{"id":461817,"date":"2021-04-21T03:08:43","date_gmt":"2021-04-21T03:08:43","guid":{"rendered":"https:\/\/ktsl888.com\/?p=461817"},"modified":"2024-06-11T13:55:08","modified_gmt":"2024-06-11T13:55:08","slug":"bitcoin-struggles-below-57k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-struggles-below-57k\/","title":{"rendered":"TA: Bitcoin Struggles Below $57K, Here\u2019s Why 100 SMA Holds The Key"},"content":{"rendered":"<p><em>Bitcoin price is holding the $55,000 support zone against the US Dollar. BTC must clear the $57,000 resistance and the 100 hourly SMA to move into a positive zone.<\/em><\/p>\n<ul>\n<li>Bitcoin is somehow holding the $55,000 and $54,500 support levels.<\/li>\n<li>The price is now facing a strong resistance near $57,500 and the 100 hourly simple moving average.<\/li>\n<li>There was a break above a major declining channel with resistance near $55,250 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could start a strong increase if there is a clear break above the $57,500 resistance zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price is Facing Hurdles<\/h2>\n<p>Bitcoin remained below the main $57,500 resistance zone. BTC declined below the $55,000 support, but it found support near the $53,400 zone. A low was formed near $53,338 before the price started a fresh increase.<\/p>\n<p>It broke the $54,500 and $55,000 resistance levels. There was also a break above a major declining channel with resistance near $55,250 on the hourly chart of the BTC\/USD pair. The pair even climbed above $57,000, but it failed to clear the <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-primed-to-revisit-52k\/\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>.<\/p>\n<p>A high is formed near $57,150 and the price is now correcting lower. It traded close to the 50% Fib retracement level of the upward move from the $53,338 low to $57,151 high.<\/p>\n<p><a href=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/04\/Bitcoin-16.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-461818\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/04\/Bitcoin-16.png?resize=1828%2C867\" alt=\"Bitcoin Price\" width=\"1828\" height=\"867\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/04\/Bitcoin-16.png?w=1828 1828w, https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/04\/Bitcoin-16.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/04\/Bitcoin-16.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/04\/Bitcoin-16.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/04\/Bitcoin-16.png?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/04\/Bitcoin-16.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/04\/Bitcoin-16.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<pre>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/pre>\n<p>On the upside, the price is facing a <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-nosedives-5k\/\" target=\"_blank\" rel=\"noopener \">strong resistance<\/a> near the $57,100 and $57,500 levels. The 100 hourly simple moving average is also near the $57,500 level to act as a hurdle. A successful break above the $57,500 resistance is must to start a strong increase in the coming sessions.<\/p>\n<h2>Dips Supported in BTC?<\/h2>\n<p>If bitcoin fails to clear the $57,000 and $57,500 resistance levels, it could correct lower. An immediate support on the downside is near the $55,200 level.<\/p>\n<p>The first key support is near the $54,800 level. It is near the 61.8% Fib retracement level of the upward move from the $53,338 low to $57,151 high. Any more losses may possibly call for a retest of the $53,350 zone in the near term.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is struggling to gain momentum in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now close to the 50 level.<\/p>\n<p>Major Support Levels \u2013 $55,200, followed by $54,800.<\/p>\n<p>Major Resistance Levels \u2013 $56,500, $57,100 and $57,500.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is holding the $55,000 support zone against the US Dollar. BTC must clear the $57,000 resistance and the 100 hourly SMA to move into a positive zone. Bitcoin is somehow holding the $55,000 and $54,500 support levels. The price is now facing a strong resistance near $57,500 and the 100 hourly simple moving average. There was a break above a major declining channel with resistance near $55,250 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start a strong increase if there is a clear break above the $57,500 resistance zone. Bitcoin Price is Facing Hurdles Bitcoin remained below the main $57,500 resistance zone. BTC declined below the $55,000 support, but it found support near the $53,400 zone. A low was formed near $53,338 before the price started a fresh increase. It broke the $54,500 and $55,000 resistance levels. There was also a break above a major declining channel with resistance near $55,250 on the hourly chart of the BTC\/USD pair. The pair even climbed above $57,000, but it failed to clear the 100 hourly simple moving average. A high is formed near $57,150 and the price is now correcting lower. It traded close to the 50% Fib retracement level of the upward move from the $53,338 low to $57,151 high. Source: BTCUSD on TradingView.com On the upside, the price is facing a strong resistance near the $57,100 and $57,500 levels. The 100 hourly simple moving average is also near the $57,500 level to act as a hurdle. A successful break above the $57,500 resistance is must to start a strong increase in the coming sessions. Dips Supported in BTC? If bitcoin fails to clear the $57,000 and $57,500 resistance levels, it could correct lower. An immediate support on the downside is near the $55,200 level. The first key support is near the $54,800 level. It is near the 61.8% Fib retracement level of the upward move from the $53,338 low to $57,151 high. Any more losses may possibly call for a retest of the $53,350 zone in the near term. Technical indicators: Hourly MACD \u2013 The MACD is struggling to gain momentum in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now close to the 50 level. Major Support Levels \u2013 $55,200, followed by $54,800. Major Resistance Levels \u2013 $56,500, $57,100 and $57,500.<\/p>\n","protected":false},"author":67,"featured_media":461819,"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-461817","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<title>TA: Bitcoin Struggles Below $57K, Here\u2019s Why 100 SMA Holds The Key<\/title>\n<meta name=\"description\" content=\"Bitcoin price is holding the $55,000 support zone against the US Dollar. 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