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{"id":567957,"date":"2024-01-04T03:01:51","date_gmt":"2024-01-04T03:01:51","guid":{"rendered":"https:\/\/uniquehot.com\/?p=567957"},"modified":"2024-06-11T11:47:59","modified_gmt":"2024-06-11T11:47:59","slug":"bitcoin-price-takes-major-hit-40k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-takes-major-hit-40k\/","title":{"rendered":"Bitcoin Price Takes Major Hit But Uptrend Far From Over \u2013 Here\u2019s Why"},"content":{"rendered":"

Bitcoin price started a major drop below $44,000 after rumors of spot ETF rejection. BTC dived over 10%, but the bulls are still protecting the $40,000 support.<\/em><\/p>\n

\n
Bitcoin declined heavily and even spiked below the $40,000 level.<\/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 $43,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could start a fresh increase if there is a close above the $43,500 resistance zone.<\/li>\n<\/ul>\n
Bitcoin Price Dives Over 10%<\/h2>\n
Bitcoin price struggled to gain pace for a move above the $46,000 resistance level<\/a>. BTC found a strong selling interest and then rumors of spot ETF rejection hit market.<\/p>\n
It sparked bearish moves and the price tumbled below the $44,000 level. There was a break below a key bullish trend line with support near $43,200 on the hourly chart of the BTC\/USD pair. The pair declined over 10% and even spiked below the $40,000 support.<\/p>\n
A low was formed near $39,500 and the price started a recovery wave. There was a move above the $41,500 and $42,000 levels. There was a wave above the 50% Fib retracement level of the downward move from the $45,913 swing high to the $39,501 low.<\/p>\n
Bitcoin is trading below $43,500 and the 100 hourly Simple moving average<\/a>. On the upside, immediate resistance is near the $43,200 level. The first major resistance is $43,500 or the 61.8% Fib retracement level of the downward move from the $45,913 swing high to the $39,501 low.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/p>\n
A close above the $43,500 level could send the price further higher. The next major resistance sits at $44,400. Any more gains above the $44,400 level could open the doors for a move toward the $45,000 level.<\/p>\n
Fresh Decline In BTC?<\/h2>\n
If Bitcoin fails to rise above the $43,500 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $42,000 level.<\/p>\n
The next major support is near $41,300. If there is a move below $41,300, the price could gain bearish momentum. In the stated case, the price could drop toward the $40,500 support in the near term.<\/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 below the 50 level.<\/p>\n
Major Support Levels \u2013 $42,000, followed by $41,300.<\/p>\n
Major Resistance Levels \u2013 $43,200, $43,500, and $44,000.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price started a major drop below $44,000 after rumors of spot ETF rejection. BTC dived over 10%, but the bulls are still protecting the $40,000 support. Bitcoin declined heavily and even spiked below the $40,000 level. 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 $43,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start a fresh increase if there is a close above the $43,500 resistance zone. Bitcoin Price Dives Over 10% Bitcoin price struggled to gain pace for a move above the $46,000 resistance level. BTC found a strong selling interest and then rumors of spot ETF rejection hit market. It sparked bearish moves and the price tumbled below the $44,000 level. There was a break below a key bullish trend line with support near $43,200 on the hourly chart of the BTC\/USD pair. The pair declined over 10% and even spiked below the $40,000 support. A low was formed near $39,500 and the price started a recovery wave. There was a move above the $41,500 and $42,000 levels. There was a wave above the 50% Fib retracement level of the downward move from the $45,913 swing high to the $39,501 low. Bitcoin is trading below $43,500 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $43,200 level. The first major resistance is $43,500 or the 61.8% Fib retracement level of the downward move from the $45,913 swing high to the $39,501 low. Source: BTCUSD on TradingView.com A close above the $43,500 level could send the price further higher. The next major resistance sits at $44,400. Any more gains above the $44,400 level could open the doors for a move toward the $45,000 level. Fresh Decline In BTC? If Bitcoin fails to rise above the $43,500 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $42,000 level. The next major support is near $41,300. If there is a move below $41,300, the price could gain bearish momentum. In the stated case, the price could drop toward the $40,500 support in the near term. 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 below the 50 level. Major Support Levels \u2013 $42,000, followed by $41,300. Major Resistance Levels \u2013 $43,200, $43,500, and $44,000.<\/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-567957","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 Takes Major Hit But Uptrend Far From Over \u2013 Here\u2019s Why<\/title>\n<meta name=\"description\" content=\"Bitcoin price started a major drop below $44,000 after rumors of spot ETF rejection. 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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 Takes Major Hit But Uptrend Far From Over \u2013 Here\u2019s Why","url":"http:\/\/uniquehot.com\/news\/bitcoin-price-takes-major-hit-40k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-price-takes-major-hit-40k\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/05\/shutterstock_552258877.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/05\/shutterstock_552258877.jpg?fit=1000%2C667"},"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":"2024-01-04T03:01:51Z","datePublished":"2024-01-04T03:01:51Z","dateModified":"2024-06-11T11:47:59Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Takes Major Hit But Uptrend Far From Over \\u2013 Here\\u2019s Why\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-takes-major-hit-40k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-takes-major-hit-40k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_552258877.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_552258877.jpg?fit=1000%2C667\"},\"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\":\"2024-01-04T03:01:51Z\",\"datePublished\":\"2024-01-04T03:01:51Z\",\"dateModified\":\"2024-06-11T11:47:59Z\"}<\/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_552258877.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/567957"}],"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=567957"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/567957\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/463554"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=567957"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=567957"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=567957"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}