{"id":465735,"date":"2021-06-17T03:08:46","date_gmt":"2021-06-17T03:08:46","guid":{"rendered":"https:\/\/ktsl888.com\/?p=465735"},"modified":"2024-06-11T11:45:27","modified_gmt":"2024-06-11T11:45:27","slug":"bitcoin-btc-dips-from-40k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-btc-dips-from-40k\/","title":{"rendered":"TA: Bitcoin Dips From $40K, Here\u2019s Why Uptrend Is Still Intact In BTC"},"content":{"rendered":"
Bitcoin price started a downside correction from well above $40,000 against the US Dollar. BTC is now trading near a major support at $38,000, where the bulls are currently active.<\/em><\/p>\n Bitcoin topped near the $41,350 before it started a downside correction. BTC consolidated above $40,000 for some time before the bulls failed to protect the mentioned support zone<\/a>.<\/p>\n The price declined below the $40,000 and $39,500 support levels. There was also a break below a key contracting triangle with support near $39,900 on the hourly chart of the BTC\/USD pair. The pair even broke the $38,500 support level and the 100 hourly simple moving average<\/a>.<\/p>\n However, the bulls are protecting the $38,000 support zone (the last breakout zone). The price is now consolidating above the $38,000 level. It is also just below $39,000 and the 100 hourly simple moving average. The 23.6% Fib retracement level of the recent decline from the $41,350 swing high to $38,154 low is also near the 100 hourly SMA.<\/p>\n <\/a><\/p>\n The first major resistance is near the $39,750 level. It is close to the 50% Fib retracement level of the recent decline from the $41,350 swing high to $38,154 low.<\/p>\n The main resistance is now forming near the $40,000 zone. A clear upside break above the $40,000 zone is likely to set the pace for a fresh rally in the near term.<\/p>\n If bitcoin fails to clear the $39,750 resistance and $40,000, it could extend its decline. An initial support on the downside is near the $38,150 level.<\/p>\n The first major support is near the $38,000 level. A downside break below the recent low and the $38,000 level could open the doors for a larger decline towards $36,500.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is slowly moving into the bullish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is rising towards the 50 level.<\/p>\n Major Support Levels \u2013 $38,150, followed by $38,000.<\/p>\n Major Resistance Levels \u2013 $39,500, $39,750 and $40,000.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin price started a downside correction from well above $40,000 against the US Dollar. BTC is now trading near a major support at $38,000, where the bulls are currently active. Bitcoin started a downside correction after it failed to stay above $40,000. The price is currently just below $39,000 and the 100 hourly simple moving average. There was a break below a key contracting triangle with support near $39,900 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is likely to start a fresh increase unless there is a close below the $38,000 support=. Bitcoin Price Revisits Key Support Bitcoin topped near the $41,350 before it started a downside correction. BTC consolidated above $40,000 for some time before the bulls failed to protect the mentioned support zone. The price declined below the $40,000 and $39,500 support levels. There was also a break below a key contracting triangle with support near $39,900 on the hourly chart of the BTC\/USD pair. The pair even broke the $38,500 support level and the 100 hourly simple moving average. However, the bulls are protecting the $38,000 support zone (the last breakout zone). The price is now consolidating above the $38,000 level. It is also just below $39,000 and the 100 hourly simple moving average. The 23.6% Fib retracement level of the recent decline from the $41,350 swing high to $38,154 low is also near the 100 hourly SMA. Source: BTCUSD on TradingView.com The first major resistance is near the $39,750 level. It is close to the 50% Fib retracement level of the recent decline from the $41,350 swing high to $38,154 low. The main resistance is now forming near the $40,000 zone. A clear upside break above the $40,000 zone is likely to set the pace for a fresh rally in the near term. More Losses in BTC? If bitcoin fails to clear the $39,750 resistance and $40,000, it could extend its decline. An initial support on the downside is near the $38,150 level. The first major support is near the $38,000 level. A downside break below the recent low and the $38,000 level could open the doors for a larger decline towards $36,500. Technical indicators: Hourly MACD \u2013 The MACD is slowly moving into the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is rising towards the 50 level. Major Support Levels \u2013 $38,150, followed by $38,000. Major Resistance Levels \u2013 $39,500, $39,750 and $40,000.<\/p>\n","protected":false},"author":67,"featured_media":461819,"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-465735","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 Revisits Key Support<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
More Losses in BTC?<\/h2>\n