BTCUSD on TradingView.com<\/a><\/p>\nA close above the $44,400 level could send the price further higher. The next major resistance sits at $45,500. Any more gains above the $45,500 level could open the doors for a move toward the $46,000 level.<\/p>\n
Fresh Decline In BTC?<\/h2>\n If Bitcoin fails to rise above the $44,400 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $42,800 level.<\/p>\n
The next major support is near $42,150 or the 50% Fib retracement level of the upward move from the $39,501 swing low to the $44,784 high. If there is a move below $41,150, 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 $42,800, followed by $42,150.<\/p>\n
Major Resistance Levels \u2013 $43,800, $44,000, and $44,400.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price recovered further above $43,500 but struggled near $44,500. BTC is correcting gains and might test the $42,150 support zone. Bitcoin recovered above the $43,500 resistance and remained in a positive zone. The price is trading below $44,000 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance near $44,400 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could decline toward the $42,150 and $42,000 support levels. Bitcoin Price Holds Support Bitcoin price started a recovery wave above the $43,200 resistance zone. BTC even broke the $43,500 resistance zone to move further into a positive zone. There was a decent upward move, but the bears were active near the $44,500 resistance zone. It faced rejection near the 76.4% Fib retracement level of the downward move from the $45,913 swing high to the $39,500 low. A high was formed near $44,784 and the price is now correcting gains. There was a move below the $44,000 level. The price traded below the 23.6% Fib retracement level of the upward move from the $39,501 swing low to the $44,784 high. Bitcoin is now trading below $44,000 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $44,000 level. The first major resistance is $44,400. There is also a key bearish trend line forming with resistance near $44,400 on the hourly chart of the BTC\/USD pair. Source: BTCUSD on TradingView.com A close above the $44,400 level could send the price further higher. The next major resistance sits at $45,500. Any more gains above the $45,500 level could open the doors for a move toward the $46,000 level. Fresh Decline In BTC? If Bitcoin fails to rise above the $44,400 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $42,800 level. The next major support is near $42,150 or the 50% Fib retracement level of the upward move from the $39,501 swing low to the $44,784 high. If there is a move below $41,150, 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 $42,800, followed by $42,150. Major Resistance Levels \u2013 $43,800, $44,000, and $44,400.<\/p>\n","protected":false},"author":67,"featured_media":462312,"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-568184","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 Faces Rejection, Here\u2019s Why Dips Could Be Attractive<\/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