{"id":483986,"date":"2022-02-18T03:28:16","date_gmt":"2022-02-18T03:28:16","guid":{"rendered":"https:\/\/uniquehot.com\/?p=483986"},"modified":"2024-06-11T14:11:38","modified_gmt":"2024-06-11T14:11:38","slug":"bitcoin-dives-to-40k-2","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-dives-to-40k-2\/","title":{"rendered":"TA: Bitcoin Dives To $40K, What Could Trigger More Downsides"},"content":{"rendered":"
Bitcoin started a fresh decline below the $43,000 support against the US Dollar. BTC declined sharply to $40,000 and might continue to move down.<\/em><\/p>\n Bitcoin price failed to stay above the $43,180 support level and extended decline<\/a>. BTC traded below the $42,500 support level to enter a bearish zone.<\/p>\n The decline gained pace below the $42,000 level and the 100 hourly simple moving average<\/a>. Besides, there was a break below a major bullish trend line with support near $43,600 on the hourly chart of the BTC\/USD pair. The pair even broke the $40,500 support and traded as low as $40,100.<\/p>\n It is now consolidating losses below the $41,000 level. On the upside, an initial resistance is near the $41,000 level. It is near the 23.6% Fib retracement level of the recent dive from the $44,375 swing high to $40,100 low.<\/p>\n <\/a><\/p>\n The next key resistance is near the $41,620 level. The main resistance is now forming near the $42,250 level. It is close to the 50% Fib retracement level of the recent dive from the $44,375 swing high to $40,100 low. A clear move above the $42,250 resistance zone might start a decent increase. The next major resistance is near $42,750, above which the price might rise towards the $43,200 level.<\/p>\n If bitcoin fails to start a recovery wave above the $41,000 resistance zone, it could continue to move down. An immediate support on the downside is near the $40,350 zone.<\/p>\n The next major support is seen near the $40,000 level. If there is a downside break below the $40,000 support zone, the price might gain bearish momentum for a move to $38,800.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is now losing 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 $40,350, followed by $40,000.<\/p>\n Major Resistance Levels \u2013 $41,000, $41,650 and $42,250.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin started a fresh decline below the $43,000 support against the US Dollar. BTC declined sharply to $40,000 and might continue to move down. Bitcoin started a fresh decline below the $43,000 and $42,500 support levels. The price is trading below $42,000 and the 100 hourly simple moving average. There was a break below a major bullish trend line with support near $43,600 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could correct higher, but upsides might be limited above $42,000. Bitcoin Price Turns Red Bitcoin price failed to stay above the $43,180 support level and extended decline. BTC traded below the $42,500 support level to enter a bearish zone. The decline gained pace below the $42,000 level and the 100 hourly simple moving average. Besides, there was a break below a major bullish trend line with support near $43,600 on the hourly chart of the BTC\/USD pair. The pair even broke the $40,500 support and traded as low as $40,100. It is now consolidating losses below the $41,000 level. On the upside, an initial resistance is near the $41,000 level. It is near the 23.6% Fib retracement level of the recent dive from the $44,375 swing high to $40,100 low. Source: BTCUSD on TradingView.com The next key resistance is near the $41,620 level. The main resistance is now forming near the $42,250 level. It is close to the 50% Fib retracement level of the recent dive from the $44,375 swing high to $40,100 low. A clear move above the $42,250 resistance zone might start a decent increase. The next major resistance is near $42,750, above which the price might rise towards the $43,200 level. More Losses in BTC? If bitcoin fails to start a recovery wave above the $41,000 resistance zone, it could continue to move down. An immediate support on the downside is near the $40,350 zone. The next major support is seen near the $40,000 level. If there is a downside break below the $40,000 support zone, the price might gain bearish momentum for a move to $38,800. Technical indicators: Hourly MACD \u2013 The MACD is now losing 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 $40,350, followed by $40,000. Major Resistance Levels \u2013 $41,000, $41,650 and $42,250.<\/p>\n","protected":false},"author":67,"featured_media":464748,"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-483986","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 Turns Red<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
More Losses in BTC?<\/h2>\n