Falls as BTC price drops to $18.6K

September 15, 2022

Bitcoin (BTC) broke below the $20,000 support as it fell to $18.6K. Sellers have resumed selling pressure in an attempt to sink Bitcoin to its previous low of $18,675 price level. Today, BTC price is trading at $19,829 at the time of writing.

Bitcoin price statistics:
• Current Bitcoin Price – $19,829.67
Bitcoin market cap – $379,744,901,281
Bitcoin circulating volume – 19,151,868.00 BTC
Total Bitcoin Supply – $416,370,680,846
Bitcoin Coinmarketcap Ranking – #1

Resistance level: $50,000, $55,000, $60,000
Support level: $25,000, $20,000, $15,000

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On September 13th, Bitcoin encountered a price breakdown. The cryptocurrency fell sharply from its $22,794 high as buyers failed to sustain its bullish momentum in the overbought region of the market. Nevertheless, about 48 hours ago, a buyer attempted to stem the decline above his $20,000 support. However, if the seller breaks his $20,000 psychological price level, Bitcoin could fall to his $18,675. Nevertheless, the bulls are expected to defend the current support level with dynamism.

If Bitcoin loses its current support, the largest cryptocurrency will trade at price levels between $18,675 and $24,000. Conversely, in an uptrend, BTC price will resume its uptrend as soon as it crosses the 21-day line SMA. The bottom line is that buyers will emerge at lower levels of price to push Bitcoin higher. For buyers, he will revisit the $22,794 resistance and breach it. If the buyer succeeds, the market will move above the he $24,000 and he $25,205 resistance levels.

Bitcoiner Is Canada’s New Opposition Leader

The new leader of the Conservative Party of Canada, Pierre Polivre, has previously advocated for economic freedom through crypto tokens, smart contracts and decentralized finance. The pro-crypto politician scored a landslide victory on Saturday to become the leader of the Conservative Party of Canada. He secured his 68.15% of the electoral points against his closest opponent Jean Charest, who received just 16.07% of his vote. Pierre Polivre is at the helm of Canada’s Conservative Party and looks set to run for the current government in the next federal elections.

Bitcoin, on the other hand, continues its downtrend, falling to $18.6K. If the bears break below the current support, BTC price will drop to his previous low of $18,675. Bitcoin is at level 46 of the Relative Strength Index for period 14. This indicates that Bitcoin is in a bearish trend zone and may drop further.

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