{"id":468879,"date":"2021-08-09T03:08:36","date_gmt":"2021-08-09T03:08:36","guid":{"rendered":"https:\/\/uniquehot.com\/?p=468879"},"modified":"2024-06-11T13:57:34","modified_gmt":"2024-06-11T13:57:34","slug":"bitcoin-dips-attractive-bulls","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-dips-attractive-bulls\/","title":{"rendered":"TA: Bitcoin Corrects Gains, Why Dips Remain Attractive To Bulls"},"content":{"rendered":"<p><em>Bitcoin price started a fresh increase above the $40,000 resistance zone against the US Dollar. BTC tested the $45,000 resistance zone before it started a downside correction.<\/em><\/p>\n<ul>\n<li>Bitcoin gained traction above the $40,000 and $43,500 resistance levels.<\/li>\n<li>The price is now trading above $42,000 and the 100 hourly simple moving average.<\/li>\n<li>There was a break below a key bullish trend line with support near $44,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair is correcting gains, but the bulls are likely to remain active near $42,000.<\/li>\n<\/ul>\n<h2>Bitcoin Price Remains Supported<\/h2>\n<p>Bitcoin price started a <a href=\"https:\/\/uniquehot.com\/analysis\/btc\/bitcoin-regains-strength-40k\/\" target=\"_blank\" rel=\"noopener \">strong rally<\/a> above the $40,000 resistance, after <a href=\"https:\/\/uniquehot.com\/analysis\/eth\/ethereum-leg-higher-over-3k\/\" target=\"_blank\" rel=\"noopener \">ethereum<\/a>\u2019s surge. BTC surpassed the $41,200 resistance zone to move into a positive zone.<\/p>\n<p>There was a clear break above the $42,000 barrier and a close above the <a href=\"https:\/\/uniquehot.com\/analysis\/btc\/bitcoin-starts-recovery-40k\/\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>. Finally, there was a break above the $43,500 resistance zone. The pair tested the $45,000 resistance and a high was formed near $45,339.<\/p>\n<p>Recently, there was a downside correction below $45,000. The pair traded below the $44,000 support zone. There was also a break below a key bullish trend line with support near $44,500 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>The pair traded below the 23.6% Fib retracement level of the recent rally from the $37,365 swing low to $45,339 high. It is now consolidating near the $43,000 support zone. On the upside, an initial resistance is near the $44,000 level. The first key resistance is near the $45,000 level.<\/p>\n<p><a href=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/08\/Bitcoin-5.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-468880\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/08\/Bitcoin-5.png?resize=1834%2C831\" alt=\"Bitcoin Price\" width=\"1834\" height=\"831\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/08\/Bitcoin-5.png?w=1834 1834w, https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/08\/Bitcoin-5.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/08\/Bitcoin-5.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/08\/Bitcoin-5.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/08\/Bitcoin-5.png?w=1536 1536w, https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/08\/Bitcoin-5.png?w=750 750w, https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/08\/Bitcoin-5.png?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<pre>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/pre>\n<p>Therefore, a close above the $45,000 resistance zone might trigger another increase. The next major resistance is near the $46,500 level. Any more gains could lead the price towards the $48,000 level.<\/p>\n<h2>Dips Supported in BTC?<\/h2>\n<p>If bitcoin fails to climb above the $44,000 and $45,000 resistance levels, it could start a fresh downside correction. An initial support on the downside is near the $43,000 level.<\/p>\n<p>The first major support is now near the $42,000 zone and the 100 hourly SMA. The main support is near the $41,200 level. It is near the 50% Fib retracement level of the recent rally from the $37,365 swing low to $45,339 high.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is slowly losing pace in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $42,000, followed by $41,200.<\/p>\n<p>Major Resistance Levels \u2013 $44,000, $44,500 and $45,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price started a fresh increase above the $40,000 resistance zone against the US Dollar. BTC tested the $45,000 resistance zone before it started a downside correction. Bitcoin gained traction above the $40,000 and $43,500 resistance levels. The price is now trading above $42,000 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $44,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is correcting gains, but the bulls are likely to remain active near $42,000. Bitcoin Price Remains Supported Bitcoin price started a strong rally above the $40,000 resistance, after ethereum\u2019s surge. BTC surpassed the $41,200 resistance zone to move into a positive zone. There was a clear break above the $42,000 barrier and a close above the 100 hourly simple moving average. Finally, there was a break above the $43,500 resistance zone. The pair tested the $45,000 resistance and a high was formed near $45,339. Recently, there was a downside correction below $45,000. The pair traded below the $44,000 support zone. There was also a break below a key bullish trend line with support near $44,500 on the hourly chart of the BTC\/USD pair. The pair traded below the 23.6% Fib retracement level of the recent rally from the $37,365 swing low to $45,339 high. It is now consolidating near the $43,000 support zone. On the upside, an initial resistance is near the $44,000 level. The first key resistance is near the $45,000 level. Source: BTCUSD on TradingView.com Therefore, a close above the $45,000 resistance zone might trigger another increase. The next major resistance is near the $46,500 level. Any more gains could lead the price towards the $48,000 level. Dips Supported in BTC? If bitcoin fails to climb above the $44,000 and $45,000 resistance levels, it could start a fresh downside correction. An initial support on the downside is near the $43,000 level. The first major support is now near the $42,000 zone and the 100 hourly SMA. The main support is near the $41,200 level. It is near the 50% Fib retracement level of the recent rally from the $37,365 swing low to $45,339 high. 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 below the 50 level. Major Support Levels \u2013 $42,000, followed by $41,200. Major Resistance Levels \u2013 $44,000, $44,500 and $45,000.<\/p>\n","protected":false},"author":67,"featured_media":453105,"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-468879","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<title>TA: Bitcoin Corrects Gains, Why Dips Remain Attractive To Bulls<\/title>\n<meta name=\"description\" content=\"Bitcoin price started a fresh increase above the $40,000 resistance zone against the US Dollar. 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Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation. As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. 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 Corrects Gains, Why Dips Remain Attractive To Bulls","url":"http:\/\/uniquehot.com\/news\/bitcoin-dips-attractive-bulls\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-dips-attractive-bulls\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/12\/shutterstock_1100038610-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/12\/shutterstock_1100038610-scaled.jpg?fit=2560%2C1513"},"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":"2021-08-09T03:08:36Z","datePublished":"2021-08-09T03:08:36Z","dateModified":"2024-06-11T13:57:34Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Bitcoin Corrects Gains, Why Dips Remain Attractive To Bulls\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-dips-attractive-bulls\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-dips-attractive-bulls\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/12\\\/shutterstock_1100038610-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/12\\\/shutterstock_1100038610-scaled.jpg?fit=2560%2C1513\"},\"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\":\"2021-08-09T03:08:36Z\",\"datePublished\":\"2021-08-09T03:08:36Z\",\"dateModified\":\"2024-06-11T13:57:34Z\"}<\/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\/2020\/12\/shutterstock_1100038610-scaled.jpg?fit=2560%2C1513","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/468879","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=468879"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/468879\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/453105"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=468879"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=468879"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=468879"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}