Bitcoin price plummeted consistently after it breached the $20,000 mark. Over the last 24 hours, the Bitcoin has registered very little movement. In the past week, BTC lost close to 16% of its value. BTC quickly attempted to recover from the $19,000 price mark on its chart. However, the bulls couldn’t defend that price mark. The closest support line for the Bitcoin price was $18,000. Bitcoin has been on a consistent downtrend over the past few months. The technical outlook of the coin pointed towards increased bearish strength. Selling pressure continued to exceed buying strength on the one-day chart. The $20,000 price mark will prove to be a strong resistance mark. $20,000 is the key resistance mark for the Bitcoin price. Increased buying power may provide the coin with some temporary relief. The global cryptocurrency market cap today is at $962 billion, with a 0.6% positive change in the last 24 hours. Bitcoin Price Analysis: One Day Chart BTC was trading at $18,800 at the time of writing. A few sessions before this, Bitcoin was trading above the $19,000 price mark. The overhead resistance for the coin was at $20,000, which BTC struggled to move past over the past few days. A sharp decline in buying strength has caused BTC to plunge further and quickly. If BTC moves above the $20,000 price level, the bearish thesis could be invalidated. On the other hand, lower demand for the asset can even drag Bitcoin price to $17,40...
