{"id":565742,"date":"2023-12-18T02:55:01","date_gmt":"2023-12-18T02:55:01","guid":{"rendered":"https:\/\/wncen.com\/?p=565742"},"modified":"2024-06-11T11:16:33","modified_gmt":"2024-06-11T11:16:33","slug":"bitcoin-price-drops-again-40k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-drops-again-40k\/","title":{"rendered":"Bitcoin Price Drops Again &#8211; What Could Trigger A Fresh Increase?"},"content":{"rendered":"<p><em>Bitcoin price failed again to gather pace above the $43,500 resistance level. BTC started a fresh decline and might soon revisit the $40,000 support.<\/em><\/p>\n<ul>\n<li>Bitcoin is moving lower below the $42,000 support zone.<\/li>\n<li>The price is trading below $42,000 and the 100 hourly Simple moving average.<\/li>\n<li>There is a key bearish trend line forming with resistance near $41,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could find strong buying interest near the $40,600 and $40,000 levels.<\/li>\n<\/ul>\n<h2>Bitcoin Price Declines Below $42K<\/h2>\n<p>Bitcoin price attempted <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-uptrend-43500\/\" target=\"_blank\" rel=\"noopener \">more gains<\/a> above the $43,000 level. However, BTC failed to clear the $43,500 resistance and formed another rejection pattern.<\/p>\n<p>A high was formed near $43,421 and the price started a fresh decline. There was a move below the $42,200 and $42,000 levels. The price declined below the 50% Fib retracement level of the upward move from the $40,605 swing low to the $43,421 high.<\/p>\n<p>Bitcoin is now trading below $42,000 and the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-rips-higher-43k\/\" target=\"_blank\" rel=\"noopener \">100 hourly Simple moving average<\/a>. There is also a key bearish trend line forming with resistance near $41,800 on the hourly chart of the BTC\/USD pair.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/12\/Bitcoin-13.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-565743\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/12\/Bitcoin-13.png?resize=1024%2C461\" alt=\"Bitcoin Price\" width=\"1024\" height=\"461\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/12\/Bitcoin-13.png?w=1835 1835w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/12\/Bitcoin-13.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/12\/Bitcoin-13.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/12\/Bitcoin-13.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/12\/Bitcoin-13.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/12\/Bitcoin-13.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/12\/Bitcoin-13.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/p>\n<p>On the upside, immediate resistance is near the $41,250 level. The first major resistance is forming near $41,800 and the trend line. A close above the $41,800 resistance might start a steady increase. The next key resistance could be near $42,250, above which BTC could rise toward the $42,800 level. A clear move above the $42,800 level could set the pace for a test of $43,500.<\/p>\n<h2>More Losses In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $41,800 resistance zone, it could continue to move down. Immediate support on the downside is near the $40,600 level or the last swing low.<\/p>\n<p>The next major support is near $40,000. It is close to the 1.236 Fib extension level of the upward move from the $40,605 swing low to the $43,421 high, 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 $38,400 support in the near term.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 20 level.<\/p>\n<p>Major Support Levels \u2013 $40,600, followed by $40,000.<\/p>\n<p>Major Resistance Levels \u2013 $41,250, $41,800, and $42,250.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price failed again to gather pace above the $43,500 resistance level. BTC started a fresh decline and might soon revisit the $40,000 support. Bitcoin is moving lower below the $42,000 support zone. The price is trading below $42,000 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance near $41,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could find strong buying interest near the $40,600 and $40,000 levels. Bitcoin Price Declines Below $42K Bitcoin price attempted more gains above the $43,000 level. However, BTC failed to clear the $43,500 resistance and formed another rejection pattern. A high was formed near $43,421 and the price started a fresh decline. There was a move below the $42,200 and $42,000 levels. The price declined below the 50% Fib retracement level of the upward move from the $40,605 swing low to the $43,421 high. Bitcoin is now trading below $42,000 and the 100 hourly Simple moving average. There is also a key bearish trend line forming with resistance near $41,800 on the hourly chart of the BTC\/USD pair. Source: BTCUSD on TradingView.com On the upside, immediate resistance is near the $41,250 level. The first major resistance is forming near $41,800 and the trend line. A close above the $41,800 resistance might start a steady increase. The next key resistance could be near $42,250, above which BTC could rise toward the $42,800 level. A clear move above the $42,800 level could set the pace for a test of $43,500. More Losses In BTC? If Bitcoin fails to rise above the $41,800 resistance zone, it could continue to move down. Immediate support on the downside is near the $40,600 level or the last swing low. The next major support is near $40,000. It is close to the 1.236 Fib extension level of the upward move from the $40,605 swing low to the $43,421 high, 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 $38,400 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 20 level. Major Support Levels \u2013 $40,600, followed by $40,000. Major Resistance Levels \u2013 $41,250, $41,800, and $42,250.<\/p>\n","protected":false},"author":67,"featured_media":460984,"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-565742","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<title>Bitcoin Price Drops Again - What Could Trigger A Fresh Increase?<\/title>\n<meta name=\"description\" content=\"Bitcoin price failed again to gather pace above the $43,500 resistance level. 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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":"Bitcoin Price Drops Again &#8211; What Could Trigger A Fresh Increase?","url":"http:\/\/wncen.com\/news\/bitcoin-price-drops-again-40k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-price-drops-again-40k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/shutterstock_786496693.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/shutterstock_786496693.jpg?fit=1527%2C1080"},"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","bitcoin price","btcusd","btcusdt","xbtusd"],"dateCreated":"2023-12-18T02:55:01Z","datePublished":"2023-12-18T02:55:01Z","dateModified":"2024-06-11T11:16:33Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Drops Again &#8211; What Could Trigger A Fresh Increase?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-drops-again-40k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-drops-again-40k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_786496693.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_786496693.jpg?fit=1527%2C1080\"},\"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\",\"bitcoin price\",\"btcusd\",\"btcusdt\",\"xbtusd\"],\"dateCreated\":\"2023-12-18T02:55:01Z\",\"datePublished\":\"2023-12-18T02:55:01Z\",\"dateModified\":\"2024-06-11T11:16:33Z\"}<\/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_786496693.jpg?fit=1527%2C1080","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/565742"}],"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=565742"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/565742\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/460984"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=565742"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=565742"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=565742"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}