1. Home
  2. >
  3. Price Analysis
  4. >
  5. Bitcoin Price Analysis; September...
Bitcoin Price

Bitcoin Price Analysis; September 3, 2022

Join us on Social, Beyond the Website

Bitcoin price failed to surpass $20,400 and annoyingly fell down to $19,746. Currently, BTC is below $20,000 and in case of losing the $19,800, it could fall further. With that, Bitcoin might reach $19,600 and $19,500 in short-term. Here is a summary of Bitcoin price in the past 24 hours:

Exchange Bitcoin to PayPal on HiExchange

  • BTC failed to surpass $20,400 and formed a downtrend.
  • Currently, BTC is trading below $20,400 and the 1-hour candles are below the SMA100.
  • On the 1-hour chart, we see a new channel forming with resistance at $20,430.
  • In case Bitcoin loses the $19,800, it could quickly fall down to $19,500.

Bitcoin Price Action Analysis

Bitcoin finally surpassed the $20,000 level after hours of ranging with a recovery attempt. However, the sellers pushed it back down at $20,400 and BTC lost the $20,200 and $20,000 levels. The lowest recorder price in the past 24 hours has been $19,750 and this is where BTC bounced back. At the moment, Bitcoin is trading below the $20,400 and the 1-hour candles are below the SMA100. On the 1-hour chart, we see a new channel forming with resistance at $20,430.

The first resistance level for BTC is at $20,000 followed closely by $20,100 and the SM100. Further growth can potentially push BTC up to $20,200 and $20,350. After that, the $20,430 and $20,480 will be the next resistance levels. With a successful breakthrough from $20,500, BTC could possible reach $21,000 in short-term.

On the other hand, if Bitcoin price fails to surpass $20,000, it would move toward the bottom of the channel. In which case, the $19,800 will be the first support level followed by $19,650. Further decline can bring BTC down to $19,550 and $19,520. By dipping below $19,500, the price could quickly fall down to $18,500.

The Technical Indicators

MACD indicator: at the time of writing this article the 1-hour MACD indicator for BTC is on an downward momentum.

RSI: the 1-hour relative strength index is currently below 50.

Resistance levels: Right now, the $20,000, $20,200 and $20,480 are crucial resistance levels for BTC.

Support levels: The $19,520 is currently the key support level for the price.


HiExchange is a decentralized online platform to exchange your cryptocurrencies and e-currencies. We utilize an automated system to determine the best exchange rates at any moment. Furthermore, HiExchange does not require KYC or a sign-up process. Also, the platform offers 24/7 customer support.

To learn how to exchange your cryptocurrencies to PayPal you can read our instructional article.

For more instructional content, you can always visit HiExchange Blog

Share Article:

Leave a Reply

Your email address will not be published. Required fields are marked *