{"id":477193,"date":"2021-11-24T03:08:58","date_gmt":"2021-11-24T03:08:58","guid":{"rendered":"https:\/\/ktsl888.com\/?p=477193"},"modified":"2024-06-11T14:09:12","modified_gmt":"2024-06-11T14:09:12","slug":"bitcoin-continues-to-struggle-55k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-continues-to-struggle-55k\/","title":{"rendered":"TA: Bitcoin Continues To Struggle, Why BTC Could Dive Below $55K"},"content":{"rendered":"<p><em>Bitcoin is struggling to recover above $57,500 against the US Dollar. BTC is declining and could accelerate lower below $55,000 in the near term.<\/em><\/p>\n<ul>\n<li>Bitcoin is facing resistance near the key $58,000 and $57,500 levels.<\/li>\n<li>The price is now trading below $57,500 and the 100 hourly simple moving average.<\/li>\n<li>There is a crucial bearish trend line forming with resistance near $57,300 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair is under pressure and might slide further below $55,500 in the near term.<\/li>\n<\/ul>\n<h2>Bitcoin Price Faces Hurdles<\/h2>\n<p>Bitcoin price <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-holds-key-support-60k\/\" target=\"_blank\" rel=\"noopener \">attempted another upside break<\/a> above the $58,000 resistance zone. However, BTC failed to gain strength for a clear move above the $57,500 and $58,000 levels.<\/p>\n<p>A high was formed near $57,850 and the price started a fresh decline. There was a break below the $57,500 and $57,200 levels. The bears pushed the price below the 50% Fib retracement level of the upward move from the $55,362 swing low to $57,850 high.<\/p>\n<p>Bitcoin is now trading below $57,500 and the <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-starts-fresh-decrease-55k\/\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>. There is also a crucial bearish trend line forming with resistance near $57,300 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>An immediate support is near the $56,300 level. It is close to the 61.8% Fib retracement level of the upward move from the $55,362 swing low to $57,850 high. The first major support is now forming near the $56,000 level. The main breakdown support is still near the $55,500 level.<\/p>\n<p><a href=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/11\/Bitcoin-17.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-477194\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/11\/Bitcoin-17.png?resize=1950%2C1113\" alt=\"Bitcoin Price\" width=\"1950\" height=\"1113\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/11\/Bitcoin-17.png?w=1950 1950w, https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/11\/Bitcoin-17.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/11\/Bitcoin-17.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/11\/Bitcoin-17.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/11\/Bitcoin-17.png?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/11\/Bitcoin-17.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/11\/Bitcoin-17.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<pre>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/pre>\n<p>A downside break below the $55,500 level could spark more losses. In the stated case, the price might even decline below the $55,000 level. The next major support could be near the $53,200 level.<\/p>\n<h2>Upside Limited In BTC?<\/h2>\n<p>If bitcoin stays above the $55,500 support, it could attempt a fresh recovery wave. On the upside, an initial resistance is near the $57,000 level.<\/p>\n<p>The first key resistance is near the $57,500 level and the trend line zone. The next major resistance sits near the $57,850 level and the 100 hourly simple moving average, above which the price might rise towards the $59,200 level.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $56,000, followed by $55,500.<\/p>\n<p>Major Resistance Levels \u2013 $57,200, $57,500 and $58,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin is struggling to recover above $57,500 against the US Dollar. BTC is declining and could accelerate lower below $55,000 in the near term. Bitcoin is facing resistance near the key $58,000 and $57,500 levels. The price is now trading below $57,500 and the 100 hourly simple moving average. There is a crucial bearish trend line forming with resistance near $57,300 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is under pressure and might slide further below $55,500 in the near term. Bitcoin Price Faces Hurdles Bitcoin price attempted another upside break above the $58,000 resistance zone. However, BTC failed to gain strength for a clear move above the $57,500 and $58,000 levels. A high was formed near $57,850 and the price started a fresh decline. There was a break below the $57,500 and $57,200 levels. The bears pushed the price below the 50% Fib retracement level of the upward move from the $55,362 swing low to $57,850 high. Bitcoin is now trading below $57,500 and the 100 hourly simple moving average. There is also a crucial bearish trend line forming with resistance near $57,300 on the hourly chart of the BTC\/USD pair. An immediate support is near the $56,300 level. It is close to the 61.8% Fib retracement level of the upward move from the $55,362 swing low to $57,850 high. The first major support is now forming near the $56,000 level. The main breakdown support is still near the $55,500 level. Source: BTCUSD on TradingView.com A downside break below the $55,500 level could spark more losses. In the stated case, the price might even decline below the $55,000 level. The next major support could be near the $53,200 level. Upside Limited In BTC? If bitcoin stays above the $55,500 support, it could attempt a fresh recovery wave. On the upside, an initial resistance is near the $57,000 level. The first key resistance is near the $57,500 level and the trend line zone. The next major resistance sits near the $57,850 level and the 100 hourly simple moving average, above which the price might rise towards the $59,200 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 below the 50 level. Major Support Levels \u2013 $56,000, followed by $55,500. Major Resistance Levels \u2013 $57,200, $57,500 and $58,000.<\/p>\n","protected":false},"author":67,"featured_media":464089,"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-477193","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<title>TA: Bitcoin Continues To Struggle, Why BTC Could Dive Below $55K<\/title>\n<meta name=\"description\" content=\"Bitcoin is struggling to recover above $57,500 against the US Dollar. 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