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Bitcoin Moves to $18.6K Low – September 15, 2022
Bitcoin (BTC) fell below $20,000 support as it fell to $18.6K. At the $18,675 price level, sellers continue to sell as Bitcoin attempts to sink to previous lows. Today, at the time of writing, BTC is trading at $19,829.
Bitcoin Price Statistics Information:
• Bitcoin price now – $19,829.67
• Bitcoin market value – 379,744,901,281 dollars
• Bitcoin Transfer Supply – 19,151,868.00 BTC
• Total supply of Bitcoin – $416,370,680,846
• Bitcoin Coinmarketcap Rank – #1
Resistance Levels: $50,000, $55,000, $60,000
Support Levels: 25,000, 20,000, $15,000
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On September 13, Bitcoin experienced a price collapse. The cryptocurrency fell from its highs of $22,794 as buyers failed to sustain higher momentum in the overbought market range. However, 48 hours ago, buyers tried to stop the decline above the $20,000 support. However, if sellers breach the psychological price level of $20,000, Bitcoin could drop to $18,675. However, the bulls are expected to defend the current support level with volatility.
The largest cryptocurrency will trade between the price levels between 18,675 and $24,000 if Bitcoin loses its current support. On the contrary, on the upside, the price of BTC continues to rise again as soon as it breaks above the 21-day line SMA. The bottom line is that buyers emerge at low price levels to push Bitcoin up. Buyers will revisit the resistance at $22,794. If the buyers are successful, the market will rally above the $24,000 and $25,205 resistance levels.
Canada’s new opposition leader is a Bitcoiner.
The new leader of the Conservative Party of Canada, Pierre Poilèvre, has previously advocated for financial freedom through crypto tokens, smart contracts and decentralized finance. A conservative politician won the leadership of the Conservative Party of Canada on Saturday. He won 68.15% of the vote with only 16.07% for his nearest rival, Jean Charest. Pierre Poilèvre has taken over the leadership of the Conservative Party of Canada, which looks set to raise funds for the current administration in the next federal election.
Meanwhile, Bitcoin continued its downward march as it dropped to a low of $18.6K. On the downside, if the bears break below the current support, the BTC price will drop to the previous low of $18,675. Bitcoin is at 46 on the Time 14 Relative Strength Index. This indicates that Bitcoin is in a bearish trend zone and may decline further.
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