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The whole crypto market price is continually increasing, and the price has risen above the crucial trendline support in the last 24 hours.The market has simply managed to maintain its ground since the crash after Jerome Powell’s speech at the Jackson Hole Symposium, but that seems to be reversing.Currently, BTC prices are dropping under unexpected selling pressure, as the most recent CPI data shows an 8.3% year-over-year inflation rate. Moreover, a 1% increase in interest rates now looks plausible in light of the dismal CPI figures.<a href="https://www.coingabbar.com/en/crypto-currency/bitcoin-btc-prices-usd" rel="noopener noreferrer nofollow">Bitcoin</a> started a sharp decline against the US dollar below the $22,000 level. To avoid more losses, BTC must remain above the $20,000 support level. On the charts, we can see a broader market recovery, and if prices can hold above this trendline support, we should expect some very strong positive price action in the future.Bitcoin’s price attempted to break through the $22,000 and $22,500 resistance levels. The price even broke the $22,750 resistance level as well as the 100 hourly simple moving average.However, the price failed to gain momentum and reached near the $22,800 level. As a result, a bearish trend formed below the $22,000 and $21,500 levels. There was also a drop below $21,000 and the 100 hourly simple moving average.On a weekly basis, the Bitcoin (BTC) price movement shows a double bottom near the $18850 support level. Given that the price has recovered twice from this level in the previous three months, it acts as critical base support.Furthermore, on the hourly chart of the BTC/USD pair, there was a breach below a significant bullish trend line with support at $21,900 and $20800. Bitcoin’s price even approached the $20,000 level. The price has created a bottom near $19,855, and it is presently consolidating losses.According to Price Analysis, The market capitalization of this BTC is estimated to be $426,671,219,264. The 24-hour trading volume for the same coin is around $50,337,473,652.On the upside, an immediate resistance level is at $20,600. The next significant barrier is placed at the $21,350 level. A closing above the $21,350 barrier level might spark a new rise. In this situation, the price may rise to $22,000 or higher. Any further advances might push the price up to the $22,500 barrier level.If BTC fails to break through the $20,600 barrier level, it may continue to fall. On the downside, there is immediate support at $19,000. The next major support level is at $19,500, below which the price may accelerate downward. In the aforementioned scenario, the price may fall to $18,500.KEY LEVELS :RESISTANCE LEVEL : $20800-$21800SUPPORT LEVEL : $19800-$19400<img src="https://academy-public.coinmarketcap.com/optimized-uploads/25471cc627db43e09740a87971882b88.png" />BTC falls sharply, with $20000 serving as a trendline support. Are you looking to invest at lower levels?Get more crypto related updates on ;-<a href="https://www.coingabbar.com/en/crypto-news-english" rel="noopener noreferrer nofollow"> https://www.coingabbar.com/en/crypto-news-english</a>

BITCOIN PRICE ANALYSIS : Will BTC hold the $20000 level after Powell’s speech at the Jackson Hole Symposium?

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