{"id":564817,"date":"2023-12-11T03:30:12","date_gmt":"2023-12-11T03:30:12","guid":{"rendered":"https:\/\/ktsl888.com\/?p=564817"},"modified":"2024-06-11T13:56:56","modified_gmt":"2024-06-11T13:56:56","slug":"bitcoin-price-crashes-8-and-wipes-weekly-gains-dips-supported","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-price-crashes-8-and-wipes-weekly-gains-dips-supported\/","title":{"rendered":"Bitcoin Price Crashes 8% and Wipes Weekly Gains, Dips Supported?"},"content":{"rendered":"<p><em>Bitcoin price started a sharp decline after trading close to $45,000. BTC is down over 8% but the bulls seem to be active above $40,000.<\/em><\/p>\n<ul>\n<li>Bitcoin is showing a few bearish signs from the $44,699 high.<\/li>\n<li>The price is trading below $43,500 and the 100 hourly Simple moving average.<\/li>\n<li>There was a break below a key bullish trend line with support near $43,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could find strong buying interest near the $40,000 zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Drops Heavily<\/h2>\n<p>Bitcoin price remained in a <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-strong-44k\/\" target=\"_blank\" rel=\"noopener \">bullish zone<\/a> after it broke the $40,000 resistance. BTC climbed higher steadily above the $42,000 and $43,000 levels. The price even rallied above $44,000.<\/p>\n<p>However, it failed to test the $45,000 resistance. A high was formed near $44,699 and the price started a sharp downside correction. There was a move below the $44,000 level. Besides, there was a break below a key bullish trend line with support near $43,500 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>The pair declined below the 50% Fib retracement level of the upward move from the $39,398 swing low to the $44,699 high. Bitcoin is now trading below $43,500 and the <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-consolidates-45k\/\" target=\"_blank\" rel=\"noopener \">100 hourly Simple moving average<\/a>.<\/p>\n<p>However, the bulls are protecting the $40,000 support and the 76.4% Fib retracement level of the upward move from the $39,398 swing low to the $44,699 high. The price is attempting a recovery wave and facing resistance near the $42,400 level.<\/p>\n<p><a href=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/Bitcoin-7.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-564818\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/Bitcoin-7.png?resize=1024%2C458\" alt=\"Bitcoin Price\" width=\"1024\" height=\"458\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/Bitcoin-7.png?w=1950 1950w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/Bitcoin-7.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/Bitcoin-7.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/Bitcoin-7.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/Bitcoin-7.png?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/Bitcoin-7.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/Bitcoin-7.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/p>\n<p>The first major resistance is forming near $43,2000, above which the price might gain bullish momentum and rise toward $44,000. A close above the $44,000 resistance might start a strong upward move. The next key resistance could be near $44,200, above which BTC could rise toward the $45,000 level.<\/p>\n<h2>$40K Is The Key For BTC<\/h2>\n<p>If Bitcoin fails to rise above the $43,200 resistance zone, it could start another decline. Immediate support on the downside is near the $41,200 level.<\/p>\n<p>The next major support is near $40,500, below which the price might test the $40,000 zone. If there is a move below $40,000, there is a risk of more downsides. In the stated case, the price could drop toward the $38,500 support in the near term.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 30 level.<\/p>\n<p>Major Support Levels \u2013 $41,200, followed by $40,000.<\/p>\n<p>Major Resistance Levels \u2013 $42,400, $43,200, and $44,200.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price started a sharp decline after trading close to $45,000. BTC is down over 8% but the bulls seem to be active above $40,000. Bitcoin is showing a few bearish signs from the $44,699 high. The price is trading below $43,500 and the 100 hourly Simple moving average. There was a break below a key bullish trend line with support near $43,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could find strong buying interest near the $40,000 zone. Bitcoin Price Drops Heavily Bitcoin price remained in a bullish zone after it broke the $40,000 resistance. BTC climbed higher steadily above the $42,000 and $43,000 levels. The price even rallied above $44,000. However, it failed to test the $45,000 resistance. A high was formed near $44,699 and the price started a sharp downside correction. There was a move below the $44,000 level. Besides, there was a break below a key bullish trend line with support near $43,500 on the hourly chart of the BTC\/USD pair. The pair declined below the 50% Fib retracement level of the upward move from the $39,398 swing low to the $44,699 high. Bitcoin is now trading below $43,500 and the 100 hourly Simple moving average. However, the bulls are protecting the $40,000 support and the 76.4% Fib retracement level of the upward move from the $39,398 swing low to the $44,699 high. The price is attempting a recovery wave and facing resistance near the $42,400 level. Source: BTCUSD on TradingView.com The first major resistance is forming near $43,2000, above which the price might gain bullish momentum and rise toward $44,000. A close above the $44,000 resistance might start a strong upward move. The next key resistance could be near $44,200, above which BTC could rise toward the $45,000 level. $40K Is The Key For BTC If Bitcoin fails to rise above the $43,200 resistance zone, it could start another decline. Immediate support on the downside is near the $41,200 level. The next major support is near $40,500, below which the price might test the $40,000 zone. If there is a move below $40,000, there is a risk of more downsides. In the stated case, the price could drop toward the $38,500 support in the near term. 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 30 level. Major Support Levels \u2013 $41,200, followed by $40,000. Major Resistance Levels \u2013 $42,400, $43,200, and $44,200.<\/p>\n","protected":false},"author":67,"featured_media":464763,"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":[428,679,1144,78790,76835],"class_list":["post-564817","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n<title>Bitcoin Price Crashes 8% and Wipes Weekly Gains, Dips Supported?<\/title>\n<meta name=\"description\" content=\"Bitcoin price started a sharp decline after trading close to $45,000. 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