BTCUSD on TradingView.com<\/a><\/p>\nThe next key resistance could be near $38,500, above which BTC could rise toward the $39,200 level. In the stated case, it could even move toward the $40,000 resistance.<\/p>\n
More Losses In BTC?<\/h2>\n If Bitcoin fails to rise above the $37,570 resistance zone, it could continue to move down. Immediate support on the downside is near the $36,720 level.<\/p>\n
The next major support is $36,500. If there is a move below $36,500, there is a risk of more downsides. In the stated case, the price could drop toward the $35,650 support in the near term. The next key support or target could be $35,000.<\/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 $36,720, followed by $36,000.<\/p>\n
Major Resistance Levels \u2013 $37,400, $37,570, and $38,000.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price is moving lower below the $37,000 level. BTC could continue to move down toward the $36,000 level or even $35,000 zone in the coming sessions. Bitcoin is showing bearish signs and moving lower from the $37,750 resistance. The price is trading below $37,400 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance near $37,380 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could continue to move down if it breaks the $36,750 support. Bitcoin Price Extends Decline Bitcoin price started a downside correction after it spiked toward the $38,500 zone. BTC followed a bearish path and settled below the $37,200 level (as discussed in yesterday’s post). There was a drop below the $37,000 level. A low was formed near $36,720 and the price is now consolidating losses. It climbed a bit above the 23.6% Fib retracement level of the recent drop from the $38,432 swing high to the $36,720 low. Bitcoin is now trading below $37,400 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $37,400 level. There is also a key bearish trend line forming with resistance near $37,380 on the hourly chart of the BTC\/USD pair. The first major resistance is forming near $37,570 or the 100 hourly Simple moving average. It is close to the 50% Fib retracement level of the recent drop from the $38,432 swing high to the $36,720 low. The main resistance is now near the $38,000 level. A close above the $38,000 resistance might start a strong increase, potentially influencing both the trading and crypto casino markets where similar volatility can affect gaming strategies. Source: BTCUSD on TradingView.com The next key resistance could be near $38,500, above which BTC could rise toward the $39,200 level. In the stated case, it could even move toward the $40,000 resistance. More Losses In BTC? If Bitcoin fails to rise above the $37,570 resistance zone, it could continue to move down. Immediate support on the downside is near the $36,720 level. The next major support is $36,500. If there is a move below $36,500, there is a risk of more downsides. In the stated case, the price could drop toward the $35,650 support in the near term. The next key support or target could be $35,000. 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 $36,720, followed by $36,000. Major Resistance Levels \u2013 $37,400, $37,570, and $38,000.<\/p>\n","protected":false},"author":67,"featured_media":463554,"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":[428,679,1144,78790,76835],"class_list":["post-562757","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n
Bitcoin Price Grinds Lower As Risk of Drop To $35K Escalates<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n