{"id":457685,"date":"2021-02-28T05:08:48","date_gmt":"2021-02-28T05:08:48","guid":{"rendered":"https:\/\/ktsl888.com\/?p=457685"},"modified":"2024-06-11T14:13:37","modified_gmt":"2024-06-11T14:13:37","slug":"bitcoin-price-could-decline-to-41k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-price-could-decline-to-41k\/","title":{"rendered":"Why Bitcoin Price Could Extend Its Decline To $41K, 100 SMA Holds The Key"},"content":{"rendered":"<p><em>Bitcoin price started a fresh decline after it failed to clear $52,000 against the US Dollar. BTC is sliding and it remains at a risk of a drop towards $41,000.<\/em><\/p>\n<ul>\n<li>Bitcoin recovered above $50,000, but it struggled to clear the $52,000 resistance.<\/li>\n<li>The price is trading well below $50,000 and the 100 simple moving average (4-hours).<\/li>\n<li>There is a key declining channel forming with resistance near $49,220 on the 4-hours chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair is likely to continue lower towards the $41,000 and $40,000 support levels in the near term.<\/li>\n<\/ul>\n<h2>Bitcoin Price is Showing Bearish Signs<\/h2>\n<p>This past week, bitcoin price <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-is-at-risk-45k\/\" target=\"_blank\" rel=\"noopener \">extended its decline<\/a> below the $47,000 support zone against the US Dollar. The BTC\/USD pair even tested the $44,000 support zone and settled well below the 100 simple moving average (4-hours).<\/p>\n<p>The last <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-consolidates-above-50k\/\" target=\"_blank\" rel=\"noopener \">rejection zone<\/a> was near the $52,000 level before the price declined below $45,000. It traded as low $44,360 before correcting higher. It recovered above the 23.6% Fib retracement level of the downward move from the $52,229 high to $44,360 low.<\/p>\n<p><a href=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/02\/Bitcoin-23.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-457686\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/02\/Bitcoin-23.png?resize=1943%2C1149\" alt=\"Bitcoin Price\" width=\"1943\" height=\"1149\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/02\/Bitcoin-23.png?w=1943 1943w, https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/02\/Bitcoin-23.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/02\/Bitcoin-23.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/02\/Bitcoin-23.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/02\/Bitcoin-23.png?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/02\/Bitcoin-23.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/02\/Bitcoin-23.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<pre>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/pre>\n<p>However, the price struggled to clear the $48,000 resistance zone. It also failed to surpass the 50% Fib retracement level of the downward move from the $52,229 high to $44,360 low.<\/p>\n<p>There is also a key declining channel forming with resistance near $49,220 on the 4-hours chart of the BTC\/USD pair. Bitcoin is currently moving lower and it is likely to test the $44,000 support zone. If there is a downside break below the $44,000 support zone, there are chances of more downsides towards the $41,000 support zone. The next major support is near the $40,000 level.<\/p>\n<h2>Upsides Capped in BTC?<\/h2>\n<p>If bitcoin starts a fresh increase, the first key resistance is near the $48,000 level. The main resistance is now forming near the channel upper trend line and $50,000.<\/p>\n<p>A clear break above the channel resistance could open the doors for decent increase above $50,000. The next key resistance is near the $52,000 level, above which the price might rise towards the $55,000 level.<\/p>\n<p>Technical indicators<\/p>\n<p>4 hours MACD \u2013 The MACD for BTC\/USD is showing negative signs in the bearish zone.<\/p>\n<p>4 hours RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now well below the 50 level.<\/p>\n<p>Major Support Level \u2013 $44,000<\/p>\n<p>Major Resistance Level \u2013 $50,000<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price started a fresh decline after it failed to clear $52,000 against the US Dollar. BTC is sliding and it remains at a risk of a drop towards $41,000. Bitcoin recovered above $50,000, but it struggled to clear the $52,000 resistance. The price is trading well below $50,000 and the 100 simple moving average (4-hours). There is a key declining channel forming with resistance near $49,220 on the 4-hours chart of the BTC\/USD pair (data feed from Kraken). The pair is likely to continue lower towards the $41,000 and $40,000 support levels in the near term. Bitcoin Price is Showing Bearish Signs This past week, bitcoin price extended its decline below the $47,000 support zone against the US Dollar. The BTC\/USD pair even tested the $44,000 support zone and settled well below the 100 simple moving average (4-hours). The last rejection zone was near the $52,000 level before the price declined below $45,000. It traded as low $44,360 before correcting higher. It recovered above the 23.6% Fib retracement level of the downward move from the $52,229 high to $44,360 low. Source: BTCUSD on TradingView.com However, the price struggled to clear the $48,000 resistance zone. It also failed to surpass the 50% Fib retracement level of the downward move from the $52,229 high to $44,360 low. There is also a key declining channel forming with resistance near $49,220 on the 4-hours chart of the BTC\/USD pair. Bitcoin is currently moving lower and it is likely to test the $44,000 support zone. If there is a downside break below the $44,000 support zone, there are chances of more downsides towards the $41,000 support zone. The next major support is near the $40,000 level. Upsides Capped in BTC? If bitcoin starts a fresh increase, the first key resistance is near the $48,000 level. The main resistance is now forming near the channel upper trend line and $50,000. A clear break above the channel resistance could open the doors for decent increase above $50,000. The next key resistance is near the $52,000 level, above which the price might rise towards the $55,000 level. Technical indicators 4 hours MACD \u2013 The MACD for BTC\/USD is showing negative signs in the bearish zone. 4 hours RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now well below the 50 level. Major Support Level \u2013 $44,000 Major Resistance Level \u2013 $50,000<\/p>\n","protected":false},"author":67,"featured_media":457687,"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":[428,1144,78790,76835],"class_list":["post-457685","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n<title>Why Bitcoin Price Could Extend Its Decline To $41K, 100 SMA Holds The Key<\/title>\n<meta name=\"description\" content=\"Bitcoin price started a fresh decline after it failed to clear $52,000 against the US Dollar. 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