{"id":472689,"date":"2021-09-29T03:08:05","date_gmt":"2021-09-29T03:08:05","guid":{"rendered":"https:\/\/wncen.com\/?p=472689"},"modified":"2024-06-11T13:59:03","modified_gmt":"2024-06-11T13:59:03","slug":"bitcoin-near-crucial-juncture-40750","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-near-crucial-juncture-40750\/","title":{"rendered":"TA: Bitcoin Near Crucial Juncture, Why Bulls Could Aim Fresh Increase"},"content":{"rendered":"
Bitcoin price extended its decline and tested the key $40,750 support against the US Dollar. BTC could start a fresh increase as long as it is above $40,750.<\/em><\/p>\n Bitcoin price remained in a bearish zone<\/a> below the $42,500 level. BTC extended its decline below $42,000 and settled below the 100 hourly simple moving average.<\/p>\n There was a break below the $41,200 level, but the bulls protected the $40,750 support zone. A low is formed near $40,772 and the price is now rising. It surpassed the $41,200 and $41,500 levels. There was a break above the 23.6% Fib retracement level of the recent decline from the $44,327 swing high to $40,774 low.<\/p>\n Bitcoin is now trading below $42,500 and the 100 hourly simple moving average<\/a>. On the upside, an immediate resistance is near the $42,000 level.<\/p>\n The first major resistance is near the $42,100 level. There is also a major bearish trend line forming with resistance near $42,100 on the hourly chart of the BTC\/USD pair. The next major resistance is near the $42,600 level and the 100 hourly simple moving average.<\/p>\n <\/a><\/p>\n The 50% Fib retracement level of the recent decline from the $44,327 swing high to $40,774 low is also near the $42,550 level. A close above the $42,600 level could push the price further higher. In the stated case, it could test the $43,500 resistance.<\/p>\n If bitcoin fails to clear the $42,100 resistance zone, it could continue to move down. An immediate support on the downside is near the $41,200 level.<\/p>\n The main breakdown support is near the $40,750 zone. A close below the $40,750 support level might lead the price towards the $40,000 zone. Any more losses could trigger a larger decline towards $38,000.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is slowly losing pace in the bearish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now rising towards the 50 level.<\/p>\n Major Support Levels \u2013 $41,200, followed by $40,750.<\/p>\n Major Resistance Levels \u2013 $42,000, $42,100 and $42,600.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin price extended its decline and tested the key $40,750 support against the US Dollar. BTC could start a fresh increase as long as it is above $40,750. Bitcoin extended its decline below the $42,000 and $41,200 support levels. The price is now trading below $42,500 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $42,100 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start a decent increase as long as it is above the $40,750 support zone. Bitcoin Price Tests Key Support Bitcoin price remained in a bearish zone below the $42,500 level. BTC extended its decline below $42,000 and settled below the 100 hourly simple moving average. There was a break below the $41,200 level, but the bulls protected the $40,750 support zone. A low is formed near $40,772 and the price is now rising. It surpassed the $41,200 and $41,500 levels. There was a break above the 23.6% Fib retracement level of the recent decline from the $44,327 swing high to $40,774 low. Bitcoin is now trading below $42,500 and the 100 hourly simple moving average. On the upside, an immediate resistance is near the $42,000 level. The first major resistance is near the $42,100 level. There is also a major bearish trend line forming with resistance near $42,100 on the hourly chart of the BTC\/USD pair. The next major resistance is near the $42,600 level and the 100 hourly simple moving average. Source: BTCUSD on TradingView.com The 50% Fib retracement level of the recent decline from the $44,327 swing high to $40,774 low is also near the $42,550 level. A close above the $42,600 level could push the price further higher. In the stated case, it could test the $43,500 resistance. More Downsides In BTC? If bitcoin fails to clear the $42,100 resistance zone, it could continue to move down. An immediate support on the downside is near the $41,200 level. The main breakdown support is near the $40,750 zone. A close below the $40,750 support level might lead the price towards the $40,000 zone. Any more losses could trigger a larger decline towards $38,000. Technical indicators: Hourly MACD \u2013 The MACD is slowly losing pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now rising towards the 50 level. Major Support Levels \u2013 $41,200, followed by $40,750. Major Resistance Levels \u2013 $42,000, $42,100 and $42,600.<\/p>\n","protected":false},"author":67,"featured_media":463274,"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-472689","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 Tests Key Support<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
More Downsides In BTC?<\/h2>\n