{"id":481340,"date":"2022-01-18T03:08:12","date_gmt":"2022-01-18T03:08:12","guid":{"rendered":"https:\/\/uniquehot.com\/?p=481340"},"modified":"2024-06-11T14:10:42","modified_gmt":"2024-06-11T14:10:42","slug":"bitcoin-case-move-below-40k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-case-move-below-40k\/","title":{"rendered":"TA: Bitcoin Key Indicators Suggest A Strengthening Case For Move Below $40K"},"content":{"rendered":"
Bitcoin failed to stay above the $43,000 support against the US Dollar. BTC is trading in a bearish zone and could continue to move down below $41,200.<\/em><\/p>\n Bitcoin price failed to accelerate higher above the $43,500 resistance zone<\/a>. As a result, there was a bearish reaction below the $43,000 pivot level.<\/p>\n The price traded below the $42,500 and $42,000 support levels. It even traded close to $41,500 and settled below the 100 hourly simple moving average<\/a>. A low was formed near $41,579 before the price started an upside correction.<\/p>\n Bitcoin price was able to recover above the $42,000 resistance zone. There was a break above the 23.6% Fib retracement level of the recent decline from the $43,800 swing high to $41,579 low.<\/p>\n On the upside, an initial resistance is near the $42,500 level. The next major resistance is near the $42,650 level. There is also a major bearish trend line forming with resistance near $42,800 on the hourly chart of the BTC\/USD pair.<\/p>\n <\/a><\/p>\n The trend line is near the 50% retracement level of the recent decline from the $43,800 swing high to $41,579 low. A clear move above the $42,800 level might send the price towards the $43,500 resistance. Any more gains may perhaps call for a test of the $44,000 resistance zone. The next major resistance is near the $45,000 level.<\/p>\n If bitcoin fails to start a fresh increase above $42,800, it could continue to move down. An immediate support on the downside is near the $42,000 zone.<\/p>\n The first major support is seen near the $41,500 zone. A downside break below the $41,500 support zone could increase the chances of more downsides. The next major support is near $40,000, below which the bears might take control.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is slowly gaining pace in the bullish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is below the 50 level.<\/p>\n Major Support Levels \u2013 $41,500, followed by $41,200.<\/p>\n Major Resistance Levels \u2013 $42,650, $42,800 and $43,500.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin failed to stay above the $43,000 support against the US Dollar. BTC is trading in a bearish zone and could continue to move down below $41,200. Bitcoin is struggling to climb above the $42,500 and $42,800 resistance levels. The price is trading below $43,000 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $42,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start a major increase if there is a clear move above the $43,000 resistance. Bitcoin Price Is Showing Bearish Signs Bitcoin price failed to accelerate higher above the $43,500 resistance zone. As a result, there was a bearish reaction below the $43,000 pivot level. The price traded below the $42,500 and $42,000 support levels. It even traded close to $41,500 and settled below the 100 hourly simple moving average. A low was formed near $41,579 before the price started an upside correction. Bitcoin price was able to recover above the $42,000 resistance zone. There was a break above the 23.6% Fib retracement level of the recent decline from the $43,800 swing high to $41,579 low. On the upside, an initial resistance is near the $42,500 level. The next major resistance is near the $42,650 level. There is also a major bearish trend line forming with resistance near $42,800 on the hourly chart of the BTC\/USD pair. Source: BTCUSD on TradingView.com The trend line is near the 50% retracement level of the recent decline from the $43,800 swing high to $41,579 low. A clear move above the $42,800 level might send the price towards the $43,500 resistance. Any more gains may perhaps call for a test of the $44,000 resistance zone. The next major resistance is near the $45,000 level. More Losses in BTC? If bitcoin fails to start a fresh increase above $42,800, it could continue to move down. An immediate support on the downside is near the $42,000 zone. The first major support is seen near the $41,500 zone. A downside break below the $41,500 support zone could increase the chances of more downsides. The next major support is near $40,000, below which the bears might take control. Technical indicators: Hourly MACD \u2013 The MACD is slowly gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is below the 50 level. Major Support Levels \u2013 $41,500, followed by $41,200. Major Resistance Levels \u2013 $42,650, $42,800 and $43,500.<\/p>\n","protected":false},"author":67,"featured_media":461535,"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-481340","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 Is Showing Bearish Signs<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
More Losses in BTC?<\/h2>\n