{"id":566088,"date":"2023-12-20T03:13:19","date_gmt":"2023-12-20T03:13:19","guid":{"rendered":"https:\/\/ktsl888.com\/?p=566088"},"modified":"2024-06-11T14:43:29","modified_gmt":"2024-06-11T14:43:29","slug":"bitcoin-price-rejects-43-5k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-price-rejects-43-5k\/","title":{"rendered":"Bitcoin Price Rejects $43.5K, Why BTC Could Tumble In Short-Term"},"content":{"rendered":"<p><em>Bitcoin price attempted a fresh upside break above the $43,500 resistance. BTC failed and corrected lower to test the $41,800 support zone.<\/em><\/p>\n<ul>\n<li>Bitcoin is correcting gains from the $43,500 resistance zone.<\/li>\n<li>The price is trading above $42,000 and the 100 hourly Simple moving average.<\/li>\n<li>There is a connecting bearish trend line forming with resistance near $42,600 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could continue to move down if there is a move below the $41,650 support.<\/li>\n<\/ul>\n<h2>Bitcoin Price Drops Again<\/h2>\n<p>Bitcoin price gained pace above the $42,000 resistance zone. BTC even climbed above the $43,000 level, but it faced a strong rejection near $43,500. It seems like the price failed again to clear the <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-rallies-43500\/\" target=\"_blank\" rel=\"noopener \">$43,500 zone<\/a>.<\/p>\n<p>A high was formed near $43,464 and the price started a fresh decline. There was a move below the $42,800 and $42,500 support levels. The price even spiked below the 50% Fib retracement level of the upward wave from the $40,514 swing low to the $43,464 high.<\/p>\n<p>Bitcoin found support near the $41,800 level. It is now trading above $42,000 and the <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-drops-again-40k\/\" target=\"_blank\" rel=\"noopener \">100 hourly Simple moving average<\/a>. The price is also stable above the 61.8% Fib retracement level of the upward wave from the $40,514 swing low to the $43,464 high.<\/p>\n<p>On the upside, immediate resistance is near the $42,600 level. There is also a connecting bearish trend line forming with resistance near $42,600 on the hourly chart of the BTC\/USD pair.<\/p>\n<p><a href=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/Bitcoin-15.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-566089\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/Bitcoin-15.png?resize=1024%2C461\" alt=\"Bitcoin Price\" width=\"1024\" height=\"461\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/Bitcoin-15.png?w=1835 1835w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/Bitcoin-15.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/Bitcoin-15.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/Bitcoin-15.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/Bitcoin-15.png?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/Bitcoin-15.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/Bitcoin-15.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 $43,000. The main resistance is still near the $43,500 zone. A close above the $43,500 resistance might start a steady increase. The next key resistance could be near $44,500, above which BTC could rise toward the $45,000 level.<\/p>\n<h2>More Losses In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $42,650 resistance zone, it could continue to move down. Immediate support on the downside is near the $42,000 level.<\/p>\n<p>The next major support is near $41,650. If there is a move below $41,650, there is a risk of more losses. In the stated case, the price could drop toward the $40,500 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 near the 50 level.<\/p>\n<p>Major Support Levels \u2013 $42,000, followed by $41,650.<\/p>\n<p>Major Resistance Levels \u2013 $42,650, $43,000, and $43,500.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price attempted a fresh upside break above the $43,500 resistance. BTC failed and corrected lower to test the $41,800 support zone. Bitcoin is correcting gains from the $43,500 resistance zone. The price is trading above $42,000 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with resistance near $42,600 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could continue to move down if there is a move below the $41,650 support. Bitcoin Price Drops Again Bitcoin price gained pace above the $42,000 resistance zone. BTC even climbed above the $43,000 level, but it faced a strong rejection near $43,500. It seems like the price failed again to clear the $43,500 zone. A high was formed near $43,464 and the price started a fresh decline. There was a move below the $42,800 and $42,500 support levels. The price even spiked below the 50% Fib retracement level of the upward wave from the $40,514 swing low to the $43,464 high. Bitcoin found support near the $41,800 level. It is now trading above $42,000 and the 100 hourly Simple moving average. The price is also stable above the 61.8% Fib retracement level of the upward wave from the $40,514 swing low to the $43,464 high. On the upside, immediate resistance is near the $42,600 level. There is also a connecting bearish trend line forming with resistance near $42,600 on the hourly chart of the BTC\/USD pair. Source: BTCUSD on TradingView.com The first major resistance is forming near $43,000. The main resistance is still near the $43,500 zone. A close above the $43,500 resistance might start a steady increase. The next key resistance could be near $44,500, above which BTC could rise toward the $45,000 level. More Losses In BTC? If Bitcoin fails to rise above the $42,650 resistance zone, it could continue to move down. Immediate support on the downside is near the $42,000 level. The next major support is near $41,650. If there is a move below $41,650, there is a risk of more losses. In the stated case, the price could drop toward the $40,500 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 near the 50 level. Major Support Levels \u2013 $42,000, followed by $41,650. Major Resistance Levels \u2013 $42,650, $43,000, and $43,500.<\/p>\n","protected":false},"author":67,"featured_media":461535,"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-566088","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 Rejects $43.5K, Why BTC Could Tumble In Short-Term<\/title>\n<meta name=\"description\" content=\"Bitcoin price attempted a fresh upside break above the $43,500 resistance. 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