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{"id":456454,"date":"2021-02-11T03:18:55","date_gmt":"2021-02-11T03:18:55","guid":{"rendered":"https:\/\/wncen.com\/?p=456454"},"modified":"2024-06-11T14:13:16","modified_gmt":"2024-06-11T14:13:16","slug":"bitcoin-corrects-lower-44000","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-corrects-lower-44000\/","title":{"rendered":"TA: Bitcoin Corrects Lower, Why 100 SMA Is The Key For Fresh Increase"},"content":{"rendered":"

Bitcoin price started a downside correction below $46,000 against the US Dollar. BTC is now consolidating above the $43,800 support and the 100 hourly SMA.<\/em><\/p>\n

\n
Bitcoin failed to stay above the $47,000 level and corrected below $46,000.<\/li>\n
The price is holding the $44,000 level and the 100 hourly simple moving average.<\/li>\n
There was a break below a key contracting triangle pattern with support near $46,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair is likely to start a fresh increase if it stays above $43,000 and the 100 hourly SMA.<\/li>\n<\/ul>\n
Bitcoin Price is Showing a Few Bearish Signs<\/h2>\n
After struggling to climb back above $47,000, bitcoin price started a downside correction<\/a>. BTC traded below the $46,000 support level to move into a short-term bearish zone.<\/p>\n
There was also a break below a key contracting triangle pattern with support near $46,000 on the hourly chart of the BTC\/USD pair. The pair even traded below the $45,000 and $44,450 levels. A low is formed near $43,748 and the price is currently consolidating losses.<\/p>\n
An initial resistance on the upside<\/a> is near the $45,500 level. It is close to the 50% Fib retracement level recent decline from the $47,356 high to $43,748 low.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
The next major resistance is near the $46,000 level (the recent breakdown zone). The 61.8% Fib retracement level recent decline from the $47,356 high to $43,748 low is also near the $46,000 level. A successful break above the $46,000 resistance level is likely to start a fresh increase in the near term.<\/p>\n
The next major resistance is near the $47,000 level. Any more gains could open the doors for a push towards the $48,000 level.<\/p>\n
Dips Supported in BTC?<\/h2>\n
If bitcoin fails to continue higher, it could correct further lower below the $44,000 level. The first major support is near the $43,750 level.<\/p>\n
The main support is now forming near the $43,000 level or the 100 hourly simple moving average. Any more losses below the $43,000 may possibly lead the price towards the $41,000 support level in the near term.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is slowly losing momentum 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 $43,750, followed by $43,000.<\/p>\n
Major Resistance Levels \u2013 $45,500, $46,000 and $47,000.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price started a downside correction below $46,000 against the US Dollar. BTC is now consolidating above the $43,800 support and the 100 hourly SMA. Bitcoin failed to stay above the $47,000 level and corrected below $46,000. The price is holding the $44,000 level and the 100 hourly simple moving average. There was a break below a key contracting triangle pattern with support near $46,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is likely to start a fresh increase if it stays above $43,000 and the 100 hourly SMA. Bitcoin Price is Showing a Few Bearish Signs After struggling to climb back above $47,000, bitcoin price started a downside correction. BTC traded below the $46,000 support level to move into a short-term bearish zone. There was also a break below a key contracting triangle pattern with support near $46,000 on the hourly chart of the BTC\/USD pair. The pair even traded below the $45,000 and $44,450 levels. A low is formed near $43,748 and the price is currently consolidating losses. An initial resistance on the upside is near the $45,500 level. It is close to the 50% Fib retracement level recent decline from the $47,356 high to $43,748 low. The next major resistance is near the $46,000 level (the recent breakdown zone). The 61.8% Fib retracement level recent decline from the $47,356 high to $43,748 low is also near the $46,000 level. A successful break above the $46,000 resistance level is likely to start a fresh increase in the near term. The next major resistance is near the $47,000 level. Any more gains could open the doors for a push towards the $48,000 level. Dips Supported in BTC? If bitcoin fails to continue higher, it could correct further lower below the $44,000 level. The first major support is near the $43,750 level. The main support is now forming near the $43,000 level or the 100 hourly simple moving average. Any more losses below the $43,000 may possibly lead the price towards the $41,000 support level in the near term. Technical indicators: Hourly MACD \u2013 The MACD is slowly losing momentum 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 $43,750, followed by $43,000. Major Resistance Levels \u2013 $45,500, $46,000 and $47,000.<\/p>\n","protected":false},"author":67,"featured_media":456456,"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-456454","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\nTA: Bitcoin Corrects Lower, Why 100 SMA Is The Key For Fresh Increase<\/title>\n<meta name=\"description\" content=\"Bitcoin price started a downside correction below $46,000. 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His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.","sameAs":["https:\/\/www.linkedin.com\/in\/aayush-jindal-358b6932\/","https:\/\/x.com\/twitter.com\/AayushJs"],"url":"https:\/\/wncen.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"TA: Bitcoin Corrects Lower, Why 100 SMA Is The Key For Fresh Increase","url":"http:\/\/wncen.com\/news\/bitcoin-corrects-lower-44000\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-corrects-lower-44000\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/02\/shutterstock_215569255.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/02\/shutterstock_215569255.jpg?fit=1000%2C665"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btcusd","btcusdt","xbtusd"],"dateCreated":"2021-02-11T03:18:55Z","datePublished":"2021-02-11T03:18:55Z","dateModified":"2024-06-11T14:13:16Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Bitcoin Corrects Lower, Why 100 SMA Is The Key For Fresh Increase\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-corrects-lower-44000\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-corrects-lower-44000\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/02\\\/shutterstock_215569255.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/02\\\/shutterstock_215569255.jpg?fit=1000%2C665\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btcusd\",\"btcusdt\",\"xbtusd\"],\"dateCreated\":\"2021-02-11T03:18:55Z\",\"datePublished\":\"2021-02-11T03:18:55Z\",\"dateModified\":\"2024-06-11T14:13:16Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/02\/shutterstock_215569255.jpg?fit=1000%2C665","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/456454","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=456454"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/456454\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/456456"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=456454"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=456454"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=456454"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}