Up to $14,000 – Bitcoin (BTC) price fails to hold above $20,000. A decline towards $19,000, rather than an ascent towards $21,000, remains more likely.
This Bitcoin price analysis is brought to you in collaboration with CryptoTrader™ and its algorithmic trading solution finally accessible to individuals.
A head above $20,000, but no more?
Bitcoin price drops as low as $19,556 on Bitfinex today, September 15, 2022. Cryptocurrency trades at $19,845 at the time of writing this article. Its price is currently recording a daily loss of 1.90%.
The support at $19,600, which served as support recently before a drop to $19,200 or even before a return to the $18,000-$19,000 area, is holding for now. Bitcoin has been making inroads above $20,000 since yesterday, September 14, 2022, but recent cryptocurrency price developments show that a sustained recovery of that level was first preceded by a fall around $19,000.
The uncertainty is currently being felt in some forecasts, which are quite pessimistic. As Bitcoin traded above $20,000, the Material Indicators platform signaled the possibility of a pump “from here”while adding that the bottom was not yet reached.
The life-saving $20,800 for Bitcoin price
Crypto trader Ed meanwhile said in his recent YouTube video that he was “bullish” above or after a recovery of $20,800 or something like that “. But while waiting for the price of Bitcoin to reach this level, he expects “a little more downside”.
This $20,800 almost corresponds to the closing level of last July 15, three days after Bitcoin hit a local low around $19,240. The cryptocurrency then made a foray above $24,000, five days after Bitcoin price closed at $20,800.
With a higher or broader view of the situation, the Il Capo of Crypto trader instead defines the $14,000 – $23,000, such as the trading range of the Bitcoin price in the short term. He highlighted that the $23,000 acts “like a magnet”, just like the $14,000 – $16,000.
Will the price of Bitcoin manage to surprise the markets, by signing a return to $21,000, a movement that goes against forecasts in the very short term? The macro environment hasn’t really been favorable to risky assets lately. The bulls will thus have to provide a significant effort to cause a bullish technical rebound that is significant, to resume important thresholds.
Is it possible to be a winner every time? Whether the price of Bitcoin is in great shape, or going through turbulence, CryptoTrader™ allows you to increase your chances of success through its 100% automated algorithmic trading tool.