BTC maintains price above the $20k level

The crypto market has made a positive start this week, adding more than 2% to its value in the last 24 hours.

The crypto market closed with a win last week and this week begins with good performance. The total cryptocurrency market is currently around $ 920 billion, up more than 2% in the last 24 hours.

Bitcoin, the world’s leading cryptocurrency by market capitalization, has been declining in performance over the last 24 hours. BTC has fallen less than 1% since the beginning of the day and continues to trade above $ 20,000.

Despite its current poor performance, BTC keeps its price above the psychological level of $ 20,000.

Bitcoin may try to soar higher in the coming hours, which may depend on the performance of the broader crypto market.

Notable important level

Bitcoin has been performing poorly over the last 24 hours, so the BTC / USD 4-hour chart remains neutral. Technical indicators show that Bitcoin is erasing some of its previous profits.

The MACD line is around the neutral zone, indicating that it is not currently responsible for either bullish or bearish. A 14-day Relative Strength Index of 40 indicates that Bitcoin may approach oversold areas.

If the bear remains in control, BTC could fall below the $ 20,000 support level in the next few hours. BTC could fall below the $ 19,643 support level if bearish performance is extended.

However, if the Bulls regain control, Bitcoin may retest its $ 21,000 resistance level in the coming hours. The second major resistance level at $ 21,983 should limit further rises in the short term.