{"id":462023,"date":"2021-04-23T02:18:03","date_gmt":"2021-04-23T02:18:03","guid":{"rendered":"https:\/\/wncen.com\/?p=462023"},"modified":"2024-06-11T13:55:11","modified_gmt":"2024-06-11T13:55:11","slug":"bitcoin-dives-below-51k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-dives-below-51k\/","title":{"rendered":"TA: Bitcoin Dives Below Key Support, Here\u2019s Why BTC Bears Are Back"},"content":{"rendered":"<p><em>Bitcoin price failed to stay above the $54,000 support against the US Dollar. BTC is declining and it is likely to accelerate losses below the $50,000 support zone.<\/em><\/p>\n<ul>\n<li>Bitcoin is declining from well above $55,000 and it broke the $53,500 support.<\/li>\n<li>The price is now trading well below $52,000 and the 100 hourly simple moving average.<\/li>\n<li>There was a break below a major declining channel with support near $52,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair is likely to continue lower below the $50,500 and $50,000 support levels.<\/li>\n<\/ul>\n<h2>Bitcoin Price is Down 7%<\/h2>\n<p>Bitcoin attempted an upside break above the $55,500 level, but it failed. BTC traded as high as $55,493 and recently started a <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-stuck-in-range-55k\/\" target=\"_blank\" rel=\"noopener \">strong decline<\/a>.<\/p>\n<p>There was a break below the $54,000 and $53,500 support levels. There was also a break below a major declining channel with support near $52,800 on the hourly chart of the BTC\/USD pair. The pair is now trading well below $52,000 and the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-struggles-below-57k\/\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>.<\/p>\n<p>It even broke $51,000 and traded as low as $50,512. On the upside, an initial resistance is near the $51,680 level. It is near the 23.6% Fib retracement level of the recent drop from the $55,493 high to $50,512 low.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/Bitcoin-18.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-462024\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/Bitcoin-18.png?resize=1828%2C867\" alt=\"Bitcoin Price\" width=\"1828\" height=\"867\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/Bitcoin-18.png?w=1828 1828w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/Bitcoin-18.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/Bitcoin-18.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/Bitcoin-18.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/Bitcoin-18.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/Bitcoin-18.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/Bitcoin-18.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<pre>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/pre>\n<p>The first major resistance is near the $52,500 level. The main resistance is now forming near the $53,000 zone. The 50% Fib retracement level of the recent drop from the $55,493 high to $50,512 low is also near the $53,000 zone. A successful break above the $52,500 and $53,000 levels is must to start a fresh increase in the near term.<\/p>\n<h2>More Losses in BTC?<\/h2>\n<p>If bitcoin fails to clear the $52,500 and $53,000 resistance levels, it could continue to move down. An immediate support on the downside is near the $50,500 level.<\/p>\n<p>The first key support is near the $50,000 level. If the bears are able to clear the $50,000 support, the price could dive further. The next major support is near the $49,200 level, below which the price could test the $48,000 zone.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is slowly gaining strength in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 30 level.<\/p>\n<p>Major Support Levels \u2013 $50,000, followed by $48,000.<\/p>\n<p>Major Resistance Levels \u2013 $51,500, $52,500 and $53,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price failed to stay above the $54,000 support against the US Dollar. BTC is declining and it is likely to accelerate losses below the $50,000 support zone. Bitcoin is declining from well above $55,000 and it broke the $53,500 support. The price is now trading well below $52,000 and the 100 hourly simple moving average. There was a break below a major declining channel with support near $52,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is likely to continue lower below the $50,500 and $50,000 support levels. Bitcoin Price is Down 7% Bitcoin attempted an upside break above the $55,500 level, but it failed. BTC traded as high as $55,493 and recently started a strong decline. There was a break below the $54,000 and $53,500 support levels. There was also a break below a major declining channel with support near $52,800 on the hourly chart of the BTC\/USD pair. The pair is now trading well below $52,000 and the 100 hourly simple moving average. It even broke $51,000 and traded as low as $50,512. On the upside, an initial resistance is near the $51,680 level. It is near the 23.6% Fib retracement level of the recent drop from the $55,493 high to $50,512 low. Source: BTCUSD on TradingView.com The first major resistance is near the $52,500 level. The main resistance is now forming near the $53,000 zone. The 50% Fib retracement level of the recent drop from the $55,493 high to $50,512 low is also near the $53,000 zone. A successful break above the $52,500 and $53,000 levels is must to start a fresh increase in the near term. More Losses in BTC? If bitcoin fails to clear the $52,500 and $53,000 resistance levels, it could continue to move down. An immediate support on the downside is near the $50,500 level. The first key support is near the $50,000 level. If the bears are able to clear the $50,000 support, the price could dive further. The next major support is near the $49,200 level, below which the price could test the $48,000 zone. Technical indicators: Hourly MACD \u2013 The MACD is slowly gaining strength in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 30 level. Major Support Levels \u2013 $50,000, followed by $48,000. Major Resistance Levels \u2013 $51,500, $52,500 and $53,000.<\/p>\n","protected":false},"author":67,"featured_media":462026,"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-462023","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n<title>TA: Bitcoin Dives Below Key Support, Here\u2019s Why BTC Bears Are Back<\/title>\n<meta name=\"description\" content=\"Bitcoin price failed to stay above the $54,000 support against the US Dollar. 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Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation. As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. 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 Dives Below Key Support, Here\u2019s Why BTC Bears Are Back","url":"http:\/\/wncen.com\/news\/bitcoin-dives-below-51k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-dives-below-51k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/shutterstock_271682210.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/shutterstock_271682210.jpg?fit=1000%2C651"},"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":"2021-04-23T02:18:03Z","datePublished":"2021-04-23T02:18:03Z","dateModified":"2024-06-11T13:55:11Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Bitcoin Dives Below Key Support, Here\\u2019s Why BTC Bears Are Back\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-dives-below-51k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-dives-below-51k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_271682210.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_271682210.jpg?fit=1000%2C651\"},\"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\":\"2021-04-23T02:18:03Z\",\"datePublished\":\"2021-04-23T02:18:03Z\",\"dateModified\":\"2024-06-11T13:55:11Z\"}<\/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\/04\/shutterstock_271682210.jpg?fit=1000%2C651","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/462023"}],"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=462023"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/462023\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/462026"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=462023"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=462023"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=462023"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}