{"id":469157,"date":"2021-08-13T03:08:03","date_gmt":"2021-08-13T03:08:03","guid":{"rendered":"https:\/\/wncen.com\/?p=469157"},"modified":"2024-06-11T13:57:41","modified_gmt":"2024-06-11T13:57:41","slug":"bitcoin-tops-above-46-5k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-tops-above-46-5k\/","title":{"rendered":"TA: Bitcoin Tops Above $46.5K, Why BTC Could Extend Losses"},"content":{"rendered":"
Bitcoin price failed to continue higher above $46,700 against the US Dollar. BTC is correcting gains and it might revisit the $42,850 support zone.<\/em><\/p>\n Bitcoin price failed to continue higher above the $46,500 and $46,700 resistance levels<\/a>. As a result, BTC reacted to the downside below the $46,000 support zone.<\/p>\n There was a break below a key bullish trend line with support near $45,900 on the hourly chart of the BTC\/USD pair. The pair broke the $45,000 support level and it settled below the 100 hourly simple moving average. It even traded below the $44,000 level.<\/p>\n A low was formed near $43,785 and the price is now correcting losses. It recovered above the $44,000 and $44,500 levels. There was a break above the 23.6% Fib retracement level of the recent decline from the $46,758 swing high to $43,785 low.<\/p>\n On the upside, an initial resistance is near the $45,000 level. The first key resistance<\/a> is near the $45,250 level and the 100 hourly simple moving average. It is near the 50% Fib retracement level of the recent decline from the $46,758 swing high to $43,785 low.<\/p>\n <\/a><\/p>\n The next main resistance is now forming near the $45,500 level. A clear break above the $45,250 and $45,500 resistance levels could start a decent increase.<\/p>\n If bitcoin fails to climb above the $45,250 and $45,500 resistance levels, it could continue to move down. An initial support on the downside is near the $44,500 level.<\/p>\n The first major support is now near the $44,000 zone. If the price fails to stay above the $44,000 support level, it could move down towards the $43,000 support level. The next major support is near $42,850, where the bulls are likely to take a stand.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is slowly gaining pace in the bullish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n Major Support Levels \u2013 $44,500, followed by $44,000.<\/p>\n Major Resistance Levels \u2013 $45,000, $45,250 and $45,500.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin price failed to continue higher above $46,700 against the US Dollar. BTC is correcting gains and it might revisit the $42,850 support zone. Bitcoin failed to clear the $46,500 and $46,700 resistance levels. The price is now trading below $45,000 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $45,900 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is likely to extend its decline towards the $43,000 and $42,850 support levels. Bitcoin Price Starts Downside Correction Bitcoin price failed to continue higher above the $46,500 and $46,700 resistance levels. As a result, BTC reacted to the downside below the $46,000 support zone. There was a break below a key bullish trend line with support near $45,900 on the hourly chart of the BTC\/USD pair. The pair broke the $45,000 support level and it settled below the 100 hourly simple moving average. It even traded below the $44,000 level. A low was formed near $43,785 and the price is now correcting losses. It recovered above the $44,000 and $44,500 levels. There was a break above the 23.6% Fib retracement level of the recent decline from the $46,758 swing high to $43,785 low. On the upside, an initial resistance is near the $45,000 level. The first key resistance is near the $45,250 level and the 100 hourly simple moving average. It is near the 50% Fib retracement level of the recent decline from the $46,758 swing high to $43,785 low. Source: BTCUSD on TradingView.com The next main resistance is now forming near the $45,500 level. A clear break above the $45,250 and $45,500 resistance levels could start a decent increase. More Losses in BTC? If bitcoin fails to climb above the $45,250 and $45,500 resistance levels, it could continue to move down. An initial support on the downside is near the $44,500 level. The first major support is now near the $44,000 zone. If the price fails to stay above the $44,000 support level, it could move down towards the $43,000 support level. The next major support is near $42,850, where the bulls are likely to take a stand. Technical indicators: Hourly MACD \u2013 The MACD is slowly gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level. Major Support Levels \u2013 $44,500, followed by $44,000. Major Resistance Levels \u2013 $45,000, $45,250 and $45,500.<\/p>\n","protected":false},"author":67,"featured_media":464763,"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-469157","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 Starts Downside Correction<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
More Losses in BTC?<\/h2>\n