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{"id":461817,"date":"2021-04-21T03:08:43","date_gmt":"2021-04-21T03:08:43","guid":{"rendered":"https:\/\/uniquehot.com\/?p=461817"},"modified":"2024-06-11T13:55:08","modified_gmt":"2024-06-11T13:55:08","slug":"bitcoin-struggles-below-57k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-struggles-below-57k\/","title":{"rendered":"TA: Bitcoin Struggles Below $57K, Here\u2019s Why 100 SMA Holds The Key"},"content":{"rendered":"

Bitcoin price is holding the $55,000 support zone against the US Dollar. BTC must clear the $57,000 resistance and the 100 hourly SMA to move into a positive zone.<\/em><\/p>\n

\n
Bitcoin is somehow holding the $55,000 and $54,500 support levels.<\/li>\n
The price is now facing a strong resistance near $57,500 and the 100 hourly simple moving average.<\/li>\n
There was a break above a major declining channel with resistance near $55,250 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could start a strong increase if there is a clear break above the $57,500 resistance zone.<\/li>\n<\/ul>\n
Bitcoin Price is Facing Hurdles<\/h2>\n
Bitcoin remained below the main $57,500 resistance zone. BTC declined below the $55,000 support, but it found support near the $53,400 zone. A low was formed near $53,338 before the price started a fresh increase.<\/p>\n
It broke the $54,500 and $55,000 resistance levels. There was also a break above a major declining channel with resistance near $55,250 on the hourly chart of the BTC\/USD pair. The pair even climbed above $57,000, but it failed to clear the 100 hourly simple moving average<\/a>.<\/p>\n
A high is formed near $57,150 and the price is now correcting lower. It traded close to the 50% Fib retracement level of the upward move from the $53,338 low to $57,151 high.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
On the upside, the price is facing a strong resistance<\/a> near the $57,100 and $57,500 levels. The 100 hourly simple moving average is also near the $57,500 level to act as a hurdle. A successful break above the $57,500 resistance is must to start a strong increase in the coming sessions.<\/p>\n
Dips Supported in BTC?<\/h2>\n
If bitcoin fails to clear the $57,000 and $57,500 resistance levels, it could correct lower. An immediate support on the downside is near the $55,200 level.<\/p>\n
The first key support is near the $54,800 level. It is near the 61.8% Fib retracement level of the upward move from the $53,338 low to $57,151 high. Any more losses may possibly call for a retest of the $53,350 zone in the near term.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is struggling to gain momentum in the bullish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now close to the 50 level.<\/p>\n
Major Support Levels \u2013 $55,200, followed by $54,800.<\/p>\n
Major Resistance Levels \u2013 $56,500, $57,100 and $57,500.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price is holding the $55,000 support zone against the US Dollar. BTC must clear the $57,000 resistance and the 100 hourly SMA to move into a positive zone. Bitcoin is somehow holding the $55,000 and $54,500 support levels. The price is now facing a strong resistance near $57,500 and the 100 hourly simple moving average. There was a break above a major declining channel with resistance near $55,250 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start a strong increase if there is a clear break above the $57,500 resistance zone. Bitcoin Price is Facing Hurdles Bitcoin remained below the main $57,500 resistance zone. BTC declined below the $55,000 support, but it found support near the $53,400 zone. A low was formed near $53,338 before the price started a fresh increase. It broke the $54,500 and $55,000 resistance levels. There was also a break above a major declining channel with resistance near $55,250 on the hourly chart of the BTC\/USD pair. The pair even climbed above $57,000, but it failed to clear the 100 hourly simple moving average. A high is formed near $57,150 and the price is now correcting lower. It traded close to the 50% Fib retracement level of the upward move from the $53,338 low to $57,151 high. Source: BTCUSD on TradingView.com On the upside, the price is facing a strong resistance near the $57,100 and $57,500 levels. The 100 hourly simple moving average is also near the $57,500 level to act as a hurdle. A successful break above the $57,500 resistance is must to start a strong increase in the coming sessions. Dips Supported in BTC? If bitcoin fails to clear the $57,000 and $57,500 resistance levels, it could correct lower. An immediate support on the downside is near the $55,200 level. The first key support is near the $54,800 level. It is near the 61.8% Fib retracement level of the upward move from the $53,338 low to $57,151 high. Any more losses may possibly call for a retest of the $53,350 zone in the near term. Technical indicators: Hourly MACD \u2013 The MACD is struggling to gain momentum in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now close to the 50 level. Major Support Levels \u2013 $55,200, followed by $54,800. Major Resistance Levels \u2013 $56,500, $57,100 and $57,500.<\/p>\n","protected":false},"author":67,"featured_media":461819,"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-461817","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\nTA: Bitcoin Struggles Below $57K, Here\u2019s Why 100 SMA Holds The Key<\/title>\n<meta name=\"description\" content=\"Bitcoin price is holding the $55,000 support zone 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":"TA: Bitcoin Struggles Below $57K, Here\u2019s Why 100 SMA Holds The Key","url":"http:\/\/uniquehot.com\/news\/bitcoin-struggles-below-57k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-struggles-below-57k\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/04\/shutterstock_1334283245-1.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/04\/shutterstock_1334283245-1.jpg?fit=1000%2C667"},"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":"2021-04-21T03:08:43Z","datePublished":"2021-04-21T03:08:43Z","dateModified":"2024-06-11T13:55:08Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Bitcoin Struggles Below $57K, Here\\u2019s Why 100 SMA Holds The Key\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-struggles-below-57k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-struggles-below-57k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_1334283245-1.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_1334283245-1.jpg?fit=1000%2C667\"},\"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\":\"2021-04-21T03:08:43Z\",\"datePublished\":\"2021-04-21T03:08:43Z\",\"dateModified\":\"2024-06-11T13:55:08Z\"}<\/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\/2021\/04\/shutterstock_1334283245-1.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/461817"}],"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=461817"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/461817\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/461819"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=461817"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=461817"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=461817"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}