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{"id":427346,"date":"2020-06-14T04:28:21","date_gmt":"2020-06-14T04:28:21","guid":{"rendered":"https:\/\/uniquehot.com\/?p=427346"},"modified":"2024-06-11T14:03:56","modified_gmt":"2024-06-11T14:03:56","slug":"bitcoin-price-100-sma-could-trigger-another-drop","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-100-sma-could-trigger-another-drop\/","title":{"rendered":"Bitcoin Price is Recovering But 100 SMA Could Trigger Another Sharp Drop"},"content":{"rendered":"

Bitcoin started a major decline after it was rejected near the $10,000 resistance against the US Dollar. BTC is currently recovering, but it is likely to face sellers near the 100 SMA (H4).<\/em><\/p>\n

\n
Bitcoin traded as low as $9,084 and it is currently correcting higher.<\/li>\n
The price is likely to face sellers near the $9,600 level and the 100 simple moving average (4-hours).<\/li>\n
There is a major bearish trend line forming with resistance near $9,770 on the 4-hours chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair remains at a risk of more losses as long as it is below $9,600 and $9,700.<\/li>\n<\/ul>\n
Bitcoin Turns Red<\/h2>\n
This past week, bitcoin failed to settle above the $10,000 resistance zone against the US Dollar. BTC price traded as high as $9,989 and started a major decline<\/a> below the $9,900 and $9,800 levels.<\/p>\n
The bears took control and were able to push the price below the $9,500 support and the 100 simple moving average (4-hours). The decline was initiated after there was a break below a key ascending channel with support near the $9,780 level on the 4-hours chart<\/a> of the BTC\/USD pair.<\/p>\n
$\"Bitcoin$ <\/a>
Bitcoin Price<\/figcaption><\/figure>\n
The decline was such that the pair broke the $9,200 support and traded as low as $9,084. Bitcoin is currently correcting higher and trading above the $9,300 level.<\/p>\n
It surpassed the 23.6% Fib retracement level of the downward move from the $9,989 swing high to $9,084 low. On the upside, an initial resistance is near the $9,500 and $9,540 levels.<\/p>\n
The 50% Fib retracement level of the downward move from the $9,989 swing high to $9,084 low is also near $9,537. The first major resistance is near the $9,600 level and the 100 simple moving average (4-hours).<\/p>\n
There is also a major bearish trend line forming with resistance near $9,770 on the same chart. Therefore, the price must break the 100 SMA (H4) and then the trend line to move into a positive zone.<\/p>\n
More Losses in BTC?<\/h2>\n
If bitcoin fails to clear the $9,500 resistance zone or the 100 simple moving average (4-hours), it could resume its decline below the $9,400 level.<\/p>\n
The first key support is seen near the $9,300 level, below which it could retest the $9,080 zone. The main support<\/a> is seen near the $9,000 level, where the bulls might take a stand.<\/p>\n
Technical indicators<\/p>\n
4 hours MACD \u2013 The MACD for BTC\/USD is slowly moving in the bullish zone.<\/p>\n
4 hours RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently just above the 40 level.<\/p>\n
Major Support Level \u2013 $9,300<\/p>\n
Major Resistance Level \u2013 $9,600<\/p>\n
Take advantage of the trading opportunities with Plus500<\/a><\/p>\n
Risk disclaimer: 76.4% of retail CFD accounts lose money.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin started a major decline after it was rejected near the $10,000 resistance against the US Dollar. BTC is currently recovering, but it is likely to face sellers near the 100 SMA (H4). Bitcoin traded as low as $9,084 and it is currently correcting higher. The price is likely to face sellers near the $9,600 level and the 100 simple moving average (4-hours). There is a major bearish trend line forming with resistance near $9,770 on the 4-hours chart of the BTC\/USD pair (data feed from Kraken). The pair remains at a risk of more losses as long as it is below $9,600 and $9,700. Bitcoin Turns Red This past week, bitcoin failed to settle above the $10,000 resistance zone against the US Dollar. BTC price traded as high as $9,989 and started a major decline below the $9,900 and $9,800 levels. The bears took control and were able to push the price below the $9,500 support and the 100 simple moving average (4-hours). The decline was initiated after there was a break below a key ascending channel with support near the $9,780 level on the 4-hours chart of the BTC\/USD pair. The decline was such that the pair broke the $9,200 support and traded as low as $9,084. Bitcoin is currently correcting higher and trading above the $9,300 level. It surpassed the 23.6% Fib retracement level of the downward move from the $9,989 swing high to $9,084 low. On the upside, an initial resistance is near the $9,500 and $9,540 levels. The 50% Fib retracement level of the downward move from the $9,989 swing high to $9,084 low is also near $9,537. The first major resistance is near the $9,600 level and the 100 simple moving average (4-hours). There is also a major bearish trend line forming with resistance near $9,770 on the same chart. Therefore, the price must break the 100 SMA (H4) and then the trend line to move into a positive zone. More Losses in BTC? If bitcoin fails to clear the $9,500 resistance zone or the 100 simple moving average (4-hours), it could resume its decline below the $9,400 level. The first key support is seen near the $9,300 level, below which it could retest the $9,080 zone. The main support is seen near the $9,000 level, where the bulls might take a stand. Technical indicators 4 hours MACD \u2013 The MACD for BTC\/USD is slowly moving in the bullish zone. 4 hours RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently just above the 40 level. Major Support Level \u2013 $9,300 Major Resistance Level \u2013 $9,600 Take advantage of the trading opportunities with Plus500 Risk disclaimer: 76.4% of retail CFD accounts lose money.<\/p>\n","protected":false},"author":67,"featured_media":427348,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3,4],"tags":[428,1144,78790,76835],"class_list":["post-427346","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","category-analysis","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\nBitcoin Price is Recovering But 100 SMA Could Trigger Another Sharp Drop<\/title>\n<meta name=\"description\" content=\"Bitcoin started a major decline after it was rejected near the $10,000 resistance against the US Dollar. 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His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.","sameAs":["https:\/\/www.linkedin.com\/in\/aayush-jindal-358b6932\/","https:\/\/x.com\/twitter.com\/AayushJs"],"url":"https:\/\/uniquehot.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Price is Recovering But 100 SMA Could Trigger Another Sharp Drop","url":"http:\/\/uniquehot.com\/news\/bitcoin-price-100-sma-could-trigger-another-drop\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-price-100-sma-could-trigger-another-drop\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/shutterstock_552258877.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/shutterstock_552258877.jpg?fit=1000%2C667"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btcusd","btcusdt","xbtusd"],"dateCreated":"2020-06-14T04:28:21Z","datePublished":"2020-06-14T04:28:21Z","dateModified":"2024-06-11T14:03:56Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price is Recovering But 100 SMA Could Trigger Another Sharp Drop\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-100-sma-could-trigger-another-drop\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-100-sma-could-trigger-another-drop\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/shutterstock_552258877.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/shutterstock_552258877.jpg?fit=1000%2C667\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btcusd\",\"btcusdt\",\"xbtusd\"],\"dateCreated\":\"2020-06-14T04:28:21Z\",\"datePublished\":\"2020-06-14T04:28:21Z\",\"dateModified\":\"2024-06-11T14:03:56Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/shutterstock_552258877.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/427346"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=427346"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/427346\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/427348"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=427346"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=427346"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=427346"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}

More Losses in BTC?<\/h2>\nIf bitcoin fails to clear the $9,500 resistance zone or the 100 simple moving average (4-hours), it could resume its decline below the $9,400 level.<\/p>\n