{"id":485115,"date":"2022-03-04T03:08:57","date_gmt":"2022-03-04T03:08:57","guid":{"rendered":"https:\/\/ktsl888.com\/?p=485115"},"modified":"2024-06-11T14:17:58","modified_gmt":"2024-06-11T14:17:58","slug":"bitcoin-40k-is-the-key","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-40k-is-the-key\/","title":{"rendered":"TA: Bitcoin Showing Early Signs of Fresh Decline, But $40K Is the Key"},"content":{"rendered":"
Bitcoin started a downside correction and traded below $42,000 against the US Dollar. BTC must stay above $40,000 to avoid a trend reversal.<\/em><\/p>\n Bitcoin price failed to stay above the $43,000 support zone<\/a>. BTC extended decline and traded below the $42,500 support level.<\/p>\n There was a move below the 23.6% Fib retracement level of the key increase from the $37,030 swing low to $45,350 high. Besides, there was a break below a major bullish trend line with support near $42,500 on the hourly chart of the BTC\/USD pair.<\/p>\n Bitcoin is now trading below $43,000 and the 100 hourly simple moving average. It is testing the $41,200 support level. It is also near the 50% Fib retracement level of the key increase from the $37,030 swing low to $45,350 high.<\/p>\n If the price stays above the $41,200 support, it could attempt a fresh increase. On the upside, an initial resistance is near the $42,000 level. The first key resistance is near the $42,500 level and the 100 hourly simple moving average<\/a>.<\/p>\n <\/a><\/p>\n A clear move above the $42,500 resistance might set the pace for a fresh increase. In the stated case, the price could surpass the $43,000 resistance zone. The next major resistance for the bulls may possibly be near the $44,200 level.<\/p>\n If bitcoin fails to clear the $42,500 resistance zone, it could continue to move down. An immediate support on the downside is near the $41,200 zone.<\/p>\n The next major support is seen near the $40,200 level. The main support is still near the $40,000 level. If there is a downside break below the $40,000 support, the price might start a major decline.<\/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 near the 30 level.<\/p>\n Major Support Levels \u2013 $41,200, followed by $40,000.<\/p>\n Major Resistance Levels \u2013 $42,000, $42,500 and $43,000.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin started a downside correction and traded below $42,000 against the US Dollar. BTC must stay above $40,000 to avoid a trend reversal. Bitcoin started a fresh decline below the $43,000 and $42,000 levels. The price is trading below $43,000 and the 100 hourly simple moving average. There was a break below a major bullish trend line with support near $42,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair might correct further, but the $40,000 support is the key. Bitcoin Price Breaks Support Bitcoin price failed to stay above the $43,000 support zone. BTC extended decline and traded below the $42,500 support level. There was a move below the 23.6% Fib retracement level of the key increase from the $37,030 swing low to $45,350 high. Besides, there was a break below a major bullish trend line with support near $42,500 on the hourly chart of the BTC\/USD pair. Bitcoin is now trading below $43,000 and the 100 hourly simple moving average. It is testing the $41,200 support level. It is also near the 50% Fib retracement level of the key increase from the $37,030 swing low to $45,350 high. If the price stays above the $41,200 support, it could attempt a fresh increase. On the upside, an initial resistance is near the $42,000 level. The first key resistance is near the $42,500 level and the 100 hourly simple moving average. Source: BTCUSD on TradingView.com A clear move above the $42,500 resistance might set the pace for a fresh increase. In the stated case, the price could surpass the $43,000 resistance zone. The next major resistance for the bulls may possibly be near the $44,200 level. More Losses in BTC? If bitcoin fails to clear the $42,500 resistance zone, it could continue to move down. An immediate support on the downside is near the $41,200 zone. The next major support is seen near the $40,200 level. The main support is still near the $40,000 level. If there is a downside break below the $40,000 support, the price might start a major decline. 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 near the 30 level. Major Support Levels \u2013 $41,200, followed by $40,000. Major Resistance Levels \u2013 $42,000, $42,500 and $43,000.<\/p>\n","protected":false},"author":67,"featured_media":463052,"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-485115","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 Breaks Support<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
More Losses in BTC?<\/h2>\n