The BTC/USD pair has been in a significant bearish trend over the last few months, according to the four-hour chart.
It was able to move below the 25-day and 50 day moving averages this month despite the Stochastic Oscillator being in an upward trend. The pair is just above the crucial support level of 19,520, which was the month’s lowest point. The main trend is still bearish. A stronger opening is expected to test the bears’ resolve. Resistance is located at 0.9980 and should cap gains to this area. Selling into rallies is the preferred trade. Further decline is expected. RSI index is indicating 40.00 and is going on a bullish wave.

• There is resistance 1.00435 followed by resistance at 1.01277 and 1.03603.
• There is support at 0.98911, Below, there is 0.98550 and 0.98000.

Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.