{"id":458751,"date":"2021-03-16T03:08:23","date_gmt":"2021-03-16T03:08:23","guid":{"rendered":"https:\/\/uniquehot.com\/?p=458751"},"modified":"2024-06-11T14:13:59","modified_gmt":"2024-06-11T14:13:59","slug":"bitcoin-corrects-10-percent","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-corrects-10-percent\/","title":{"rendered":"TA: Bitcoin Corrects 10%, Why BTC Could Extend Losses"},"content":{"rendered":"
Bitcoin price started a major downside correction and it traded below $55,000 against the US Dollar. BTC is showing a few bearish signs and it could extend losses towards $52,000.<\/em><\/p>\n
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Bitcoin started a major decline and it broke the $58,000 and $55,000 support levels.<\/li>\n
The price is now trading well below $58,000 and the 100 hourly simple moving average.<\/li>\n
There was a break below a crucial bullish trend line with support near $58,100 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair is trading near $53,500 and it could correct higher in the short-term.<\/li>\n<\/ul>\n