Bitcoin is showing bearish signs below the $20,000 support zone against the US Dollar. BTC could accelerate further lower below the $19,500 support zone.
Bitcoin started a fresh decline and traded below the $20,000 support.
The price is now trading below $20,200 and the 100 hourly simple moving average.
There is a major bearish trend line forming with resistance near $20,050 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could start a substantial decline if it breaks the $19,500 support zone.
Bitcoin Price Remains At Risk
Bitcoin price attempted a recovery wave above the $20,300 resistance level. However, there was no upside break and the price remained in a bearish zone below $20,500.
Recently, Ethereum saw a major bearish reaction below the $1,500 support. As a result, BTC also moved a few points lower and declined below the $20,000 support. It even traded below the $19,600 and tested the $19,500 support zone.
A low is formed near $19,509 and the price...
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