{"id":487477,"date":"2022-04-04T03:28:31","date_gmt":"2022-04-04T03:28:31","guid":{"rendered":"https:\/\/ktsl888.com\/?p=487477"},"modified":"2024-06-11T14:18:54","modified_gmt":"2024-06-11T14:18:54","slug":"bitcoin-faces-hurdles-47k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-faces-hurdles-47k\/","title":{"rendered":"TA: Bitcoin Faces Hurdles, Why $45K Is The Key"},"content":{"rendered":"
Bitcoin attempted an upside break above $47,500 against the US Dollar. BTC failed to gain traction and corrected lower below $46,500.<\/em><\/p>\n Bitcoin price started a decent increase from the $44,500 support zone<\/a>. BTC climbed above the $45,000 and $45,500 resistance levels.<\/p>\n It even climbed above the $46,500 level and the 100 hourly simple moving average. However, the bears were active below the $47,500 resistance zone. A high was formed near $47,444 and the price started a fresh decline.<\/p>\n There was a clear move below the $46,500 support and the 100 hourly simple moving average<\/a>. The price declined below the 23.6% Fib retracement level of the upward wave from the $44,257 swing low $47,444 high. Besides, there was a break below a major breakout pattern with support near $46,400 on the hourly chart of the BTC\/USD pair.<\/p>\n Bitcoin price is now testing the 50% Fib retracement level of the upward wave from the $44,257 swing low $47,444 high. An immediate support on the downside is near the $45,850 level.<\/p>\n <\/a><\/p>\n The next major support is seen near the $45,500 level. The main support now sits near the $45,000 level. A downside break below the $45,000 support zone could increase selling pressure in the near term. In the stated case, the price could even decline below $44,250.<\/p>\n If bitcoin remains stable above the $45,000 support level, it could attempt a fresh increase. An immediate resistance on the upside is near the $46,250 level and the 100 hourly SMA.<\/p>\n The next major resistance is near the $46,750 level. The key hurdle is now forming near the $47,500 level, above which the price might rise steadily. In the stated case, it could test the $48,500 resistance zone.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is slowly gaining pace in the bearish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is below the 50 level.<\/p>\n Major Support Levels \u2013 $45,250, followed by $45,000.<\/p>\n Major Resistance Levels \u2013 $46,250, $46,850 and $47,500.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin attempted an upside break above $47,500 against the US Dollar. BTC failed to gain traction and corrected lower below $46,500. Bitcoin is showing bearish signs and struggling below the $47,000 pivot level. The price is trading below $46,500 and the 100 hourly simple moving average. There was a break below a major breakout pattern with support near $46,400 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could extend decline and test the $45,000 support zone in the near term. Bitcoin Price Struggles Below $47K Bitcoin price started a decent increase from the $44,500 support zone. BTC climbed above the $45,000 and $45,500 resistance levels. It even climbed above the $46,500 level and the 100 hourly simple moving average. However, the bears were active below the $47,500 resistance zone. A high was formed near $47,444 and the price started a fresh decline. There was a clear move below the $46,500 support and the 100 hourly simple moving average. The price declined below the 23.6% Fib retracement level of the upward wave from the $44,257 swing low $47,444 high. Besides, there was a break below a major breakout pattern with support near $46,400 on the hourly chart of the BTC\/USD pair. Bitcoin price is now testing the 50% Fib retracement level of the upward wave from the $44,257 swing low $47,444 high. An immediate support on the downside is near the $45,850 level. Source: BTCUSD on TradingView.com The next major support is seen near the $45,500 level. The main support now sits near the $45,000 level. A downside break below the $45,000 support zone could increase selling pressure in the near term. In the stated case, the price could even decline below $44,250. Upsides Capped in BTC? If bitcoin remains stable above the $45,000 support level, it could attempt a fresh increase. An immediate resistance on the upside is near the $46,250 level and the 100 hourly SMA. The next major resistance is near the $46,750 level. The key hurdle is now forming near the $47,500 level, above which the price might rise steadily. In the stated case, it could test the $48,500 resistance zone. Technical indicators: Hourly MACD \u2013 The MACD is slowly 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 $45,250, followed by $45,000. Major Resistance Levels \u2013 $46,250, $46,850 and $47,500.<\/p>\n","protected":false},"author":67,"featured_media":459773,"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-487477","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 Struggles Below $47K<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Upsides Capped in BTC?<\/h2>\n