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{"id":465735,"date":"2021-06-17T03:08:46","date_gmt":"2021-06-17T03:08:46","guid":{"rendered":"https:\/\/wncen.com\/?p=465735"},"modified":"2024-06-11T11:45:27","modified_gmt":"2024-06-11T11:45:27","slug":"bitcoin-btc-dips-from-40k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-btc-dips-from-40k\/","title":{"rendered":"TA: Bitcoin Dips From $40K, Here\u2019s Why Uptrend Is Still Intact In BTC"},"content":{"rendered":"

Bitcoin price started a downside correction from well above $40,000 against the US Dollar. BTC is now trading near a major support at $38,000, where the bulls are currently active.<\/em><\/p>\n

\n
Bitcoin started a downside correction after it failed to stay above $40,000.<\/li>\n
The price is currently just below $39,000 and the 100 hourly simple moving average.<\/li>\n
There was a break below a key contracting triangle with support near $39,900 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair is likely to start a fresh increase unless there is a close below the $38,000 support=.<\/li>\n<\/ul>\n
Bitcoin Price Revisits Key Support<\/h2>\n
Bitcoin topped near the $41,350 before it started a downside correction. BTC consolidated above $40,000 for some time before the bulls failed to protect the mentioned support zone<\/a>.<\/p>\n
The price declined below the $40,000 and $39,500 support levels. There was also a break below a key contracting triangle with support near $39,900 on the hourly chart of the BTC\/USD pair. The pair even broke the $38,500 support level and the 100 hourly simple moving average<\/a>.<\/p>\n
However, the bulls are protecting the $38,000 support zone (the last breakout zone). The price is now consolidating above the $38,000 level. It is also just below $39,000 and the 100 hourly simple moving average. The 23.6% Fib retracement level of the recent decline from the $41,350 swing high to $38,154 low is also near the 100 hourly SMA.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
The first major resistance is near the $39,750 level. It is close to the 50% Fib retracement level of the recent decline from the $41,350 swing high to $38,154 low.<\/p>\n
The main resistance is now forming near the $40,000 zone. A clear upside break above the $40,000 zone is likely to set the pace for a fresh rally in the near term.<\/p>\n
More Losses in BTC?<\/h2>\n
If bitcoin fails to clear the $39,750 resistance and $40,000, it could extend its decline. An initial support on the downside is near the $38,150 level.<\/p>\n
The first major support is near the $38,000 level. A downside break below the recent low and the $38,000 level could open the doors for a larger decline towards $36,500.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is slowly moving into the bullish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is rising towards the 50 level.<\/p>\n
Major Support Levels \u2013 $38,150, followed by $38,000.<\/p>\n
Major Resistance Levels \u2013 $39,500, $39,750 and $40,000.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price started a downside correction from well above $40,000 against the US Dollar. BTC is now trading near a major support at $38,000, where the bulls are currently active. Bitcoin started a downside correction after it failed to stay above $40,000. The price is currently just below $39,000 and the 100 hourly simple moving average. There was a break below a key contracting triangle with support near $39,900 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is likely to start a fresh increase unless there is a close below the $38,000 support=. Bitcoin Price Revisits Key Support Bitcoin topped near the $41,350 before it started a downside correction. BTC consolidated above $40,000 for some time before the bulls failed to protect the mentioned support zone. The price declined below the $40,000 and $39,500 support levels. There was also a break below a key contracting triangle with support near $39,900 on the hourly chart of the BTC\/USD pair. The pair even broke the $38,500 support level and the 100 hourly simple moving average. However, the bulls are protecting the $38,000 support zone (the last breakout zone). The price is now consolidating above the $38,000 level. It is also just below $39,000 and the 100 hourly simple moving average. The 23.6% Fib retracement level of the recent decline from the $41,350 swing high to $38,154 low is also near the 100 hourly SMA. Source: BTCUSD on TradingView.com The first major resistance is near the $39,750 level. It is close to the 50% Fib retracement level of the recent decline from the $41,350 swing high to $38,154 low. The main resistance is now forming near the $40,000 zone. A clear upside break above the $40,000 zone is likely to set the pace for a fresh rally in the near term. More Losses in BTC? If bitcoin fails to clear the $39,750 resistance and $40,000, it could extend its decline. An initial support on the downside is near the $38,150 level. The first major support is near the $38,000 level. A downside break below the recent low and the $38,000 level could open the doors for a larger decline towards $36,500. Technical indicators: Hourly MACD \u2013 The MACD is slowly moving into the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is rising towards the 50 level. Major Support Levels \u2013 $38,150, followed by $38,000. Major Resistance Levels \u2013 $39,500, $39,750 and $40,000.<\/p>\n","protected":false},"author":67,"featured_media":461819,"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-465735","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 Dips From $40K, Here\u2019s Why Uptrend Is Still Intact In BTC<\/title>\n<meta name=\"description\" content=\"Bitcoin price started a downside correction from well above $40,000 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":"TA: Bitcoin Dips From $40K, Here\u2019s Why Uptrend Is Still Intact In BTC","url":"http:\/\/wncen.com\/news\/bitcoin-btc-dips-from-40k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-btc-dips-from-40k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/shutterstock_1334283245-1.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/shutterstock_1334283245-1.jpg?fit=1000%2C667"},"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":"2021-06-17T03:08:46Z","datePublished":"2021-06-17T03:08:46Z","dateModified":"2024-06-11T11:45:27Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Bitcoin Dips From $40K, Here\\u2019s Why Uptrend Is Still Intact In BTC\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-btc-dips-from-40k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-btc-dips-from-40k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_1334283245-1.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_1334283245-1.jpg?fit=1000%2C667\"},\"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\":\"2021-06-17T03:08:46Z\",\"datePublished\":\"2021-06-17T03:08:46Z\",\"dateModified\":\"2024-06-11T11:45:27Z\"}<\/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_1334283245-1.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/465735"}],"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=465735"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/465735\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/461819"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=465735"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=465735"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=465735"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}