Bitcoin’s price is battling to break through $19,200 versus the US dollar. It could begin a significant drop if BTC breaches the $18,900 and $18,500 support levels. BITCOIN attempted to break through the $19,500 barrier level. BTC stayed in a bearish zone, failing to break over the $19,400 barrier. A high was made near $19,344, and a new fall ensued.

The price dropped below $19,200 and touched $18,950. The price has created a low near $18,938 and is now accumulating losses. It was trading above the latest slide’s 23.6% Fib retracement level from the swing high of $19,344 to the low of $18,938.

Bitcoin is currently trading below the $19,400 mark and the 100-day SMA. The BTC/USD pair is forming a short-term breakout pattern with resistance near $19,200 on the hourly timeframe.

On the upside, an important resistance level is nearly $19,150. It is near the 50% Fib retracement level of the latest collapse from the swing high of $19,344 to the low of $18,938. The first significant barrier is located between the $19,200 level and the trend line.

Bitcoin (BTC/USD) Technical Outlook

The next significant resistance level could be $19,300, or the 100-day SMA. A clear break above the $19,300 resistance level might drive the price toward the $19,500 level. Any further increases could pave the way for a move toward the $20,000 resistance zone.

If Bitcoin fails to break through the $19,200 barrier level, it may continue to fall. On the downside, there is immediate support near $19,000. The next major support level is around $18,900.

A negative break and closure below $18,500 could signal a test of the primary breakdown support. If there are further losses, the price might fall to $17,500.