TA: Bitcoin Struggles To Hold Key Support, What Could Trigger More Downsides

2021-8-17 06:08

Bitcoin price failed to clear $48,000 and corrected lower against the US Dollar. BTC is likely to extend its decline if it breaks the $45,000 support zone.

Bitcoin started a fresh decline after it failed to clear the $48,000 resistance. The price is now trading below $47,000 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $46,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to extend its decline if it fails to stay above the $45,000 support. Bitcoin Price Corrects Lower

Bitcoin price made another attempt to clear the $48,000 resistance zone. However, BTC struggled to gain strength, resulting in a bearish reaction below the $47,000 support zone.

The price declined below the $46,500 support level and the 100 hourly simple moving average. There was also a break below a key bullish trend line with support near $46,400 on the hourly chart of the BTC/USD pair.

The pair spiked below the $45,500 support level, but it remained above $45,000. A low is formed near $45,288 and the price is now consolidating losses. It corrected above the $46,000 level. There was a break above the 23.6% Fib retracement level of the recent decline from the $48,080 swing high to $45,288 low.

On the upside, an immediate resistance is near the $46,500 level. The first key resistance is near the $46,750 level and the 100 hourly simple moving average.

Source: BTCUSD on TradingView.com

The 50% Fib retracement level of the recent decline from the $48,080 swing high to $45,288 low is also near the $46,685 level. If bitcoin clears the $46,700 and $47,000 resistance levels, it could revisit the $48,000 resistance zone in the near term.

More Losses in BTC?

If bitcoin fails to climb above the $46,700 and $47,000 resistance levels, it could extend its decline. An initial support on the downside is near the $45,500 level.

The first major support is now near the $45,200 zone. The main support is now forming near the $45,000 level. If the price fails to stay above the $45,000 support, it could move down towards the $43,200 support level.

Technical indicators:

Hourly MACD – The MACD is losing pace in the bearish zone.

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

Major Support Levels – $45,200, followed by $45,000.

Major Resistance Levels – $46,500, $46,700 and $47,000.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 98543.35 (+0.02%)
Объем 24H $66.75b
Изменеия 24h: -0.17 %, 7d: 7.84 %
Cегодня L: $98439.13 - H: $99414.82
Капитализация $1949.803b Rank 1
Цена в час новости $ 45920.51 (114.6%)

bitcoin clear decline failed support extend likely

Источник: newsbtc.com

bitcoin clear → Результатов: 126


Фото:

Binance’s Blockchain Charity Foundation Partners With United Nations Development Programme to Use Blockchain for Social Good

As new use cases of the blockchain technology are emerging each day, it is becoming increasingly clear that distributed ledgers could help in creating a better future for all. The United National Development Programme (UNDP) also seems convinced that DLT infrastructures could bring good to the world.

2018-9-25 10:34


Фото:

Europol: Terrorists Still Use Banks, Fail To Abuse Cryptocurrencies

A new assessment by Europol this week reveals a growing schism between the use of cryptocurrencies by terrorists and other criminals. No European Terrorist Attacks Leveraged Crypto Funds In its Internet Organized Crime Threat Assessment (IOCTA), the organization highlights that while the use of Bitcoin in particular by cybercriminals is growing, terrorists still prefer conventional money transfer methods — banks and wire transfers.

2018-9-21 00:00


Фото:

A South African Township Is Becoming the New Gold Mine for Bitcoin

In several African nations, sending money to friends and family is difficult. Using bank accounts could be easy, but it takes days, sometimes even weeks, for transactions to clear. A new CNBC documentary is exploring the nuances of this emerging market and how exactly it is used to make the underbanked communities of the continent […] A South African Township Is Becoming the New Gold Mine for Bitcoin was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2018-8-28 21:28


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru