{"id":485115,"date":"2022-03-04T03:08:57","date_gmt":"2022-03-04T03:08:57","guid":{"rendered":"https:\/\/wncen.com\/?p=485115"},"modified":"2024-06-11T14:17:58","modified_gmt":"2024-06-11T14:17:58","slug":"bitcoin-40k-is-the-key","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-40k-is-the-key\/","title":{"rendered":"TA: Bitcoin Showing Early Signs of Fresh Decline, But $40K Is the Key"},"content":{"rendered":"<p><em>Bitcoin started a downside correction and traded below $42,000 against the US Dollar. BTC must stay above $40,000 to avoid a trend reversal.<\/em><\/p>\n<ul>\n<li>Bitcoin started a fresh decline below the $43,000 and $42,000 levels.<\/li>\n<li>The price is trading below $43,000 and the 100 hourly simple moving average.<\/li>\n<li>There was a break below a major bullish trend line with support near $42,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair might correct further, but the $40,000 support is the key.<\/li>\n<\/ul>\n<h2>Bitcoin Price Breaks Support<\/h2>\n<p>Bitcoin price failed to stay above the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-gearing-for-another-lift-off\/\" target=\"_blank\" rel=\"noopener \">$43,000 support zone<\/a>. BTC extended decline and traded below the $42,500 support level.<\/p>\n<p>There was a move below the 23.6% Fib retracement level of the key increase from the $37,030 swing low to $45,350 high. Besides, there was a break below a major bullish trend line with support near $42,500 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>Bitcoin is now trading below $43,000 and the 100 hourly simple moving average. It is testing the $41,200 support level. It is also near the 50% Fib retracement level of the key increase from the $37,030 swing low to $45,350 high.<\/p>\n<p>If the price stays above the $41,200 support, it could attempt a fresh increase. On the upside, an initial resistance is near the $42,000 level. The first key resistance is near the $42,500 level and the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-consolidates-below-45k-2\/\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/03\/Bitcoin-3.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-485116\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/03\/Bitcoin-3.png?resize=1834%2C848\" alt=\"Bitcoin Price\" width=\"1834\" height=\"848\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/03\/Bitcoin-3.png?w=1834 1834w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/03\/Bitcoin-3.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/03\/Bitcoin-3.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/03\/Bitcoin-3.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/03\/Bitcoin-3.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/03\/Bitcoin-3.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/03\/Bitcoin-3.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 $42,500 resistance might set the pace for a fresh increase. In the stated case, the price could surpass the $43,000 resistance zone. The next major resistance for the bulls may possibly be near the $44,200 level.<\/p>\n<h2>More Losses in BTC?<\/h2>\n<p>If bitcoin fails to clear the $42,500 resistance zone, it could continue to move down. An immediate support on the downside is near the $41,200 zone.<\/p>\n<p>The next major support is seen near the $40,200 level. The main support is still near the $40,000 level. If there is a downside break below the $40,000 support, the price might start a major decline.<\/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 now near the 30 level.<\/p>\n<p>Major Support Levels \u2013 $41,200, followed by $40,000.<\/p>\n<p>Major Resistance Levels \u2013 $42,000, $42,500 and $43,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin started a downside correction and traded below $42,000 against the US Dollar. BTC must stay above $40,000 to avoid a trend reversal. Bitcoin started a fresh decline below the $43,000 and $42,000 levels. The price is trading below $43,000 and the 100 hourly simple moving average. There was a break below a major bullish trend line with support near $42,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair might correct further, but the $40,000 support is the key. Bitcoin Price Breaks Support Bitcoin price failed to stay above the $43,000 support zone. BTC extended decline and traded below the $42,500 support level. There was a move below the 23.6% Fib retracement level of the key increase from the $37,030 swing low to $45,350 high. Besides, there was a break below a major bullish trend line with support near $42,500 on the hourly chart of the BTC\/USD pair. Bitcoin is now trading below $43,000 and the 100 hourly simple moving average. It is testing the $41,200 support level. It is also near the 50% Fib retracement level of the key increase from the $37,030 swing low to $45,350 high. If the price stays above the $41,200 support, it could attempt a fresh increase. On the upside, an initial resistance is near the $42,000 level. The first key resistance is near the $42,500 level and the 100 hourly simple moving average. Source: BTCUSD on TradingView.com A clear move above the $42,500 resistance might set the pace for a fresh increase. In the stated case, the price could surpass the $43,000 resistance zone. The next major resistance for the bulls may possibly be near the $44,200 level. More Losses in BTC? If bitcoin fails to clear the $42,500 resistance zone, it could continue to move down. An immediate support on the downside is near the $41,200 zone. The next major support is seen near the $40,200 level. The main support is still near the $40,000 level. If there is a downside break below the $40,000 support, the price might start a major decline. 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 now near the 30 level. Major Support Levels \u2013 $41,200, followed by $40,000. Major Resistance Levels \u2013 $42,000, $42,500 and $43,000.<\/p>\n","protected":false},"author":67,"featured_media":463052,"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-485115","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 Showing Early Signs of Fresh Decline, But $40K Is the Key<\/title>\n<meta name=\"description\" content=\"Bitcoin started a downside correction and traded below $42,000 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 Showing Early Signs of Fresh Decline, But $40K Is the Key","url":"http:\/\/wncen.com\/news\/bitcoin-40k-is-the-key\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-40k-is-the-key\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/Depositphotos_179456522_l-2015.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/Depositphotos_179456522_l-2015.jpg?fit=2000%2C1334"},"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":"2022-03-04T03:08:57Z","datePublished":"2022-03-04T03:08:57Z","dateModified":"2024-06-11T14:17:58Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Bitcoin Showing Early Signs of Fresh Decline, But $40K Is the Key\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-40k-is-the-key\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-40k-is-the-key\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/Depositphotos_179456522_l-2015.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/Depositphotos_179456522_l-2015.jpg?fit=2000%2C1334\"},\"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\":\"2022-03-04T03:08:57Z\",\"datePublished\":\"2022-03-04T03:08:57Z\",\"dateModified\":\"2024-06-11T14:17:58Z\"}<\/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\/Depositphotos_179456522_l-2015.jpg?fit=2000%2C1334","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/485115"}],"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=485115"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/485115\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/463052"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=485115"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=485115"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=485115"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}