{"id":480184,"date":"2022-01-03T03:08:16","date_gmt":"2022-01-03T03:08:16","guid":{"rendered":"https:\/\/wncen.com\/?p=480184"},"modified":"2024-06-11T14:10:19","modified_gmt":"2024-06-11T14:10:19","slug":"bitcoin-consolidates-below-48k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-consolidates-below-48k\/","title":{"rendered":"TA: Bitcoin Consolidates Below $48K: What Could Trigger A Sharp Decline"},"content":{"rendered":"<p><em>Bitcoin is struggling to recover above the $48,000 resistance against the US Dollar. BTC could decline heavily if there is a clear break below $46,000.<\/em><\/p>\n<ul>\n<li>Bitcoin started a consolidation phase below the $48,500 and $48,000 resistance levels.<\/li>\n<li>The price is trading below $48,000 and the 100 hourly simple moving average.<\/li>\n<li>There is a connecting bearish trend line forming with resistance near $47,600 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair remains at a risk of a larger decline unless it surges above the $48,000 barrier.<\/li>\n<\/ul>\n<h2>Bitcoin Price Remains At Risk<\/h2>\n<p>Bitcoin price failed to recover above $48,500 and started <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-turns-sell-48k\/\" target=\"_blank\" rel=\"noopener \">another decline<\/a>. BTC traded below the $48,000 and $47,500 levels to move into a bearish zone.<\/p>\n<p>The decline gained pace below the $47,000 level and the <a href=\"https:\/\/wncen.com\/analysis\/btc\/ta-bitcoin-resumes-decline-indicators-suggest-limited-upside\/\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>. A low was formed near $45,530 before the price started an upside correction. Bitcoin was able to recover above the $46,500 and $47,000 levels.<\/p>\n<p>The price climbed above the 50% Fib retracement level of the key decline from the $48,591 swing high to $45,530 low. However, the price failed to clear the $48,000 resistance zone.<\/p>\n<p>Besides, there is a connecting bearish trend line forming with resistance near $47,600 on the hourly chart of the BTC\/USD pair. The trend line is near the 76.4% Fib retracement level of the key decline from the $48,591 swing high to $45,530 low.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/01\/Bitcoin.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-480185\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/01\/Bitcoin.png?resize=1950%2C1113\" alt=\"Bitcoin Price\" width=\"1950\" height=\"1113\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/01\/Bitcoin.png?w=1950 1950w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/01\/Bitcoin.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/01\/Bitcoin.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/01\/Bitcoin.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/01\/Bitcoin.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/01\/Bitcoin.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/01\/Bitcoin.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>A clear move above the $48,000 resistance zone could start a fresh increase. The next major resistance is near the $48,500 level. Any more gains could send the price towards the $50,000 level in the near term.<\/p>\n<h2>Fresh Decline In BTC?<\/h2>\n<p>If bitcoin fails to recover above $48,000, it could continue to move down. An immediate support is near the $46,400 zone. The first major support is near $46,100.<\/p>\n<p>A downside break below the $46,100 level could push the price towards the $45,500 support. Any more losses may possibly spark a larger decline below the $45,000 support zone. In the stated case, the price may possibly decline towards the $43,200 level.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $46,100, followed by $45,500.<\/p>\n<p>Major Resistance Levels \u2013 $47,500, $48,000 and $48,500.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin is struggling to recover above the $48,000 resistance against the US Dollar. BTC could decline heavily if there is a clear break below $46,000. Bitcoin started a consolidation phase below the $48,500 and $48,000 resistance levels. The price is trading below $48,000 and the 100 hourly simple moving average. There is a connecting bearish trend line forming with resistance near $47,600 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair remains at a risk of a larger decline unless it surges above the $48,000 barrier. Bitcoin Price Remains At Risk Bitcoin price failed to recover above $48,500 and started another decline. BTC traded below the $48,000 and $47,500 levels to move into a bearish zone. The decline gained pace below the $47,000 level and the 100 hourly simple moving average. A low was formed near $45,530 before the price started an upside correction. Bitcoin was able to recover above the $46,500 and $47,000 levels. The price climbed above the 50% Fib retracement level of the key decline from the $48,591 swing high to $45,530 low. However, the price failed to clear the $48,000 resistance zone. Besides, there is a connecting bearish trend line forming with resistance near $47,600 on the hourly chart of the BTC\/USD pair. The trend line is near the 76.4% Fib retracement level of the key decline from the $48,591 swing high to $45,530 low. Source: BTCUSD on TradingView.com A clear move above the $48,000 resistance zone could start a fresh increase. The next major resistance is near the $48,500 level. Any more gains could send the price towards the $50,000 level in the near term. Fresh Decline In BTC? If bitcoin fails to recover above $48,000, it could continue to move down. An immediate support is near the $46,400 zone. The first major support is near $46,100. A downside break below the $46,100 level could push the price towards the $45,500 support. Any more losses may possibly spark a larger decline below the $45,000 support zone. In the stated case, the price may possibly decline towards the $43,200 level. 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 below the 50 level. Major Support Levels \u2013 $46,100, followed by $45,500. Major Resistance Levels \u2013 $47,500, $48,000 and $48,500.<\/p>\n","protected":false},"author":67,"featured_media":464677,"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-480184","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 Consolidates Below $48K: What Could Trigger A Sharp Decline<\/title>\n<meta name=\"description\" content=\"Bitcoin is struggling to recover above the $48,000 resistance against the US Dollar. 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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 Consolidates Below $48K: What Could Trigger A Sharp Decline","url":"http:\/\/wncen.com\/news\/bitcoin-consolidates-below-48k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-consolidates-below-48k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/shutterstock_127419983.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/shutterstock_127419983.jpg?fit=1000%2C769"},"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":"2022-01-03T03:08:16Z","datePublished":"2022-01-03T03:08:16Z","dateModified":"2024-06-11T14:10:19Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Bitcoin Consolidates Below $48K: What Could Trigger A Sharp Decline\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-consolidates-below-48k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-consolidates-below-48k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_127419983.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_127419983.jpg?fit=1000%2C769\"},\"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\":\"2022-01-03T03:08:16Z\",\"datePublished\":\"2022-01-03T03:08:16Z\",\"dateModified\":\"2024-06-11T14:10:19Z\"}<\/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_127419983.jpg?fit=1000%2C769","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/480184"}],"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=480184"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/480184\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/464677"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=480184"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=480184"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=480184"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}