{"id":485341,"date":"2022-03-08T03:08:47","date_gmt":"2022-03-08T03:08:47","guid":{"rendered":"https:\/\/wncen.com\/?p=485341"},"modified":"2024-06-11T14:18:04","modified_gmt":"2024-06-11T14:18:04","slug":"bitcoin-faces-uphill-task-40k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-faces-uphill-task-40k\/","title":{"rendered":"TA: Bitcoin Faces Uphill Task, Why BTC Bears Are Still In Control"},"content":{"rendered":"<p><em>Bitcoin remained in a bearish zone below $39,000 against the US Dollar. BTC could recover only if it manages to clear the $40,000 resistance zone.<\/em><\/p>\n<ul>\n<li>Bitcoin is showing bearish signs below the $39,000 and $40,000 resistance levels.<\/li>\n<li>The price is trading below $39,000 and the 100 hourly simple moving average.<\/li>\n<li>There is a key triangle pattern forming with resistance near $39,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair might start a recovery wave if there is a clear move above $39,000 and $40,000.<\/li>\n<\/ul>\n<h2>Bitcoin Price Remains in a Bearish Zone<\/h2>\n<p>Bitcoin price settled below the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-resumes-decline-35k\/\" target=\"_blank\" rel=\"noopener \">$40,000 pivot level<\/a> and the 100 hourly simple moving average. BTC even broke the $38,000 support level and traded as low as $37,159.<\/p>\n<p>The bulls managed to protect the $37,000 support zone. It is now recovering losses and trading above $37,500. There was a move above the $38,000 resistance zone. The price is now testing the 50% Fib retracement level of the recent decline from the $39,545 swing high to $37,159 low.<\/p>\n<p>On the upside, bitcoin price <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-40k-is-the-key\/\" target=\"_blank\" rel=\"noopener \">might face resistance<\/a> near the $38,800 level. It is close to the 61.8% Fib retracement level of the recent decline from the $39,545 swing high to $37,159 low.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/03\/Bitcoin-5.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-485342\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/03\/Bitcoin-5.png?resize=1950%2C1113\" alt=\"Bitcoin Price\" width=\"1950\" height=\"1113\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/03\/Bitcoin-5.png?w=1950 1950w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/03\/Bitcoin-5.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/03\/Bitcoin-5.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/03\/Bitcoin-5.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/03\/Bitcoin-5.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/03\/Bitcoin-5.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/03\/Bitcoin-5.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>There is also a key triangle pattern forming with resistance near $39,000 on the hourly chart of the BTC\/USD pair. The next major resistance is near the $39,200 level and the 100 hourly simple moving average. A clear move above the $39,200 level might open the doors for a test of $40,000. A close above $40,000 could set the pace for more upsides in the near term.<\/p>\n<h2>More Losses in BTC?<\/h2>\n<p>If bitcoin fails to clear the $39,200 resistance zone, it could continue to move down. An immediate support on the downside is near the $38,000 zone.<\/p>\n<p>The next major support is seen near the $37,200 level. If there is a downside break below the $37,200 support, the price might start another decline. In the stated case, there is a risk of a move towards the $35,500 level.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now losing pace in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now near the 50 level.<\/p>\n<p>Major Support Levels \u2013 $38,000, followed by $37,200.<\/p>\n<p>Major Resistance Levels \u2013 $38,800, $39,200 and $40,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin remained in a bearish zone below $39,000 against the US Dollar. BTC could recover only if it manages to clear the $40,000 resistance zone. Bitcoin is showing bearish signs below the $39,000 and $40,000 resistance levels. The price is trading below $39,000 and the 100 hourly simple moving average. There is a key triangle pattern forming with resistance near $39,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair might start a recovery wave if there is a clear move above $39,000 and $40,000. Bitcoin Price Remains in a Bearish Zone Bitcoin price settled below the $40,000 pivot level and the 100 hourly simple moving average. BTC even broke the $38,000 support level and traded as low as $37,159. The bulls managed to protect the $37,000 support zone. It is now recovering losses and trading above $37,500. There was a move above the $38,000 resistance zone. The price is now testing the 50% Fib retracement level of the recent decline from the $39,545 swing high to $37,159 low. On the upside, bitcoin price might face resistance near the $38,800 level. It is close to the 61.8% Fib retracement level of the recent decline from the $39,545 swing high to $37,159 low. Source: BTCUSD on TradingView.com There is also a key triangle pattern forming with resistance near $39,000 on the hourly chart of the BTC\/USD pair. The next major resistance is near the $39,200 level and the 100 hourly simple moving average. A clear move above the $39,200 level might open the doors for a test of $40,000. A close above $40,000 could set the pace for more upsides in the near term. More Losses in BTC? If bitcoin fails to clear the $39,200 resistance zone, it could continue to move down. An immediate support on the downside is near the $38,000 zone. The next major support is seen near the $37,200 level. If there is a downside break below the $37,200 support, the price might start another decline. In the stated case, there is a risk of a move towards the $35,500 level. Technical indicators: Hourly MACD \u2013 The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now near the 50 level. Major Support Levels \u2013 $38,000, followed by $37,200. Major Resistance Levels \u2013 $38,800, $39,200 and $40,000.<\/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-485341","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 Faces Uphill Task, Why BTC Bears Are Still In Control<\/title>\n<meta name=\"description\" content=\"Bitcoin remained in a bearish zone below $39,000 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 Faces Uphill Task, Why BTC Bears Are Still In Control","url":"http:\/\/wncen.com\/news\/bitcoin-faces-uphill-task-40k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-faces-uphill-task-40k\/"},"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":"2022-03-08T03:08:47Z","datePublished":"2022-03-08T03:08:47Z","dateModified":"2024-06-11T14:18:04Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Bitcoin Faces Uphill Task, Why BTC Bears Are Still In Control\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-faces-uphill-task-40k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-faces-uphill-task-40k\\\/\"},\"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\":\"2022-03-08T03:08:47Z\",\"datePublished\":\"2022-03-08T03:08:47Z\",\"dateModified\":\"2024-06-11T14:18:04Z\"}<\/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\/485341"}],"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=485341"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/485341\/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=485341"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=485341"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=485341"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}