TA: Bitcoin Turns Lower, Why BTC Could Extend Losses Below $42.5K

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.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

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.

Bitcoin Price

Get 110 USDT Futures Bonus for FREE!
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

Tagged : / / / / / /

TA: Bitcoin Holds Uptrend Support, Why 100 SMA Is The Key

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.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

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.

Bitcoin Price

Get 110 USDT Futures Bonus for FREE!
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

Tagged : / / / / / /

TA: Why Bitcoin is At Risk of Drop Below $42,500 In Short-term

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.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

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.

Bitcoin Price

Get 110 USDT Futures Bonus for FREE!
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

Tagged : / / / / / /

TA: Bitcoin is Surging, Why Bulls Could Aim More Upsides

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.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

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.

Bitcoin Price

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.

Get 110 USDT Futures Bonus for FREE!

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

Tagged : / / / / / /

TA: Bitcoin Bulls Keeps Pushing, Why Rally Isn’t Over Yet

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.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

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.

Bitcoin Price

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.

Get 110 USDT Futures Bonus for FREE!

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

Tagged : / / / / / /

TA: Bitcoin Topside Bias Vulnerable If It Continues To Struggle Below $38K

Bitcoin stayed above the $36,000 support zone against the US Dollar. BTC is now rising, but it could face hurdles near $37,800 and $38,000.

  • Bitcoin started a decent recovery wave from the $36,400 zone.
  • The price is still trading below $38,000 and the 100 hourly simple moving average.
  • There is a key bearish trend line forming with resistance near $37,800 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair must clear $37,800 and $38,000 to start a steady increase in the near term.

Bitcoin Price Corrects Losses

Bitcoin price started a steady decline from well above the $38,000 level. BTC traded below the $37,000 level and settled below the 100 hourly simple moving average.

However, the bulls were active above the $36,000 and $36,200 levels. A low was formed near $36,300 and the price is now correcting losses. There was a clear move above the $37,000 resistance. The price climbed above the 23.6% Fib retracement level of the downward move from the $39,290 swing high to $36,300 low.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Bitcoin is now consolidating near the $37,500 level. It is still trading below $38,000 and the 100 hourly simple moving average. On the upside, an initial resistance is near the $37,600 level.

The first major resistance is near the $37,800 zone. There is also a key bearish trend line forming with resistance near $37,800 on the hourly chart of the BTC/USD. The trend line is near the 50% Fib retracement level of the downward move from the $39,290 swing high to $36,300 low.

Bitcoin Price

Get 110 USDT Futures Bonus for FREE!
Source: BTCUSD on TradingView.com

The 100 hourly simple moving average could also act as a hurdle near $37,800. A clear move above the trend line resistance and $38,000 could set the pace for a steady increase.

Fresh Decline in BTC?

If bitcoin fails to start a fresh increase above $38,000, it could start another decline. An immediate support on the downside is near the $37,000 zone.

The first major support is seen near the $36,300 zone. Any more losses might call for a move towards the $36,000 support zone. If the bulls fail to protect $36,000, 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 – $36,300, followed by $36,000.

Major Resistance Levels – $37,800, $38,000 and $39,250.

Source

Tagged : / / / / /

TA: Bitcoin Resumes Decline, Why Bulls Might Struggle In Near-term

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.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

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.

Bitcoin Price

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.

Get 110 USDT Futures Bonus for FREE!

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

Tagged : / / / / / /

TA: Bitcoin Lacks Momentum Above $38.5K, But Dips Likely To Be Limited

Bitcoin extended increase above the $38,800 resistance zone against the US Dollar. BTC is now struggling near $39,200 and might correct a few points.

  • Bitcoin started a fresh increase and was able to clear the $38,500 resistance zone.
  • The price is now trading above $38,000 and the 100 hourly simple moving average.
  • There is a key bullish trend line forming with support near $37,650 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could continue to rise if it stays above the $37,500 support zone in the near term.

Bitcoin Price Consolidates

Bitcoin price remained strong above the $37,500 pivot level. BTC extended increase and was able to clear the $38,500 resistance zone.

The price even spiked above the $39,000 level and settled above the 100 hourly simple moving average. A high is formed near the $39,290 level and the price is now consolidating gains. There was a minor decline below the $38,800 level.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Bitcoin traded below the 23.6% Fib retracement level of the recent increase from the $36,665 swing low to $39,290 high. However, it is trading above $38,000 and the 100 hourly simple moving average.

Bitcoin Price

Source: BTCUSD on TradingView.com

On the upside, an initial resistance is near the $38,800 level. The first major resistance is near the $39,200 zone. A clear move above the $39,200 zone might push the price towards the $40,000 resistance zone. Any more gains may perhaps open the doors for a larger increase in the coming sessions. The next major resistance above $40,000 might be near the $41,200 level.

Get 110 USDT Futures Bonus for FREE!

Downsides Limited in BTC?

If bitcoin fails to start a fresh increase above $39,200, it could start a downside correction. An immediate support on the downside is near the $38,500 zone.

The first major support is seen near the $38,000 zone. It is near the 50% Fib retracement level of the recent increase from the $36,665 swing low to $39,290 high. The main support is near the trend line and $37,500. A downside break below the $37,500 support zone may perhaps call for a sharp decline in the near term.

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 still above the 50 level.

Major Support Levels – $38,000, followed by $37,500.

Major Resistance Levels – $38,800, $39,200 and $40,000.

Source

Tagged : / / / / /

TA: Bitcoin Near Crucial Juncture: Why BTC Could Surge Further

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.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

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.

Bitcoin Price

Get 110 USDT Futures Bonus for FREE!
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

Tagged : / / / / / /

TA: Bitcoin Faces Hurdle, Why BTC Could Resume Downtrend

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.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

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.

Bitcoin Price

Get 110 USDT Futures Bonus for FREE!
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

Tagged : / / / / / /
Bitcoin (BTC) $ 27,257.30 1.65%
Ethereum (ETH) $ 1,907.40 2.50%
Litecoin (LTC) $ 95.48 1.60%
Bitcoin Cash (BCH) $ 114.78 1.25%