{"id":487613,"date":"2022-04-06T03:18:47","date_gmt":"2022-04-06T03:18:47","guid":{"rendered":"https:\/\/ktsl888.com\/?p=487613"},"modified":"2024-06-11T14:18:57","modified_gmt":"2024-06-11T14:18:57","slug":"bitcoin-tops-near-47k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-tops-near-47k\/","title":{"rendered":"TA: Bitcoin Tops Near $47K, Why The Bulls Must Defend $45K"},"content":{"rendered":"
Bitcoin struggled to gain momentum above $47,000 against the US Dollar. BTC started a fresh decline and dived to the $45,000 support zone.<\/em><\/p>\n Bitcoin price made another attempt to gain momentum above the $47,000 resistance zone<\/a>. However, BTC failed to continue higher above $47,000 and reacted the downside.<\/p>\n There was a downside break below the $46,000 support level and the 100 hourly simple moving average<\/a>. The price declined below the $45,500 support to move into a short-term bearish zone. However, the bulls are now defending the $45,000 support zone.<\/p>\n A low is formed near $45,048 and the price is now consolidating. On the upside, an immediate resistance is near the $45,450 level. It is near the 23.6% Fib retracement level of the recent decline from the $46,845 swing high from the $45,048 low.<\/p>\n The next resistance could be near $45,800 or $45,900. The 50% Fib retracement level of the recent decline from the $46,845 swing high from the $45,048 low is also near the $49,950 level.<\/p>\n <\/a><\/p>\n Besides, there is a key bearish trend line forming with resistance near $46,600 on the hourly chart of the BTC\/USD pair. Bitcoin price must clear the $46,000 and $46,600 resistance levels to gain bullish momentum in the near term.<\/p>\n If bitcoin fails to clear the $46,000 resistance zone, it could continue to move down. An immediate support on the downside is near the $45,200 level.<\/p>\n The next major support is seen near the $45,000 level. A downside break below the $45,000 support zone could start a major decline. In the stated case, the price could even decline to $44,360 in the near term. The next major support might be $44,000.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is slowly losing pace in the bearish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is well below the 50 level.<\/p>\n Major Support Levels \u2013 $45,200, followed by $45,000.<\/p>\n Major Resistance Levels \u2013 $45,450, $46,000 and $46,600.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin struggled to gain momentum above $47,000 against the US Dollar. BTC started a fresh decline and dived to the $45,000 support zone. Bitcoin reacted to the downside after it formed a short-term top near $47,000. The price is trading below $46,000 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $46,600 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair must stay above the $45,000 support to avoid more downsides in the near term. Bitcoin Price Trims Gains Bitcoin price made another attempt to gain momentum above the $47,000 resistance zone. However, BTC failed to continue higher above $47,000 and reacted the downside. There was a downside break below the $46,000 support level and the 100 hourly simple moving average. The price declined below the $45,500 support to move into a short-term bearish zone. However, the bulls are now defending the $45,000 support zone. A low is formed near $45,048 and the price is now consolidating. On the upside, an immediate resistance is near the $45,450 level. It is near the 23.6% Fib retracement level of the recent decline from the $46,845 swing high from the $45,048 low. The next resistance could be near $45,800 or $45,900. The 50% Fib retracement level of the recent decline from the $46,845 swing high from the $45,048 low is also near the $49,950 level. Source: BTCUSD on TradingView.com Besides, there is a key bearish trend line forming with resistance near $46,600 on the hourly chart of the BTC\/USD pair. Bitcoin price must clear the $46,000 and $46,600 resistance levels to gain bullish momentum in the near term. More Losses in BTC? If bitcoin fails to clear the $46,000 resistance zone, it could continue to move down. An immediate support on the downside is near the $45,200 level. The next major support is seen near the $45,000 level. A downside break below the $45,000 support zone could start a major decline. In the stated case, the price could even decline to $44,360 in the near term. The next major support might be $44,000. 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 well below the 50 level. Major Support Levels \u2013 $45,200, followed by $45,000. Major Resistance Levels \u2013 $45,450, $46,000 and $46,600.<\/p>\n","protected":false},"author":67,"featured_media":459029,"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-487613","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 Trims Gains<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
More Losses in BTC?<\/h2>\n