{"id":472596,"date":"2021-09-28T03:08:22","date_gmt":"2021-09-28T03:08:22","guid":{"rendered":"https:\/\/ktsl888.com\/?p=472596"},"modified":"2024-06-11T13:59:00","modified_gmt":"2024-06-11T13:59:00","slug":"bitcoin-stuck-in-range-43k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-stuck-in-range-43k\/","title":{"rendered":"TA: Bitcoin Stuck In Range, What Could Spark Key Reversal"},"content":{"rendered":"
Bitcoin price failed to clear the $45,000 resistance against the US Dollar. BTC is declining and it remains at a risk of more downsides below $42,000.<\/em><\/p>\n Bitcoin price started a steady increase<\/a> above the $43,000 resistance. BTC even climbed above the $44,000 level and the 100 hourly simple moving average, but it failed to extend gains.<\/p>\n There was no upside continuation above $44,500 and $45,000. As a result, the price started a downside correction below the $44,000 and $43,500 levels. The price declined below the 50% Fib retracement level of the upward move from the $40,802 swing low to $44,327 high.<\/p>\n It is now trading below $43,000 and the 100 hourly simple moving average<\/a>. There is also a key bearish trend line forming with resistance near $43,000 on the hourly chart of the BTC\/USD pair.<\/p>\n Bitcoin price is now consolidating near the $42,200 level. The bulls are protecting the 61.8% Fib retracement level of the upward move from the $40,802 swing low to $44,327 high. On the upside, an immediate resistance is near the $42,800 level.<\/p>\n <\/a><\/p>\n The first major resistance is near the $43,000 level and the 100 hourly simple moving average. A close above the $43,000 level could start a fresh increase. Having said that, a clear break above $45,000 is must to spark a key reversal in the near term.<\/p>\n If bitcoin fails to clear the $43,000 resistance zone, it could continue to move down. An immediate support on the downside is near the $42,200 level.<\/p>\n The first major support is near the $42,000 zone. A close below the $42,000 support level might lead the price towards the $40,800 zone. Any more losses could increase selling pressure for a move below $40,000.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is slowly gaining pace 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 $42,200, followed by $42,000.<\/p>\n Major Resistance Levels \u2013 $42,800, $43,000 and $44,500.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin price failed to clear the $45,000 resistance against the US Dollar. BTC is declining and it remains at a risk of more downsides below $42,000. Bitcoin failed to continue higher above the $44,500 and $45,000 resistance levels. The price is now trading below $43,000 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $43,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could continue to move down if it stays below the $43,000 pivot level. Bitcoin Price Fails Again Bitcoin price started a steady increase above the $43,000 resistance. BTC even climbed above the $44,000 level and the 100 hourly simple moving average, but it failed to extend gains. There was no upside continuation above $44,500 and $45,000. As a result, the price started a downside correction below the $44,000 and $43,500 levels. The price declined below the 50% Fib retracement level of the upward move from the $40,802 swing low to $44,327 high. It is now trading below $43,000 and the 100 hourly simple moving average. There is also a key bearish trend line forming with resistance near $43,000 on the hourly chart of the BTC\/USD pair. Bitcoin price is now consolidating near the $42,200 level. The bulls are protecting the 61.8% Fib retracement level of the upward move from the $40,802 swing low to $44,327 high. On the upside, an immediate resistance is near the $42,800 level. Source: BTCUSD on TradingView.com The first major resistance is near the $43,000 level and the 100 hourly simple moving average. A close above the $43,000 level could start a fresh increase. Having said that, a clear break above $45,000 is must to spark a key reversal in the near term. More Downsides In BTC? If bitcoin fails to clear the $43,000 resistance zone, it could continue to move down. An immediate support on the downside is near the $42,200 level. The first major support is near the $42,000 zone. A close below the $42,000 support level might lead the price towards the $40,800 zone. Any more losses could increase selling pressure for a move below $40,000. Technical indicators: Hourly MACD \u2013 The MACD is slowly gaining pace 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 $42,200, followed by $42,000. Major Resistance Levels \u2013 $42,800, $43,000 and $44,500.<\/p>\n","protected":false},"author":67,"featured_media":461913,"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-472596","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 Fails Again<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
More Downsides In BTC?<\/h2>\n