{"id":467431,"date":"2021-07-14T03:08:46","date_gmt":"2021-07-14T03:08:46","guid":{"rendered":"https:\/\/wncen.com\/?p=467431"},"modified":"2024-06-11T13:57:02","modified_gmt":"2024-06-11T13:57:02","slug":"bitcoin-turns-vulnerable-32k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-turns-vulnerable-32k\/","title":{"rendered":"TA: Bitcoin Turns Vulnerable, Why BTC Could Nosedive Below $32K"},"content":{"rendered":"<p><em>Bitcoin price is slowly moving lower and it is trading well below $33,500 against the US Dollar. BTC remains at a risk of a larger decline if it breaks the $32,000 support zone.<\/em><\/p>\n<ul>\n<li>Bitcoin is struggling to recover and it is trading well below $33,500 and $33,000.<\/li>\n<li>The price is now trading near $32,200, but it is well below the 100 hourly simple moving average.<\/li>\n<li>There was a break below a bearish continuation pattern with support near $32,900 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair is likely to accelerate lower if there is a clear break below the $32,200 support zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Remains At Risk<\/h2>\n<p>In the past few sessions, bitcoin price saw <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-tops-and-fails-again-35k\/\" target=\"_blank\" rel=\"noopener \">bearish moves<\/a> below the $34,000 and $33,500 support levels. BTC even traded below the $33,000 level and it settled well below the 100 hourly simple moving average.<\/p>\n<p>There was also a break below a bearish continuation pattern with support near $32,900 on the hourly chart of the BTC\/USD pair. It is now trading near $32,200, but it is well below the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-prints-bullish-pattern-35k-2\/\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>. The recent low was formed near $32,208 and the price is now consolidating.<\/p>\n<p>An immediate resistance is near the $32,500 level. It is near the 23.6% Fib retracement level of the recent decline from the $33,354 high to $32,208 low.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/07\/Bitcoin-9.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-467432\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/07\/Bitcoin-9.png?resize=1936%2C1127\" alt=\"Bitcoin Price\" width=\"1936\" height=\"1127\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/07\/Bitcoin-9.png?w=1936 1936w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/07\/Bitcoin-9.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/07\/Bitcoin-9.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/07\/Bitcoin-9.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/07\/Bitcoin-9.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/07\/Bitcoin-9.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/07\/Bitcoin-9.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>There is also a declining channel forming with resistance near $32,800 on the same chart. The channel resistance is close to the 50% Fib retracement level of the recent decline from the $33,354 high to $32,208 low. A clear break above the channel resistance and then $33,000 could start a decent recovery. The next major resistance sits near $33,500.<\/p>\n<h2>More Losses in BTC?<\/h2>\n<p>If bitcoin fails to recover above the $33,000 and $33,500 resistance levels, there is a risk of a larger decline. An initial support on the downside is near the $32,200 level.<\/p>\n<p>The main support is still near the $32,000 level, below which the price might easily dive towards the $30,000 level. Any more losses could set the pace for a drop towards the $28,800 level in the near term.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is slowly moving into the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now well below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $32,200, followed by $32,000.<\/p>\n<p>Major Resistance Levels \u2013 $33,000, $33,500 and $34,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is slowly moving lower and it is trading well below $33,500 against the US Dollar. BTC remains at a risk of a larger decline if it breaks the $32,000 support zone. Bitcoin is struggling to recover and it is trading well below $33,500 and $33,000. The price is now trading near $32,200, but it is well below the 100 hourly simple moving average. There was a break below a bearish continuation pattern with support near $32,900 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is likely to accelerate lower if there is a clear break below the $32,200 support zone. Bitcoin Price Remains At Risk In the past few sessions, bitcoin price saw bearish moves below the $34,000 and $33,500 support levels. BTC even traded below the $33,000 level and it settled well below the 100 hourly simple moving average. There was also a break below a bearish continuation pattern with support near $32,900 on the hourly chart of the BTC\/USD pair. It is now trading near $32,200, but it is well below the 100 hourly simple moving average. The recent low was formed near $32,208 and the price is now consolidating. An immediate resistance is near the $32,500 level. It is near the 23.6% Fib retracement level of the recent decline from the $33,354 high to $32,208 low. Source: BTCUSD on TradingView.com There is also a declining channel forming with resistance near $32,800 on the same chart. The channel resistance is close to the 50% Fib retracement level of the recent decline from the $33,354 high to $32,208 low. A clear break above the channel resistance and then $33,000 could start a decent recovery. The next major resistance sits near $33,500. More Losses in BTC? If bitcoin fails to recover above the $33,000 and $33,500 resistance levels, there is a risk of a larger decline. An initial support on the downside is near the $32,200 level. The main support is still near the $32,000 level, below which the price might easily dive towards the $30,000 level. Any more losses could set the pace for a drop towards the $28,800 level in the near term. 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 now well below the 50 level. Major Support Levels \u2013 $32,200, followed by $32,000. Major Resistance Levels \u2013 $33,000, $33,500 and $34,000.<\/p>\n","protected":false},"author":67,"featured_media":458753,"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-467431","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 Turns Vulnerable, Why BTC Could Nosedive Below $32K<\/title>\n<meta name=\"description\" content=\"Bitcoin price is slowly moving lower and it is trading well below $33,500 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 Turns Vulnerable, Why BTC Could Nosedive Below $32K","url":"http:\/\/wncen.com\/news\/bitcoin-turns-vulnerable-32k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-turns-vulnerable-32k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/shutterstock_142783711.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/shutterstock_142783711.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":"2021-07-14T03:08:46Z","datePublished":"2021-07-14T03:08:46Z","dateModified":"2024-06-11T13:57:02Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Bitcoin Turns Vulnerable, Why BTC Could Nosedive Below $32K\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-turns-vulnerable-32k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-turns-vulnerable-32k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_142783711.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_142783711.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\":\"2021-07-14T03:08:46Z\",\"datePublished\":\"2021-07-14T03:08:46Z\",\"dateModified\":\"2024-06-11T13:57:02Z\"}<\/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_142783711.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/467431"}],"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=467431"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/467431\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/458753"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=467431"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=467431"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=467431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}