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{"id":464087,"date":"2021-05-19T03:08:02","date_gmt":"2021-05-19T03:08:02","guid":{"rendered":"https:\/\/uniquehot.com\/?p=464087"},"modified":"2024-06-11T13:55:51","modified_gmt":"2024-06-11T13:55:51","slug":"bitcoin-btc-could-dive-below-40k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-btc-could-dive-below-40k\/","title":{"rendered":"TA: Bitcoin Breaks Key Support, Here\u2019s Why BTC Could Dive Below $40K"},"content":{"rendered":"

Bitcoin price failed to stay above the key $42,150 support zone against the US Dollar. BTC is declining and it remains at a risk of a sharp decline below $40K.<\/em><\/p>\n

\n
Bitcoin failed to stay above the main $42,000 and $42,150 support levels.<\/li>\n
The price is now trading well below $45,000 and the 100 hourly simple moving average.<\/li>\n
There is a new major bearish trend line forming with resistance near $44,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair is likely to continue lower below the $40,000 support levels in the near term.<\/li>\n<\/ul>\n
Bitcoin Price Breaks Double Bottom<\/h2>\n
Bitcoin started a decent recovery from the $42,000 and $42,150 support levels<\/a>. However, the bulls failed to push the price above the $46,000 resistance zone.<\/p>\n
As a result, the price started a fresh decline below the $44,000 level. The bears were able to push the price below the main $42,000 and $42,150 support levels (double bottom zone<\/a>). It is now trading well below $45,000 and the 100 hourly simple moving average.<\/p>\n
Bitcoin tested the $40,500 support zone and it is showing a lot of bearish signs. An initial resistance is near the $41,800 zone. It is near the 23.6% Fib retracement level of the recent decline from the $45,774 high to $40,472 low.<\/p>\n
There is also a new major bearish trend line forming with resistance near $44,000 on the hourly chart of the BTC\/USD pair. An intermediate resistance is near the $43,200 zone. It is close to the 50% Fib retracement level of the recent decline from the $45,774 high to $40,472 low.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
A successful close above the $43,200 and $44,000 levels could open the doors for a decent recovery in the coming sessions. The next major resistance sits near the $46,000 level.<\/p>\n
More Losses in BTC?<\/h2>\n
If bitcoin fails to clear the $43,200 and $44,000 resistance levels, there is a risk of more losses. An initial support on the downside is near the $40,500 level.<\/p>\n
The main support is now forming near the $40,000 zone. A downside break below the recent low and $40,000 could spark another sharp decline in the near term. The next key support could be $36,500.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is well below the 30 level.<\/p>\n
Major Support Levels \u2013 $40,500, followed by $40,000.<\/p>\n
Major Resistance Levels \u2013 $42,000, $43,200 and $44,000.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price failed to stay above the key $42,150 support zone against the US Dollar. BTC is declining and it remains at a risk of a sharp decline below $40K. Bitcoin failed to stay above the main $42,000 and $42,150 support levels. The price is now trading well below $45,000 and the 100 hourly simple moving average. There is a new major bearish trend line forming with resistance near $44,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is likely to continue lower below the $40,000 support levels in the near term. Bitcoin Price Breaks Double Bottom Bitcoin started a decent recovery from the $42,000 and $42,150 support levels. However, the bulls failed to push the price above the $46,000 resistance zone. As a result, the price started a fresh decline below the $44,000 level. The bears were able to push the price below the main $42,000 and $42,150 support levels (double bottom zone). It is now trading well below $45,000 and the 100 hourly simple moving average. Bitcoin tested the $40,500 support zone and it is showing a lot of bearish signs. An initial resistance is near the $41,800 zone. It is near the 23.6% Fib retracement level of the recent decline from the $45,774 high to $40,472 low. There is also a new major bearish trend line forming with resistance near $44,000 on the hourly chart of the BTC\/USD pair. An intermediate resistance is near the $43,200 zone. It is close to the 50% Fib retracement level of the recent decline from the $45,774 high to $40,472 low. Source: BTCUSD on TradingView.com A successful close above the $43,200 and $44,000 levels could open the doors for a decent recovery in the coming sessions. The next major resistance sits near the $46,000 level. More Losses in BTC? If bitcoin fails to clear the $43,200 and $44,000 resistance levels, there is a risk of more losses. An initial support on the downside is near the $40,500 level. The main support is now forming near the $40,000 zone. A downside break below the recent low and $40,000 could spark another sharp decline in the near term. The next key support could be $36,500. Technical indicators: Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is well below the 30 level. Major Support Levels \u2013 $40,500, followed by $40,000. Major Resistance Levels \u2013 $42,000, $43,200 and $44,000.<\/p>\n","protected":false},"author":67,"featured_media":464089,"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-464087","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 Breaks Key Support, Here\u2019s Why BTC Could Dive Below $40K<\/title>\n<meta name=\"description\" content=\"Bitcoin price failed to stay above the key $42,150 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 Breaks Key Support, Here\u2019s Why BTC Could Dive Below $40K","url":"http:\/\/uniquehot.com\/news\/bitcoin-btc-could-dive-below-40k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-btc-could-dive-below-40k\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/05\/shutterstock_271682210.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/05\/shutterstock_271682210.jpg?fit=1000%2C651"},"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":"2021-05-19T03:08:02Z","datePublished":"2021-05-19T03:08:02Z","dateModified":"2024-06-11T13:55:51Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Bitcoin Breaks Key Support, Here\\u2019s Why BTC Could Dive Below $40K\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-btc-could-dive-below-40k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-btc-could-dive-below-40k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_271682210.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_271682210.jpg?fit=1000%2C651\"},\"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\":\"2021-05-19T03:08:02Z\",\"datePublished\":\"2021-05-19T03:08:02Z\",\"dateModified\":\"2024-06-11T13:55:51Z\"}<\/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\/05\/shutterstock_271682210.jpg?fit=1000%2C651","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/464087","targetHints":{"allow":["GET"]}}],"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=464087"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/464087\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/464089"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=464087"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=464087"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=464087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}