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{"id":564817,"date":"2023-12-11T03:30:12","date_gmt":"2023-12-11T03:30:12","guid":{"rendered":"https:\/\/uniquehot.com\/?p=564817"},"modified":"2024-06-11T13:56:56","modified_gmt":"2024-06-11T13:56:56","slug":"bitcoin-price-crashes-8-and-wipes-weekly-gains-dips-supported","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-crashes-8-and-wipes-weekly-gains-dips-supported\/","title":{"rendered":"Bitcoin Price Crashes 8% and Wipes Weekly Gains, Dips Supported?"},"content":{"rendered":"

Bitcoin price started a sharp decline after trading close to $45,000. BTC is down over 8% but the bulls seem to be active above $40,000.<\/em><\/p>\n

\n
Bitcoin is showing a few bearish signs from the $44,699 high.<\/li>\n
The price is trading below $43,500 and the 100 hourly Simple moving average.<\/li>\n
There was a break below a key bullish trend line with support near $43,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could find strong buying interest near the $40,000 zone.<\/li>\n<\/ul>\n
Bitcoin Price Drops Heavily<\/h2>\n
Bitcoin price remained in a bullish zone<\/a> after it broke the $40,000 resistance. BTC climbed higher steadily above the $42,000 and $43,000 levels. The price even rallied above $44,000.<\/p>\n
However, it failed to test the $45,000 resistance. A high was formed near $44,699 and the price started a sharp downside correction. There was a move below the $44,000 level. Besides, there was a break below a key bullish trend line with support near $43,500 on the hourly chart of the BTC\/USD pair.<\/p>\n
The pair declined below the 50% Fib retracement level of the upward move from the $39,398 swing low to the $44,699 high. Bitcoin is now trading below $43,500 and the 100 hourly Simple moving average<\/a>.<\/p>\n
However, the bulls are protecting the $40,000 support and the 76.4% Fib retracement level of the upward move from the $39,398 swing low to the $44,699 high. The price is attempting a recovery wave and facing resistance near the $42,400 level.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/p>\n
The first major resistance is forming near $43,2000, above which the price might gain bullish momentum and rise toward $44,000. A close above the $44,000 resistance might start a strong upward move. The next key resistance could be near $44,200, above which BTC could rise toward the $45,000 level.<\/p>\n
$40K Is The Key For BTC<\/h2>\n
If Bitcoin fails to rise above the $43,200 resistance zone, it could start another decline. Immediate support on the downside is near the $41,200 level.<\/p>\n
The next major support is near $40,500, below which the price might test the $40,000 zone. If there is a move below $40,000, there is a risk of more downsides. In the stated case, the price could drop toward the $38,500 support in the near term.<\/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 30 level.<\/p>\n
Major Support Levels \u2013 $41,200, followed by $40,000.<\/p>\n
Major Resistance Levels \u2013 $42,400, $43,200, and $44,200.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price started a sharp decline after trading close to $45,000. BTC is down over 8% but the bulls seem to be active above $40,000. Bitcoin is showing a few bearish signs from the $44,699 high. The price is trading below $43,500 and the 100 hourly Simple moving average. There was a break below a key bullish trend line with support near $43,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could find strong buying interest near the $40,000 zone. Bitcoin Price Drops Heavily Bitcoin price remained in a bullish zone after it broke the $40,000 resistance. BTC climbed higher steadily above the $42,000 and $43,000 levels. The price even rallied above $44,000. However, it failed to test the $45,000 resistance. A high was formed near $44,699 and the price started a sharp downside correction. There was a move below the $44,000 level. Besides, there was a break below a key bullish trend line with support near $43,500 on the hourly chart of the BTC\/USD pair. The pair declined below the 50% Fib retracement level of the upward move from the $39,398 swing low to the $44,699 high. Bitcoin is now trading below $43,500 and the 100 hourly Simple moving average. However, the bulls are protecting the $40,000 support and the 76.4% Fib retracement level of the upward move from the $39,398 swing low to the $44,699 high. The price is attempting a recovery wave and facing resistance near the $42,400 level. Source: BTCUSD on TradingView.com The first major resistance is forming near $43,2000, above which the price might gain bullish momentum and rise toward $44,000. A close above the $44,000 resistance might start a strong upward move. The next key resistance could be near $44,200, above which BTC could rise toward the $45,000 level. $40K Is The Key For BTC If Bitcoin fails to rise above the $43,200 resistance zone, it could start another decline. Immediate support on the downside is near the $41,200 level. The next major support is near $40,500, below which the price might test the $40,000 zone. If there is a move below $40,000, there is a risk of more downsides. In the stated case, the price could drop toward the $38,500 support in the near term. 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 30 level. Major Support Levels \u2013 $41,200, followed by $40,000. Major Resistance Levels \u2013 $42,400, $43,200, and $44,200.<\/p>\n","protected":false},"author":67,"featured_media":464763,"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-564817","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":"\nBitcoin Price Crashes 8% and Wipes Weekly Gains, Dips Supported?<\/title>\n<meta name=\"description\" content=\"Bitcoin price started a sharp decline after trading close to $45,000. 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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":"Bitcoin Price Crashes 8% and Wipes Weekly Gains, Dips Supported?","url":"http:\/\/uniquehot.com\/news\/bitcoin-price-crashes-8-and-wipes-weekly-gains-dips-supported\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-price-crashes-8-and-wipes-weekly-gains-dips-supported\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/05\/shutterstock_1610297188.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/05\/shutterstock_1610297188.jpg?fit=1000%2C556"},"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","bitcoin price","btcusd","btcusdt","xbtusd"],"dateCreated":"2023-12-11T03:30:12Z","datePublished":"2023-12-11T03:30:12Z","dateModified":"2024-06-11T13:56:56Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Crashes 8% and Wipes Weekly Gains, Dips Supported?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-crashes-8-and-wipes-weekly-gains-dips-supported\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-crashes-8-and-wipes-weekly-gains-dips-supported\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_1610297188.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_1610297188.jpg?fit=1000%2C556\"},\"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\",\"bitcoin price\",\"btcusd\",\"btcusdt\",\"xbtusd\"],\"dateCreated\":\"2023-12-11T03:30:12Z\",\"datePublished\":\"2023-12-11T03:30:12Z\",\"dateModified\":\"2024-06-11T13:56:56Z\"}<\/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\/05\/shutterstock_1610297188.jpg?fit=1000%2C556","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/564817"}],"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=564817"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/564817\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/464763"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=564817"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=564817"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=564817"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}