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{"id":461911,"date":"2021-04-22T02:28:20","date_gmt":"2021-04-22T02:28:20","guid":{"rendered":"https:\/\/uniquehot.com\/?p=461911"},"modified":"2024-06-11T13:55:09","modified_gmt":"2024-06-11T13:55:09","slug":"bitcoin-stuck-in-range-55k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-stuck-in-range-55k\/","title":{"rendered":"TA: Bitcoin Stuck in Range, Here\u2019s What Could Trigger More Losses"},"content":{"rendered":"

Bitcoin price is trading in a range below the $57,500 resistance against the US Dollar. BTC is likely to start a major decline if there is a clear break below the $53,500 support zone.<\/em><\/p>\n

\n
Bitcoin is struggling to gain momentum above the $56,000 and $56,500 levels.<\/li>\n
The price is now trading well below $56,500 and the 100 hourly simple moving average.<\/li>\n
There is a new declining channel forming with resistance near $55,750 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could correct higher, but the bulls are likely to struggle near $55,750 and $56,500.<\/li>\n<\/ul>\n
Bitcoin Price Remains At Risk<\/h2>\n
Bitcoin recovered higher<\/a> above the $56,000 level, but the bulls failed to gain strength. BTC topped near the $56,400 level and it failed to clear the 100 hourly simple moving average.<\/p>\n
A high was formed near $56,404 and the price resumed its decline. It broke the $55,400 support and revisited the $53,500 support zone. A low is formed near $53,650 and the price is now consolidating losses. An immediate resistance is near the $55,050 level.<\/p>\n
The 50% Fib retracement level of the recent decline from the $56,404 high to $53,670 low is also near $55,050. The next key resistance is near the $55,400 level.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/p>\n
Moreover, there is a new declining channel forming with resistance near $55,750 on the hourly chart of the BTC\/USD pair. The channel resistance is close to the 76.4% Fib retracement level of the recent decline from the $56,404 high to $53,670 low.<\/p>\n
Above the channel resistance, the main range resistance is near the $57,500 level. A successful break above the channel resistance and then a follow up move above $57,500 is must to start a fresh rally.<\/p>\n
Downside Break in BTC?<\/h2>\n
If bitcoin fails to clear the $55,050 and $55,500 resistance levels, it could correct lower. An immediate support on the downside is near the $54,000 level.<\/p>\n
The first key support is near the $53,500 level and the channel lower trend line. Any more losses may possibly call for a downside break<\/a> towards the $51,000 and $50,000 levels.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is slowly gaining pace in the bearish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level.<\/p>\n
Major Support Levels \u2013 $54,000, followed by $53,500.<\/p>\n
Major Resistance Levels \u2013 $55,050, $55,500 and $56,500.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price is trading in a range below the $57,500 resistance against the US Dollar. BTC is likely to start a major decline if there is a clear break below the $53,500 support zone. Bitcoin is struggling to gain momentum above the $56,000 and $56,500 levels. The price is now trading well below $56,500 and the 100 hourly simple moving average. There is a new declining channel forming with resistance near $55,750 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could correct higher, but the bulls are likely to struggle near $55,750 and $56,500. Bitcoin Price Remains At Risk Bitcoin recovered higher above the $56,000 level, but the bulls failed to gain strength. BTC topped near the $56,400 level and it failed to clear the 100 hourly simple moving average. A high was formed near $56,404 and the price resumed its decline. It broke the $55,400 support and revisited the $53,500 support zone. A low is formed near $53,650 and the price is now consolidating losses. An immediate resistance is near the $55,050 level. The 50% Fib retracement level of the recent decline from the $56,404 high to $53,670 low is also near $55,050. The next key resistance is near the $55,400 level. Source: BTCUSD on TradingView.com Moreover, there is a new declining channel forming with resistance near $55,750 on the hourly chart of the BTC\/USD pair. The channel resistance is close to the 76.4% Fib retracement level of the recent decline from the $56,404 high to $53,670 low. Above the channel resistance, the main range resistance is near the $57,500 level. A successful break above the channel resistance and then a follow up move above $57,500 is must to start a fresh rally. Downside Break in BTC? If bitcoin fails to clear the $55,050 and $55,500 resistance levels, it could correct lower. An immediate support on the downside is near the $54,000 level. The first key support is near the $53,500 level and the channel lower trend line. Any more losses may possibly call for a downside break towards the $51,000 and $50,000 levels. Technical indicators: Hourly MACD \u2013 The MACD is slowly gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level. Major Support Levels \u2013 $54,000, followed by $53,500. Major Resistance Levels \u2013 $55,050, $55,500 and $56,500.<\/p>\n","protected":false},"author":67,"featured_media":461913,"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-461911","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 Stuck in Range, Here\u2019s What Could Trigger More Losses<\/title>\n<meta name=\"description\" content=\"Bitcoin price is trading in a range below the $57,500 resistance 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 Stuck in Range, Here\u2019s What Could Trigger More Losses","url":"http:\/\/uniquehot.com\/news\/bitcoin-stuck-in-range-55k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-stuck-in-range-55k\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/04\/shutterstock_649342378.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/04\/shutterstock_649342378.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":"2021-04-22T02:28:20Z","datePublished":"2021-04-22T02:28:20Z","dateModified":"2024-06-11T13:55:09Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Bitcoin Stuck in Range, Here\\u2019s What Could Trigger More Losses\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-stuck-in-range-55k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-stuck-in-range-55k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_649342378.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_649342378.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\":\"2021-04-22T02:28:20Z\",\"datePublished\":\"2021-04-22T02:28:20Z\",\"dateModified\":\"2024-06-11T13:55:09Z\"}<\/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_649342378.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/461911"}],"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=461911"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/461911\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/461913"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=461911"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=461911"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=461911"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}