{"id":485474,"date":"2022-03-09T03:08:46","date_gmt":"2022-03-09T03:08:46","guid":{"rendered":"https:\/\/wncen.com\/?p=485474"},"modified":"2024-06-11T11:15:31","modified_gmt":"2024-06-11T11:15:31","slug":"bitcoin-shows-recovery-signs-40k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-shows-recovery-signs-40k\/","title":{"rendered":"TA: Bitcoin Shows Recovery Signs and Could Rally Above $40K"},"content":{"rendered":"<p><em>Bitcoin is correcting losses and trading above $39,000 against the US Dollar. BTC could gain bullish momentum if it clears the $40,000 resistance zone.<\/em><\/p>\n<ul>\n<li>Bitcoin is slowly recovering and trading above the $39,000 zone.<\/li>\n<li>The price is trading above $39,200 and the 100 hourly simple moving average.<\/li>\n<li>There was a break above a major bearish trend line with resistance near $38,980 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair might accelerate higher and could even surpass the $40,000 resistance zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Starts Correction<\/h2>\n<p>Bitcoin price extended decline below the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-faces-uphill-task-40k\/\" target=\"_blank\" rel=\"noopener \">$38,000 support zone<\/a>. However, BTC found support near the $37,150 zone and started a decent recovery wave.<\/p>\n<p>A low was formed near $37,159 before the price corrected higher. There was a move above the $38,000 and $38,500 resistance levels. The price was able to climb above the 76.4% Fib retracement level of the downward move from the $39,545 swing high to $37,159 low.<\/p>\n<p>Besides, there was a break above a major bearish trend line with resistance near $38,980 on the hourly chart of the BTC\/USD pair. Bitcoin is now trading above $39,200 and the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-resumes-decline-35k\/\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>.<\/p>\n<p>On the upside, an immediate resistance is near the $39,545 swing high. The next major resistance is near the $40,000 level. If there is a clear move above the $40,000 resistance zone, the price might accelerate higher. In the stated case, the price could rise towards the $41,000 zone.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/03\/Bitcoin-6.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-485475\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/03\/Bitcoin-6.png?resize=1834%2C848\" alt=\"Bitcoin Price\" width=\"1834\" height=\"848\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/03\/Bitcoin-6.png?w=1834 1834w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/03\/Bitcoin-6.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/03\/Bitcoin-6.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/03\/Bitcoin-6.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/03\/Bitcoin-6.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/03\/Bitcoin-6.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/03\/Bitcoin-6.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>The 1.618 Fib extension level of the downward move from the $39,545 swing high to $37,159 low is also near the $41,000 level. Any more gains might send the price towards the $42,200 level.<\/p>\n<h2>Another Rejection in BTC?<\/h2>\n<p>If bitcoin fails to clear the $40,000 resistance zone, it could start another decline. An immediate support on the downside is near the $39,150 zone.<\/p>\n<p>The next major support is seen near the $38,800 level and the 100 hourly simple moving average. If there is a downside break below the $38,800 support, the price might gain bearish momentum. In the stated case, there is a risk of a move towards the $37,500 level.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $39,150, followed by $38,800.<\/p>\n<p>Major Resistance Levels \u2013 $39,545, $40,000 and $41,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin is correcting losses and trading above $39,000 against the US Dollar. BTC could gain bullish momentum if it clears the $40,000 resistance zone. Bitcoin is slowly recovering and trading above the $39,000 zone. The price is trading above $39,200 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $38,980 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair might accelerate higher and could even surpass the $40,000 resistance zone. Bitcoin Price Starts Correction Bitcoin price extended decline below the $38,000 support zone. However, BTC found support near the $37,150 zone and started a decent recovery wave. A low was formed near $37,159 before the price corrected higher. There was a move above the $38,000 and $38,500 resistance levels. The price was able to climb above the 76.4% Fib retracement level of the downward move from the $39,545 swing high to $37,159 low. Besides, there was a break above a major bearish trend line with resistance near $38,980 on the hourly chart of the BTC\/USD pair. Bitcoin is now trading above $39,200 and the 100 hourly simple moving average. On the upside, an immediate resistance is near the $39,545 swing high. The next major resistance is near the $40,000 level. If there is a clear move above the $40,000 resistance zone, the price might accelerate higher. In the stated case, the price could rise towards the $41,000 zone. Source: BTCUSD on TradingView.com The 1.618 Fib extension level of the downward move from the $39,545 swing high to $37,159 low is also near the $41,000 level. Any more gains might send the price towards the $42,200 level. Another Rejection in BTC? If bitcoin fails to clear the $40,000 resistance zone, it could start another decline. An immediate support on the downside is near the $39,150 zone. The next major support is seen near the $38,800 level and the 100 hourly simple moving average. If there is a downside break below the $38,800 support, the price might gain bearish momentum. In the stated case, there is a risk of a move towards the $37,500 level. Technical indicators: Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level. Major Support Levels \u2013 $39,150, followed by $38,800. Major Resistance Levels \u2013 $39,545, $40,000 and $41,000.<\/p>\n","protected":false},"author":67,"featured_media":464227,"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-485474","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 Shows Recovery Signs and Could Rally Above $40K<\/title>\n<meta name=\"description\" content=\"Bitcoin is correcting losses and trading above $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 Shows Recovery Signs and Could Rally Above $40K","url":"http:\/\/wncen.com\/news\/bitcoin-shows-recovery-signs-40k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-shows-recovery-signs-40k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/shutterstock_530809771.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/shutterstock_530809771.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":"2022-03-09T03:08:46Z","datePublished":"2022-03-09T03:08:46Z","dateModified":"2024-06-11T11:15:31Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Bitcoin Shows Recovery Signs and Could Rally Above $40K\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-shows-recovery-signs-40k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-shows-recovery-signs-40k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_530809771.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_530809771.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\":\"2022-03-09T03:08:46Z\",\"datePublished\":\"2022-03-09T03:08:46Z\",\"dateModified\":\"2024-06-11T11:15:31Z\"}<\/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_530809771.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/485474"}],"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=485474"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/485474\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/464227"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=485474"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=485474"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=485474"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}