{"id":480274,"date":"2022-01-04T03:08:51","date_gmt":"2022-01-04T03:08:51","guid":{"rendered":"https:\/\/uniquehot.com\/?p=480274"},"modified":"2024-06-11T07:49:50","modified_gmt":"2024-06-11T07:49:50","slug":"bitcoin-turns-lower-46k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-turns-lower-46k\/","title":{"rendered":"TA: Bitcoin Turns Lower, Why Bulls Could Struggle In Near Term"},"content":{"rendered":"<p><em>Bitcoin started a fresh decline from the $48,000 resistance against the US Dollar. BTC remains at a risk of a sharp decline below the $46,000 support zone.<\/em><\/p>\n<ul>\n<li>Bitcoin started a fresh decline after it failed to clear the $48,000 resistance level.<\/li>\n<li>The price is trading below $47,000 and the 100 hourly simple moving average.<\/li>\n<li>There is a key bearish trend line forming with resistance near $47,100 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair remains at a risk of a major decline if there is a clear move below $46,000.<\/li>\n<\/ul>\n<h2>Bitcoin Price Remains At Risk<\/h2>\n<p>Bitcoin price failed to climb above $48,000 and started <a href=\"https:\/\/uniquehot.com\/analysis\/btc\/bitcoin-consolidates-below-48k\/\" target=\"_blank\" rel=\"noopener \">another decline<\/a>. BTC traded below the $47,500 and $47,200 levels to move further into a bearish zone.<\/p>\n<p>The price even moved below the $46,500 level and the <a href=\"https:\/\/uniquehot.com\/analysis\/btc\/bitcoin-turns-sell-48k\/\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>. A low was formed near $45,707 and the price is now consolidating losses. It tested the 23.6% Fib retracement level of the recent decline from the $47,950 swing high to $45,707 low.<\/p>\n<p>Bitcoin price is now trading below $47,000 and the 100 hourly simple moving average. The first major resistance on the upside is near the $46,850 level. It is near the 50% Fib retracement level of the recent decline from the $47,950 swing high to $45,707 low.<\/p>\n<p><a href=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/01\/Bitcoin-1.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-480275\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/01\/Bitcoin-1.png?resize=1950%2C1113\" alt=\"Bitcoin Price\" width=\"1950\" height=\"1113\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/01\/Bitcoin-1.png?w=1950 1950w, https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/01\/Bitcoin-1.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/01\/Bitcoin-1.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/01\/Bitcoin-1.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/01\/Bitcoin-1.png?w=1536 1536w, https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/01\/Bitcoin-1.png?w=750 750w, https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/01\/Bitcoin-1.png?w=1140 1140w\" sizes=\"(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>Besides, there is a key bearish trend line forming with resistance near $47,100 on the hourly chart of the BTC\/USD pair. A clear move above the $47,000 resistance zone and the trend line could start a fresh increase. The next major resistance is near the $48,000 level. Any more gains could send the price towards the $48,500 level in the near term.<\/p>\n<h2>More Losses In BTC?<\/h2>\n<p>If bitcoin fails to recover above $47,000, it could continue to move down. An immediate support is near the $46,000 zone. The first major support is near $45,800.<\/p>\n<p>A downside break below the $45,800 level could push the price further lower. In the stated case, the price may possibly decline towards the $43,500 level in the coming sessions.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $46,000, followed by $45,800.<\/p>\n<p>Major Resistance Levels \u2013 $46,800, $47,000 and $47,100.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin started a fresh decline from the $48,000 resistance against the US Dollar. BTC remains at a risk of a sharp decline below the $46,000 support zone. Bitcoin started a fresh decline after it failed to clear the $48,000 resistance level. The price is trading below $47,000 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $47,100 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair remains at a risk of a major decline if there is a clear move below $46,000. Bitcoin Price Remains At Risk Bitcoin price failed to climb above $48,000 and started another decline. BTC traded below the $47,500 and $47,200 levels to move further into a bearish zone. The price even moved below the $46,500 level and the 100 hourly simple moving average. A low was formed near $45,707 and the price is now consolidating losses. It tested the 23.6% Fib retracement level of the recent decline from the $47,950 swing high to $45,707 low. Bitcoin price is now trading below $47,000 and the 100 hourly simple moving average. The first major resistance on the upside is near the $46,850 level. It is near the 50% Fib retracement level of the recent decline from the $47,950 swing high to $45,707 low. Source: BTCUSD on TradingView.com Besides, there is a key bearish trend line forming with resistance near $47,100 on the hourly chart of the BTC\/USD pair. A clear move above the $47,000 resistance zone and the trend line could start a fresh increase. The next major resistance is near the $48,000 level. Any more gains could send the price towards the $48,500 level in the near term. More Losses In BTC? If bitcoin fails to recover above $47,000, it could continue to move down. An immediate support is near the $46,000 zone. The first major support is near $45,800. A downside break below the $45,800 level could push the price further lower. In the stated case, the price may possibly decline towards the $43,500 level in the coming sessions. 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 below the 50 level. Major Support Levels \u2013 $46,000, followed by $45,800. Major Resistance Levels \u2013 $46,800, $47,000 and $47,100.<\/p>\n","protected":false},"author":67,"featured_media":464089,"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-480274","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 Turns Lower, Why Bulls Could Struggle In Near Term<\/title>\n<meta name=\"description\" content=\"Bitcoin started a fresh decline from the $48,000 resistance against the US Dollar. 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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 Turns Lower, Why Bulls Could Struggle In Near Term","url":"http:\/\/uniquehot.com\/news\/bitcoin-turns-lower-46k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-turns-lower-46k\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/05\/shutterstock_271682210.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/05\/shutterstock_271682210.jpg?fit=1000%2C651"},"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":"2022-01-04T03:08:51Z","datePublished":"2022-01-04T03:08:51Z","dateModified":"2024-06-11T07:49:50Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Bitcoin Turns Lower, Why Bulls Could Struggle In Near Term\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-turns-lower-46k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-turns-lower-46k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_271682210.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_271682210.jpg?fit=1000%2C651\"},\"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\":\"2022-01-04T03:08:51Z\",\"datePublished\":\"2022-01-04T03:08:51Z\",\"dateModified\":\"2024-06-11T07:49:50Z\"}<\/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\/2021\/05\/shutterstock_271682210.jpg?fit=1000%2C651","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/480274"}],"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=480274"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/480274\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/464089"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=480274"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=480274"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=480274"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}