BTCUSD on TradingView.com<\/a><\/p>\nThe next key resistance might be the 76.4% Fib retracement level of the downward move from the $42,300 swing high to the $40,606 low at $41,900. A close above the $41,900 resistance might start a steady increase. The next key resistance could be near $42,300, above which BTC could rise toward the $43,000 level. A clear move above the $43,000 level could set the pace for a test of $44,000.<\/p>\n
More Losses In BTC?<\/h2>\n If Bitcoin fails to rise above the $41,250 resistance zone, it could start another decline. Immediate support on the downside is near the $40,600 level.<\/p>\n
The next major support is near $40,000, below which the price might test the $39,500 zone. If there is a move below $39,500, there is a risk of more losses. In the stated case, the price could drop toward the $38,500 support in the near term.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now gaining 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 $40,600, followed by $40,000.<\/p>\n
Major Resistance Levels \u2013 $41,250, $41,900, and $42,300.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price struggled to start a fresh increase above the $42,300 resistance zone. BTC is declining and is now at a risk of more downsides below $40,000. Bitcoin failed to start a fresh increase above the $42,000 resistance zone. The price is trading below $42,500 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance near $41,250 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could extend losses if there is a close below the $40,000 support zone. Bitcoin Price Turns Red Bitcoin price started a fresh increase from the $40,000 support zone. BTC climbed above the $41,500 resistance zone, but it failed to continue higher. The price failed to gain strength above the $42,250 and $42,300 resistance levels. A high was formed near $42,300 and the price started a fresh decline. There was a drop below the $42,000 and $41,500 levels. A low is formed near $40,606 and the price is now consolidating losses. Bitcoin is also trading below $42,500 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $41,200 level. Besides, there is a key bearish trend line forming with resistance near $41,250 on the hourly chart of the BTC\/USD pair. The first major resistance is forming near $41,450. It is near the 50% Fib retracement level of the downward move from the $42,300 swing high to the $40,606 low. Source: BTCUSD on TradingView.com The next key resistance might be the 76.4% Fib retracement level of the downward move from the $42,300 swing high to the $40,606 low at $41,900. A close above the $41,900 resistance might start a steady increase. The next key resistance could be near $42,300, above which BTC could rise toward the $43,000 level. A clear move above the $43,000 level could set the pace for a test of $44,000. More Losses In BTC? If Bitcoin fails to rise above the $41,250 resistance zone, it could start another decline. Immediate support on the downside is near the $40,600 level. The next major support is near $40,000, below which the price might test the $39,500 zone. If there is a move below $39,500, there is a risk of more losses. In the stated case, the price could drop toward the $38,500 support in the near term. Technical indicators: Hourly MACD \u2013 The MACD is now gaining 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 $40,600, followed by $40,000. Major Resistance Levels \u2013 $41,250, $41,900, and $42,300.<\/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":[428,679,1144,78790,76835],"class_list":["post-565143","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n
Bitcoin Price Dips Again and Signals A Larger Pullback To $38K<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n