{"id":459392,"date":"2021-03-24T03:08:15","date_gmt":"2021-03-24T03:08:15","guid":{"rendered":"https:\/\/uniquehot.com\/?p=459392"},"modified":"2024-06-11T14:14:13","modified_gmt":"2024-06-11T14:14:13","slug":"bitcoin-price-risk-losses-below-53k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-risk-losses-below-53k\/","title":{"rendered":"TA: Why Bitcoin Price Remains At Risk of More Losses Below $53K"},"content":{"rendered":"
Bitcoin price failed to correct above the $55,750 zone against the US Dollar. BTC is showing bearish signs and it remains at a risk of more losses below $54,000.<\/em><\/p>\n Yesterday, we saw a crucial decline<\/a> in bitcoin below the $55,500 support zone. BTC even broke the $54,000 level before starting an upside correction.<\/p>\n There was a recovery above the $55,000 resistance. The price even climbed above $55,500, but there was no follow up move. A high was formed near $55,757 before the price declined again. It broke the $55,000 support zone.<\/p>\n It is now trading well below $55,500 and the 100 hourly simple moving average<\/a>. There is also a key bearish trend line forming with resistance near $56,000 on the hourly chart of the BTC\/USD pair.<\/p>\n <\/a><\/p>\n An initial resistance on the upside is near the $54,650 level. It is near the 50% Fib retracement level of the recent drop from the $55,757 high to $53,504 low. The first major resistance is near the $54,850 and $55,000 levels.<\/p>\n The 61.8% Fib retracement level of the recent drop from the $55,757 high to $53,504 low is also near $54,850. To start a steady recovery, the price must settle above $55,000 and $55,500. The next major resistance for the bulls could be near the $57,000 region.<\/p>\n If bitcoin fails to correct higher above $55,000 and $55,500, there are chances of more downsides in the near term. An initial support is near the $54,000 level.<\/p>\n The key support is now near the $53,150 level, below which the bears might aim a test of the $50,000 support zone in the near term.<\/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 $53,000, followed by $51,750.<\/p>\n Major Resistance Levels \u2013 $54,850, $55,000 and $55,500.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin price failed to correct above the $55,750 zone against the US Dollar. BTC is showing bearish signs and it remains at a risk of more losses below $54,000. Bitcoin failed to correct higher and it struggled to settle above $55,500. The price is now trading well below $55,500 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $56,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is likely to decline heavily if it fails to stay above $54,000 and $53,750. Bitcoin Price Signaling Bearish Signs Yesterday, we saw a crucial decline in bitcoin below the $55,500 support zone. BTC even broke the $54,000 level before starting an upside correction. There was a recovery above the $55,000 resistance. The price even climbed above $55,500, but there was no follow up move. A high was formed near $55,757 before the price declined again. It broke the $55,000 support zone. It is now trading well below $55,500 and the 100 hourly simple moving average. There is also a key bearish trend line forming with resistance near $56,000 on the hourly chart of the BTC\/USD pair. Source: BTCUSD on TradingView.com An initial resistance on the upside is near the $54,650 level. It is near the 50% Fib retracement level of the recent drop from the $55,757 high to $53,504 low. The first major resistance is near the $54,850 and $55,000 levels. The 61.8% Fib retracement level of the recent drop from the $55,757 high to $53,504 low is also near $54,850. To start a steady recovery, the price must settle above $55,000 and $55,500. The next major resistance for the bulls could be near the $57,000 region. More Losses in BTC? If bitcoin fails to correct higher above $55,000 and $55,500, there are chances of more downsides in the near term. An initial support is near the $54,000 level. The key support is now near the $53,150 level, below which the bears might aim a test of the $50,000 support zone in the near term. 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 $53,000, followed by $51,750. Major Resistance Levels \u2013 $54,850, $55,000 and $55,500.<\/p>\n","protected":false},"author":67,"featured_media":459394,"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-459392","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 Signaling Bearish Signs<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
More Losses in BTC?<\/h2>\n