{"id":570056,"date":"2024-01-18T02:56:10","date_gmt":"2024-01-18T02:56:10","guid":{"rendered":"https:\/\/ktsl888.com\/?p=570056"},"modified":"2024-06-11T09:31:50","modified_gmt":"2024-06-11T09:31:50","slug":"bitcoin-price-faces-uphill-task-43500","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-price-faces-uphill-task-43500\/","title":{"rendered":"Bitcoin Price Faces Uphill Task, Risk of Additional Losses Below $42K Looms"},"content":{"rendered":"<p><em>Bitcoin price is still struggling below the $43,250 resistance zone. BTC remains at risk of more downsides if it stays below $43,500 for a long time.<\/em><\/p>\n<ul>\n<li>Bitcoin price is still trading in a range from the $41,500 zone.<\/li>\n<li>The price is trading below $43,250 and the 100 hourly Simple moving average.<\/li>\n<li>There was a break below a key rising channel with support near $42,880 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair is now at risk of more downsides below the $41,500 support zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Turns Red<\/h2>\n<p>Bitcoin price started a <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-signals-recovery-44000\/\" target=\"_blank\" rel=\"noopener \">consolidation phase<\/a> from the $41,500 zone. BTC recovered a few points, but the bears were active near the $43,250 and $43,500 levels.<\/p>\n<p>The last swing high was near $43,568 before the price started a fresh decline. There was a clear move below the $43,000 level. Besides, there was a break below a key rising channel with support near $42,880 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>Bitcoin is now trading below $43,250 and the <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-consolidates-43250\/\" target=\"_blank\" rel=\"noopener \">100 hourly Simple moving average<\/a>. It is again attempting a recovery wave above the $42,500 level.<\/p>\n<p>On the upside, the price is facing resistance near the $42,800 level. It is close to the 50% Fib retracement level of the recent decline from the $43,568 swing high to the $42,190 low. The first major resistance is $43,000. The main resistance is now forming near the $43,250 level.<\/p>\n<p><a href=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/01\/Bitcoin_843f2b.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-570057\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/01\/Bitcoin_843f2b.png?resize=1024%2C461\" alt=\"Bitcoin Price\" width=\"1024\" height=\"461\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/01\/Bitcoin_843f2b.png?w=1835 1835w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/01\/Bitcoin_843f2b.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/01\/Bitcoin_843f2b.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/01\/Bitcoin_843f2b.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/01\/Bitcoin_843f2b.png?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/01\/Bitcoin_843f2b.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/01\/Bitcoin_843f2b.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 76.4% Fib retracement level of the recent decline from the $43,568 swing high to the $42,190 low is also near $43,250. A clear move above the $43,250 resistance could send the price toward the $44,000 resistance. The next resistance is now forming near the $44,250 level. A close above the $44,250 level could push the price further higher. The next major resistance sits at $45,000.<\/p>\n<h2>More Losses In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $43,250 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $42,120 level.<\/p>\n<p>The next major support is $41,450. If there is a close below $41,450, the price could gain bearish momentum. In the stated case, the price could drop toward the $40,000 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 50 level.<\/p>\n<p>Major Support Levels \u2013 $42,120, followed by $41,450.<\/p>\n<p>Major Resistance Levels \u2013 $43,000, $43,250, and $44,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is still struggling below the $43,250 resistance zone. BTC remains at risk of more downsides if it stays below $43,500 for a long time. Bitcoin price is still trading in a range from the $41,500 zone. The price is trading below $43,250 and the 100 hourly Simple moving average. There was a break below a key rising channel with support near $42,880 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is now at risk of more downsides below the $41,500 support zone. Bitcoin Price Turns Red Bitcoin price started a consolidation phase from the $41,500 zone. BTC recovered a few points, but the bears were active near the $43,250 and $43,500 levels. The last swing high was near $43,568 before the price started a fresh decline. There was a clear move below the $43,000 level. Besides, there was a break below a key rising channel with support near $42,880 on the hourly chart of the BTC\/USD pair. Bitcoin is now trading below $43,250 and the 100 hourly Simple moving average. It is again attempting a recovery wave above the $42,500 level. On the upside, the price is facing resistance near the $42,800 level. It is close to the 50% Fib retracement level of the recent decline from the $43,568 swing high to the $42,190 low. The first major resistance is $43,000. The main resistance is now forming near the $43,250 level. Source: BTCUSD on TradingView.com The 76.4% Fib retracement level of the recent decline from the $43,568 swing high to the $42,190 low is also near $43,250. A clear move above the $43,250 resistance could send the price toward the $44,000 resistance. The next resistance is now forming near the $44,250 level. A close above the $44,250 level could push the price further higher. The next major resistance sits at $45,000. More Losses In BTC? If Bitcoin fails to rise above the $43,250 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $42,120 level. The next major support is $41,450. If there is a close below $41,450, the price could gain bearish momentum. In the stated case, the price could drop toward the $40,000 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 50 level. Major Support Levels \u2013 $42,120, followed by $41,450. Major Resistance Levels \u2013 $43,000, $43,250, and $44,000.<\/p>\n","protected":false},"author":67,"featured_media":549672,"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-570056","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 Faces Uphill Task, Risk of Additional Losses Below $42K Looms<\/title>\n<meta name=\"description\" content=\"Bitcoin price is still struggling below the $43,250 resistance zone. 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