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{"id":470497,"date":"2021-08-31T03:08:23","date_gmt":"2021-08-31T03:08:23","guid":{"rendered":"https:\/\/wncen.com\/?p=470497"},"modified":"2024-06-11T13:58:11","modified_gmt":"2024-06-11T13:58:11","slug":"bitcoin-fails-again-49k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-fails-again-49k\/","title":{"rendered":"TA: Bitcoin Fails Again, Why BTC Remains At Risk of a Larger Decline"},"content":{"rendered":"

Bitcoin price failed to surpass the $49,000 resistance against the US Dollar. BTC is sliding and it could even break the $46,500 support zone.<\/em><\/p>\n

\n
Bitcoin is slowly moving lower from the $49,000 resistance zone.<\/li>\n
The price is now trading well below $48,000 and the 100 hourly simple moving average.<\/li>\n
There was a break below a key declining channel with support near $47,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could accelerate further lower if there is a break below the $46,500 support zone.<\/li>\n<\/ul>\n
Bitcoin Price Breaks Support<\/h2>\n
Bitcoin price struggled to clear the $49,000 resistance zone<\/a> and started a fresh decline. BTC traded below the $48,500 and $48,000 support levels to move into a short-term bearish zone.<\/p>\n
There was also a break below a key declining channel with support near $47,500 on the hourly chart of the BTC\/USD pair. The pair is now trading well below $48,000 and the 100 hourly simple moving average<\/a>. It tested the $46,700 zone and it currently consolidating losses.<\/p>\n
An immediate resistance is near the $47,150 level. It is near the 23.6% Fib retracement level of the recent decline from the $48,736 swing high to $46,697 swing low. On the downside, the price is finding bids near the $46,700 level.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
The next key support is near the $46,500 zone. If there is a downside break below the $46,500 support zone, the price might continue to move down. The next major support is near the $46,200 level, below which the bears might even aim a test of $45,000.<\/p>\n
Fresh Increase In BTC?<\/h2>\n
If bitcoin stays above the $46,500 support zone, it could start a fresh increase. An immediate resistance on the upside is near the $47,150 level.<\/p>\n
The first major resistance is near the $47,750 level. It is close to the 50% Fib retracement level of the recent decline from the $48,736 swing high to $46,697 swing low. The main resistance is near the $48,250 level and the 100 hourly simple moving average. A clear break above the $48,250 level could set the pace for more gains.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is gaining pace in the bearish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is well below the 50 level.<\/p>\n
Major Support Levels \u2013 $46,500, followed by $45,000.<\/p>\n
Major Resistance Levels \u2013 $47,750, $48,250 and $49,000.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price failed to surpass the $49,000 resistance against the US Dollar. BTC is sliding and it could even break the $46,500 support zone. Bitcoin is slowly moving lower from the $49,000 resistance zone. The price is now trading well below $48,000 and the 100 hourly simple moving average. There was a break below a key declining channel with support near $47,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could accelerate further lower if there is a break below the $46,500 support zone. Bitcoin Price Breaks Support Bitcoin price struggled to clear the $49,000 resistance zone and started a fresh decline. BTC traded below the $48,500 and $48,000 support levels to move into a short-term bearish zone. There was also a break below a key declining channel with support near $47,500 on the hourly chart of the BTC\/USD pair. The pair is now trading well below $48,000 and the 100 hourly simple moving average. It tested the $46,700 zone and it currently consolidating losses. An immediate resistance is near the $47,150 level. It is near the 23.6% Fib retracement level of the recent decline from the $48,736 swing high to $46,697 swing low. On the downside, the price is finding bids near the $46,700 level. Source: BTCUSD on TradingView.com The next key support is near the $46,500 zone. If there is a downside break below the $46,500 support zone, the price might continue to move down. The next major support is near the $46,200 level, below which the bears might even aim a test of $45,000. Fresh Increase In BTC? If bitcoin stays above the $46,500 support zone, it could start a fresh increase. An immediate resistance on the upside is near the $47,150 level. The first major resistance is near the $47,750 level. It is close to the 50% Fib retracement level of the recent decline from the $48,736 swing high to $46,697 swing low. The main resistance is near the $48,250 level and the 100 hourly simple moving average. A clear break above the $48,250 level could set the pace for more gains. Technical indicators: Hourly MACD \u2013 The MACD is gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is well below the 50 level. Major Support Levels \u2013 $46,500, followed by $45,000. Major Resistance Levels \u2013 $47,750, $48,250 and $49,000.<\/p>\n","protected":false},"author":67,"featured_media":460842,"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-470497","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 Fails Again, Why BTC Remains At Risk of a Larger Decline<\/title>\n<meta name=\"description\" content=\"Bitcoin price failed to surpass the $49,000 resistance against the US Dollar. BTC is sliding and it could even break the $46,500 support zone. 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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 Fails Again, Why BTC Remains At Risk of a Larger Decline","url":"http:\/\/wncen.com\/news\/bitcoin-fails-again-49k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-fails-again-49k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/shutterstock_1334283245.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/shutterstock_1334283245.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":"2021-08-31T03:08:23Z","datePublished":"2021-08-31T03:08:23Z","dateModified":"2024-06-11T13:58:11Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Bitcoin Fails Again, Why BTC Remains At Risk of a Larger Decline\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-fails-again-49k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-fails-again-49k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_1334283245.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_1334283245.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\":\"2021-08-31T03:08:23Z\",\"datePublished\":\"2021-08-31T03:08:23Z\",\"dateModified\":\"2024-06-11T13:58:11Z\"}<\/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.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/470497","targetHints":{"allow":["GET"]}}],"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=470497"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/470497\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/460842"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=470497"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=470497"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=470497"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}