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{"id":485893,"date":"2022-03-14T03:08:23","date_gmt":"2022-03-14T03:08:23","guid":{"rendered":"https:\/\/wncen.com\/?p=485893"},"modified":"2024-06-11T14:18:18","modified_gmt":"2024-06-11T14:18:18","slug":"bitcoin-consolidates-above-37-5k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-consolidates-above-37-5k\/","title":{"rendered":"TA: Bitcoin Consolidates Above $37.5K, Why BTC Could Nosedive"},"content":{"rendered":"

Bitcoin is trading in a bearish zone below $39,000 against the US Dollar. BTC could accelerate lower if it continues to struggle below $39,500.<\/em><\/p>\n

\n
Bitcoin is showing bearish signs below the $40,000 and $39,000 levels.<\/li>\n
The price is trading below $39,500 and the 100 hourly simple moving average.<\/li>\n
There is a crucial bearish trend line forming with resistance near $38,550 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair might accelerate lower unless the bulls able to push the price above $39,550.<\/li>\n<\/ul>\n
Bitcoin Price Keeps Struggling<\/h2>\n
Bitcoin price remained in a bearish zone<\/a> below the $40,000 support zone. BTC attempted a recovery wave from the $38,500 zone, but the price stayed below the$39,550 resistance.<\/p>\n
Recently, the price saw a fresh decline from the $39,550 resistance zone and the 100 hourly simple moving average<\/a>. There was a clear move below the $38,800 and $38,500 support levels. The decline extended below the $38,000 support zone.<\/p>\n
A low is formed near $37,625 and the price is now consolidating losses. Bitcoin is slowly moving higher and trading above the 23.6% Fib retracement level of the recent decline from the $39,499 swing high to $37,625 low.<\/p>\n
The first major resistance on the upside is near the $38,550 zone. There is also a crucial bearish trend line forming with resistance near $38,550 on the hourly chart of the BTC\/USD pair. The trend line coincides with the 50% Fib retracement level of the recent decline from the $39,499 swing high to $37,625 low.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
If there is a clear move above the $38,550 resistance zone, the price might rise further. The next major resistance sits near the $39,550 level, above which there are chances of a steady increase. In the stated case, the price could even attempt a move above the $40,000 resistance zone.<\/p>\n
More Losses in BTC?<\/h2>\n
If bitcoin fails to clear the $38,550 resistance zone, it could continue to move down. An immediate support on the downside is near the $37,800 zone.<\/p>\n
The next major support is seen near the $37,650 level. The main support sits near the $37,150 level. If there is a downside break below the $37,150 support, the price might gain bearish momentum. In the stated case, it could nosedive towards the $36,500 level or even $36,000.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now losing pace in the bearish 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 $37,650, followed by $37,150.<\/p>\n
Major Resistance Levels \u2013 $38,550, $39,550 and $40,000.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin is trading in a bearish zone below $39,000 against the US Dollar. BTC could accelerate lower if it continues to struggle below $39,500. Bitcoin is showing bearish signs below the $40,000 and $39,000 levels. The price is trading below $39,500 and the 100 hourly simple moving average. There is a crucial bearish trend line forming with resistance near $38,550 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair might accelerate lower unless the bulls able to push the price above $39,550. Bitcoin Price Keeps Struggling Bitcoin price remained in a bearish zone below the $40,000 support zone. BTC attempted a recovery wave from the $38,500 zone, but the price stayed below the$39,550 resistance. Recently, the price saw a fresh decline from the $39,550 resistance zone and the 100 hourly simple moving average. There was a clear move below the $38,800 and $38,500 support levels. The decline extended below the $38,000 support zone. A low is formed near $37,625 and the price is now consolidating losses. Bitcoin is slowly moving higher and trading above the 23.6% Fib retracement level of the recent decline from the $39,499 swing high to $37,625 low. The first major resistance on the upside is near the $38,550 zone. There is also a crucial bearish trend line forming with resistance near $38,550 on the hourly chart of the BTC\/USD pair. The trend line coincides with the 50% Fib retracement level of the recent decline from the $39,499 swing high to $37,625 low. Source: BTCUSD on TradingView.com If there is a clear move above the $38,550 resistance zone, the price might rise further. The next major resistance sits near the $39,550 level, above which there are chances of a steady increase. In the stated case, the price could even attempt a move above the $40,000 resistance zone. More Losses in BTC? If bitcoin fails to clear the $38,550 resistance zone, it could continue to move down. An immediate support on the downside is near the $37,800 zone. The next major support is seen near the $37,650 level. The main support sits near the $37,150 level. If there is a downside break below the $37,150 support, the price might gain bearish momentum. In the stated case, it could nosedive towards the $36,500 level or even $36,000. 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 below the 50 level. Major Support Levels \u2013 $37,650, followed by $37,150. Major Resistance Levels \u2013 $38,550, $39,550 and $40,000.<\/p>\n","protected":false},"author":67,"featured_media":459296,"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-485893","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\nTA: Bitcoin Consolidates Above $37.5K, Why BTC Could Nosedive<\/title>\n<meta name=\"description\" content=\"Bitcoin is trading in a bearish zone below $39,000 against the US Dollar. 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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 Above $37.5K, Why BTC Could Nosedive","url":"http:\/\/wncen.com\/news\/bitcoin-consolidates-above-37-5k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-consolidates-above-37-5k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/shutterstock_1324745120.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/shutterstock_1324745120.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":"2022-03-14T03:08:23Z","datePublished":"2022-03-14T03:08:23Z","dateModified":"2024-06-11T14:18:18Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Bitcoin Consolidates Above $37.5K, Why BTC Could Nosedive\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-consolidates-above-37-5k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-consolidates-above-37-5k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_1324745120.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_1324745120.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\":\"2022-03-14T03:08:23Z\",\"datePublished\":\"2022-03-14T03:08:23Z\",\"dateModified\":\"2024-06-11T14:18:18Z\"}<\/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\/03\/shutterstock_1324745120.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/485893"}],"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=485893"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/485893\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/459296"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=485893"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=485893"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=485893"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}