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{"id":464761,"date":"2021-05-31T03:08:45","date_gmt":"2021-05-31T03:08:45","guid":{"rendered":"https:\/\/uniquehot.com\/?p=464761"},"modified":"2024-06-11T13:56:04","modified_gmt":"2024-06-11T13:56:04","slug":"bitcoin-bears-are-back-30k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-bears-are-back-30k\/","title":{"rendered":"TA: Bitcoin Bears Are Back, Here\u2019s Why BTC Could Test $30K"},"content":{"rendered":"

Bitcoin price failed to clear the $37,000 resistance against the US Dollar. BTC is declining and it remains at a risk of more losses below $34,000.<\/em><\/p>\n

\n
Bitcoin is facing a lot of hurdles near the $36,000 and $37,000 resistance levels.<\/li>\n
The price is currently trading well below $37,000 and the 100 hourly simple moving average.<\/li>\n
There is a key bearish trend line forming with resistance near $36,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could decline heavily if it settles below the $34,000 support and $33,200.<\/li>\n<\/ul>\n
Bitcoin Price Turns Red<\/h2>\n
Bitcoin made a couple of attempts to clear the $37,000 resistance zone, but it failed. The last swing low was formed near $33,650 before BTC corrected higher.<\/p>\n
It broke the $34,000 and $35,000 resistance levels. There was also a break above the 23.6% Fib retracement level of the downward move from the $40,417 high to $33,650 low. The price is now struggling to clear the $36,000 resistance level.<\/p>\n
Bitcoin is also trading well below $37,000 and the 100 hourly simple moving average<\/a>. Moreover, there is a key bearish trend line forming with resistance near $36,000 on the hourly chart of the BTC\/USD pair.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
On the upside, an immediate resistance is near the $35,500 level. The first major resistance is near the $36,000 level and the trend line. The next major resistance is near the $37,000 level. It is close to the 50% Fib retracement level of the downward move from the $40,417 high to $33,650 low.<\/p>\n
A close above the $37,000 resistance zone could open the doors for a steady increase. The next major barrier for the bulls is near $40,000 level.<\/p>\n
More Losses in BTC?<\/h2>\n
If bitcoin fails to clear the $36,000 resistance, there is a risk of a downside break<\/a>. An initial support on the downside is near the $34,500 level.<\/p>\n
The first major support is near the $34,000 level. If there is a downside break below the $34,000 support, the price could decline towards the $32,000 support zone in the coming sessions. Any more losses could clear the path for a test of the $30,000 level.<\/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 $34,000, followed by $32,000.<\/p>\n
Major Resistance Levels \u2013 $35,500, $36,000 and $37,000.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price failed to clear the $37,000 resistance against the US Dollar. BTC is declining and it remains at a risk of more losses below $34,000. Bitcoin is facing a lot of hurdles near the $36,000 and $37,000 resistance levels. The price is currently trading well below $37,000 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $36,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could decline heavily if it settles below the $34,000 support and $33,200. Bitcoin Price Turns Red Bitcoin made a couple of attempts to clear the $37,000 resistance zone, but it failed. The last swing low was formed near $33,650 before BTC corrected higher. It broke the $34,000 and $35,000 resistance levels. There was also a break above the 23.6% Fib retracement level of the downward move from the $40,417 high to $33,650 low. The price is now struggling to clear the $36,000 resistance level. Bitcoin is also trading well below $37,000 and the 100 hourly simple moving average. Moreover, there is a key bearish trend line forming with resistance near $36,000 on the hourly chart of the BTC\/USD pair. Source: BTCUSD on TradingView.com On the upside, an immediate resistance is near the $35,500 level. The first major resistance is near the $36,000 level and the trend line. The next major resistance is near the $37,000 level. It is close to the 50% Fib retracement level of the downward move from the $40,417 high to $33,650 low. A close above the $37,000 resistance zone could open the doors for a steady increase. The next major barrier for the bulls is near $40,000 level. More Losses in BTC? If bitcoin fails to clear the $36,000 resistance, there is a risk of a downside break. An initial support on the downside is near the $34,500 level. The first major support is near the $34,000 level. If there is a downside break below the $34,000 support, the price could decline towards the $32,000 support zone in the coming sessions. Any more losses could clear the path for a test of the $30,000 level. 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 $34,000, followed by $32,000. Major Resistance Levels \u2013 $35,500, $36,000 and $37,000.<\/p>\n","protected":false},"author":67,"featured_media":464763,"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-464761","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 Bears Are Back, Here\u2019s Why BTC Could Test $30K<\/title>\n<meta name=\"description\" content=\"Bitcoin price failed to clear the $37,000 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 Bears Are Back, Here\u2019s Why BTC Could Test $30K","url":"http:\/\/uniquehot.com\/news\/bitcoin-bears-are-back-30k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-bears-are-back-30k\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/05\/shutterstock_1610297188.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/05\/shutterstock_1610297188.jpg?fit=1000%2C556"},"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":"2021-05-31T03:08:45Z","datePublished":"2021-05-31T03:08:45Z","dateModified":"2024-06-11T13:56:04Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Bitcoin Bears Are Back, Here\\u2019s Why BTC Could Test $30K\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-bears-are-back-30k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-bears-are-back-30k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_1610297188.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_1610297188.jpg?fit=1000%2C556\"},\"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\":\"2021-05-31T03:08:45Z\",\"datePublished\":\"2021-05-31T03:08:45Z\",\"dateModified\":\"2024-06-11T13:56:04Z\"}<\/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_1610297188.jpg?fit=1000%2C556","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/464761"}],"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=464761"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/464761\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/464763"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=464761"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=464761"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=464761"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}