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{"id":480051,"date":"2021-12-30T03:08:25","date_gmt":"2021-12-30T03:08:25","guid":{"rendered":"https:\/\/wncen.com\/?p=480051"},"modified":"2024-06-11T11:27:55","modified_gmt":"2024-06-11T11:27:55","slug":"bitcoin-turns-sell-48k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-turns-sell-48k\/","title":{"rendered":"TA: Bitcoin Turns Sell on Rallies Towards $48K, Bears In Action"},"content":{"rendered":"

Bitcoin extended decline below the $47,500 support zone against the US Dollar. BTC could recover, but upsides might be limited above $47,500.<\/em><\/p>\n

\n
Bitcoin started a fresh decline below the $48,500 and $47,500 support levels.<\/li>\n
The price is trading below $48,000 and the 100 hourly simple moving average.<\/li>\n
There is a key declining channel forming with resistance near $47,150 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could correct higher, but upsides might be limited above $48,000 in the near term.<\/li>\n<\/ul>\n
Bitcoin Price Extends Decline<\/h2>\n
Bitcoin price failed to recover above $48,800 and started another decline. BTC traded below the $48,500 and $47,500 levels to move further into a bearish zone<\/a>.<\/p>\n
The decline gained pace below the $47,000 level. A low is formed near $46,120 and the price is now consolidating losses. Bitcoin is trading below $48,000 and the 100 hourly simple moving average<\/a>. An immediate resistance on the upside is near the $46,600 level.<\/p>\n
It is near the 23.6% Fib retracement level of the recent drop from the $48,123 swing high to $46,120 low. The first major resistance is near the $47,200 level.<\/p>\n
There is also a key declining channel forming with resistance near $47,150 on the hourly chart of the BTC\/USD pair. The trend line is close to the 50% Fib retracement level of the recent drop from the $48,123 swing high to $46,120 low.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
A clear move above the $47,500 resistance zone could start a fresh increase. The next major resistance is near the $48,500 level, where the bears might emerge. Any more gains could send the price towards the $50,000 level.<\/p>\n
More Losses In BTC?<\/h2>\n
If bitcoin fails to recover above $47,200, it could continue to move down. An immediate support is near the $46,200 zone. The first major support is near $46,000.<\/p>\n
A downside break below the $46,000 level could push the price towards the $45,500 support. Any more losses may possibly lead the price towards the $45,000 support zone, below which there is a risk of a larger decline in the coming sessions.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is well below the 40 level.<\/p>\n
Major Support Levels \u2013 $46,200, followed by $45,500.<\/p>\n
Major Resistance Levels \u2013 $47,200, $47,500 and $48,500.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin extended decline below the $47,500 support zone against the US Dollar. BTC could recover, but upsides might be limited above $47,500. Bitcoin started a fresh decline below the $48,500 and $47,500 support levels. The price is trading below $48,000 and the 100 hourly simple moving average. There is a key declining channel forming with resistance near $47,150 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could correct higher, but upsides might be limited above $48,000 in the near term. Bitcoin Price Extends Decline Bitcoin price failed to recover above $48,800 and started another decline. BTC traded below the $48,500 and $47,500 levels to move further into a bearish zone. The decline gained pace below the $47,000 level. A low is formed near $46,120 and the price is now consolidating losses. Bitcoin is trading below $48,000 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $46,600 level. It is near the 23.6% Fib retracement level of the recent drop from the $48,123 swing high to $46,120 low. The first major resistance is near the $47,200 level. There is also a key declining channel forming with resistance near $47,150 on the hourly chart of the BTC\/USD pair. The trend line is close to the 50% Fib retracement level of the recent drop from the $48,123 swing high to $46,120 low. Source: BTCUSD on TradingView.com A clear move above the $47,500 resistance zone could start a fresh increase. The next major resistance is near the $48,500 level, where the bears might emerge. Any more gains could send the price towards the $50,000 level. More Losses In BTC? If bitcoin fails to recover above $47,200, it could continue to move down. An immediate support is near the $46,200 zone. The first major support is near $46,000. A downside break below the $46,000 level could push the price towards the $45,500 support. Any more losses may possibly lead the price towards the $45,000 support zone, below which there is a risk of a larger decline in the coming sessions. Technical indicators: Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is well below the 40 level. Major Support Levels \u2013 $46,200, followed by $45,500. Major Resistance Levels \u2013 $47,200, $47,500 and $48,500.<\/p>\n","protected":false},"author":67,"featured_media":459029,"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-480051","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 Turns Sell on Rallies Towards $48K, Bears In Action<\/title>\n<meta name=\"description\" content=\"Bitcoin extended decline below the $47,500 support zone against the US Dollar. 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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 Turns Sell on Rallies Towards $48K, Bears In Action","url":"http:\/\/wncen.com\/news\/bitcoin-turns-sell-48k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-turns-sell-48k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/shutterstock_65884069.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/shutterstock_65884069.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":"2021-12-30T03:08:25Z","datePublished":"2021-12-30T03:08:25Z","dateModified":"2024-06-11T11:27:55Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Bitcoin Turns Sell on Rallies Towards $48K, Bears In Action\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-turns-sell-48k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-turns-sell-48k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_65884069.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_65884069.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\":\"2021-12-30T03:08:25Z\",\"datePublished\":\"2021-12-30T03:08:25Z\",\"dateModified\":\"2024-06-11T11:27:55Z\"}<\/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_65884069.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/480051"}],"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=480051"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/480051\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/459029"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=480051"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=480051"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=480051"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}