Community All Rights Reserved. All logos and images used on this website are registered trademarks of their respective companies. All Rights Reserved. Cryptos Community is not liable for inaccuracies, errors, or omissions found herein. For the removal of copyrighted images, trademarks, or other issues, Contact Us. 


Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?