{"id":465276,"date":"2021-06-09T03:08:57","date_gmt":"2021-06-09T03:08:57","guid":{"rendered":"https:\/\/wncen.com\/?p=465276"},"modified":"2024-06-11T12:07:53","modified_gmt":"2024-06-11T12:07:53","slug":"bitcoin-extends-losses-30k-key","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-extends-losses-30k-key\/","title":{"rendered":"TA: Bitcoin Extends Losses, Why $30K Holds The Key For Next Wave"},"content":{"rendered":"
Bitcoin price extended its decline below the $33,000 support zone against the US Dollar. BTC is currently recovering and it must stay above $30,000 to avoid a larger decline.<\/em><\/p>\n Bitcoin remained in a bearish zone<\/a> below the $35,500 support zone and extended its decline. BTC broke the $33,500 support level and settled below the 100 hourly simple moving average.<\/p>\n The price even declined below the $32,000 support zone<\/a>. A low was formed near $31,065 before the price started an upside correction. There was a break above the $32,000 and $32,500 levels. The price climbed above the 23.6% Fib retracement level of the recent decline from the $36,820 swing high to $31,065 low.<\/p>\n However, the price is facing a strong resistance near the $34,000 level. It seems like the 50% Fib retracement level of the recent decline from the $36,820 swing high to $31,065 low is acting as a hurdle.<\/p>\n <\/a><\/p>\n There is also a key rising channel forming with support near $32,300 on the hourly chart of the BTC\/USD pair. The first major resistance is near the $33,500 level. The main resistance is near the $34,000 zone, above which the price could test the 100 hourly simple moving average.<\/p>\n If bitcoin fails to clear the $34,000 resistance, it could continue to move down. An initial support on the downside is near the $32,500 level.<\/p>\n The first major support is near the $32,300 level and the channel trend line. If there is a downside break below the channel support, the price could dive to $31,000. The main support is near the $30,000 level. If the bulls fail to protect the $30,000 support zone, there is a risk of a sharp decline.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is slowly gaining pace in the bearish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now well below the 50 level.<\/p>\n Major Support Levels \u2013 $32,300, followed by $31,000.<\/p>\n Major Resistance Levels \u2013 $33,500, $34,000 and $35,000.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin price extended its decline below the $33,000 support zone against the US Dollar. BTC is currently recovering and it must stay above $30,000 to avoid a larger decline. Bitcoin extended its decline below the $33,500 and $33,000 support levels. The price is currently well below $35,000 and the 100 hourly simple moving average. There is a key rising channel forming with support near $32,300 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start a fresh decline if there is a break below $32,300 and $32,000. Bitcoin Price is Under Pressure Bitcoin remained in a bearish zone below the $35,500 support zone and extended its decline. BTC broke the $33,500 support level and settled below the 100 hourly simple moving average. The price even declined below the $32,000 support zone. A low was formed near $31,065 before the price started an upside correction. There was a break above the $32,000 and $32,500 levels. The price climbed above the 23.6% Fib retracement level of the recent decline from the $36,820 swing high to $31,065 low. However, the price is facing a strong resistance near the $34,000 level. It seems like the 50% Fib retracement level of the recent decline from the $36,820 swing high to $31,065 low is acting as a hurdle. Source: BTCUSD on TradingView.com There is also a key rising channel forming with support near $32,300 on the hourly chart of the BTC\/USD pair. The first major resistance is near the $33,500 level. The main resistance is near the $34,000 zone, above which the price could test the 100 hourly simple moving average. More Losses in BTC? If bitcoin fails to clear the $34,000 resistance, it could continue to move down. An initial support on the downside is near the $32,500 level. The first major support is near the $32,300 level and the channel trend line. If there is a downside break below the channel support, the price could dive to $31,000. The main support is near the $30,000 level. If the bulls fail to protect the $30,000 support zone, there is a risk of a sharp decline. Technical indicators: Hourly MACD \u2013 The MACD is slowly gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now well below the 50 level. Major Support Levels \u2013 $32,300, followed by $31,000. Major Resistance Levels \u2013 $33,500, $34,000 and $35,000.<\/p>\n","protected":false},"author":67,"featured_media":463916,"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-465276","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\n
Bitcoin Price is Under Pressure<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
More Losses in BTC?<\/h2>\n