{"id":470237,"date":"2021-08-27T03:08:42","date_gmt":"2021-08-27T03:08:42","guid":{"rendered":"https:\/\/wncen.com\/?p=470237"},"modified":"2024-06-11T13:58:05","modified_gmt":"2024-06-11T13:58:05","slug":"bitcoin-resumes-decline-45k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-resumes-decline-45k\/","title":{"rendered":"TA: Bitcoin Resumes Decline, Why BTC Could Dive To $45K"},"content":{"rendered":"<p><em>Bitcoin price failed to settle above $48,500 and corrected lower against the US Dollar. BTC is now facing many hurdles near $47,500 and $48,000.<\/em><\/p>\n<ul>\n<li>Bitcoin extended its decline and tested the $46,500 support zone.<\/li>\n<li>The price is now trading below $48,500 and the 100 hourly simple moving average.<\/li>\n<li>There is a connecting bearish trend line forming with resistance near $48,550 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could extend its decline unless it clears the $48,500 level and the 100 hourly SMA.<\/li>\n<\/ul>\n<h2>Bitcoin Price Slides Again<\/h2>\n<p>Bitcoin price made an attempt to surpass the $49,000 resistance zone. However, BTC failed to gain strength above the $49,200 level. A high was formed near $49,335 before the price started a fresh decline.<\/p>\n<p>There was a sharp decline below the $48,500 support level and the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-attempts-fresh-increase-50k\/\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>. The price even broke the $47,500 and $47,000 levels. It tested the $46,500 support and a low is formed near the $46,493.<\/p>\n<p>It is now consolidating losses above the $46,500 level. Bitcoin recovered above the 23.6% Fib retracement level of the recent decline from the $49,335 swing high to $46,493 low. It is now facing resistance near the $47,500 level.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/08\/Bitcoin-19.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-470238\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/08\/Bitcoin-19.png?resize=1828%2C867\" alt=\"Bitcoin Price\" width=\"1828\" height=\"867\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/08\/Bitcoin-19.png?w=1828 1828w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/08\/Bitcoin-19.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/08\/Bitcoin-19.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/08\/Bitcoin-19.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/08\/Bitcoin-19.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/08\/Bitcoin-19.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/08\/Bitcoin-19.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>The first major resistance is near the $48,000 level. It is close to the 50% Fib retracement level of the recent decline from the $49,335 swing high to $46,493 low. There is also a connecting bearish trend line forming with resistance near $48,550 on the hourly chart of the BTC\/USD pair. To start a strong increase, the price must clear the $48,500 resistance and the 100 hourly SMA.<\/p>\n<h2>More Losss in BTC?<\/h2>\n<p>If bitcoin fails to climb above the $48,500 resistance, it could start a fresh increase. On the downside, an immediate support is near the $46,800 level.<\/p>\n<p>The first key support is near the $46,500 level. If there is a downside break below the $46,500 support, the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-downsides-below-47k\/\" target=\"_blank\" rel=\"noopener \">price could continue to move down<\/a>. The next major support is near the $46,200 level. Any more losses could open the doors for a move towards the $45,000 support zone.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is losing pace in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now close to the 50 level.<\/p>\n<p>Major Support Levels \u2013 $46,500, followed by $46,200.<\/p>\n<p>Major Resistance Levels \u2013 $47,900, $48,000 and $48,500.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price failed to settle above $48,500 and corrected lower against the US Dollar. BTC is now facing many hurdles near $47,500 and $48,000. Bitcoin extended its decline and tested the $46,500 support zone. The price is now trading below $48,500 and the 100 hourly simple moving average. There is a connecting bearish trend line forming with resistance near $48,550 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could extend its decline unless it clears the $48,500 level and the 100 hourly SMA. Bitcoin Price Slides Again Bitcoin price made an attempt to surpass the $49,000 resistance zone. However, BTC failed to gain strength above the $49,200 level. A high was formed near $49,335 before the price started a fresh decline. There was a sharp decline below the $48,500 support level and the 100 hourly simple moving average. The price even broke the $47,500 and $47,000 levels. It tested the $46,500 support and a low is formed near the $46,493. It is now consolidating losses above the $46,500 level. Bitcoin recovered above the 23.6% Fib retracement level of the recent decline from the $49,335 swing high to $46,493 low. It is now facing resistance near the $47,500 level. Source: BTCUSD on TradingView.com The first major resistance is near the $48,000 level. It is close to the 50% Fib retracement level of the recent decline from the $49,335 swing high to $46,493 low. There is also a connecting bearish trend line forming with resistance near $48,550 on the hourly chart of the BTC\/USD pair. To start a strong increase, the price must clear the $48,500 resistance and the 100 hourly SMA. More Losss in BTC? If bitcoin fails to climb above the $48,500 resistance, it could start a fresh increase. On the downside, an immediate support is near the $46,800 level. The first key support is near the $46,500 level. If there is a downside break below the $46,500 support, the price could continue to move down. The next major support is near the $46,200 level. Any more losses could open the doors for a move towards the $45,000 support zone. Technical indicators: Hourly MACD \u2013 The MACD is losing pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now close to the 50 level. Major Support Levels \u2013 $46,500, followed by $46,200. Major Resistance Levels \u2013 $47,900, $48,000 and $48,500.<\/p>\n","protected":false},"author":67,"featured_media":463748,"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-470237","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 Resumes Decline, Why BTC Could Dive To $45K<\/title>\n<meta name=\"description\" content=\"Bitcoin price failed to settle above $48,500 and corrected lower against the US Dollar. BTC is now facing many hurdles near $47,500 and $48,000. 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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 Resumes Decline, Why BTC Could Dive To $45K","url":"http:\/\/wncen.com\/news\/bitcoin-resumes-decline-45k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-resumes-decline-45k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/shutterstock_649342378.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/shutterstock_649342378.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":"2021-08-27T03:08:42Z","datePublished":"2021-08-27T03:08:42Z","dateModified":"2024-06-11T13:58:05Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Bitcoin Resumes Decline, Why BTC Could Dive To $45K\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-resumes-decline-45k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-resumes-decline-45k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_649342378.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_649342378.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\":\"2021-08-27T03:08:42Z\",\"datePublished\":\"2021-08-27T03:08:42Z\",\"dateModified\":\"2024-06-11T13:58:05Z\"}<\/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\/05\/shutterstock_649342378.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/470237"}],"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=470237"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/470237\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/463748"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=470237"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=470237"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=470237"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}