{"id":465929,"date":"2021-06-21T03:08:09","date_gmt":"2021-06-21T03:08:09","guid":{"rendered":"https:\/\/uniquehot.com\/?p=465929"},"modified":"2024-06-11T11:22:22","modified_gmt":"2024-06-11T11:22:22","slug":"bitcoin-btc-turns-red-35k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-btc-turns-red-35k\/","title":{"rendered":"TA: Bitcoin Turns Red, Here\u2019s Why BTC Could Resume Its Decline"},"content":{"rendered":"
Bitcoin price started a fresh decline after it failed to clear $38,000 against the US Dollar. BTC is now struggling below $36,500 and it remains at a risk of more losses.<\/em><\/p>\n Bitcoin failed to continue higher above the $38,000 resistance and started a fresh decline<\/a>. BTC broke the $36,500 and $35,500 support levels to move into a bearish zone.<\/p>\n The price even broke the $34,000 support level and settled well below the 100 hourly simple moving average<\/a>. It traded as low as $33,373 and it recently started an upside correction. Bitcoin was able to recover above the $34,000 and $35,000 resistance levels.<\/p>\n There was also a break above the 50% Fib retracement level of the recent decline from the $36,463 swing high to $33,373 low. However, the price is facing a major resistance near the $36,000 zone.<\/p>\n <\/a><\/p>\n It is still trading well below $37,000 and the 100 hourly simple moving average. The 76.4% Fib retracement level of the recent decline from the $36,463 swing high to $33,373 low is currently acting as a resistance. Besides, there is a crucial bearish trend line forming with resistance near $36,400 on the hourly chart of the BTC\/USD pair.<\/p>\n To move into a positive zone, the price must clear the trend line resistance, $36,500 and the 100 hourly SMA. The next major resistance on the upside sits at $38,000.<\/p>\n If bitcoin fails to clear the trend line resistance and $36,500, it could continue to move down. An immediate support on the downside is near the $35,000 level.<\/p>\n The next major support is near the $34,000 level. A downside break below $34,000 could push the price to $33,000. Any more losses could open the doors for a move towards the $32,000 support zone in the near term.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is slowly moving into the bearish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is struggling to stay above the 50 level.<\/p>\n Major Support Levels \u2013 $35,000, followed by $34,000.<\/p>\n Major Resistance Levels \u2013 $36,200, $36,500 and $38,000.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin price started a fresh decline after it failed to clear $38,000 against the US Dollar. BTC is now struggling below $36,500 and it remains at a risk of more losses. Bitcoin started a fresh decline from well above the $38,000 support level. The price is now trading well below $37,000 and the 100 hourly simple moving average. There is a crucial bearish trend line forming with resistance near $36,400 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is likely to continue lower if it fails to clear the $36,200 and $36,500 resistance levels. Bitcoin Price Faces Resistance Bitcoin failed to continue higher above the $38,000 resistance and started a fresh decline. BTC broke the $36,500 and $35,500 support levels to move into a bearish zone. The price even broke the $34,000 support level and settled well below the 100 hourly simple moving average. It traded as low as $33,373 and it recently started an upside correction. Bitcoin was able to recover above the $34,000 and $35,000 resistance levels. There was also a break above the 50% Fib retracement level of the recent decline from the $36,463 swing high to $33,373 low. However, the price is facing a major resistance near the $36,000 zone. Source: BTCUSD on TradingView.com It is still trading well below $37,000 and the 100 hourly simple moving average. The 76.4% Fib retracement level of the recent decline from the $36,463 swing high to $33,373 low is currently acting as a resistance. Besides, there is a crucial bearish trend line forming with resistance near $36,400 on the hourly chart of the BTC\/USD pair. To move into a positive zone, the price must clear the trend line resistance, $36,500 and the 100 hourly SMA. The next major resistance on the upside sits at $38,000. More Losses in BTC? If bitcoin fails to clear the trend line resistance and $36,500, it could continue to move down. An immediate support on the downside is near the $35,000 level. The next major support is near the $34,000 level. A downside break below $34,000 could push the price to $33,000. Any more losses could open the doors for a move towards the $32,000 support zone in the near term. Technical indicators: Hourly MACD \u2013 The MACD is slowly moving into the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is struggling to stay above the 50 level. Major Support Levels \u2013 $35,000, followed by $34,000. Major Resistance Levels \u2013 $36,200, $36,500 and $38,000.<\/p>\n","protected":false},"author":67,"featured_media":459185,"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-465929","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 Faces Resistance<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
More Losses in BTC?<\/h2>\n