{"id":485972,"date":"2022-03-15T03:08:56","date_gmt":"2022-03-15T03:08:56","guid":{"rendered":"https:\/\/uniquehot.com\/?p=485972"},"modified":"2024-06-11T14:18:21","modified_gmt":"2024-06-11T14:18:21","slug":"bitcoin-upsides-remain-capped","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-upsides-remain-capped\/","title":{"rendered":"TA: Bitcoin Attempts Fresh Increase, Why Upsides Remain Capped"},"content":{"rendered":"
Bitcoin attempted a fresh increase above $39,500 against the US Dollar. BTC is still facing a strong resistance near $39,800 and $40,000.<\/em><\/p>\n Bitcoin price started a recovery wave above the $38,200 resistance level<\/a>. BTC even spiked above the $38,500 resistance level, but it faced a strong resistance.<\/p>\n During the recovery, there was a break above a key bearish trend line with resistance near $38,750 on the hourly chart of the BTC\/USD pair. The pair climbed above the $39,800 level and the 100 hourly simple moving average<\/a>. However, it faced a strong resistance just below the $40,000 level.<\/p>\n A high was formed near $39,899 and the price corrected gains. There was a move below the $39,500 level. Bitcoin declined below the 23.6% Fib retracement level of the upward move from the $37,593 swing low to $39,899 high.<\/p>\n It is now trading near $39,000 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $39,550 zone. The next major resistance could be near the recent high or $39,900. The main breakout resistance is still near the $40,000 zone.<\/p>\n <\/a><\/p>\n A close above the $40,000 resistance zone could open the doors for a steady increase. In the stated case, the price could rise towards the $42,000 resistance zone.<\/p>\n If bitcoin fails to clear the $39,550 resistance zone, it could continue to move down. An immediate support on the downside is near the $39,000 zone.<\/p>\n The next major support is seen near the $38,750 level. It is near the 50% Fib retracement level of the upward move from the $37,593 swing low to $39,899 high. The main support sits near the $38,500 level, below which there is a risk of a sharp decline.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is now losing pace in the bullish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n Major Support Levels \u2013 $38,750, followed by $38,500.<\/p>\n Major Resistance Levels \u2013 $39,550, $39,900 and $40,000.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin attempted a fresh increase above $39,500 against the US Dollar. BTC is still facing a strong resistance near $39,800 and $40,000. Bitcoin spiked above $39,500, but it failed to clear the $40,000 resistance zone. The price is trading near $39,000 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $38,750 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair must clear the $39,800 and $40,000 resistance levels to start a fresh increase. Bitcoin Price Faces Hurdle Bitcoin price started a recovery wave above the $38,200 resistance level. BTC even spiked above the $38,500 resistance level, but it faced a strong resistance. During the recovery, there was a break above a key bearish trend line with resistance near $38,750 on the hourly chart of the BTC\/USD pair. The pair climbed above the $39,800 level and the 100 hourly simple moving average. However, it faced a strong resistance just below the $40,000 level. A high was formed near $39,899 and the price corrected gains. There was a move below the $39,500 level. Bitcoin declined below the 23.6% Fib retracement level of the upward move from the $37,593 swing low to $39,899 high. It is now trading near $39,000 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $39,550 zone. The next major resistance could be near the recent high or $39,900. The main breakout resistance is still near the $40,000 zone. Source: BTCUSD on TradingView.com A close above the $40,000 resistance zone could open the doors for a steady increase. In the stated case, the price could rise towards the $42,000 resistance zone. Fresh Decline in BTC? If bitcoin fails to clear the $39,550 resistance zone, it could continue to move down. An immediate support on the downside is near the $39,000 zone. The next major support is seen near the $38,750 level. It is near the 50% Fib retracement level of the upward move from the $37,593 swing low to $39,899 high. The main support sits near the $38,500 level, below which there is a risk of a sharp decline. Technical indicators: Hourly MACD \u2013 The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level. Major Support Levels \u2013 $38,750, followed by $38,500. Major Resistance Levels \u2013 $39,550, $39,900 and $40,000.<\/p>\n","protected":false},"author":67,"featured_media":457522,"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-485972","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 Faces Hurdle<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Fresh Decline in BTC?<\/h2>\n