{"id":164554,"date":"2022-09-29T13:39:32","date_gmt":"2022-09-29T13:39:32","guid":{"rendered":"https:\/\/precoinnews.com\/?p=164554"},"modified":"2022-09-29T13:39:32","modified_gmt":"2022-09-29T13:39:32","slug":"bitcoin-is-at-an-impasse-as-it-is-trapped-between-the-18210-and-20000-levels","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/bitcoin-is-at-an-impasse-as-it-is-trapped-between-the-18210-and-20000-levels\/","title":{"rendered":"Bitcoin Is At An Impasse As It Is Trapped Between The $18,210 And $20,000 Levels"},"content":{"rendered":"
Bitcoin (BTC) price is in a downtrend as buyers make concerted efforts to keep BTC price above the moving average lines. <\/strong><\/p>\n Today, Bitcoin is turning down from the 21-day moving average line. In the past 48 hours, buyers have made two unsuccessful attempts to keep the BTC price above the 21-day line SMA. First, on September 27, the BTC price recovered and rose above the 21-day line SMA.<\/p>\n The upward momentum extended to the high of $20,385. The largest cryptocurrency has the advantage of advancing to the previous highs, but buyers could not sustain the upward momentum. Bitcoin retreated sharply to the current support. <\/p>\n Yesterday, buyers pushed the price to the high of $19,791 and then retreated. Since September 21, Bitcoin has been forced to trade between $18,210 and $20,000. On the downside, sellers will try to lower the BTC price and regain the previous low at $17,605.<\/p>\n <\/p>\n Bitcoin is at level 45 of the Relative Strength Index for the period 14. It is in the downtrend zone, but is currently trading in a narrow range. The price bars are below the moving average lines, which makes the cryptocurrency vulnerable to a decline. Meanwhile, the 21-day line SMA and the 50-day line SMA are sloping horizontally, indicating a sideways movement. Bitcoin is below the 20% area of the daily stochastic. This means that the market has reached an oversold area.<\/p>\n Key resistance zones: $30,000, $35,000, $40,000 Bitcoin is in a range-bound move below the moving average line. The upward movement was slowed down by the 21-day line SMA. The downtrend will continue if sellers break the support at $18,210. However, the sideways movement will continue indefinitely if the current support holds.<\/p>\n <\/p>\n Disclaimer. This analysis and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing in funds.<\/span><\/i><\/p>\nBitcoin Price Long Term Forecast: Bearish
<\/h2>\nBitcoin (BTC) Indicator Reading
<\/h2>\nTechnical Indicator
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Key support zones: $25,000, $20,000, $15,000<\/p>\nWhat is the next direction for BTC\/USD?
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