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{"id":483593,"date":"2022-02-14T03:28:54","date_gmt":"2022-02-14T03:28:54","guid":{"rendered":"https:\/\/uniquehot.com\/?p=483593"},"modified":"2024-06-11T14:11:28","modified_gmt":"2024-06-11T14:11:28","slug":"bitcoin-breaks-key-support-40k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-breaks-key-support-40k\/","title":{"rendered":"TA: Bitcoin Breaks Key Support, Why BTC Could Dive Below $40K"},"content":{"rendered":"

Bitcoin started a fresh decline from well above the $44,000 level against the US Dollar. BTC broke the $42,500 support and remains at a risk of more downsides.<\/em><\/p>\n

\n
Bitcoin traded below an important support zone at $42,500.<\/li>\n
The price is trading below $42,500 and the 100 hourly simple moving average.<\/li>\n
There is a key bearish trend line forming with resistance near $42,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could decline further if it fails to recover above the $42,800 zone.<\/li>\n<\/ul>\n
Bitcoin Price Extends Decline<\/h2>\n
Bitcoin price failed to clear the $45,500 resistance and started a major decline<\/a>. BTC traded below the $43,200 and USD 42,500 support levels to move into a short-term bearish zone.<\/p>\n
There was also a close below the $42,50 level and the 100 hourly simple moving average. A low was formed near $41,573 and the price is now consolidating losses. An immediate resistance is near the $42,000 level. The first major resistance is near the $42,200 level.<\/p>\n
Besides, there is also a key bearish trend line forming with resistance near $42,200 on the hourly chart of the BTC\/USD pair. The next key resistance could be $42,500 or the 23.6% Fib retracement level of the recent decline from the $45,900 high to $41,573 low.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
The main resistance seems to be forming near the $42,850 level or the 100 hourly simple moving average. A clear move above the 100 hourly simple moving average<\/a> might send the price to $43,750. It is near the 50% Fib retracement level of the recent decline from the $45,900 high to $41,573 low.<\/p>\n
More Losses in BTC?<\/h2>\n
If bitcoin fails to start a fresh increase above $42,850, it could continue to move down. An immediate support on the downside is near the $41,600 zone.<\/p>\n
The next major support is seen near the $41,200 level. If there is a downside break below the $41,200 support, the price could start a major decline towards 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 now below the 50 level.<\/p>\n
Major Support Levels \u2013 $41,600, followed by $41,200.<\/p>\n
Major Resistance Levels \u2013 $42,200, $42,850 and $43,000.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin started a fresh decline from well above the $44,000 level against the US Dollar. BTC broke the $42,500 support and remains at a risk of more downsides. Bitcoin traded below an important support zone at $42,500. The price is trading below $42,500 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $42,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could decline further if it fails to recover above the $42,800 zone. Bitcoin Price Extends Decline Bitcoin price failed to clear the $45,500 resistance and started a major decline. BTC traded below the $43,200 and USD 42,500 support levels to move into a short-term bearish zone. There was also a close below the $42,50 level and the 100 hourly simple moving average. A low was formed near $41,573 and the price is now consolidating losses. An immediate resistance is near the $42,000 level. The first major resistance is near the $42,200 level. Besides, there is also a key bearish trend line forming with resistance near $42,200 on the hourly chart of the BTC\/USD pair. The next key resistance could be $42,500 or the 23.6% Fib retracement level of the recent decline from the $45,900 high to $41,573 low. Source: BTCUSD on TradingView.com The main resistance seems to be forming near the $42,850 level or the 100 hourly simple moving average. A clear move above the 100 hourly simple moving average might send the price to $43,750. It is near the 50% Fib retracement level of the recent decline from the $45,900 high to $41,573 low. More Losses in BTC? If bitcoin fails to start a fresh increase above $42,850, it could continue to move down. An immediate support on the downside is near the $41,600 zone. The next major support is seen near the $41,200 level. If there is a downside break below the $41,200 support, the price could start a major decline towards 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 now below the 50 level. Major Support Levels \u2013 $41,600, followed by $41,200. Major Resistance Levels \u2013 $42,200, $42,850 and $43,000.<\/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-483593","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 Breaks Key Support, Why BTC Could Dive Below $40K<\/title>\n<meta name=\"description\" content=\"Bitcoin started a fresh decline from well above the $44,000 level 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 Breaks Key Support, Why BTC Could Dive Below $40K","url":"http:\/\/uniquehot.com\/news\/bitcoin-breaks-key-support-40k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-breaks-key-support-40k\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/03\/shutterstock_1324745120.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/03\/shutterstock_1324745120.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":"2022-02-14T03:28:54Z","datePublished":"2022-02-14T03:28:54Z","dateModified":"2024-06-11T14:11:28Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Bitcoin Breaks Key Support, Why BTC Could Dive Below $40K\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-breaks-key-support-40k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-breaks-key-support-40k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_1324745120.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_1324745120.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\":\"2022-02-14T03:28:54Z\",\"datePublished\":\"2022-02-14T03:28:54Z\",\"dateModified\":\"2024-06-11T14:11:28Z\"}<\/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\/03\/shutterstock_1324745120.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/483593"}],"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=483593"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/483593\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/459296"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=483593"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=483593"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=483593"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}