Bitcoin Price Recovery Won’t Be Easy, Why Bears Target Additional Weakness

Bitcoin price is struggling below the $19,200 support against the US Dollar. BTC remains at a risk of more losses below the $18,500 support in the near term.

• Bitcoin is showing bearish signs below the $19,200 and $19,500 levels.
• The price is trading below above $19,500 and the 100 hourly simple moving average.
• There is a key bearish trend line forming with resistance near $19,180 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could continue to move down if it stays below the $19,500 level for a long time.

Bitcoin Price Slides Further

Bitcoin price settled below the $20,000 support zone. BTC is followi