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{"id":482416,"date":"2022-01-31T03:48:05","date_gmt":"2022-01-31T03:48:05","guid":{"rendered":"https:\/\/uniquehot.com\/?p=482416"},"modified":"2024-06-11T11:43:09","modified_gmt":"2024-06-11T11:43:09","slug":"bitcoin-faces-hurdle-38k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-faces-hurdle-38k\/","title":{"rendered":"TA: Bitcoin Faces Hurdle, Why BTC Could Resume Downtrend"},"content":{"rendered":"

Bitcoin struggled to clear the $38,800 resistance zone against the US Dollar. BTC is moving lower and might decline below the $35,000 support level.<\/em><\/p>\n

\n
Bitcoin started an upside correction but failed to clear the $38,800 resistance zone.<\/li>\n
The price is now trading below $37,500 and the 100 hourly simple moving average.<\/li>\n
There was a break below a key bullish trend line with support near $37,650 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could continue to move down if it stays below the $38,000 resistance zone.<\/li>\n<\/ul>\n
Bitcoin Price Starts Fresh Decrease<\/h2>\n
Bitcoin price recovered above the $37,000 resistance zone. BTC even climbed above the $38,000 resistance zone<\/a> and the 100 hourly simple moving average.<\/p>\n
However, the price failed to clear the $38,800 resistance zone. A high was formed near $38,719 and the price started a fresh decline. There was a move below the $38,000 support level. The bears pushed the price below the 50% Fib retracement level of the upward move from the $35,561 swing low to $38,719 high.<\/p>\n
Besides, there was a break below a key bullish trend line with support near $37,650 on the hourly chart of the BTC\/USD pair. The pair traded below $37,200 and the 100 hourly simple moving average<\/a>.<\/p>\n
It is now testing the $36,800 support zone. The stated level is near the 61.8% Fib retracement level of the upward move from the $35,561 swing low to $38,719 high. On the upside, an initial resistance is near the $37,400 level and the 100 hourly SMA.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
The first major resistance is near the $38,000 zone. The main resistance is still near the $38,800 zone. An upside break above the $38,800 resistance could start a steady upward move. The next key resistance is near the $40,000 level, above which the bulls might gain strength.<\/p>\n
More Losses in BTC?<\/h2>\n
If bitcoin fails to start a fresh increase above $38,000, it could continue to move down. An immediate support on the downside is near the $36,000 zone.<\/p>\n
The first major support is seen near the $35,500 zone. A downside break below the $35,500 support zone may perhaps push the price towards the $34,000 support zone.<\/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 now below the 50 level.<\/p>\n
Major Support Levels \u2013 $36,500, followed by $35,500.<\/p>\n
Major Resistance Levels \u2013 $37,400, $38,000 and $38,800.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin struggled to clear the $38,800 resistance zone against the US Dollar. BTC is moving lower and might decline below the $35,000 support level. Bitcoin started an upside correction but failed to clear the $38,800 resistance zone. The price is now trading below $37,500 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $37,650 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could continue to move down if it stays below the $38,000 resistance zone. Bitcoin Price Starts Fresh Decrease Bitcoin price recovered above the $37,000 resistance zone. BTC even climbed above the $38,000 resistance zone and the 100 hourly simple moving average. However, the price failed to clear the $38,800 resistance zone. A high was formed near $38,719 and the price started a fresh decline. There was a move below the $38,000 support level. The bears pushed the price below the 50% Fib retracement level of the upward move from the $35,561 swing low to $38,719 high. Besides, there was a break below a key bullish trend line with support near $37,650 on the hourly chart of the BTC\/USD pair. The pair traded below $37,200 and the 100 hourly simple moving average. It is now testing the $36,800 support zone. The stated level is near the 61.8% Fib retracement level of the upward move from the $35,561 swing low to $38,719 high. On the upside, an initial resistance is near the $37,400 level and the 100 hourly SMA. Source: BTCUSD on TradingView.com The first major resistance is near the $38,000 zone. The main resistance is still near the $38,800 zone. An upside break above the $38,800 resistance could start a steady upward move. The next key resistance is near the $40,000 level, above which the bulls might gain strength. More Losses in BTC? If bitcoin fails to start a fresh increase above $38,000, it could continue to move down. An immediate support on the downside is near the $36,000 zone. The first major support is seen near the $35,500 zone. A downside break below the $35,500 support zone may perhaps push the price towards the $34,000 support zone. 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 now below the 50 level. Major Support Levels \u2013 $36,500, followed by $35,500. Major Resistance Levels \u2013 $37,400, $38,000 and $38,800.<\/p>\n","protected":false},"author":67,"featured_media":460842,"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-482416","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\nTA: Bitcoin Faces Hurdle, Why BTC Could Resume Downtrend<\/title>\n<meta name=\"description\" content=\"Bitcoin struggled to clear the $38,800 resistance zone 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 Faces Hurdle, Why BTC Could Resume Downtrend","url":"http:\/\/uniquehot.com\/news\/bitcoin-faces-hurdle-38k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-faces-hurdle-38k\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/04\/shutterstock_1334283245.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/04\/shutterstock_1334283245.jpg?fit=1000%2C667"},"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":"2022-01-31T03:48:05Z","datePublished":"2022-01-31T03:48:05Z","dateModified":"2024-06-11T11:43:09Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Bitcoin Faces Hurdle, Why BTC Could Resume Downtrend\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-faces-hurdle-38k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-faces-hurdle-38k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_1334283245.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_1334283245.jpg?fit=1000%2C667\"},\"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\":\"2022-01-31T03:48:05Z\",\"datePublished\":\"2022-01-31T03:48:05Z\",\"dateModified\":\"2024-06-11T11:43:09Z\"}<\/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\/04\/shutterstock_1334283245.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/482416"}],"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=482416"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/482416\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/460842"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=482416"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=482416"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=482416"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}