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{"id":465929,"date":"2021-06-21T03:08:09","date_gmt":"2021-06-21T03:08:09","guid":{"rendered":"https:\/\/wncen.com\/?p=465929"},"modified":"2024-06-11T11:22:22","modified_gmt":"2024-06-11T11:22:22","slug":"bitcoin-btc-turns-red-35k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-btc-turns-red-35k\/","title":{"rendered":"TA: Bitcoin Turns Red, Here\u2019s Why BTC Could Resume Its Decline"},"content":{"rendered":"

Bitcoin price started a fresh decline after it failed to clear $38,000 against the US Dollar. BTC is now struggling below $36,500 and it remains at a risk of more losses.<\/em><\/p>\n

\n
Bitcoin started a fresh decline from well above the $38,000 support level.<\/li>\n
The price is now trading well below $37,000 and the 100 hourly simple moving average.<\/li>\n
There is a crucial bearish trend line forming with resistance near $36,400 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair is likely to continue lower if it fails to clear the $36,200 and $36,500 resistance levels.<\/li>\n<\/ul>\n
Bitcoin Price Faces Resistance<\/h2>\n
Bitcoin failed to continue higher above the $38,000 resistance and started a fresh decline<\/a>. BTC broke the $36,500 and $35,500 support levels to move into a bearish zone.<\/p>\n
The price even broke the $34,000 support level and settled well below the 100 hourly simple moving average<\/a>. It traded as low as $33,373 and it recently started an upside correction. Bitcoin was able to recover above the $34,000 and $35,000 resistance levels.<\/p>\n
There was also a break above the 50% Fib retracement level of the recent decline from the $36,463 swing high to $33,373 low. However, the price is facing a major resistance near the $36,000 zone.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
It is still trading well below $37,000 and the 100 hourly simple moving average. The 76.4% Fib retracement level of the recent decline from the $36,463 swing high to $33,373 low is currently acting as a resistance. Besides, there is a crucial bearish trend line forming with resistance near $36,400 on the hourly chart of the BTC\/USD pair.<\/p>\n
To move into a positive zone, the price must clear the trend line resistance, $36,500 and the 100 hourly SMA. The next major resistance on the upside sits at $38,000.<\/p>\n
More Losses in BTC?<\/h2>\n
If bitcoin fails to clear the trend line resistance and $36,500, it could continue to move down. An immediate support on the downside is near the $35,000 level.<\/p>\n
The next major support is near the $34,000 level. A downside break below $34,000 could push the price to $33,000. Any more losses could open the doors for a move towards the $32,000 support zone in the near term.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is slowly moving into the bearish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is struggling to stay above the 50 level.<\/p>\n
Major Support Levels \u2013 $35,000, followed by $34,000.<\/p>\n
Major Resistance Levels \u2013 $36,200, $36,500 and $38,000.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price started a fresh decline after it failed to clear $38,000 against the US Dollar. BTC is now struggling below $36,500 and it remains at a risk of more losses. Bitcoin started a fresh decline from well above the $38,000 support level. The price is now trading well below $37,000 and the 100 hourly simple moving average. There is a crucial bearish trend line forming with resistance near $36,400 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is likely to continue lower if it fails to clear the $36,200 and $36,500 resistance levels. Bitcoin Price Faces Resistance Bitcoin failed to continue higher above the $38,000 resistance and started a fresh decline. BTC broke the $36,500 and $35,500 support levels to move into a bearish zone. The price even broke the $34,000 support level and settled well below the 100 hourly simple moving average. It traded as low as $33,373 and it recently started an upside correction. Bitcoin was able to recover above the $34,000 and $35,000 resistance levels. There was also a break above the 50% Fib retracement level of the recent decline from the $36,463 swing high to $33,373 low. However, the price is facing a major resistance near the $36,000 zone. Source: BTCUSD on TradingView.com It is still trading well below $37,000 and the 100 hourly simple moving average. The 76.4% Fib retracement level of the recent decline from the $36,463 swing high to $33,373 low is currently acting as a resistance. Besides, there is a crucial bearish trend line forming with resistance near $36,400 on the hourly chart of the BTC\/USD pair. To move into a positive zone, the price must clear the trend line resistance, $36,500 and the 100 hourly SMA. The next major resistance on the upside sits at $38,000. More Losses in BTC? If bitcoin fails to clear the trend line resistance and $36,500, it could continue to move down. An immediate support on the downside is near the $35,000 level. The next major support is near the $34,000 level. A downside break below $34,000 could push the price to $33,000. Any more losses could open the doors for a move towards the $32,000 support zone in the near term. Technical indicators: Hourly MACD \u2013 The MACD is slowly moving into the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is struggling to stay above the 50 level. Major Support Levels \u2013 $35,000, followed by $34,000. Major Resistance Levels \u2013 $36,200, $36,500 and $38,000.<\/p>\n","protected":false},"author":67,"featured_media":459185,"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-465929","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 Turns Red, Here\u2019s Why BTC Could Resume Its Decline<\/title>\n<meta name=\"description\" content=\"Bitcoin price started a fresh decline after it failed to clear $38,000 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 Turns Red, Here\u2019s Why BTC Could Resume Its Decline","url":"http:\/\/wncen.com\/news\/bitcoin-btc-turns-red-35k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-btc-turns-red-35k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/shutterstock_1043982583.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/shutterstock_1043982583.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":"2021-06-21T03:08:09Z","datePublished":"2021-06-21T03:08:09Z","dateModified":"2024-06-11T11:22:22Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Bitcoin Turns Red, Here\\u2019s Why BTC Could Resume Its Decline\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-btc-turns-red-35k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-btc-turns-red-35k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_1043982583.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_1043982583.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\":\"2021-06-21T03:08:09Z\",\"datePublished\":\"2021-06-21T03:08:09Z\",\"dateModified\":\"2024-06-11T11:22:22Z\"}<\/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\/03\/shutterstock_1043982583.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/465929"}],"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=465929"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/465929\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/459185"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=465929"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=465929"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=465929"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}