{"id":467105,"date":"2021-07-08T03:08:37","date_gmt":"2021-07-08T03:08:37","guid":{"rendered":"https:\/\/uniquehot.com\/?p=467105"},"modified":"2024-06-11T13:56:55","modified_gmt":"2024-06-11T13:56:55","slug":"bitcoin-fails-again-35k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-fails-again-35k\/","title":{"rendered":"TA: Bitcoin Fails Again, Why BTC Remains At Risk of Sharp Decline"},"content":{"rendered":"
Bitcoin price failed again to clear the $35,000 resistance against the US Dollar. BTC started a fresh decline below $34,000 and it remains at a risk of more downsides.<\/em><\/p>\n Bitcoin gained pace after it broke the $34,000 resistance zone. BTC even spiked above the $35,000 resistance<\/a>, but there was no upside continuation.<\/p>\n The price formed a high near $35,000 and it started a fresh decline. There was a break below the $34,000 support level. Besides, there was a break below a major bullish trend line with support near $33,850 on the hourly chart of the BTC\/USD pair.<\/p>\n The pair is now trading below the $33,500 support and the 100 hourly simple moving average<\/a>. A low is formed near $33,134 and the price is now consolidating losses.<\/p>\n An initial resistance on the upside is near the $33,550 level. It is near the 23.6% Fib retracement level of the recent decline from the $35,000 swing high to $33,134 low. On the downside, an initial support is near the recent low at $33,134.<\/p>\n <\/a><\/p>\n The first major support is near the $33,000 zone. If bitcoin price fails to stay above the $33,000 support, there could be a sharp decline. The next major support is near the $32,200 level. If there is a downside break below the $32,200 and $32,000 support levels, the price could continue to move down.<\/p>\n If bitcoin remains stable above the $33,000 support zone, it could start a fresh increase in the near term. An immediate resistance on the upside is near the $33,550 level.<\/p>\n The first major resistance is near $34,000. It is near the 50% Fib retracement level of the recent decline from the $35,000 swing high to $33,134 low. If there is a close above the $34,000 resistance zone, the price could rise towards the $35,000 hurdle.<\/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 now in the oversold zone.<\/p>\n Major Support Levels \u2013 $33,000, followed by $32,200.<\/p>\n Major Resistance Levels \u2013 $33,550, $34,000 and $35,000.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin price failed again to clear the $35,000 resistance against the US Dollar. BTC started a fresh decline below $34,000 and it remains at a risk of more downsides. Bitcoin started a fresh decline after it failed to settle above the $35,000 resistance zone. The price is now trading below the $33,500 support and the 100 hourly simple moving average. There was a break below a major bullish trend line with support near $33,850 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could correct higher, but the bulls are likely to face resistance near $34,000. Bitcoin Price Breaks Key Support Bitcoin gained pace after it broke the $34,000 resistance zone. BTC even spiked above the $35,000 resistance, but there was no upside continuation. The price formed a high near $35,000 and it started a fresh decline. There was a break below the $34,000 support level. Besides, there was a break below a major bullish trend line with support near $33,850 on the hourly chart of the BTC\/USD pair. The pair is now trading below the $33,500 support and the 100 hourly simple moving average. A low is formed near $33,134 and the price is now consolidating losses. An initial resistance on the upside is near the $33,550 level. It is near the 23.6% Fib retracement level of the recent decline from the $35,000 swing high to $33,134 low. On the downside, an initial support is near the recent low at $33,134. Source: BTCUSD on TradingView.com The first major support is near the $33,000 zone. If bitcoin price fails to stay above the $33,000 support, there could be a sharp decline. The next major support is near the $32,200 level. If there is a downside break below the $32,200 and $32,000 support levels, the price could continue to move down. Fresh Increase in BTC? If bitcoin remains stable above the $33,000 support zone, it could start a fresh increase in the near term. An immediate resistance on the upside is near the $33,550 level. The first major resistance is near $34,000. It is near the 50% Fib retracement level of the recent decline from the $35,000 swing high to $33,134 low. If there is a close above the $34,000 resistance zone, the price could rise towards the $35,000 hurdle. 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 now in the oversold zone. Major Support Levels \u2013 $33,000, followed by $32,200. Major Resistance Levels \u2013 $33,550, $34,000 and $35,000.<\/p>\n","protected":false},"author":67,"featured_media":460842,"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-467105","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 Breaks Key Support<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Fresh Increase in BTC?<\/h2>\n