{"id":471986,"date":"2021-09-20T03:08:33","date_gmt":"2021-09-20T03:08:33","guid":{"rendered":"https:\/\/ktsl888.com\/?p=471986"},"modified":"2024-06-11T13:58:45","modified_gmt":"2024-06-11T13:58:45","slug":"bitcoin-larger-degree-decline-46k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-larger-degree-decline-46k\/","title":{"rendered":"TA: Bitcoin Close Below $46K Could Spark Larger Degree Decline"},"content":{"rendered":"
Bitcoin price failed once again to clear the $48,500 resistance zone against the US Dollar. BTC is declining and it could even decline below the $46,200 support zone.<\/em><\/p>\n Bitcoin price made another attempt to clear the $48,500 resistance level<\/a>. BTC spiked above the $48,500 resistance, but it failed to continue higher. A high was formed near $48,750 and the price started a fresh decline.<\/p>\n There was a clear break below the $48,000 level and the 100 hourly simple moving average<\/a>. The price broke a connecting bullish trend line with support near $48,000 on the hourly chart. The last swing high was formed near $48,323 before the price declined below $47,500.<\/p>\n The bulls are now protecting the $46,800 support zone. A low is formed near $46,827 and bitcoin is now consolidating losses. An immediate resistance on the upside is near the $47,200 level. The 23.6% Fib retracement level of the recent decline from the $48,323 high to $46,827 low is also near the $47,200 level.<\/p>\n <\/a><\/p>\n The first major resistance sits near the $47,550 level. It is near the 50% Fib retracement level of the recent decline from the $48,323 high to $46,827 low. There is also a key bearish trend line forming with resistance near $48,100 on the hourly chart of the BTC\/USD pair.<\/p>\n To start another increase, the price must clear the $48,000 resistance. The next major resistance is near the $48,500 zone, above which the price could easily rise towards the key $50,000 resistance.<\/p>\n If bitcoin fails to clear the $48,000 resistance zone, it could extend its decline. An immediate support on the downside is near the $46,800 level.<\/p>\n The next major support is near the $46,280 zone. A downside break below the $46,200 zone could trigger a nasty decline towards the $45,000 level or even $43,800.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is slowly gaining 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 $46,800, followed by $46,280.<\/p>\n Major Resistance Levels \u2013 $47,550, $48,000 and $48,500.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin price failed once again to clear the $48,500 resistance zone against the US Dollar. BTC is declining and it could even decline below the $46,200 support zone. Bitcoin started a fresh decline after it failed to surpass the $48,500 resistance zone. The price is still trading below $47,500 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $48,100 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could continue lower if it fails to stay above the $46,800 support zone. Bitcoin Price Is Facing Hurdles Bitcoin price made another attempt to clear the $48,500 resistance level. BTC spiked above the $48,500 resistance, but it failed to continue higher. A high was formed near $48,750 and the price started a fresh decline. There was a clear break below the $48,000 level and the 100 hourly simple moving average. The price broke a connecting bullish trend line with support near $48,000 on the hourly chart. The last swing high was formed near $48,323 before the price declined below $47,500. The bulls are now protecting the $46,800 support zone. A low is formed near $46,827 and bitcoin is now consolidating losses. An immediate resistance on the upside is near the $47,200 level. The 23.6% Fib retracement level of the recent decline from the $48,323 high to $46,827 low is also near the $47,200 level. Source: BTCUSD on TradingView.com The first major resistance sits near the $47,550 level. It is near the 50% Fib retracement level of the recent decline from the $48,323 high to $46,827 low. There is also a key bearish trend line forming with resistance near $48,100 on the hourly chart of the BTC\/USD pair. To start another increase, the price must clear the $48,000 resistance. The next major resistance is near the $48,500 zone, above which the price could easily rise towards the key $50,000 resistance. More Losses In BTC? If bitcoin fails to clear the $48,000 resistance zone, it could extend its decline. An immediate support on the downside is near the $46,800 level. The next major support is near the $46,280 zone. A downside break below the $46,200 zone could trigger a nasty decline towards the $45,000 level or even $43,800. Technical indicators: Hourly MACD \u2013 The MACD is slowly 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 $46,800, followed by $46,280. Major Resistance Levels \u2013 $47,550, $48,000 and $48,500.<\/p>\n","protected":false},"author":67,"featured_media":459493,"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-471986","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 Is Facing Hurdles<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
More Losses In BTC?<\/h2>\n