{"id":459183,"date":"2021-03-22T03:08:43","date_gmt":"2021-03-22T03:08:43","guid":{"rendered":"https:\/\/ktsl888.com\/?p=459183"},"modified":"2024-06-11T08:56:42","modified_gmt":"2024-06-11T08:56:42","slug":"bitcoin-price-at-risk-drop-to-54-5k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-price-at-risk-drop-to-54-5k\/","title":{"rendered":"TA: Why Bitcoin Price At Risk of A Fresh Drop To $54.5K"},"content":{"rendered":"
Bitcoin price failed to gain strength above the $60,000 resistance against the US Dollar. BTC is showing a few bearish signs and it could decline towards $54,500.<\/em><\/p>\n After another failure to clear the $60,000 resistance<\/a>, bitcoin started a fresh decline. BTC broke the $58,000 support level to move into a bearish zone.<\/p>\n There was also a break below the $56,500 support level. The price is trading well below $58,000 and the 100 hourly simple moving average. It traded as low as $55,544 before it started an upside correction. There was a break above the $56,500 and $57,000 levels.<\/p>\n The price climbed above the 50% Fib retracement level of the downward move<\/a> from the $59,901 high to $55,544 low. However, the price failed to clear the $58,000 resistance and the 100 hourly simple moving average.<\/p>\n <\/a><\/p>\n There is also a key bearish trend line forming with resistance near $57,500 on the hourly chart of the BTC\/USD pair. The pair also failed to clear the 61.8% Fib retracement level of the downward move from the $59,901 high to $55,544 low.<\/p>\n If it now showing bearish signs below the $57,800 and $58,000 levels. If there are more losses, the price could break the $55,544 low. The next major support for the bulls sits near $54,500.<\/p>\n If bitcoin stays above the $55,544 low, it could start a fresh increase. An initial resistance on the upside is near the $57,800 level.<\/p>\n The main resistance is near the $58,000 level. A clear break above the $58,000 level may possibly push the price towards the key $60,000 resistance zone. Any more gains could start a pump towards the $62,000 level.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is slowly moving 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 $55,540, followed by $54,500.<\/p>\n Major Resistance Levels \u2013 $57,800, $58,000 and $60,000.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin price failed to gain strength above the $60,000 resistance against the US Dollar. BTC is showing a few bearish signs and it could decline towards $54,500. Bitcoin struggled to clear the $60,000 resistance and it declined below $58,000. The price is now trading well below $58,000 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $57,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is likely to continue lower towards $54,500 as long as it is below the $58,000 resistance. Bitcoin Price Turns Red After another failure to clear the $60,000 resistance, bitcoin started a fresh decline. BTC broke the $58,000 support level to move into a bearish zone. There was also a break below the $56,500 support level. The price is trading well below $58,000 and the 100 hourly simple moving average. It traded as low as $55,544 before it started an upside correction. There was a break above the $56,500 and $57,000 levels. The price climbed above the 50% Fib retracement level of the downward move from the $59,901 high to $55,544 low. However, the price failed to clear the $58,000 resistance and the 100 hourly simple moving average. Source: BTCUSD on TradingView.com There is also a key bearish trend line forming with resistance near $57,500 on the hourly chart of the BTC\/USD pair. The pair also failed to clear the 61.8% Fib retracement level of the downward move from the $59,901 high to $55,544 low. If it now showing bearish signs below the $57,800 and $58,000 levels. If there are more losses, the price could break the $55,544 low. The next major support for the bulls sits near $54,500. Fresh Increase in BTC? If bitcoin stays above the $55,544 low, it could start a fresh increase. An initial resistance on the upside is near the $57,800 level. The main resistance is near the $58,000 level. A clear break above the $58,000 level may possibly push the price towards the key $60,000 resistance zone. Any more gains could start a pump towards the $62,000 level. Technical indicators: Hourly MACD \u2013 The MACD is slowly moving 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 $55,540, followed by $54,500. Major Resistance Levels \u2013 $57,800, $58,000 and $60,000.<\/p>\n","protected":false},"author":67,"featured_media":459185,"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-459183","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\n
Bitcoin Price Turns Red<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Fresh Increase in BTC?<\/h2>\n