{"id":480459,"date":"2022-01-06T03:08:43","date_gmt":"2022-01-06T03:08:43","guid":{"rendered":"https:\/\/uniquehot.com\/?p=480459"},"modified":"2024-06-11T14:10:25","modified_gmt":"2024-06-11T14:10:25","slug":"bitcoin-plunges-below-45k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-plunges-below-45k\/","title":{"rendered":"TA: Bitcoin Plunges Below Key Support, Turn Sell On Rallies"},"content":{"rendered":"
Bitcoin declined sharply below the $45,500 support against the US Dollar. BTC could recover, but upsides might be limited above $45,000.<\/em><\/p>\n Bitcoin price failed to clear the $47,500 resistance zone<\/a> and started a major decline. BTC declined heavily below the $46,000 and $45,00 levels.<\/p>\n The bears even pushed the price below the $43,500 level. A low is formed near $42,505 and the price is now consolidating losses. It is trading near the $43,500 level. It is facing resistance near the 23.6% Fib retracement level of the key decline from the $47,066 swing high to $42,505 low.<\/p>\n Bitcoin is trading below $45,000 and the 100 hourly simple moving average<\/a>. An initial resistance is near the $44,000 level. The first major resistance on the upside is near the $44,800 level.<\/p>\n The 50% Fib retracement level of the key decline from the $47,066 swing high to $42,505 low is also near the $44,800 level. Besides, there is a crucial bearish trend line forming with resistance near $46,800 on the hourly chart of the BTC\/USD pair.<\/p>\n <\/a><\/p>\n A clear move above the $44,800 resistance zone could send the price towards the trend line. The next major resistance is near the $45,600 pivot zone. A close above $45,600 is needed for a fresh increase in the near term.<\/p>\n If bitcoin fails to recover above $44,800, it could continue to move down. An immediate support is near the $43,000 zone. The first major support is near $42,500.<\/p>\n A downside break below the $42,500 level could push the price further lower. In the stated case, the price may possibly decline towards the $41,000 level in the coming sessions. The next major support is near the $40,000 level.<\/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 well below the 50 level.<\/p>\n Major Support Levels \u2013 $43,000, followed by $42,500.<\/p>\n Major Resistance Levels \u2013 $44,000, $44,800 and $45,600.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin declined sharply below the $45,500 support against the US Dollar. BTC could recover, but upsides might be limited above $45,000. Bitcoin gained pace below the key $45,500 support zone. The price is trading below $45,000 and the 100 hourly simple moving average. There is a crucial bearish trend line forming with resistance near $46,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair might start recovery, but the bears might remain active near the $45,000 zone. Bitcoin Price Dives 5% Bitcoin price failed to clear the $47,500 resistance zone and started a major decline. BTC declined heavily below the $46,000 and $45,00 levels. The bears even pushed the price below the $43,500 level. A low is formed near $42,505 and the price is now consolidating losses. It is trading near the $43,500 level. It is facing resistance near the 23.6% Fib retracement level of the key decline from the $47,066 swing high to $42,505 low. Bitcoin is trading below $45,000 and the 100 hourly simple moving average. An initial resistance is near the $44,000 level. The first major resistance on the upside is near the $44,800 level. The 50% Fib retracement level of the key decline from the $47,066 swing high to $42,505 low is also near the $44,800 level. Besides, there is a crucial bearish trend line forming with resistance near $46,800 on the hourly chart of the BTC\/USD pair. Source: BTCUSD on TradingView.com A clear move above the $44,800 resistance zone could send the price towards the trend line. The next major resistance is near the $45,600 pivot zone. A close above $45,600 is needed for a fresh increase in the near term. More Losses In BTC? If bitcoin fails to recover above $44,800, it could continue to move down. An immediate support is near the $43,000 zone. The first major support is near $42,500. A downside break below the $42,500 level could push the price further lower. In the stated case, the price may possibly decline towards the $41,000 level in the coming sessions. The next major support is near the $40,000 level. 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 well below the 50 level. Major Support Levels \u2013 $43,000, followed by $42,500. Major Resistance Levels \u2013 $44,000, $44,800 and $45,600.<\/p>\n","protected":false},"author":67,"featured_media":459296,"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-480459","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 Dives 5%<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
More Losses In BTC?<\/h2>\n