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{"id":457685,"date":"2021-02-28T05:08:48","date_gmt":"2021-02-28T05:08:48","guid":{"rendered":"https:\/\/wncen.com\/?p=457685"},"modified":"2024-06-11T14:13:37","modified_gmt":"2024-06-11T14:13:37","slug":"bitcoin-price-could-decline-to-41k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-could-decline-to-41k\/","title":{"rendered":"Why Bitcoin Price Could Extend Its Decline To $41K, 100 SMA Holds The Key"},"content":{"rendered":"

Bitcoin price started a fresh decline after it failed to clear $52,000 against the US Dollar. BTC is sliding and it remains at a risk of a drop towards $41,000.<\/em><\/p>\n

\n
Bitcoin recovered above $50,000, but it struggled to clear the $52,000 resistance.<\/li>\n
The price is trading well below $50,000 and the 100 simple moving average (4-hours).<\/li>\n
There is a key declining channel forming with resistance near $49,220 on the 4-hours chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair is likely to continue lower towards the $41,000 and $40,000 support levels in the near term.<\/li>\n<\/ul>\n
Bitcoin Price is Showing Bearish Signs<\/h2>\n
This past week, bitcoin price extended its decline<\/a> below the $47,000 support zone against the US Dollar. The BTC\/USD pair even tested the $44,000 support zone and settled well below the 100 simple moving average (4-hours).<\/p>\n
The last rejection zone<\/a> was near the $52,000 level before the price declined below $45,000. It traded as low $44,360 before correcting higher. It recovered above the 23.6% Fib retracement level of the downward move from the $52,229 high to $44,360 low.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
However, the price struggled to clear the $48,000 resistance zone. It also failed to surpass the 50% Fib retracement level of the downward move from the $52,229 high to $44,360 low.<\/p>\n
There is also a key declining channel forming with resistance near $49,220 on the 4-hours chart of the BTC\/USD pair. Bitcoin is currently moving lower and it is likely to test the $44,000 support zone. If there is a downside break below the $44,000 support zone, there are chances of more downsides towards the $41,000 support zone. The next major support is near the $40,000 level.<\/p>\n
Upsides Capped in BTC?<\/h2>\n
If bitcoin starts a fresh increase, the first key resistance is near the $48,000 level. The main resistance is now forming near the channel upper trend line and $50,000.<\/p>\n
A clear break above the channel resistance could open the doors for decent increase above $50,000. The next key resistance is near the $52,000 level, above which the price might rise towards the $55,000 level.<\/p>\n
Technical indicators<\/p>\n
4 hours MACD \u2013 The MACD for BTC\/USD is showing negative signs in the bearish zone.<\/p>\n
4 hours RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now well below the 50 level.<\/p>\n
Major Support Level \u2013 $44,000<\/p>\n
Major Resistance Level \u2013 $50,000<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price started a fresh decline after it failed to clear $52,000 against the US Dollar. BTC is sliding and it remains at a risk of a drop towards $41,000. Bitcoin recovered above $50,000, but it struggled to clear the $52,000 resistance. The price is trading well below $50,000 and the 100 simple moving average (4-hours). There is a key declining channel forming with resistance near $49,220 on the 4-hours chart of the BTC\/USD pair (data feed from Kraken). The pair is likely to continue lower towards the $41,000 and $40,000 support levels in the near term. Bitcoin Price is Showing Bearish Signs This past week, bitcoin price extended its decline below the $47,000 support zone against the US Dollar. The BTC\/USD pair even tested the $44,000 support zone and settled well below the 100 simple moving average (4-hours). The last rejection zone was near the $52,000 level before the price declined below $45,000. It traded as low $44,360 before correcting higher. It recovered above the 23.6% Fib retracement level of the downward move from the $52,229 high to $44,360 low. Source: BTCUSD on TradingView.com However, the price struggled to clear the $48,000 resistance zone. It also failed to surpass the 50% Fib retracement level of the downward move from the $52,229 high to $44,360 low. There is also a key declining channel forming with resistance near $49,220 on the 4-hours chart of the BTC\/USD pair. Bitcoin is currently moving lower and it is likely to test the $44,000 support zone. If there is a downside break below the $44,000 support zone, there are chances of more downsides towards the $41,000 support zone. The next major support is near the $40,000 level. Upsides Capped in BTC? If bitcoin starts a fresh increase, the first key resistance is near the $48,000 level. The main resistance is now forming near the channel upper trend line and $50,000. A clear break above the channel resistance could open the doors for decent increase above $50,000. The next key resistance is near the $52,000 level, above which the price might rise towards the $55,000 level. Technical indicators 4 hours MACD \u2013 The MACD for BTC\/USD is showing negative signs in the bearish zone. 4 hours RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now well below the 50 level. Major Support Level \u2013 $44,000 Major Resistance Level \u2013 $50,000<\/p>\n","protected":false},"author":67,"featured_media":457687,"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-457685","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\nWhy Bitcoin Price Could Extend Its Decline To $41K, 100 SMA Holds The Key<\/title>\n<meta name=\"description\" content=\"Bitcoin price started a fresh decline after it failed to clear $52,000 against the US Dollar. 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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":"Why Bitcoin Price Could Extend Its Decline To $41K, 100 SMA Holds The Key","url":"http:\/\/wncen.com\/news\/bitcoin-price-could-decline-to-41k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-price-could-decline-to-41k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/02\/shutterstock_649452289-1.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/02\/shutterstock_649452289-1.jpg?fit=1000%2C666"},"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":"2021-02-28T05:08:48Z","datePublished":"2021-02-28T05:08:48Z","dateModified":"2024-06-11T14:13:37Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Why Bitcoin Price Could Extend Its Decline To $41K, 100 SMA Holds The Key\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-could-decline-to-41k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-could-decline-to-41k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/02\\\/shutterstock_649452289-1.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/02\\\/shutterstock_649452289-1.jpg?fit=1000%2C666\"},\"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\":\"2021-02-28T05:08:48Z\",\"datePublished\":\"2021-02-28T05:08:48Z\",\"dateModified\":\"2024-06-11T14:13:37Z\"}<\/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_649452289-1.jpg?fit=1000%2C666","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/457685"}],"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=457685"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/457685\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/457687"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=457685"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=457685"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=457685"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}