{"id":469015,"date":"2021-08-11T03:51:32","date_gmt":"2021-08-11T03:51:32","guid":{"rendered":"https:\/\/ktsl888.com\/?p=469015"},"modified":"2024-06-11T13:57:37","modified_gmt":"2024-06-11T13:57:37","slug":"bitcoin-faces-hurdles-46500","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-faces-hurdles-46500\/","title":{"rendered":"TA: Bitcoin Faces Hurdles, Why BTC Could Correct In Short-Term"},"content":{"rendered":"
Bitcoin price is facing a strong resistance above $46,500 against the US Dollar. BTC is slowly correcting lower and it might test the $44,500 support zone.<\/em><\/p>\n Bitcoin price traded as high as $46,546 before it faced sellers, similar to ethereum<\/a>. BTC made a few attempts to settle above $46,000, but it failed.<\/p>\n It is now correcting lower and trading below the $45,600 level. There was a break below the 23.6% Fib retracement level of the upward move from the $42,843 swing low to $46,546 high. Besides, there was a break below a key bullish trend line with support near $45,450 on the hourly chart of the BTC\/USD pair.<\/p>\n The pair is still trading above $45,000 and the 100 hourly simple moving average<\/a>. An immediate support on the downside is near the $45,000 level.<\/p>\n <\/a><\/p>\n On the upside, an initial resistance is near the $46,000 level. The first key resistance is near the $46,200 level. The main resistance is now forming near the $46,500 level. A clear break above the $46,500 resistance zone might start a decent increase. The next major resistance is near the $47,000 level. Any more gains could lead the price towards the $48,000 level.<\/p>\n If bitcoin fails to climb above the $46,000 and $46,200 resistance levels, it could continue to move down. An initial support on the downside is near the $45,000 level.<\/p>\n The first major support is now near the $44,500 zone and the 100 hourly SMA. It is close to the 50% Fib retracement level of the upward move from the $42,843 swing low to $46,546 high. Any more losses may possibly call for a test of the $44,000 level. The next major support could be $43,000.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is slowly losing pace in the bullish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now close to the 50 level.<\/p>\n Major Support Levels \u2013 $45,000, followed by $44,500.<\/p>\n Major Resistance Levels \u2013 $46,000, $46,200 and $46,500.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin price is facing a strong resistance above $46,500 against the US Dollar. BTC is slowly correcting lower and it might test the $44,500 support zone. Bitcoin made a few attempts to settle above $46,000, but it failed. The price is still trading above $45,000 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $45,450 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could correct lower towards $44,500 or even $44,000 in the near term. Bitcoin Price Could Correct Gains Bitcoin price traded as high as $46,546 before it faced sellers, similar to ethereum. BTC made a few attempts to settle above $46,000, but it failed. It is now correcting lower and trading below the $45,600 level. There was a break below the 23.6% Fib retracement level of the upward move from the $42,843 swing low to $46,546 high. Besides, there was a break below a key bullish trend line with support near $45,450 on the hourly chart of the BTC\/USD pair. The pair is still trading above $45,000 and the 100 hourly simple moving average. An immediate support on the downside is near the $45,000 level. Source: BTCUSD on TradingView.com On the upside, an initial resistance is near the $46,000 level. The first key resistance is near the $46,200 level. The main resistance is now forming near the $46,500 level. A clear break above the $46,500 resistance zone might start a decent increase. The next major resistance is near the $47,000 level. Any more gains could lead the price towards the $48,000 level. Dips Supported in BTC? If bitcoin fails to climb above the $46,000 and $46,200 resistance levels, it could continue to move down. An initial support on the downside is near the $45,000 level. The first major support is now near the $44,500 zone and the 100 hourly SMA. It is close to the 50% Fib retracement level of the upward move from the $42,843 swing low to $46,546 high. Any more losses may possibly call for a test of the $44,000 level. The next major support could be $43,000. Technical indicators: Hourly MACD \u2013 The MACD is slowly losing pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now close to the 50 level. Major Support Levels \u2013 $45,000, followed by $44,500. Major Resistance Levels \u2013 $46,000, $46,200 and $46,500.<\/p>\n","protected":false},"author":67,"featured_media":464592,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1,83361,3],"tags":[428,1144,78790,76835],"class_list":["post-469015","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all","category-btc","category-news","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n\n
Bitcoin Price Could Correct Gains<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Dips Supported in BTC?<\/h2>\n