{"id":864,"date":"2024-08-19T12:04:09","date_gmt":"2024-08-19T12:04:09","guid":{"rendered":"https:\/\/investingsstrategist.com\/index.php\/2024\/08\/19\/bitcoin-fails-to-stabilize-which-triggers-another-pullback\/"},"modified":"2024-08-19T12:04:09","modified_gmt":"2024-08-19T12:04:09","slug":"bitcoin-fails-to-stabilize-which-triggers-another-pullback","status":"publish","type":"post","link":"https:\/\/investingsstrategist.com\/index.php\/2024\/08\/19\/bitcoin-fails-to-stabilize-which-triggers-another-pullback\/","title":{"rendered":"Bitcoin fails to stabilize which triggers another pullback"},"content":{"rendered":"<div>\n<div><\/div>\n<h1>Bitcoin fails to stabilize which triggers another pullback<\/h1>\n<p><span>Over the weekend, the price of Bitcoin moved into a bullish consolidation supported by the EMA 200 moving average<\/span><\/p>\n<h2>Bitcoin chart analysis<\/h2>\n<p><span>Over the weekend, the price of Bitcoin moved into a bullish consolidation supported by the EMA 200 moving average. On Sunday, we climbed to the $60275 level but did not have the strength to strengthen the bullish side and continue the growth. The price had to initiate a <a href=\"https:\/\/www.financebrokerage.com\/gold-and-silver-gold-at-a-new-all-time-high-on-friday\/\">bearish<\/a> consolidation and return again below the $60,000 level.<\/span><\/p>\n<p><span>This further increased the pressure on Bitcoin, which fell to $58,400, with a couple of strong bearish impulses on Sunday. On Monday morning, the price found support at $58,238 and returned above the weekly open price. Since then, we have been consolidating above that level and moving in the $58400-$58800 range. If the support holds, we could see a bullish impulse start and move up to the $59,000 level. At the $59200 zone, Bitcoin will meet the EMA 50 and EMA200 moving averages.<\/span><\/p>\n<\/p>\n<p>\u00a0<\/p>\n<h2>The price slips back below the EMA 200 moving average and strengthens the bearish momentum<\/h2>\n<p><span>We expect new resistance there that could slow down further growth or stop it. It all depends on Bitcoin; if it holds there, it will have a chance to trigger a bullish consolidation, move above the EMA, and gain support. Potential higher targets are the $59500 and $59750 levels. We also hope to visit the weekend resistance zone around $60,000.<\/span><\/p>\n<p><span>For a bearish option, we need a negative consolidation and a drop below the $58430 daily open price. With that step, we will move to the bearish side and could test this morning\u2019s low. By descending to a new low, we confirm bearish momentum for further continuation on the bearish side. Potential lower targets are the $58,000 and $57,500 levels. Last week\u2019s low Bitcoin price was $56138.<\/span><\/p>\n<p>\u00a0<\/p>\n<p>The post <a href=\"https:\/\/www.financebrokerage.com\/bitcoin-fails-to-stabilize-which-triggers-another-pullback\/\">Bitcoin fails to stabilize which triggers another pullback<\/a> appeared first on <a href=\"https:\/\/www.financebrokerage.com\/\">FinanceBrokerage<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin fails to stabilize which triggers another pullback Over the weekend, the price of Bitcoin moved into a bullish consolidation supported by the EMA 200 moving average Bitcoin chart analysis Over the weekend, the price of Bitcoin moved into a bullish consolidation supported by the EMA 200 moving average. On Sunday, we climbed to the [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":865,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-864","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy"],"_links":{"self":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/posts\/864","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/comments?post=864"}],"version-history":[{"count":0,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/posts\/864\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/media\/865"}],"wp:attachment":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/media?parent=864"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/categories?post=864"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/tags?post=864"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}