{"id":478793,"date":"2021-12-14T03:18:01","date_gmt":"2021-12-14T03:18:01","guid":{"rendered":"https:\/\/ktsl888.com\/?p=478793"},"modified":"2024-06-11T14:09:46","modified_gmt":"2024-06-11T14:09:46","slug":"bitcoin-turns-red-below-50k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-turns-red-below-50k\/","title":{"rendered":"TA: Bitcoin Turns Red: Why BTC Bears Remain In Control Below $50K"},"content":{"rendered":"<p><em>Bitcoin extended decline below the $47,000 support zone against the US Dollar. BTC could correct lower, but the bears might remain active near $48,000.<\/em><\/p>\n<ul>\n<li>Bitcoin declined further below the $48,000 and $47,000 support levels.<\/li>\n<li>The price is now trading well below $48,000 and the 100 hourly simple moving average.<\/li>\n<li>Earlier, there was a break below a major rising channel with support near $49,400 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair is correcting losses, but there are a lot of hurdles on the upside near $48,000.<\/li>\n<\/ul>\n<h2>Bitcoin Price Breaks Key Support<\/h2>\n<p>Bitcoin price failed to stay above the <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-consolidates-below-50k\/\" target=\"_blank\" rel=\"noopener \">$50,000 support zone<\/a>. As a result, there was a sharp bearish reaction and BTC settled below the $50,000 pivot level.<\/p>\n<p>There was a break below a major rising channel with support near $49,400 on the hourly chart of the BTC\/USD pair. The pair even broke the $47,000 support level and settled well below the <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-rejects-50k\/\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>.<\/p>\n<p>A low was formed near $45,759 and the price is now correcting losses. Bitcoin price is now trading near the 23.6% Fib retracement level of the downward move from the $50,788 swing high to $45,759 low. An immediate resistance on the upside is near the $47,400 level.<\/p>\n<p><a href=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/12\/Bitcoin-9.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-478794\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/12\/Bitcoin-9.png?resize=1950%2C1113\" alt=\"Bitcoin Price\" width=\"1950\" height=\"1113\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/12\/Bitcoin-9.png?w=1950 1950w, https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/12\/Bitcoin-9.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/12\/Bitcoin-9.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/12\/Bitcoin-9.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/12\/Bitcoin-9.png?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/12\/Bitcoin-9.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/12\/Bitcoin-9.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>The first major resistance is near the $48,250 level. It is near the 50% Fib retracement level of the downward move from the $50,788 swing high to $45,759 low. A proper break above the $48,250 resistance could open the doors for more upsides. The next key resistance is near the $50,000 level, above which the price may possibly gain momentum.<\/p>\n<h2>More Losses In BTC?<\/h2>\n<p>If bitcoin fails to clear the $48,250 resistance zone, it could continue to move down. An immediate support on the downside is near the $46,500 level.<\/p>\n<p>The first major support is now forming near the $46,000 level. A downside break below the $46,000 support may perhaps push the price towards the $45,500 support. Any more losses could lead the price towards the $45,000 support zone in the near term.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is slowly losing pace in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently well below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $46,250, followed by $46,000.<\/p>\n<p>Major Resistance Levels \u2013 $47,400, $48,000 and $48,250.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin extended decline below the $47,000 support zone against the US Dollar. BTC could correct lower, but the bears might remain active near $48,000. Bitcoin declined further below the $48,000 and $47,000 support levels. The price is now trading well below $48,000 and the 100 hourly simple moving average. Earlier, there was a break below a major rising channel with support near $49,400 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is correcting losses, but there are a lot of hurdles on the upside near $48,000. Bitcoin Price Breaks Key Support Bitcoin price failed to stay above the $50,000 support zone. As a result, there was a sharp bearish reaction and BTC settled below the $50,000 pivot level. There was a break below a major rising channel with support near $49,400 on the hourly chart of the BTC\/USD pair. The pair even broke the $47,000 support level and settled well below the 100 hourly simple moving average. A low was formed near $45,759 and the price is now correcting losses. Bitcoin price is now trading near the 23.6% Fib retracement level of the downward move from the $50,788 swing high to $45,759 low. An immediate resistance on the upside is near the $47,400 level. Source: BTCUSD on TradingView.com The first major resistance is near the $48,250 level. It is near the 50% Fib retracement level of the downward move from the $50,788 swing high to $45,759 low. A proper break above the $48,250 resistance could open the doors for more upsides. The next key resistance is near the $50,000 level, above which the price may possibly gain momentum. More Losses In BTC? If bitcoin fails to clear the $48,250 resistance zone, it could continue to move down. An immediate support on the downside is near the $46,500 level. The first major support is now forming near the $46,000 level. A downside break below the $46,000 support may perhaps push the price towards the $45,500 support. Any more losses could lead the price towards the $45,000 support zone in the near term. Technical indicators: Hourly MACD \u2013 The MACD is slowly losing pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently well below the 50 level. Major Support Levels \u2013 $46,250, followed by $46,000. Major Resistance Levels \u2013 $47,400, $48,000 and $48,250.<\/p>\n","protected":false},"author":67,"featured_media":464763,"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-478793","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 Turns Red: Why BTC Bears Remain In Control Below $50K<\/title>\n<meta name=\"description\" content=\"Bitcoin extended decline below the $47,000 support zone against the US Dollar. 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Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation. As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.","sameAs":["https:\/\/www.linkedin.com\/in\/aayush-jindal-358b6932\/","https:\/\/x.com\/twitter.com\/AayushJs"],"url":"https:\/\/ktsl888.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"TA: Bitcoin Turns Red: Why BTC Bears Remain In Control Below $50K","url":"http:\/\/ktsl888.com\/news\/bitcoin-turns-red-below-50k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/bitcoin-turns-red-below-50k\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/05\/shutterstock_1610297188.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/05\/shutterstock_1610297188.jpg?fit=1000%2C556"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btcusd","btcusdt","xbtusd"],"dateCreated":"2021-12-14T03:18:01Z","datePublished":"2021-12-14T03:18:01Z","dateModified":"2024-06-11T14:09:46Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Bitcoin Turns Red: Why BTC Bears Remain In Control Below $50K\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-turns-red-below-50k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-turns-red-below-50k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_1610297188.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_1610297188.jpg?fit=1000%2C556\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btcusd\",\"btcusdt\",\"xbtusd\"],\"dateCreated\":\"2021-12-14T03:18:01Z\",\"datePublished\":\"2021-12-14T03:18:01Z\",\"dateModified\":\"2024-06-11T14:09:46Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/05\/shutterstock_1610297188.jpg?fit=1000%2C556","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/478793"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=478793"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/478793\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/464763"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=478793"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=478793"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=478793"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}