{"id":450541,"date":"2020-11-23T03:48:03","date_gmt":"2020-11-23T03:48:03","guid":{"rendered":"https:\/\/uniquehot.com\/?p=450541"},"modified":"2024-06-11T14:08:40","modified_gmt":"2024-06-11T14:08:40","slug":"bitcoin-trades-below-100-sma","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-trades-below-100-sma\/","title":{"rendered":"TA: Bitcoin Trades Below 100 SMA, Why BTC Could Face Short-term Dips"},"content":{"rendered":"<p><em>Bitcoin price failed to continue higher above $18,800 and corrected lower against the US Dollar. BTC is now trading below the 100 hourly SMA and showing a few bearish signs.<\/em><\/p>\n<ul>\n<li>Bitcoin is facing a <a href=\"https:\/\/uniquehot.com\/analysis\/btc\/bitcoin-near-crucial-juncture-why-btc-could-surge-above-18-8k\/\" target=\"_blank\" rel=\"noopener \">strong resistance<\/a> near the $18,700 and $18,800 levels.<\/li>\n<li>The price is now trading below $18,500 and the 100 hourly simple moving average.<\/li>\n<li>There is a short-term ascending channel forming with support near $18,150 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could correct sharply below $18,150 and $18,000 levels in the near term.<\/li>\n<\/ul>\n<h2>Bitcoin Price is Struggling Below $18.8K<\/h2>\n<p>There were a couple of swing moves in bitcoin price (unlike <a href=\"https:\/\/uniquehot.com\/analysis\/eth\/ethereum-could-correct-gains-530\/\" target=\"_blank\" rel=\"noopener \">Ethereum<\/a> and <a href=\"https:\/\/uniquehot.com\/analysis\/xrp\/ripple-xrp-could-restart-rally-030\/\" target=\"_blank\" rel=\"noopener \">ripple<\/a>) below the $18,200 and $18,000 levels. BTC traded close to the $17,500 support area before there was a fresh increase.<\/p>\n<p>However, the price struggled to gain momentum and it seems to be facing a strong resistance near the $18,700 and $18,800 levels. The last swing high was near $18,700 before the price dived below $18,200. It traded as low as $17,991 and settled below the 100 hourly simple moving average.<\/p>\n<p>Bitcoin is currently correcting higher and trading above $18,100. There was a break above the 23.6% Fib retracement level of the recent decline from the $18,703 high to $17,991 low.<\/p>\n<p><a href=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/11\/Bitcoin-19.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"1828\" height=\"868\" class=\"alignnone size-full wp-image-450542\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/11\/Bitcoin-19.png?resize=1828%2C868\" alt=\"Bitcoin Price\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/11\/Bitcoin-19.png?w=1828 1828w, https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/11\/Bitcoin-19.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/11\/Bitcoin-19.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/11\/Bitcoin-19.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/11\/Bitcoin-19.png?w=1536 1536w, https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/11\/Bitcoin-19.png?w=750 750w, https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/11\/Bitcoin-19.png?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<pre>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/pre>\n<p>An immediate resistance is near the $18,350 level and the 100 hourly simple moving average. It is close to the 50% Fib retracement level of the recent decline from the $18,703 high to $17,991 low. Moreover, there is a short-term ascending channel forming with support near $18,150 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>If there is a downside break below the channel support, there is a risk of more losses below the $18,000 support level. The next major support on the downside is near the $17,500 and $17,350 levels.<\/p>\n<h2>Fresh Increase in BTC?<\/h2>\n<p>If bitcoin stays above the channel support or $18,000, it could attempt another increase above the 100 hourly SMA. The first major resistance is near the $18,500 level.<\/p>\n<p>The main hurdle for the bulls is forming near the $18,800 level. A successful break above the $18,800 zone is must to start a fresh rally. The next major resistance above $18,800 could be $19,500.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is slowly gaining momentum in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently correcting higher towards the 50 level.<\/p>\n<p>Major Support Levels \u2013 $18,150, followed by $18,000.<\/p>\n<p>Major Resistance Levels \u2013 $18,350, $18,500 and $18,800.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price failed to continue higher above $18,800 and corrected lower against the US Dollar. BTC is now trading below the 100 hourly SMA and showing a few bearish signs. Bitcoin is facing a strong resistance near the $18,700 and $18,800 levels. The price is now trading below $18,500 and the 100 hourly simple moving average. There is a short-term ascending channel forming with support near $18,150 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could correct sharply below $18,150 and $18,000 levels in the near term. Bitcoin Price is Struggling Below $18.8K There were a couple of swing moves in bitcoin price (unlike Ethereum and ripple) below the $18,200 and $18,000 levels. BTC traded close to the $17,500 support area before there was a fresh increase. However, the price struggled to gain momentum and it seems to be facing a strong resistance near the $18,700 and $18,800 levels. The last swing high was near $18,700 before the price dived below $18,200. It traded as low as $17,991 and settled below the 100 hourly simple moving average. Bitcoin is currently correcting higher and trading above $18,100. There was a break above the 23.6% Fib retracement level of the recent decline from the $18,703 high to $17,991 low. Source: BTCUSD on TradingView.com An immediate resistance is near the $18,350 level and the 100 hourly simple moving average. It is close to the 50% Fib retracement level of the recent decline from the $18,703 high to $17,991 low. Moreover, there is a short-term ascending channel forming with support near $18,150 on the hourly chart of the BTC\/USD pair. If there is a downside break below the channel support, there is a risk of more losses below the $18,000 support level. The next major support on the downside is near the $17,500 and $17,350 levels. Fresh Increase in BTC? If bitcoin stays above the channel support or $18,000, it could attempt another increase above the 100 hourly SMA. The first major resistance is near the $18,500 level. The main hurdle for the bulls is forming near the $18,800 level. A successful break above the $18,800 zone is must to start a fresh rally. The next major resistance above $18,800 could be $19,500. Technical indicators: Hourly MACD \u2013 The MACD is slowly gaining momentum in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently correcting higher towards the 50 level. Major Support Levels \u2013 $18,150, followed by $18,000. Major Resistance Levels \u2013 $18,350, $18,500 and $18,800.<\/p>\n","protected":false},"author":67,"featured_media":450543,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1144,78790,76835],"class_list":["post-450541","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n<title>TA: Bitcoin Trades Below 100 SMA, Why BTC Could Face Short-term Dips<\/title>\n<meta name=\"description\" content=\"Bitcoin price failed to continue higher above $18,800. 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Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation. As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. 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":"TA: Bitcoin Trades Below 100 SMA, Why BTC Could Face Short-term Dips","url":"http:\/\/uniquehot.com\/news\/bitcoin-trades-below-100-sma\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-trades-below-100-sma\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/11\/shutterstock_415985398.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/11\/shutterstock_415985398.jpg?fit=1000%2C636"},"articleSection":"Cryptocurrency Market News","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":"2020-11-23T03:48:03Z","datePublished":"2020-11-23T03:48:03Z","dateModified":"2024-06-11T14:08:40Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Bitcoin Trades Below 100 SMA, Why BTC Could Face Short-term Dips\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-trades-below-100-sma\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-trades-below-100-sma\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/11\\\/shutterstock_415985398.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/11\\\/shutterstock_415985398.jpg?fit=1000%2C636\"},\"articleSection\":\"Cryptocurrency Market News\",\"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\":\"2020-11-23T03:48:03Z\",\"datePublished\":\"2020-11-23T03:48:03Z\",\"dateModified\":\"2024-06-11T14:08:40Z\"}<\/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\/11\/shutterstock_415985398.jpg?fit=1000%2C636","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/450541","targetHints":{"allow":["GET"]}}],"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=450541"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/450541\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/450543"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=450541"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=450541"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=450541"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}