{"id":485341,"date":"2022-03-08T03:08:47","date_gmt":"2022-03-08T03:08:47","guid":{"rendered":"https:\/\/ktsl888.com\/?p=485341"},"modified":"2024-06-11T14:18:04","modified_gmt":"2024-06-11T14:18:04","slug":"bitcoin-faces-uphill-task-40k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-faces-uphill-task-40k\/","title":{"rendered":"TA: Bitcoin Faces Uphill Task, Why BTC Bears Are Still In Control"},"content":{"rendered":"
Bitcoin remained in a bearish zone below $39,000 against the US Dollar. BTC could recover only if it manages to clear the $40,000 resistance zone.<\/em><\/p>\n Bitcoin price settled below the $40,000 pivot level<\/a> and the 100 hourly simple moving average. BTC even broke the $38,000 support level and traded as low as $37,159.<\/p>\n The bulls managed to protect the $37,000 support zone. It is now recovering losses and trading above $37,500. There was a move above the $38,000 resistance zone. The price is now testing the 50% Fib retracement level of the recent decline from the $39,545 swing high to $37,159 low.<\/p>\n On the upside, bitcoin price might face resistance<\/a> near the $38,800 level. It is close to the 61.8% Fib retracement level of the recent decline from the $39,545 swing high to $37,159 low.<\/p>\n <\/a><\/p>\n There is also a key triangle pattern forming with resistance near $39,000 on the hourly chart of the BTC\/USD pair. The next major resistance is near the $39,200 level and the 100 hourly simple moving average. A clear move above the $39,200 level might open the doors for a test of $40,000. A close above $40,000 could set the pace for more upsides in the near term.<\/p>\n If bitcoin fails to clear the $39,200 resistance zone, it could continue to move down. An immediate support on the downside is near the $38,000 zone.<\/p>\n The next major support is seen near the $37,200 level. If there is a downside break below the $37,200 support, the price might start another decline. In the stated case, there is a risk of a move towards the $35,500 level.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is now losing pace in the bearish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now near the 50 level.<\/p>\n Major Support Levels \u2013 $38,000, followed by $37,200.<\/p>\n Major Resistance Levels \u2013 $38,800, $39,200 and $40,000.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin remained in a bearish zone below $39,000 against the US Dollar. BTC could recover only if it manages to clear the $40,000 resistance zone. Bitcoin is showing bearish signs below the $39,000 and $40,000 resistance levels. The price is trading below $39,000 and the 100 hourly simple moving average. There is a key triangle pattern forming with resistance near $39,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair might start a recovery wave if there is a clear move above $39,000 and $40,000. Bitcoin Price Remains in a Bearish Zone Bitcoin price settled below the $40,000 pivot level and the 100 hourly simple moving average. BTC even broke the $38,000 support level and traded as low as $37,159. The bulls managed to protect the $37,000 support zone. It is now recovering losses and trading above $37,500. There was a move above the $38,000 resistance zone. The price is now testing the 50% Fib retracement level of the recent decline from the $39,545 swing high to $37,159 low. On the upside, bitcoin price might face resistance near the $38,800 level. It is close to the 61.8% Fib retracement level of the recent decline from the $39,545 swing high to $37,159 low. Source: BTCUSD on TradingView.com There is also a key triangle pattern forming with resistance near $39,000 on the hourly chart of the BTC\/USD pair. The next major resistance is near the $39,200 level and the 100 hourly simple moving average. A clear move above the $39,200 level might open the doors for a test of $40,000. A close above $40,000 could set the pace for more upsides in the near term. More Losses in BTC? If bitcoin fails to clear the $39,200 resistance zone, it could continue to move down. An immediate support on the downside is near the $38,000 zone. The next major support is seen near the $37,200 level. If there is a downside break below the $37,200 support, the price might start another decline. In the stated case, there is a risk of a move towards the $35,500 level. Technical indicators: Hourly MACD \u2013 The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now near the 50 level. Major Support Levels \u2013 $38,000, followed by $37,200. Major Resistance Levels \u2013 $38,800, $39,200 and $40,000.<\/p>\n","protected":false},"author":67,"featured_media":464677,"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-485341","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 Remains in a Bearish Zone<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
More Losses in BTC?<\/h2>\n