{"id":485600,"date":"2022-03-10T03:18:28","date_gmt":"2022-03-10T03:18:28","guid":{"rendered":"https:\/\/ktsl888.com\/?p=485600"},"modified":"2024-06-11T14:18:12","modified_gmt":"2024-06-11T14:18:12","slug":"bitcoin-corrects-gains-42-5k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-corrects-gains-42-5k\/","title":{"rendered":"TA: Bitcoin Corrects Gains, Why Dips Could be Attractive In Short-term"},"content":{"rendered":"
Bitcoin rallied above the $42,000 resistance zone against the US Dollar. BTC is correcting gains, but it might find support near the $40,000 zone.<\/em><\/p>\n Bitcoin price remained well bid above the $40,000 support zone<\/a>. BTC extended rally and climbed above the $42,000 resistance zone.<\/p>\n The price even spiked above the $42,500 level and settled above the 100 hourly simple moving average<\/a>. A high was formed near $42,547 before the price started a downside correction. There was a minor decline below the $41,650 support level.<\/p>\n Bitcoin traded below the 23.6% Fib retracement level of the upward move from the $37,160 swing low to $42,547 high. It is now consolidating near the $40,800 level. There is also a key bullish trend line forming with support near $40,250 on the hourly chart of the BTC\/USD pair.<\/p>\n On the upside, an immediate resistance is near the $41,250 level. The next major resistance is near the $42,000 level. If there is a clear move above the $42,000 resistance zone, the price might gain bullish momentum. In the stated case, the price could rise towards the $42,500 zone.<\/p>\n <\/a><\/p>\n If the bulls remain in action, they might attempt a new weekly high above the $42,500 zone. The next major resistance sits near the $43,200 level.<\/p>\n If bitcoin fails to clear the $41,650 resistance zone, it could continue to move down. An immediate support on the downside is near the $40,500 zone.<\/p>\n The next major support is seen near the $40,250 level and the trend line. The main support sits near the $40,000 zone or the 50% Fib retracement level of the upward move from the $37,160 swing low to $42,547 high. If there is a downside break below the $39,500 support, the price might gain bearish momentum.<\/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 $40,250, followed by $39,500.<\/p>\n Major Resistance Levels \u2013 $41,250, $41,650 and $42,500.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin rallied above the $42,000 resistance zone against the US Dollar. BTC is correcting gains, but it might find support near the $40,000 zone. Bitcoin extended rally and even traded above the $42,000 resistance zone. The price is trading above $40,000 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $40,250 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair might start a fresh increase unless there is a close below the 39,500 support zone. Bitcoin Price Dips Bitcoin price remained well bid above the $40,000 support zone. BTC extended rally and climbed above the $42,000 resistance zone. The price even spiked above the $42,500 level and settled above the 100 hourly simple moving average. A high was formed near $42,547 before the price started a downside correction. There was a minor decline below the $41,650 support level. Bitcoin traded below the 23.6% Fib retracement level of the upward move from the $37,160 swing low to $42,547 high. It is now consolidating near the $40,800 level. There is also a key bullish trend line forming with support near $40,250 on the hourly chart of the BTC\/USD pair. On the upside, an immediate resistance is near the $41,250 level. The next major resistance is near the $42,000 level. If there is a clear move above the $42,000 resistance zone, the price might gain bullish momentum. In the stated case, the price could rise towards the $42,500 zone. Source: BTCUSD on TradingView.com If the bulls remain in action, they might attempt a new weekly high above the $42,500 zone. The next major resistance sits near the $43,200 level. More Losses in BTC? If bitcoin fails to clear the $41,650 resistance zone, it could continue to move down. An immediate support on the downside is near the $40,500 zone. The next major support is seen near the $40,250 level and the trend line. The main support sits near the $40,000 zone or the 50% Fib retracement level of the upward move from the $37,160 swing low to $42,547 high. If there is a downside break below the $39,500 support, the price might gain bearish momentum. 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 $40,250, followed by $39,500. Major Resistance Levels \u2013 $41,250, $41,650 and $42,500.<\/p>\n","protected":false},"author":67,"featured_media":462274,"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-485600","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 Dips<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
More Losses in BTC?<\/h2>\n