{"id":486085,"date":"2022-03-16T03:18:25","date_gmt":"2022-03-16T03:18:25","guid":{"rendered":"https:\/\/uniquehot.com\/?p=486085"},"modified":"2024-06-11T14:18:24","modified_gmt":"2024-06-11T14:18:24","slug":"bitcoin-breaks-40k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-breaks-40k\/","title":{"rendered":"TA: Bitcoin Breaks $40K, Key Upside Break Suggests Trend Change"},"content":{"rendered":"
Bitcoin started a major increase above the $40,000 resistance against the US Dollar. BTC might correct lower, but downsides could be limited below $40,000.<\/em><\/p>\n Bitcoin price formed a base above the $38,000 level. BTC started a steady increase<\/a> above the $39,550 resistance level and the 100 hourly simple moving average.<\/p>\n It opened the doors for a move above the $40,000 resistance<\/a>. The bulls took control and were able to push the price above the $41,000 resistance zone. The price gained over 5% and there was a move towards $41,800. A high is formed near $41,706 and the price is now correcting gains.<\/p>\n It traded below the $41,000 level. There was a test of the 23.6% Fib retracement level of the recent wave from the $38,170 swing low to $41,706 high.<\/p>\n On the downside, there are many support levels forming near $40,000. There is also a key bullish trend line forming with support near $39,250 on the hourly chart of the BTC\/USD pair. On the upside, bitcoin might face resistance near the $41,200 level.<\/p>\n <\/a><\/p>\n The next major resistance could be near the recent high or $41,800. A clear move above the $41,800 level could even push the price above the $42,000 resistance. In the stated case, the price might rise towards the $43,200 level.<\/p>\n If bitcoin fails to clear the $41,200 resistance zone, it could start a downside correction. An immediate support on the downside is near the $40,500 zone.<\/p>\n The next major support is seen near the $40,000 level. It is near the 50% Fib retracement level of the recent wave from the $38,170 swing low to $41,706 high. The main support now sits near the trend line and $39,000.<\/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 well above the 50 level.<\/p>\n Major Support Levels \u2013 $40,500, followed by $40,000.<\/p>\n Major Resistance Levels \u2013 $41,200, $41,800 and $42,000.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin started a major increase above the $40,000 resistance against the US Dollar. BTC might correct lower, but downsides could be limited below $40,000. Bitcoin was able to clear the $40,000 resistance and entered a positive zone. The price is trading above $40,500 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $39,250 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair might correct lower, but there is a key support forming near the $40,000 zone. Bitcoin Price Rallies 5% Bitcoin price formed a base above the $38,000 level. BTC started a steady increase above the $39,550 resistance level and the 100 hourly simple moving average. It opened the doors for a move above the $40,000 resistance. The bulls took control and were able to push the price above the $41,000 resistance zone. The price gained over 5% and there was a move towards $41,800. A high is formed near $41,706 and the price is now correcting gains. It traded below the $41,000 level. There was a test of the 23.6% Fib retracement level of the recent wave from the $38,170 swing low to $41,706 high. On the downside, there are many support levels forming near $40,000. There is also a key bullish trend line forming with support near $39,250 on the hourly chart of the BTC\/USD pair. On the upside, bitcoin might face resistance near the $41,200 level. Source: BTCUSD on TradingView.com The next major resistance could be near the recent high or $41,800. A clear move above the $41,800 level could even push the price above the $42,000 resistance. In the stated case, the price might rise towards the $43,200 level. Dips Limited in BTC? If bitcoin fails to clear the $41,200 resistance zone, it could start a downside correction. An immediate support on the downside is near the $40,500 zone. The next major support is seen near the $40,000 level. It is near the 50% Fib retracement level of the recent wave from the $38,170 swing low to $41,706 high. The main support now sits near the trend line and $39,000. 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 well above the 50 level. Major Support Levels \u2013 $40,500, followed by $40,000. Major Resistance Levels \u2013 $41,200, $41,800 and $42,000.<\/p>\n","protected":false},"author":67,"featured_media":462816,"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-486085","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 Rallies 5%<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Dips Limited in BTC?<\/h2>\n