Bitcoin failed again to clear the $45,500 resistance zone against the US Dollar. BTC is declining and remains at a risk of more losses below $42,500.

• Bitcoin attempted another upside break above $45,500 but failed.
• The price is trading below $43,500 and the 100 hourly simple moving average.
• There was a break below a key bullish trend line with support near $43,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could decline sharply if there is a clear move below the $42,500 support zone.

Bitcoin Price Corrects Gains

Bitcoin price attempted an upside break above the $45,500 resistance zone. However, BTC struggled to gain pace above the $45,500 level. A high was formed near $45,900 and the price started a fresh decline.

The price moved below the $45,000 and $44,500 support levels. Besides, there was a break below a key bullish trend line with support near $43,500 on the hourly chart of the BTC/USD pair. The pair is now trading below $43,500 and the 100 hourly simple moving average.

Bitcoin is now finding bids near the $42,600 level. A low is formed near $42,664 and the price is now consolidating losses. An immediate resistance is near the $43,450 level. It is near the 23.6% Fib retracement level of the recent decline from the $45,900 high to $42,664 low.

The first major resistance is near the $44,000 level and the 100 hourly simple moving average. The next key resistance is near the $44,250 level. It is near the 50% Fib retracement level of the recent decline from the $45,900 high to $42,664 low.

Source: BTCUSD on TradingView.com

A clear upside break above the $44,250 level might open the doors for more upsides. The main resistance on the upside is still near the $45,500 level.

More Losses in BTC?

If bitcoin fails to start a fresh increase above $44,250, it could continue to move down. An immediate support on the downside is near the $42,600 zone.

The next major support is seen near the $42,500 level. If there is a downside break below the $42,500 support, the price could start a major decline towards the $41,200 level.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $42,500, followed by $41,200.

Major Resistance Levels – $44,000, $44,250 and $45,500.

Source

Bitcoin remained well supported near the $42,700 support zone against the US Dollar. BTC is rising and might accelerate higher above $44,850 in the near term.

• Bitcoin is holding gains, but it is still well below the $45,000 resistance zone.
• The price is trading above $43,000 and the 100 hourly simple moving average.
• There is a key rising channel forming with support near $44,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could decline sharply if there is a clear move below the 100 hourly SMA.

Bitcoin Price Aims Fresh Increase

Bitcoin price started a downside correction below the $44,000 level. BTC even declined below the $43,000 level, but the bulls appeared near the $42,700 zone.

The price also remained stable above $42,500 and the 100 hourly simple moving average. A low was formed near $42,709 and the price started a fresh increase. There was a clear move above the $43,200 and $43,500 resistance levels.

Besides, the price climbed above the 50% Fib retracement level of the downward move from the $45,500 swing high to $42,709 low.

There is also a key rising channel forming with support near $44,000 on the hourly chart of the BTC/USD pair. Bitcoin price is now trading above $42,000 and the 100 hourly simple moving average. On the upside, an immediate resistance is near the $44,500 level.

Source: BTCUSD on TradingView.com

The next major resistance is near the $44,850 zone or the 76.4% Fib retracement level of the downward move from the $45,500 swing high to $42,709 low, above which the price may perhaps rally above $45,000. In the stated case, the price could continue to rise towards the $46,500 level.

Downside Break in BTC?

If bitcoin fails to start a fresh increase above $44,850, it could continue to move down. An immediate support on the downside is near the $44,000 zone.

The next major support is seen near the $43,500 level and the 100 hourly simple moving average. If there is a downside break below the $43,500 support, the price could start a major decline towards the $41,200 level.

Technical indicators:

Hourly MACD – The MACD is slowly moving into the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now near the 50 level.

Major Support Levels – $44,000, followed by $43,500.

Major Resistance Levels – $44,850, $45,000 and $45,500.

Source

Bitcoin extended increase above the $44,000 resistance zone against the US Dollar. BTC is correcting gains and might decline further if it breaks the $42,800 support.

• Bitcoin extended gains and even climbed above the $45,000 resistance zone.
• The price is trading above $42,500 and the 100 hourly simple moving average.
• There was a break below a key bullish trend line with support near $44,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could extend decline if there is a clear move below the $42,800 support zone.

Bitcoin Price Corrects Lower

Bitcoin price remained in a positive zone above the $42,000 level. BTC gained pace for a move above the $44,000 and $44,500 levels. It even surpassed the $45,000 level and settled above the 100 hourly simple moving average.

It traded as high as $45,500 and recently started a downside correction. There was a move below the $44,000 support level. Besides, there was a break below a key bullish trend line with support near $44,000 on the hourly chart of the BTC/USD pair.

The pair even declined below the 50% Fib retracement level of the upward move from the $41,140 swing low to $45,500 high. However, the bulls defended the $42,800 support zone.

The 61.8% Fib retracement level of the upward move from the $41,140 swing low to $45,500 high also acted as a strong support. Bitcoin price is now trading above $42,500 and the 100 hourly simple moving average. On the upside, an immediate resistance is near the $44,000 level.

Source: BTCUSD on TradingView.com

There is also a connecting bearish trend line with resistance near $44,000 on the same chart. The next major resistance is near the $44,450 zone, above which the price may perhaps start a fresh increase in the near term.

Downside Break in BTC?

If bitcoin fails to start a fresh increase above $44,000, it could continue to move down. An immediate support on the downside is near the $42,800 zone.

The next major support is seen near the $42,500 level and the 100 hourly simple moving average. If there is a downside break below the $42,500 support, the price could slide towards the $41,200 level.

Technical indicators:

Hourly MACD – The MACD is now gaining momentum in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $42,800, followed by $42,500.

Major Resistance Levels – $44,000, $44,450 and $45,500.

Source

Bitcoin gained pace above the $42,000 resistance zone against the US Dollar. BTC is now surging and might even surpass the $45,000 resistance zone in the near term.

• Bitcoin started a strong increase above the $42,000 resistance zone.
• The price is trading well above $42,000 and the 100 hourly simple moving average.
• There is a connecting bullish trend line forming with support near $43,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could continue to rise if it clears the $44,500 resistance zone in the near term.

Bitcoin Price Rallies 5%

Bitcoin price gained bullish momentum after there was a close above the $40,000 level. BTC even cleared the $42,000 resistance zone to move further into a positive zone.

The recent upward move gained pace above the $43,000 level. Finally, the price spiked above the $44,000 level and settled above the 100 hourly simple moving average. A high is formed near $44,528 and the price is now consolidating gains.

It is trading above the 23.6% Fib retracement level of the recent increase from the $41,141 swing low to $44,528 high. There is also a connecting bullish trend line forming with support near $43,500 on the hourly chart of the BTC/USD pair.

Source: BTCUSD on TradingView.com

On the upside, an immediate resistance is near the $44,500 level. The next major resistance is near the $45,000 zone. A clear upside break above the $45,000 resistance level could spark additional gain. In the stated case, the price could even rise towards the $46,500 resistance zone.

Dips Supported in BTC?

If bitcoin fails to start a fresh increase above $44,500, it could start a downside correction. An immediate support on the downside is near the $43,750 zone and the trend line. The first major support is seen near the $43,000 zone.

It is near the 50% Fib retracement level of the recent increase from the $41,141 swing low to $44,528 high. If there is a downside break below the $43,000 support, the price could slide towards the $41,200 support and the 100 hourly simple moving average.

Technical indicators:

Hourly MACD – The MACD is now gaining momentum in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 60 level.

Major Support Levels – $43,500, followed by $43,000.

Major Resistance Levels – $44,500, $45,000 and $46,500.

Source

Bitcoin settled above the $40,000 level against the US Dollar. BTC is now rising and could accelerate further above the $42,650 resistance zone.

• Bitcoin started a strong increase above the $40,000 resistance zone.
• The price is trading well above $40,000 and the 100 hourly simple moving average.
• There is a key bullish trend line forming with support near $41,600 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could continue to rise if it clears the $42,650 resistance zone in the near term.

Bitcoin Price Gains Bullish Momentum

Bitcoin price started a major increase after there was a close above the $38,500 level. BTC gained bullish momentum and was able to surpass the $40,000 zone and the 100 hourly simple moving average.

The upward move was such that the price even rallied above the $41,200 resistance. It traded as high as $42,694 and is currently consolidating gains. It seems like the price is preparing for the next move and trading well above the 100 hourly simple moving average.

Besides, there is key bullish trend line forming with support near $41,600 on the hourly chart of the BTC/USD pair. The pair is also trading well above the 23.6% Fib retracement level of the upward move from the $37,324 swing low to $42,694 high.

Source: BTCUSD on TradingView.com

An immediate resistance is near the $42,650 level. The next major resistance is near the $43,200 zone. A clear upside break above the $43,200 resistance level could spark another increase. In the stated case, the price could even test the $45,000 resistance zone.

Dips Limited in BTC?

If bitcoin fails to start a fresh increase above $42,650, it could a downside correction. An immediate support on the downside is near the $41,600 zone. The first major support is seen near the $40,000 zone.

It is near the 50% Fib retracement level of the upward move from the $37,324 swing low to $42,694 high. Any more losses might call for a move towards the $39,500 support zone and the 100 hourly simple moving average. If the bulls fail to protect $39,500, there could be a sharp decline in the near term.

Technical indicators:

Hourly MACD – The MACD is now gaining momentum in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $41,600, followed by $40,000.

Major Resistance Levels – $42,650, $43,200 and $45,000.

Source

Bitcoin failed to test the $40,000 resistance zone against the US Dollar. BTC is now declining and might slide towards the $36,000 support zone.

• Bitcoin started a fresh decline after it failed to clear the $39,250 resistance zone.
• The price is now trading below $38,000 and the 100 hourly simple moving average.
• There was a break below a major bullish trend line with support near $37,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could continue to decline towards the $36,000 support or even $35,500.

Bitcoin Price Tops Below $40K

Bitcoin price attempted a move towards the $40,000 resistance zone. However, BTC failed to gain pace above the $39,250 zone. A high was formed near $39,290 and the price started a fresh decline.

There was a clear move below the $38,000 support level and the 100 hourly simple moving average. Besides, there was a break below a major bullish trend line with support near $37,500 on the hourly chart of the BTC/USD pair.

The pair traded below the 76.4% Fib retracement level of the key move from the $36,665 swing low to $39,290 high. It is now showing a few bearish signs below the $37,000 level. On the upside, an initial resistance is near the $37,200 level.

Source: BTCUSD on TradingView.com

The first major resistance is near the $37,500 zone. The main hurdle is now forming near the $38,000 zone and the 100 hourly simple moving average (the recent breakdown zone). A clear move above the $38,000 resistance could start a fresh increase. In the stated case, the price could revisit the $39,250 level.

More Losses in BTC?

If bitcoin fails to start a fresh increase above $38,000, it could continue to move down. An immediate support on the downside is near the $36,650 zone.

The first major support is seen near the $36,000 zone. It is near the 1.236 Fib extension level of the key move from the $36,665 swing low to $39,290 high. Any more losses might call for a move towards the $35,500 support zone in the near term. A downside break below the $35,500 support zone may perhaps call for a drop to $33,200.

Technical indicators:

Hourly MACD – The MACD is now gaining momentum in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is well below the 50 level.

Major Support Levels – $36,000, followed by $35,500.

Major Resistance Levels – $37,500, $38,000 and $39,250.

Source

Bitcoin is attempting an upside break above the $38,800 resistance zone against the US Dollar. BTC could rally further unless it fails to stay above $37,400.

• Bitcoin started a fresh increase and was able to clear the $38,000 resistance zone.
• The price is now trading above $37,500 and the 100 hourly simple moving average.
• There was a break above a major bearish trend line with resistance near $37,450 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could continue to rise if there is a clear move above the $38,800 resistance zone.

Bitcoin Price Starts Fresh Increase

Bitcoin price corrected lower below the $38,000 pivot level. BTC even traded below $37,000, but the bulls were active near the $37,650. A low was formed near $36,667 and the price started a fresh increase.

There was a clear move above the $37,500 resistance zone and the 100 hourly simple moving average. Besides, there was a break above a major bearish trend line with resistance near $37,450 on the hourly chart of the BTC/USD pair.

The pair surged above the $38,000 resistance zone. A high is formed near $38,786, and bitcoin is now facing a major resistance near the $38,800 zone.

It is currently trading near the 23.6% Fib retracement level of the upward move from the $36,667 swing low to $38,786 high. On the upside, an initial resistance is near the $38,500 level.

Source: BTCUSD on TradingView.com

The first major resistance is near the $38,800 zone. A clear move above the $38,800 zone could push the price further higher. The next key resistance is near the $39,500 zone. If the bulls able to clear the $39,500 level, the price may perhaps clear the $40,000 resistance zone.

Downsides Limited in BTC?

If bitcoin fails to start a fresh increase above $38,800, it could start a downside correction. An immediate support on the downside is near the $38,000 zone.

The first major support is seen near the $37,750 zone. It is near the 50% Fib retracement level of the upward move from the $36,667 swing low to $38,786 high. A downside break below the $37,500 support zone may perhaps push the price towards the $37,000 support zone.

Technical indicators:

Hourly MACD – The MACD is now losing momentum in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $37,500, followed by $37,000.

Major Resistance Levels – $38,500, $38,800 and $40,000.

Source

Bitcoin struggled to clear the $38,800 resistance zone against the US Dollar. BTC is moving lower and might decline below the $35,000 support level.

• Bitcoin started an upside correction but failed to clear the $38,800 resistance zone.
• The price is now trading below $37,500 and the 100 hourly simple moving average.
• There was a break below a key bullish trend line with support near $37,650 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could continue to move down if it stays below the $38,000 resistance zone.

Bitcoin Price Starts Fresh Decrease

Bitcoin price recovered above the $37,000 resistance zone. BTC even climbed above the $38,000 resistance zone and the 100 hourly simple moving average.

However, the price failed to clear the $38,800 resistance zone. A high was formed near $38,719 and the price started a fresh decline. There was a move below the $38,000 support level. The bears pushed the price below the 50% Fib retracement level of the upward move from the $35,561 swing low to $38,719 high.

Besides, there was a break below a key bullish trend line with support near $37,650 on the hourly chart of the BTC/USD pair. The pair traded below $37,200 and the 100 hourly simple moving average.

It is now testing the $36,800 support zone. The stated level is near the 61.8% Fib retracement level of the upward move from the $35,561 swing low to $38,719 high. On the upside, an initial resistance is near the $37,400 level and the 100 hourly SMA.

Source: BTCUSD on TradingView.com

The first major resistance is near the $38,000 zone. The main resistance is still near the $38,800 zone. An upside break above the $38,800 resistance could start a steady upward move. The next key resistance is near the $40,000 level, above which the bulls might gain strength.

More Losses in BTC?

If bitcoin fails to start a fresh increase above $38,000, it could continue to move down. An immediate support on the downside is near the $36,000 zone.

The first major support is seen near the $35,500 zone. A downside break below the $35,500 support zone may perhaps push the price towards the $34,000 support zone.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $36,500, followed by $35,500.

Major Resistance Levels – $37,400, $38,000 and $38,800.

Source