{"id":489616,"date":"2022-05-04T03:28:18","date_gmt":"2022-05-04T03:28:18","guid":{"rendered":"https:\/\/wncen.com\/?p=489616"},"modified":"2024-06-11T11:33:46","modified_gmt":"2024-06-11T11:33:46","slug":"bitcoin-break-below-37k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-break-below-37k\/","title":{"rendered":"TA: Bitcoin Price Technical Indicators Suggest Break Below $37K"},"content":{"rendered":"
Bitcoin is facing resistance near $38,200 against the US Dollar. BTC remains at a risk of more downsides unless there is a move above the $39,000 resistance.<\/em><\/p>\n Bitcoin price attempted an upside break above the $38,800 and $39,000 resistance levels<\/a>. However, BTC struggled to clear the $39,000 resistance zone and started a fresh decline. Download Bitcoin Miner Awesom Miner Official for Windows<\/a>. Safe install and earn ETH\/BTC.<\/p>\n A swing high was formed near $39,170 and the price started a fresh decline. There was a clear move below the $38,800 and $38,500 levels. The bears even pushed the price below the $38,000 level and there was a close below the 100 hourly simple moving average<\/a>.<\/p>\n A low is formed near $37,507 and the price is now correcting losses. There was a move above the 23.6% Fib retracement level of the recent decline from the $39,169 swing high to $37,507 low.<\/p>\n Bitcoin price is now facing resistance near the $38,350 level and the 100 hourly simple moving average. There is also a key bearish trend line with resistance near $38,350 on the hourly chart of the BTC\/USD pair. The trend line is near the 50% Fib retracement level of the recent decline from the $39,169 swing high to $37,507 low.<\/p>\n <\/a><\/p>\n The next key resistance could be near the $38,800 zone. A close above the $38,800 resistance could increase the chances of a clear move above the $39,000 resistance zone.<\/p>\n If bitcoin fails to clear the $38,350 resistance zone, it could continue to move down. An immediate support on the downside is near the $37,700 level.<\/p>\n\n
Bitcoin Price Remains In Downtrend<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
More Losses in BTC?<\/h2>\n