{"id":467354,"date":"2021-07-13T03:08:57","date_gmt":"2021-07-13T03:08:57","guid":{"rendered":"https:\/\/ktsl888.com\/?p=467354"},"modified":"2024-06-11T13:56:59","modified_gmt":"2024-06-11T13:56:59","slug":"bitcoin-tops-and-fails-again-35k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-tops-and-fails-again-35k\/","title":{"rendered":"TA: Bitcoin Tops and Fails Again, What Could Trigger Larger Decline"},"content":{"rendered":"
Bitcoin price failed to clear the $35,000 resistance and started a fresh decline against the US Dollar. BTC remains at a risk of a larger decline as long as it is below $34,000.<\/em><\/p>\n Yesterday, we saw a decent increase<\/a> in bitcoin above the $33,500 and $34,000 resistance levels. BTC even climbed above the $34,500 level, but it failed to extend gains.<\/p>\n A high was formed near $34,676 before the price started a fresh decline. It broke the $34,000 support level and settled below the 100 hourly simple moving average<\/a>. There was also a break below a key bullish trend line with support near $33,900 on the hourly chart of the BTC\/USD pair.<\/p>\n The pair spiked below the $33,000 level and traded as low as $32,675. Bitcoin is now correcting losses and trading above $33,000. It is testing the 23.6% Fib retracement level of the recent decline from the $34,676 high to $32,675 low.<\/p>\n The first major resistance is near the $33,500 level and the 100 hourly SMA. The 50% Fib retracement level of the recent decline from the $34,676 high to $32,675 low is also near the $33,600 level.<\/p>\n <\/a><\/p>\n The main resistance is now near the $34,000 level. A close above the $34,000 level is needed to avoid more downsides in the near term.<\/p>\n If bitcoin fails to recover above the $33,500 and $34,000 resistance levels, there is a risk of a larger decline. An initial support on the downside is near the $32,650 level.<\/p>\n The first major support is near the $32,500 level. The main support is still near the $32,200 level, below which the price might easily dive towards the $30,000 level.<\/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 now well below the 50 level.<\/p>\n Major Support Levels \u2013 $32,500, followed by $32,200.<\/p>\n Major Resistance Levels \u2013 $33,500, $33,650 and $34,000.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin price failed to clear the $35,000 resistance and started a fresh decline against the US Dollar. BTC remains at a risk of a larger decline as long as it is below $34,000. Bitcoin failed to extend gains above $34,650 and it started a fresh decline below $34,000. The price is now trading below the $33,500 support and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $33,900 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could correct losses, but it might face sellers near $34,000 and the 100 hourly SMA. Bitcoin Price Dives Again Yesterday, we saw a decent increase in bitcoin above the $33,500 and $34,000 resistance levels. BTC even climbed above the $34,500 level, but it failed to extend gains. A high was formed near $34,676 before the price started a fresh decline. It broke the $34,000 support level and settled below the 100 hourly simple moving average. There was also a break below a key bullish trend line with support near $33,900 on the hourly chart of the BTC\/USD pair. The pair spiked below the $33,000 level and traded as low as $32,675. Bitcoin is now correcting losses and trading above $33,000. It is testing the 23.6% Fib retracement level of the recent decline from the $34,676 high to $32,675 low. The first major resistance is near the $33,500 level and the 100 hourly SMA. The 50% Fib retracement level of the recent decline from the $34,676 high to $32,675 low is also near the $33,600 level. Source: BTCUSD on TradingView.com The main resistance is now near the $34,000 level. A close above the $34,000 level is needed to avoid more downsides in the near term. More Losses in BTC? If bitcoin fails to recover above the $33,500 and $34,000 resistance levels, there is a risk of a larger decline. An initial support on the downside is near the $32,650 level. The first major support is near the $32,500 level. The main support is still near the $32,200 level, below which the price might easily dive towards the $30,000 level. 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 now well below the 50 level. Major Support Levels \u2013 $32,500, followed by $32,200. Major Resistance Levels \u2013 $33,500, $33,650 and $34,000.<\/p>\n","protected":false},"author":67,"featured_media":458059,"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-467354","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 Dives Again<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
More Losses in BTC?<\/h2>\n