{"id":469510,"date":"2021-08-18T03:08:23","date_gmt":"2021-08-18T03:08:23","guid":{"rendered":"https:\/\/uniquehot.com\/?p=469510"},"modified":"2024-06-11T13:57:49","modified_gmt":"2024-06-11T13:57:49","slug":"bitcoin-could-revisit-40k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-could-revisit-40k\/","title":{"rendered":"TA: Bitcoin Breaks Key Support, Why BTC Could Revisit $40K"},"content":{"rendered":"
Bitcoin price failed to stay above the key $45,000 support zone against the US Dollar. BTC is showing a few bearish signs and it could correct lower to $40k.<\/em><\/p>\n Bitcoin price started a fresh decline<\/a> after it failed to clear the $48,000 resistance zone. BTC broke the $46,500 support zone to move into a short-term bearish zone.<\/p>\n It is consolidating above $45,500 for some time, but the bears finally took control. As a result, there was a push below the $45,000 support and the 100 hourly simple moving average<\/a>. Bitcoin even spiked below $44,500 and traded as low as $44,258.<\/p>\n It is now consolidating losses above the $44,500 level. There was a break above the 23.6% Fib retracement level of the recent decline from the $47,203 swing high to $44,258 low.<\/p>\n On the upside, an immediate resistance is near the $45,000 level. The first key resistance is near the $45,700 level (the recent breakdown zone). There is also a key bearish trend line forming with resistance near $45,800 on the hourly chart of the BTC\/USD pair.<\/p>\n <\/a><\/p>\n The trend line coincides with the 50% Fib retracement level of the recent decline from the $47,203 swing high to $44,258 low. If bitcoin clears the $45,700 and $45,800 resistance levels, it could recover towards the $47,000 level in the near term.<\/p>\n If bitcoin fails to climb above the $45,700 and $45,800 resistance levels, it could extend its decline. An initial support on the downside is near the $44,500 level.<\/p>\n The first major support is now near the $44,200 zone. The next main support is now near the $43,800 level. If the price fails to stay above the $43,800 support, it could move down towards the $40,000 support level.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is losing pace in the bearish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 40 level.<\/p>\n Major Support Levels \u2013 $44,500, followed by $43,800.<\/p>\n Major Resistance Levels \u2013 $45,700, $45,800 and $47,000.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin price failed to stay above the key $45,000 support zone against the US Dollar. BTC is showing a few bearish signs and it could correct lower to $40k. Bitcoin extended its decline below the $45,500 and $45,000 support levels. The price is now trading below $46,000 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $45,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could recover losses, but upsides might be limited above $45,500. Bitcoin Price Dips Further Bitcoin price started a fresh decline after it failed to clear the $48,000 resistance zone. BTC broke the $46,500 support zone to move into a short-term bearish zone. It is consolidating above $45,500 for some time, but the bears finally took control. As a result, there was a push below the $45,000 support and the 100 hourly simple moving average. Bitcoin even spiked below $44,500 and traded as low as $44,258. It is now consolidating losses above the $44,500 level. There was a break above the 23.6% Fib retracement level of the recent decline from the $47,203 swing high to $44,258 low. On the upside, an immediate resistance is near the $45,000 level. The first key resistance is near the $45,700 level (the recent breakdown zone). There is also a key bearish trend line forming with resistance near $45,800 on the hourly chart of the BTC\/USD pair. Source: BTCUSD on TradingView.com The trend line coincides with the 50% Fib retracement level of the recent decline from the $47,203 swing high to $44,258 low. If bitcoin clears the $45,700 and $45,800 resistance levels, it could recover towards the $47,000 level in the near term. More Losses in BTC? If bitcoin fails to climb above the $45,700 and $45,800 resistance levels, it could extend its decline. An initial support on the downside is near the $44,500 level. The first major support is now near the $44,200 zone. The next main support is now near the $43,800 level. If the price fails to stay above the $43,800 support, it could move down towards the $40,000 support level. Technical indicators: Hourly MACD \u2013 The MACD is losing pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 40 level. Major Support Levels \u2013 $44,500, followed by $43,800. Major Resistance Levels \u2013 $45,700, $45,800 and $47,000.<\/p>\n","protected":false},"author":67,"featured_media":463916,"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-469510","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 Dips Further<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
More Losses in BTC?<\/h2>\n