BTCUSD on TradingView.com<\/a><\/p>\nA clear move above the $43,250 resistance could send the price toward the $44,000 resistance. The next resistance is now forming near the $45,200 level. It is near the 50% Fib retracement level of the downward move from the $49,000 swing high to the $41,476 low. A close above the $45,300 level could start a strong increase and send the price higher. The next major resistance sits at $47,000.<\/p>\n
More Losses In BTC?<\/h2>\n If Bitcoin fails to rise above the $43,250 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $42,120 level.<\/p>\n
The next major support is $41,500. If there is a move below $41,500, the price could gain bearish momentum. In the stated case, the price could drop toward the $40,000 support in the near term.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now losing 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 $42,120, followed by $41,500.<\/p>\n
Major Resistance Levels \u2013 $42,800, $43,250, and $44,000.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price topped near the $49,000 resistance zone. BTC started a major decline and broke many key supports at $45,000 to enter a short-term bearish zone. Bitcoin peaked near the $49,000 level and started a steady decline. The price is trading below $43,500 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with resistance near $42,850 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start a fresh decline if there is a move below the $41,500 support zone. Bitcoin Price Takes Major Hit Bitcoin price failed to test the $50,000 resistance zone. BTC peaked near the $49,000 level and started a major decline. There was a strong decline below the $48,000 and $46,500 support levels. The bears even pushed the price below the $45,000 support zone. It declined over 12% and tested the $41,500 support zone. A low was formed near $41,476 and the price started a recovery wave. There was a minor increase above the $42,000 resistance zone. However, Bitcoin is still trading below $43,500 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $42,800 level. There is also a connecting bearish trend line forming with resistance near $42,850 on the hourly chart of the BTC\/USD pair. The first major resistance is $43,250 or the 23.6% Fib retracement level of the downward move from the $49,000 swing high to the $41,476 low. Source: BTCUSD on TradingView.com A clear move above the $43,250 resistance could send the price toward the $44,000 resistance. The next resistance is now forming near the $45,200 level. It is near the 50% Fib retracement level of the downward move from the $49,000 swing high to the $41,476 low. A close above the $45,300 level could start a strong increase and send the price higher. The next major resistance sits at $47,000. More Losses In BTC? If Bitcoin fails to rise above the $43,250 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $42,120 level. The next major support is $41,500. If there is a move below $41,500, the price could gain bearish momentum. In the stated case, the price could drop toward the $40,000 support in the near term. Technical indicators: Hourly MACD \u2013 The MACD is now losing 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 $42,120, followed by $41,500. Major Resistance Levels \u2013 $42,800, $43,250, and $44,000.<\/p>\n","protected":false},"author":67,"featured_media":477080,"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-569528","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 At Risk Of More Losses \u2013 Why BTC Could Revisit $40K<\/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