BTCUSD on TradingView.com<\/a><\/p>\nThe first major resistance is $46,800. A clear move above the $46,800 resistance could send the price toward the $47,200 resistance. The next resistance is now forming near the $48,000 level. A close above the $48,000 level could send the price further higher. The next major resistance sits at $49,250.<\/p>\n
More Losses In BTC?<\/h2>\n If Bitcoin fails to rise above the $46,800 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $45,550 level.<\/p>\n
The next major support is $45,200. If there is a move below $45,200, the price could gain bearish momentum. In the stated case, the price could drop toward the $44,800 support in the near term.<\/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 below the 50 level.<\/p>\n
Major Support Levels \u2013 $45,500, followed by $45,200.<\/p>\n
Major Resistance Levels \u2013 $46,400, $46,800, and $47,200.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price jumped toward $48,000 after the hacked SEC account tweet. BTC trimmed all gains, but the uptrend support is still intact near $45,200. Bitcoin spiked toward the $47,800 and $48,000 resistance levels. The price is trading above $45,500 and the 100 hourly Simple moving average. There is a major contracting triangle forming with resistance near $46,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could continue to move up toward the $48,000 level unless there is a close below $45,000. Bitcoin Price Faces Rejection Bitcoin price started a fresh increase above the $45,500 resistance zone. BTC gained bullish momentum above the $46,000 and $46,500 levels after the hacked SEC account tweet about the ETF approval. After clarification, there was a sharp rejection near the $48,000 zone. A high was formed near $47,988 before the price started a fresh decline. There was a move below the $47,000 and $46,500 levels. The price dived toward the $45,000 support. A low was formed near $44,828 and the price is now rising. It is back above the 23.6% Fib retracement level of the recent decline from the $47,988 swing high to the $44,828 low. Bitcoin is now trading above $45,500 and the 100 hourly Simple moving average. There is also a major contracting triangle forming with resistance near $46,800 on the hourly chart of the BTC\/USD pair. On the upside, immediate resistance is near the $465,400 level. It is near the 50% Fib retracement level of the recent decline from the $47,988 swing high to the $44,828 low. Source: BTCUSD on TradingView.com The first major resistance is $46,800. A clear move above the $46,800 resistance could send the price toward the $47,200 resistance. The next resistance is now forming near the $48,000 level. A close above the $48,000 level could send the price further higher. The next major resistance sits at $49,250. More Losses In BTC? If Bitcoin fails to rise above the $46,800 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $45,550 level. The next major support is $45,200. If there is a move below $45,200, the price could gain bearish momentum. In the stated case, the price could drop toward the $44,800 support in the near term. 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 below the 50 level. Major Support Levels \u2013 $45,500, followed by $45,200. Major Resistance Levels \u2013 $46,400, $46,800, and $47,200.<\/p>\n","protected":false},"author":67,"featured_media":459185,"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-568814","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
Bitcoin Price Rejects 48K After The SEC Drama But Uptrend Still Intact<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n