{"id":467683,"date":"2021-07-19T03:08:01","date_gmt":"2021-07-19T03:08:01","guid":{"rendered":"https:\/\/uniquehot.com\/?p=467683"},"modified":"2024-06-11T13:57:09","modified_gmt":"2024-06-11T13:57:09","slug":"bitcoin-remains-at-risk-30k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-remains-at-risk-30k\/","title":{"rendered":"TA: Bitcoin Remains At Risk, Why BTC Could Nosedive Below $30K"},"content":{"rendered":"
Bitcoin price is trading in a bearish zone below $33,000 against the US Dollar. BTC could extend its decline and it could even dive below $30,000.<\/em><\/p>\n In the past few days, bitcoin price followed a bearish pattern<\/a> below the $33,000 pivot level. BTC even settled below the $32,000 support zone and the 100 hourly simple moving average.<\/p>\n The price is now holding the $31,000 support zone and it is consolidating in a range. The recent low was formed near $31,154 and the price is now correcting losses. There was a break above the $31,500 resistance zone.<\/p>\n The price was able to climb above the 23.6% Fib retracement level of the recent decline from the $32,450 swing high to $31,154 low. An immediate resistance<\/a> on the upside is near the $31,800 level and the 100 hourly SMA.<\/p>\n The 50% Fib retracement level of the recent decline from the $32,450 swing high to $31,154 low is also near the $31,800 level. Moreover, there is a key bearish trend line forming with resistance near $31,850 on the hourly chart of the BTC\/USD pair.<\/p>\n <\/a><\/p>\n A close above the trend line resistance could initiate a decent recovery above $32,000. A close above the $32,000 level may push the price towards $33,000.<\/p>\n If bitcoin fails to recover above the $31,800 and $32,000 resistance levels, there is a risk of more losses. An initial support on the downside is near the $31,200 level.<\/p>\n The first major support is now near the $31,000 zone. A close below the $31,000 level could spark a steady decline in the near term. In the stated case, the price is likely to even trade below the $30,000 support level.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is slowly losing pace in the bullish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now just below the 50 level.<\/p>\n Major Support Levels \u2013 $31,200, followed by $31,000.<\/p>\n Major Resistance Levels \u2013 $31,800, $32,000 and $33,000.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin price is trading in a bearish zone below $33,000 against the US Dollar. BTC could extend its decline and it could even dive below $30,000. Bitcoin remains in a bearish zone, but it is holding the $31,000 support zone. The price is now trading well below $32,500 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $31,850 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair must settle above $32,000 and the 100 hourly SMA to start a decent recovery in the near term. Bitcoin Price Turns Red In the past few days, bitcoin price followed a bearish pattern below the $33,000 pivot level. BTC even settled below the $32,000 support zone and the 100 hourly simple moving average. The price is now holding the $31,000 support zone and it is consolidating in a range. The recent low was formed near $31,154 and the price is now correcting losses. There was a break above the $31,500 resistance zone. The price was able to climb above the 23.6% Fib retracement level of the recent decline from the $32,450 swing high to $31,154 low. An immediate resistance on the upside is near the $31,800 level and the 100 hourly SMA. The 50% Fib retracement level of the recent decline from the $32,450 swing high to $31,154 low is also near the $31,800 level. Moreover, there is a key bearish trend line forming with resistance near $31,850 on the hourly chart of the BTC\/USD pair. Source: BTCUSD on TradingView.com A close above the trend line resistance could initiate a decent recovery above $32,000. A close above the $32,000 level may push the price towards $33,000. More Losses in BTC? If bitcoin fails to recover above the $31,800 and $32,000 resistance levels, there is a risk of more losses. An initial support on the downside is near the $31,200 level. The first major support is now near the $31,000 zone. A close below the $31,000 level could spark a steady decline in the near term. In the stated case, the price is likely to even trade below the $30,000 support level. Technical indicators: Hourly MACD \u2013 The MACD is slowly losing pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now just below the 50 level. Major Support Levels \u2013 $31,200, followed by $31,000. Major Resistance Levels \u2013 $31,800, $32,000 and $33,000.<\/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-467683","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 Turns Red<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
More Losses in BTC?<\/h2>\n