Bitcoin price will continue to weaken, this is the price range

In addition, the conflict between Russia and Ukraine seems to be heating up again after President Putin increased the number of troops, bringing fears of soaring world crude oil prices.

Bitcoin price will continue to weaken

Rising US interest rates have shrunk investors' risk appetite for assets such as stocks and cryptocurrencies, causing BTC prices to weaken again, below $19,000.Based on the CryptoNews report, technically the prices of major cryptocurrencies are still in a downtrend, so the outlook for the rest of September will still be sluggish.

Two global sentiments point to a bearish potential, so the price of Bitcoin is likely to continue to weaken until there is a new sentiment that is able to reverse the investor's point of view.From a technical analysis point of view, the daily chart of BTC still shows a bearish price structure.Based on the Crypto Potato report, in the chart above the BTC price has three potential support levels at US$18,000, US$16,000 and US$14,000.

If the three supports cannot hold the seller's impulse, then the price has a chance to fall deeper. Chances are it could be lower than US$10,000.Meanwhile, there is a potential resistance level that needs to be broken to confirm the “start of a recovery opportunity,” which is at US$20,640.

There is still hope

While 2022 looks set to be bad for the crypto market, there are currently some economic signs, implying a peak in inflation and interest rates.In some countries, the inflation rate has stopped rising, or has even fallen. One of them occurred in the UK, where the inflation rate had fallen for July and August, but remained high at 9.9 percent.

In addition, a slight easing of oil prices which continued to surge in recent months can be a new hope. However, this sticks to every decision of the President of Russia, which is still in conflict with Ukraine.Even though it looks bleak, industrial development is actually moving in a positive direction, with the presence of big players such as BlackRock and Fidelity.

Some see things better for the crypto market in 2023, as a slowdown in inflation is expected and the industry continues to grow. Lets watch.