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Bitcoin fell below the $21,000 resistance level against the US dollar. BTC is showing bearish signs and is sensitive to a significant drop below $20,000.On Wednesday, price movement in the cryptocurrency market was mixed as investors digested the previous day’s dip following a hotter-than-expected inflation estimate which sent global financial markets tumbling.The price had recovered from the $18.6 level and was moving towards the $22.8K resistance level, as seen on the daily chart. However, the 50-day and 100-day moving average lines, together with the major bearish trendline, halted the rally. As a result, the price was rejected immediately at the $22K mark after failing to break above these key dynamic resistance levels.The market appears to be moving back to the $18K support level. A bearish breakout from the crucial $18K barrier might set off another wild fall for the price, taking Bitcoin to $15K.Throughout early trading,<a href="https://www.coingabbar.com/en/crypto-currency/bitcoin-btc-prices-usd" rel="noopener noreferrer nofollow"> Bitcoin (BTC)</a> bulls resisted the psychologically key support level of $20,000, but were overcome by a bearish onslaught in the afternoon session, resulting in BTC falling to a daily low of $19,625.Bitcoin’s price remained bearish, trading below $21,000. There was a short recovery wave, but bears were aggressive between the $20,300 and $20,350 levels, which were close to the 100 hourly simple moving average.The price started a new drop and traded below the $20,000 level. It even broke the previous swing low and reached a new weekly low of $19,625. On the 4-hour chart, the price is presently trading below $20,350 and the 100 hourly simple moving average.According to Price Analysis, The market capitalization of this BTC is estimated to be $420,699,886,622. The 24-hour trading volume for the same coin is around $38,081,512,176.An immediate resistance barrier on the upside is $20,350. The next significant barrier is placed at the $20,700 level. A closing above the $20,700 barrier level might spark a new rise. In this situation, the price may rise to $21,200 or higher. Any further advances might push the price up to the $22,000 barrier level.If bitcoin fails to break through the $20,3050 barrier level, it may continue to fall. On the downside, the $20,000 level provides immediate support. The next significant support is at $19,600 and $19,500. If the price falls below $19,500, it may move towards the $18,500 support.KEY LEVELS :RESISTANCE LEVEL : $20600-$21200SUPPORT LEVEL : $19600-$19000<img src="https://academy-public.coinmarketcap.com/optimized-uploads/8fab595cfa6c4e46a540395b06081d00.png" />BTC is trading around $20000. Are you keeping an eye on the 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 : Bitcoin trades near $20K, Who would win in a fight: a bull or a bear?

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