{"id":481067,"date":"2022-01-14T03:18:03","date_gmt":"2022-01-14T03:18:03","guid":{"rendered":"https:\/\/uniquehot.com\/?p=481067"},"modified":"2024-06-11T14:10:36","modified_gmt":"2024-06-11T14:10:36","slug":"bitcoin-price-corrective-decrease-42k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-corrective-decrease-42k\/","title":{"rendered":"TA: Bitcoin Price Starts Corrective Decrease, Can Bulls Protect Losses"},"content":{"rendered":"
Bitcoin extended increase above the $44,000 level against the US Dollar. BTC is correcting losses, but it might find support near the $42,000 support zone.<\/em><\/p>\n Bitcoin price extended increase above the $43,200 resistance zone<\/a>. BTC even spiked above the $44,000 level on two occasions before the bears took a stand.<\/p>\n A high was formed near $44,420 and the price is now correcting lower. There was a move below the 23.6% Fib retracement level of the key increase from the $39,660 swing low to $44,420 high. Besides, there was a break below a key bullish trend line with support near $43,250 on the hourly chart of the BTC\/USD pair.<\/p>\n Bitcoin price is now trading near $42,750 and the 100 hourly simple moving average<\/a>. On the upside, an initial resistance is near the $43,000 level.<\/p>\n <\/a><\/p>\n The next major resistance is near the $43,200 level. A clear move above the $43,200 level might send the price towards the $44,000 resistance. Any more gains may perhaps call for a test of the $44,400 resistance zone. The next major resistance is near the $45,500 level, where the bears might appear.<\/p>\n If bitcoin fails to start a fresh increase above $43,200, it could continue to move down. An immediate support on the downside is near the $42,500 zone. The first major support is seen near the $42,000 zone.<\/p>\n The 50% Fib retracement level of the key increase from the $39,660 swing low to $44,420 high is also near the $42,000 level. A downside break below the $42,000 support zone could lead the price towards the $41,500 level. Any more losses might push the price towards the $40,500 support zone in the coming sessions.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is slowly losing pace in the bearish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level.<\/p>\n Major Support Levels \u2013 $42,500, followed by $42,000.<\/p>\n Major Resistance Levels \u2013 $43,200, $44,000 and $44,400.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin extended increase above the $44,000 level against the US Dollar. BTC is correcting losses, but it might find support near the $42,000 support zone. Bitcoin climbed further higher above $44,000 before it faced sellers. The price is trading near $42,750 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $43,250 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is correcting gains, but dips could be limited below the $42,000 level. Bitcoin Price Corrects Gains Bitcoin price extended increase above the $43,200 resistance zone. BTC even spiked above the $44,000 level on two occasions before the bears took a stand. A high was formed near $44,420 and the price is now correcting lower. There was a move below the 23.6% Fib retracement level of the key increase from the $39,660 swing low to $44,420 high. Besides, there was a break below a key bullish trend line with support near $43,250 on the hourly chart of the BTC\/USD pair. Bitcoin price is now trading near $42,750 and the 100 hourly simple moving average. On the upside, an initial resistance is near the $43,000 level. Source: BTCUSD on TradingView.com The next major resistance is near the $43,200 level. A clear move above the $43,200 level might send the price towards the $44,000 resistance. Any more gains may perhaps call for a test of the $44,400 resistance zone. The next major resistance is near the $45,500 level, where the bears might appear. More Losses in BTC? If bitcoin fails to start a fresh increase above $43,200, it could continue to move down. An immediate support on the downside is near the $42,500 zone. The first major support is seen near the $42,000 zone. The 50% Fib retracement level of the key increase from the $39,660 swing low to $44,420 high is also near the $42,000 level. A downside break below the $42,000 support zone could lead the price towards the $41,500 level. Any more losses might push the price towards the $40,500 support zone in the coming sessions. Technical indicators: Hourly MACD \u2013 The MACD is slowly losing pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level. Major Support Levels \u2013 $42,500, followed by $42,000. Major Resistance Levels \u2013 $43,200, $44,000 and $44,400.<\/p>\n","protected":false},"author":67,"featured_media":461328,"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-481067","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 Corrects Gains<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
More Losses in BTC?<\/h2>\n