Bitcoin Price Stuck In Range, Why BTC Is Still At Major Risk of Breakdown

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Bitcoin is struggling to settle above $20,500 against the US Dollar. BTC could decline heavily if there is a clear move below the $19,500 support zone.
Bitcoin is stuck near the $20,000 zone and trading below the $20,500 resistance.
The price is now trading below the $20,000 level and the 100 hourly simple moving average.
There is a short-term rising channel forming with support near $19,750 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could accelerate lower if there is a clear move below the $19,600 and $19,500 levels.
Bitcoin Price Remains in a Range
Bitcoin price traded in a range below the $20,500 and $20,550 resistance levels. BTC failed on many occasions to clear the $20,500 resistance zone.
At the same time, the bulls were active above the $19,500 support zone. The recent low was formed near $19,600 and the price is now moving higher in the range. There was a minor increase above the $19,750 resistance zone. The price climbed above the 23.6% Fib retracement level of the recent decline from the $20,397 swing high to $19,600 low. Source