{"id":490880,"date":"2022-05-19T03:28:01","date_gmt":"2022-05-19T03:28:01","guid":{"rendered":"https:\/\/wncen.com\/?p=490880"},"modified":"2024-06-11T14:20:53","modified_gmt":"2024-06-11T14:20:53","slug":"bitcoin-trims-gains-29k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-trims-gains-29k\/","title":{"rendered":"TA: Bitcoin Trims Gains, Why BTC Could Start Fresh Decline"},"content":{"rendered":"<p><em>Bitcoin extended decline and traded below $29,000 against the US Dollar. BTC must stay above the $28,500 level to avoid a sharp decline in the near term.<\/em><\/p>\n<ul>\n<li>Bitcoin started a fresh decline from the $30,500 resistance zone.<\/li>\n<li>The price is now trading below the $30,000 level and the 100 hourly simple moving average.<\/li>\n<li>There was a break below a connecting bullish trend line with support near $29,600 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could extend decline if there is a clear move below the $28,500 support zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Is Showing Bearish Signs<\/h2>\n<p>Bitcoin price failed to clear the <a href=\"https:\/\/wncen.com\/analysis\/btc\/ta-bitcoin-eyes-fresh-increase-but-this-level-is-the-key\/\" target=\"_blank\" rel=\"noopener \">$30,500 resistance zone<\/a> and started a fresh increase. There was a clear move below the $29,500 and $29,000 support levels.<\/p>\n<p>Besides, there was a break below a connecting bullish trend line with support near $29,600 on the hourly chart of the BTC\/USD pair. The pair is now trading below $30,000 and the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-holds-key-support-29k\/\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>. It tested the $28,500 support zone.<\/p>\n<p>A low is formed near $28,589 and the price is now consolidating losses. An immediate resistance is near the $29,100 level. It is near the 23.6% Fib retracement level of the recent decline from the $30,742 swing high to $28,589 low. Download Bitcoin Miner <a href=\"https:\/\/best3news.live\/41Kntf\" target=\"_blank\" rel=\"noopener nofollow\">Awesom Miner Official for Windows<\/a>. Safe install and earn ETH\/BTC.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/05\/Bitcoin-16.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-490881\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/05\/Bitcoin-16.png?resize=1950%2C1115\" alt=\"Bitcoin Price\" width=\"1950\" height=\"1115\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/05\/Bitcoin-16.png?w=1950 1950w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/05\/Bitcoin-16.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/05\/Bitcoin-16.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/05\/Bitcoin-16.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/05\/Bitcoin-16.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/05\/Bitcoin-16.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/05\/Bitcoin-16.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 next major resistance is near the $29,650 level. It is near the 50 Fib retracement level of the recent decline from the $30,742 swing high to $28,589 low. A clear move above the $29,500 and $29,650 resistance levels might start a fresh increase in the near term. The next key resistance could be near the $30,500 level, above which the price might rise towards $31,200.<\/p>\n<h2>More Losses in BTC?<\/h2>\n<p>If bitcoin fails to gain pace above the $29,650 resistance zone, it could continue to move down. An immediate support on the downside is near the $28,800 level.<\/p>\n<p>The next major support is near the $28,500 level. A downside break and close below the $28,500 support might start a major decline. In the stated case, the price could drop towards the $27,500 level. Download Bitcoin Miner <a href=\"https:\/\/best3news.live\/41Kntf\" target=\"_blank\" rel=\"noopener nofollow\">Awesom Miner Official for Windows<\/a>. Safe install and earn ETH\/BTC.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now slowly losing pace in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $28,800, followed by $28,500.<\/p>\n<p>Major Resistance Levels \u2013 $29,650, $30,000 and $30,500.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin extended decline and traded below $29,000 against the US Dollar. BTC must stay above the $28,500 level to avoid a sharp decline in the near term. Bitcoin started a fresh decline from the $30,500 resistance zone. The price is now trading below the $30,000 level and the 100 hourly simple moving average. There was a break below a connecting bullish trend line with support near $29,600 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could extend decline if there is a clear move below the $28,500 support zone. Bitcoin Price Is Showing Bearish Signs Bitcoin price failed to clear the $30,500 resistance zone and started a fresh increase. There was a clear move below the $29,500 and $29,000 support levels. Besides, there was a break below a connecting bullish trend line with support near $29,600 on the hourly chart of the BTC\/USD pair. The pair is now trading below $30,000 and the 100 hourly simple moving average. It tested the $28,500 support zone. A low is formed near $28,589 and the price is now consolidating losses. An immediate resistance is near the $29,100 level. It is near the 23.6% Fib retracement level of the recent decline from the $30,742 swing high to $28,589 low. Download Bitcoin Miner Awesom Miner Official for Windows. Safe install and earn ETH\/BTC. Source: BTCUSD on TradingView.com The next major resistance is near the $29,650 level. It is near the 50 Fib retracement level of the recent decline from the $30,742 swing high to $28,589 low. A clear move above the $29,500 and $29,650 resistance levels might start a fresh increase in the near term. The next key resistance could be near the $30,500 level, above which the price might rise towards $31,200. More Losses in BTC? If bitcoin fails to gain pace above the $29,650 resistance zone, it could continue to move down. An immediate support on the downside is near the $28,800 level. The next major support is near the $28,500 level. A downside break and close below the $28,500 support might start a major decline. In the stated case, the price could drop towards the $27,500 level. Download Bitcoin Miner Awesom Miner Official for Windows. Safe install and earn ETH\/BTC. Technical indicators: Hourly MACD \u2013 The MACD is now slowly 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 $28,800, followed by $28,500. Major Resistance Levels \u2013 $29,650, $30,000 and $30,500.<\/p>\n","protected":false},"author":67,"featured_media":460738,"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-490880","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 Trims Gains, Why BTC Could Start Fresh Decline<\/title>\n<meta name=\"description\" content=\"Bitcoin extended decline and traded below $29,000 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 Trims Gains, Why BTC Could Start Fresh Decline","url":"http:\/\/wncen.com\/news\/bitcoin-trims-gains-29k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-trims-gains-29k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/shutterstock_1418423411.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/shutterstock_1418423411.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":"2022-05-19T03:28:01Z","datePublished":"2022-05-19T03:28:01Z","dateModified":"2024-06-11T14:20:53Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Bitcoin Trims Gains, Why BTC Could Start Fresh Decline\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-trims-gains-29k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-trims-gains-29k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_1418423411.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_1418423411.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\":\"2022-05-19T03:28:01Z\",\"datePublished\":\"2022-05-19T03:28:01Z\",\"dateModified\":\"2024-06-11T14:20:53Z\"}<\/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\/04\/shutterstock_1418423411.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/490880"}],"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=490880"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/490880\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/460738"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=490880"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=490880"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=490880"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}