{"id":480579,"date":"2022-01-07T03:08:01","date_gmt":"2022-01-07T03:08:01","guid":{"rendered":"https:\/\/wncen.com\/?p=480579"},"modified":"2024-06-11T14:10:27","modified_gmt":"2024-06-11T14:10:27","slug":"bitcoin-consolidates-below-45k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-consolidates-below-45k\/","title":{"rendered":"TA: Bitcoin Consolidates Below $45K: What Could Trigger Another Decline"},"content":{"rendered":"
Bitcoin extended decline below the $44,000 level against the US Dollar. BTC remains at a risk of more downsides unless there is a break above $45,000.<\/em><\/p>\n Bitcoin price started a major decline<\/a> below the $46,500 and $45,000 support levels. BTC remained in a bearish zone and there was a move below the $44,000 level.<\/p>\n The price settled below the $43,500 level and the 100 hourly simple moving average<\/a>. There was a clear move below the $43,000 level and the price traded as low as $42,424. It is now consolidating losses above the $42,500 level.<\/p>\n An immediate resistance is near the $43,500 level. It is near the 23.6% Fib retracement level of the recent drop from the $47,065 swing high to $42,424 low. There is also a key bearish continuation pattern forming with resistance near $43,500 on the hourly chart of the BTC\/USD pair.<\/p>\n The first major resistance on the upside is near the $44,500 level. The next major resistance is near the $44,750 level. It is near the 50% Fib retracement level of the recent drop from the $47,065 swing high to $42,424 low.<\/p>\n <\/a><\/p>\n A clear move above the $44,750 resistance zone could start a decent recovery wave. The next major resistance is near the $45,600 level and the 100 hourly SMA, above which the bulls might gain strength.<\/p>\n If bitcoin fails to recover above $44,500, it could continue to move down. An immediate support is near the $42,650 zone. The first major support is near $42,500 and the recent low.<\/p>\n A downside break below the $42,424 low could push the price further lower. In the stated case, the price may possibly decline towards the $40,000 level in the near term.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is now losing pace in the bullish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level.<\/p>\n Major Support Levels \u2013 $42,500, followed by $40,000.<\/p>\n Major Resistance Levels \u2013 $43,500, $44,000 and $44,750.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin extended decline below the $44,000 level against the US Dollar. BTC remains at a risk of more downsides unless there is a break above $45,000. Bitcoin started a major decline below the key $45,500 support zone. The price is trading below $44,000 and the 100 hourly simple moving average. There is a key bearish continuation pattern forming with resistance near $43,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair might face resistance if there is a move above the $44,000 level. Bitcoin Price Remains At Risk Bitcoin price started a major decline below the $46,500 and $45,000 support levels. BTC remained in a bearish zone and there was a move below the $44,000 level. The price settled below the $43,500 level and the 100 hourly simple moving average. There was a clear move below the $43,000 level and the price traded as low as $42,424. It is now consolidating losses above the $42,500 level. An immediate resistance is near the $43,500 level. It is near the 23.6% Fib retracement level of the recent drop from the $47,065 swing high to $42,424 low. There is also a key bearish continuation pattern forming with resistance near $43,500 on the hourly chart of the BTC\/USD pair. The first major resistance on the upside is near the $44,500 level. The next major resistance is near the $44,750 level. It is near the 50% Fib retracement level of the recent drop from the $47,065 swing high to $42,424 low. Source: BTCUSD on TradingView.com A clear move above the $44,750 resistance zone could start a decent recovery wave. The next major resistance is near the $45,600 level and the 100 hourly SMA, above which the bulls might gain strength. More Downsides in BTC? If bitcoin fails to recover above $44,500, it could continue to move down. An immediate support is near the $42,650 zone. The first major support is near $42,500 and the recent low. A downside break below the $42,424 low could push the price further lower. In the stated case, the price may possibly decline towards the $40,000 level in the near term. Technical indicators: Hourly MACD \u2013 The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level. Major Support Levels \u2013 $42,500, followed by $40,000. Major Resistance Levels \u2013 $43,500, $44,000 and $44,750.<\/p>\n","protected":false},"author":67,"featured_media":464748,"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-480579","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 Remains At Risk<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
More Downsides in BTC?<\/h2>\n