{"id":569020,"date":"2024-01-11T02:48:59","date_gmt":"2024-01-11T02:48:59","guid":{"rendered":"https:\/\/wncen.com\/?p=569020"},"modified":"2024-06-11T11:01:59","modified_gmt":"2024-06-11T11:01:59","slug":"bitcoin-price-stuck-below-48k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-stuck-below-48k\/","title":{"rendered":"Bitcoin Price Stuck Below $48K Despite ETF Approval, Is This Bearish?"},"content":{"rendered":"<p><em>Bitcoin price remained in a range above the $45,000 support. BTC failed to climb higher above the $48,000 resistance despite approval of spot ETF.<\/em><\/p>\n<ul>\n<li>Bitcoin is still struggling to clear the $47,800 and $48,000 resistance levels.<\/li>\n<li>The price is trading above $45,600 and the 100 hourly Simple moving average.<\/li>\n<li>There was a break above a major contracting triangle with resistance near $46,550 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could start a fresh decline if the bears continue to protect the $48,000 resistance.<\/li>\n<\/ul>\n<h2>Bitcoin Price Upsides Capped<\/h2>\n<p>Bitcoin price remained stable above the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-rejects-48k\/\" target=\"_blank\" rel=\"noopener \">$45,500 resistance zone<\/a>. Finally, the SEC approved all 11 spot ETF. BTC did climb higher above the $46,500 and $46,600 resistance levels after the news.<\/p>\n<p>There was a break above a major contracting triangle with resistance near $46,550 on the hourly chart of the BTC\/USD pair. However, the bears were still active near the $47,350 and $47,800 levels. A high was formed near $47,699 and the price is now showing a few bearish signs.<\/p>\n<p>There was a minor decline below the $47,000 level. Bitcoin declined below the 23.6% Fib retracement level of the recent increase from the $44,333 swing low to the $47,699 high.<\/p>\n<p>The price is now trading above $45,600 and the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-rallies-48k-imminent\/\" target=\"_blank\" rel=\"noopener \">100 hourly Simple moving average<\/a>. On the upside, immediate resistance is near the $47,000 level. The first major resistance is $47,350. A clear move above the $47,350 resistance could send the price toward the $47,800 resistance.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/Bitcoin-9.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-569021\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/Bitcoin-9.png?resize=1024%2C461\" alt=\"Bitcoin Price\" width=\"1024\" height=\"461\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/Bitcoin-9.png?w=1835 1835w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/Bitcoin-9.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/Bitcoin-9.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/Bitcoin-9.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/Bitcoin-9.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/Bitcoin-9.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/01\/Bitcoin-9.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>The next resistance is now forming near the $48,000 level. A close above the $48,000 level could send the price further higher. The next major resistance sits at $49,250.<\/p>\n<h2>Another Decline In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $47,350 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $46,550 level.<\/p>\n<p>The next major support is $46,000 or the 50% Fib retracement level of the recent increase from the $44,333 swing low to the $47,699 high. If there is a move below $46,000, the price could gain bearish momentum. In the stated case, the price could drop toward the $45,150 support in the near term.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now losing pace in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $46,500, followed by $46,000.<\/p>\n<p>Major Resistance Levels \u2013 $47,000, $47,350, and $47,800.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price remained in a range above the $45,000 support. BTC failed to climb higher above the $48,000 resistance despite approval of spot ETF. Bitcoin is still struggling to clear the $47,800 and $48,000 resistance levels. The price is trading above $45,600 and the 100 hourly Simple moving average. There was a break above a major contracting triangle with resistance near $46,550 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start a fresh decline if the bears continue to protect the $48,000 resistance. Bitcoin Price Upsides Capped Bitcoin price remained stable above the $45,500 resistance zone. Finally, the SEC approved all 11 spot ETF. BTC did climb higher above the $46,500 and $46,600 resistance levels after the news. There was a break above a major contracting triangle with resistance near $46,550 on the hourly chart of the BTC\/USD pair. However, the bears were still active near the $47,350 and $47,800 levels. A high was formed near $47,699 and the price is now showing a few bearish signs. There was a minor decline below the $47,000 level. Bitcoin declined below the 23.6% Fib retracement level of the recent increase from the $44,333 swing low to the $47,699 high. The price is now trading above $45,600 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $47,000 level. The first major resistance is $47,350. A clear move above the $47,350 resistance could send the price toward the $47,800 resistance. Source: BTCUSD on TradingView.com The next resistance is now forming near the $48,000 level. A close above the $48,000 level could send the price further higher. The next major resistance sits at $49,250. Another Decline In BTC? If Bitcoin fails to rise above the $47,350 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $46,550 level. The next major support is $46,000 or the 50% Fib retracement level of the recent increase from the $44,333 swing low to the $47,699 high. If there is a move below $46,000, the price could gain bearish momentum. In the stated case, the price could drop toward the $45,150 support in the near term. Technical indicators: Hourly MACD \u2013 The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level. Major Support Levels \u2013 $46,500, followed by $46,000. Major Resistance Levels \u2013 $47,000, $47,350, and $47,800.<\/p>\n","protected":false},"author":67,"featured_media":464592,"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-569020","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 Stuck Below $48K Despite ETF Approval, Is This Bearish?<\/title>\n<meta name=\"description\" content=\"Bitcoin price remained in a range above the $45,000 support. 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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 Stuck Below $48K Despite ETF Approval, Is This Bearish?","url":"http:\/\/wncen.com\/news\/bitcoin-price-stuck-below-48k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-price-stuck-below-48k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/shutterstock_1146095702-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/shutterstock_1146095702-scaled.jpg?fit=2560%2C1810"},"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":"2024-01-11T02:48:59Z","datePublished":"2024-01-11T02:48:59Z","dateModified":"2024-06-11T11:01:59Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Stuck Below $48K Despite ETF Approval, Is This Bearish?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-stuck-below-48k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-stuck-below-48k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_1146095702-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_1146095702-scaled.jpg?fit=2560%2C1810\"},\"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\":\"2024-01-11T02:48:59Z\",\"datePublished\":\"2024-01-11T02:48:59Z\",\"dateModified\":\"2024-06-11T11:01:59Z\"}<\/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\/05\/shutterstock_1146095702-scaled.jpg?fit=2560%2C1810","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/569020"}],"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=569020"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/569020\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/464592"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=569020"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=569020"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=569020"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}