{"id":458057,"date":"2021-03-05T03:18:48","date_gmt":"2021-03-05T03:18:48","guid":{"rendered":"https:\/\/uniquehot.com\/?p=458057"},"modified":"2024-06-11T14:13:44","modified_gmt":"2024-06-11T14:13:44","slug":"bitcoin-btc-could-retest-45k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-btc-could-retest-45k\/","title":{"rendered":"TA: Bitcoin Price Back Below 100 SMA, Why BTC Could Retest $45K"},"content":{"rendered":"
Bitcoin price failed to stay above $50,000 and $49,000 against the US Dollar. BTC is now below the 100 hourly SMA and it is likely to continue lower towards $45,000<\/em><\/p>\n After forming a short-term top near the $52,600 level, bitcoin started a fresh decline. BTC traded below the $51,200 and $50,000 support levels<\/a> to move back into a negative zone.<\/p>\n There was also a break below a major bullish trend line with support near $49,500 on the hourly chart of the BTC\/USD pair. The pair even broke the $48,000 support level. There was a clear break below the 50% Fib retracement level of the upward wave from the $43,050 swing low to $52,650 high.<\/p>\n It is now trading well below $50,000 and the 100 hourly simple moving average<\/a>. It seems like the bulls are trying to protect the 61.8% Fib retracement level of the upward wave from the $43,050 swing low to $52,650 high.<\/p>\n <\/a><\/p>\n If they fail and the price trades below $46,500, there are chances of more losses. The next key support is near the $45,000 level, below which the bears might aim a test of the $43,000 support zone.<\/p>\n If bitcoin stays above $46,500, it could correct higher. An initial resistance on the upside is near the $48,000 level. The first major resistance is near the $49,000 level and the 100 hourly simple moving average.<\/p>\n There is also a connecting bearish trend line forming with resistance near $49,000 on the same chart. To move into a positive zone, the price must clear the trend line resistance and then gain pace above the $50,000 barrier.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is now gaining momentum in the bearish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now well below the 50 level.<\/p>\n Major Support Levels \u2013 $46,500, followed by $45,000.<\/p>\n Major Resistance Levels \u2013 $48,000, $49,000 and $50,000.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin price failed to stay above $50,000 and $49,000 against the US Dollar. BTC is now below the 100 hourly SMA and it is likely to continue lower towards $45,000 Bitcoin started a fresh decline below the $50,000 and $49,000 support levels. The price is now trading well below $50,000 and the 100 hourly simple moving average. There is a connecting bearish trend line forming with resistance near $49,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could extend its decline towards $45,000 as long as it is below $50,000. Bitcoin Price Turns Red After forming a short-term top near the $52,600 level, bitcoin started a fresh decline. BTC traded below the $51,200 and $50,000 support levels to move back into a negative zone. There was also a break below a major bullish trend line with support near $49,500 on the hourly chart of the BTC\/USD pair. The pair even broke the $48,000 support level. There was a clear break below the 50% Fib retracement level of the upward wave from the $43,050 swing low to $52,650 high. It is now trading well below $50,000 and the 100 hourly simple moving average. It seems like the bulls are trying to protect the 61.8% Fib retracement level of the upward wave from the $43,050 swing low to $52,650 high. Source: BTCUSD on TradingView.com If they fail and the price trades below $46,500, there are chances of more losses. The next key support is near the $45,000 level, below which the bears might aim a test of the $43,000 support zone. Fresh Increase in BTC? If bitcoin stays above $46,500, it could correct higher. An initial resistance on the upside is near the $48,000 level. The first major resistance is near the $49,000 level and the 100 hourly simple moving average. There is also a connecting bearish trend line forming with resistance near $49,000 on the same chart. To move into a positive zone, the price must clear the trend line resistance and then gain pace above the $50,000 barrier. Technical indicators: Hourly MACD \u2013 The MACD is now gaining momentum in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now well below the 50 level. Major Support Levels \u2013 $46,500, followed by $45,000. Major Resistance Levels \u2013 $48,000, $49,000 and $50,000.<\/p>\n","protected":false},"author":67,"featured_media":458059,"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-458057","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\n
Bitcoin Price Turns Red<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Fresh Increase in BTC?<\/h2>\n