{"id":476947,"date":"2021-11-22T03:08:23","date_gmt":"2021-11-22T03:08:23","guid":{"rendered":"https:\/\/ktsl888.com\/?p=476947"},"modified":"2024-06-11T12:08:16","modified_gmt":"2024-06-11T12:08:16","slug":"bitcoin-starts-fresh-decrease-55k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-starts-fresh-decrease-55k\/","title":{"rendered":"TA: Bitcoin Starts Fresh Decrease, Why BTC Could Test $55k"},"content":{"rendered":"
Bitcoin failed to clear the $60,000 resistance zone against the US Dollar. BTC is moving lower, and it could extend losses towards $55,000 in the near term.<\/em><\/p>\n Bitcoin price attempted a recovery wave<\/a> above the $58,500 resistance zone. BTC spiked above the $60,000 zone, but there was no real bullish momentum.<\/p>\n As a result, the price started a fresh decline below the $59,200 level. The price traded below the $58,500 support zone and the 100 hourly simple moving average. Besides, there was a break below a key bullish trend line with support near $59,200 on the hourly chart of the BTC\/USD pair.<\/p>\n Bitcoin traded below the 50% Fib retracement level of the upward wave from the $55,674 swing low to $60,050 high. It is now trading below $58,500 and the 100 hourly simple moving average<\/a>.<\/p>\n An immediate support is near the $57,350 level. It is close to the 61.8% Fib retracement level of the upward wave from the $55,674 swing low to $60,050 high. The first major support is now forming near the $56,500 level. A downside break below the $56,500 level could spark more losses.<\/p>\n <\/a><\/p>\n The main support is near the $55,500 and $55,000 levels. Any more losses may perhaps set the pace for a move towards the $52,000 support zone in the near term.<\/p>\n If bitcoin stays above the $56,500 support, it could start a fresh increase. On the upside, an initial resistance is near the $58,000 level.<\/p>\n The first key resistance is near the $58,500 level and the 100 hourly simple moving average. The next major resistance sits near the $59,200 level, above which the price might rise towards the $60,000 level. Any more gains could lead the price towards the $61,200 level.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is now 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 $56,500, followed by $55,500.<\/p>\n Major Resistance Levels \u2013 $58,500, $59,200 and $60,000.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin failed to clear the $60,000 resistance zone against the US Dollar. BTC is moving lower, and it could extend losses towards $55,000 in the near term. Bitcoin struggled to recover above the $60,000 and $60,500 resistance levels. The price is now trading below $58,500 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $59,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is declining, and it seems like the bears are aiming more losses below $56,500. Bitcoin Price Turns Red Bitcoin price attempted a recovery wave above the $58,500 resistance zone. BTC spiked above the $60,000 zone, but there was no real bullish momentum. As a result, the price started a fresh decline below the $59,200 level. The price traded below the $58,500 support zone and the 100 hourly simple moving average. Besides, there was a break below a key bullish trend line with support near $59,200 on the hourly chart of the BTC\/USD pair. Bitcoin traded below the 50% Fib retracement level of the upward wave from the $55,674 swing low to $60,050 high. It is now trading below $58,500 and the 100 hourly simple moving average. An immediate support is near the $57,350 level. It is close to the 61.8% Fib retracement level of the upward wave from the $55,674 swing low to $60,050 high. The first major support is now forming near the $56,500 level. A downside break below the $56,500 level could spark more losses. Source: BTCUSD on TradingView.com The main support is near the $55,500 and $55,000 levels. Any more losses may perhaps set the pace for a move towards the $52,000 support zone in the near term. Fresh Recovery In BTC? If bitcoin stays above the $56,500 support, it could start a fresh increase. On the upside, an initial resistance is near the $58,000 level. The first key resistance is near the $58,500 level and the 100 hourly simple moving average. The next major resistance sits near the $59,200 level, above which the price might rise towards the $60,000 level. Any more gains could lead the price towards the $61,200 level. Technical indicators: Hourly MACD \u2013 The MACD is now 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 $56,500, followed by $55,500. Major Resistance Levels \u2013 $58,500, $59,200 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-476947","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 Recovery In BTC?<\/h2>\n