{"id":464746,"date":"2021-05-30T04:58:34","date_gmt":"2021-05-30T04:58:34","guid":{"rendered":"https:\/\/wncen.com\/?p=464746"},"modified":"2024-06-11T13:56:03","modified_gmt":"2024-06-11T13:56:03","slug":"bitcoin-resumes-decline-30k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-resumes-decline-30k\/","title":{"rendered":"Bitcoin Resumes Decline, Here\u2019s Why BTC Could Dive To New Monthly Low"},"content":{"rendered":"<p><em>Bitcoin price is showing bearish signs and trading well below $40,000 against the US Dollar. BTC is likely to extend losses below $34,000 and $32,000 in the near term.<\/em><\/p>\n<ul>\n<li>Bitcoin failed to settle above $40,000 and it started a fresh decline below $38,000.<\/li>\n<li>The price is now trading well below $40,000 and the 100 simple moving average (4-hours).<\/li>\n<li>There is a major bearish trend line forming with resistance near $37,500 on the 4-hours chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair is likely to continue lower as long as it is trading below $38,000 and $40,000.<\/li>\n<\/ul>\n<h2>Bitcoin Price Turns Red<\/h2>\n<p>This past week, bitcoin price started a <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-remains-in-range-40k\/\" target=\"_blank\" rel=\"noopener \">decent recovery<\/a> above the $35,000 level against the US Dollar. The BTC\/USD pair even broke the $38,000 resistance level.<\/p>\n<p>However, the price failed to settle above the $40,000 level and it remained well below the 100 simple moving average (4-hours). A high was formed near $40,971 and the price started a <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-btc-remains-at-a-risk-35k\/\" target=\"_blank\" rel=\"noopener \">fresh decline<\/a>. There was a break below the $38,000 support level.<\/p>\n<p>Bitcoin traded below the 50% Fib retracement level of the upward move from the $31,296 swing low to $40,971 high. There is also a major bearish trend line forming with resistance near $37,500 on the 4-hours chart of the BTC\/USD pair.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/Bitcoin-21.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-464747\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/Bitcoin-21.png?resize=1944%2C1149\" alt=\"Bitcoin Price\" width=\"1944\" height=\"1149\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/Bitcoin-21.png?w=1944 1944w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/Bitcoin-21.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/Bitcoin-21.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/Bitcoin-21.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/Bitcoin-21.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/Bitcoin-21.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/Bitcoin-21.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 pair is now testing the 76.4% Fib retracement level of the upward move from the $31,296 swing low to $40,971 high. If there is a downside break below the $34,000 and $33,500 support levels, the price is likely to accelerate lower.<\/p>\n<p>The next major support is near the $31,250 level, below which the price may possibly test the $30,000 support level in the near term.<\/p>\n<h2>Upsides Limited in BTC?<\/h2>\n<p>If bitcoin remains stable above the $33,500 level, it could start a fresh increase. An initial resistance on the upside is near the $36,500 level.<\/p>\n<p>The first major resistance is near the trend line and $38,000. The main resistance is now near $40,000. A close above $40,000 is must to start a steady increase in the near term. The next key barrier could be $45,000.<\/p>\n<p>Technical indicators<\/p>\n<p>4 hours MACD \u2013 The MACD for BTC\/USD is gaining momentum in the bearish zone.<\/p>\n<p>4 hours RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now well below the 50 level.<\/p>\n<p>Major Support Level \u2013 $33,500<\/p>\n<p>Major Resistance Level \u2013 $38,000<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is showing bearish signs and trading well below $40,000 against the US Dollar. BTC is likely to extend losses below $34,000 and $32,000 in the near term. Bitcoin failed to settle above $40,000 and it started a fresh decline below $38,000. The price is now trading well below $40,000 and the 100 simple moving average (4-hours). There is a major bearish trend line forming with resistance near $37,500 on the 4-hours chart of the BTC\/USD pair (data feed from Kraken). The pair is likely to continue lower as long as it is trading below $38,000 and $40,000. Bitcoin Price Turns Red This past week, bitcoin price started a decent recovery above the $35,000 level against the US Dollar. The BTC\/USD pair even broke the $38,000 resistance level. However, the price failed to settle above the $40,000 level and it remained well below the 100 simple moving average (4-hours). A high was formed near $40,971 and the price started a fresh decline. There was a break below the $38,000 support level. Bitcoin traded below the 50% Fib retracement level of the upward move from the $31,296 swing low to $40,971 high. There is also a major bearish trend line forming with resistance near $37,500 on the 4-hours chart of the BTC\/USD pair. Source: BTCUSD on TradingView.com The pair is now testing the 76.4% Fib retracement level of the upward move from the $31,296 swing low to $40,971 high. If there is a downside break below the $34,000 and $33,500 support levels, the price is likely to accelerate lower. The next major support is near the $31,250 level, below which the price may possibly test the $30,000 support level in the near term. Upsides Limited in BTC? If bitcoin remains stable above the $33,500 level, it could start a fresh increase. An initial resistance on the upside is near the $36,500 level. The first major resistance is near the trend line and $38,000. The main resistance is now near $40,000. A close above $40,000 is must to start a steady increase in the near term. The next key barrier could be $45,000. Technical indicators 4 hours MACD \u2013 The MACD for BTC\/USD is gaining momentum in the bearish zone. 4 hours RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now well below the 50 level. Major Support Level \u2013 $33,500 Major Resistance Level \u2013 $38,000<\/p>\n","protected":false},"author":67,"featured_media":464748,"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-464746","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>Bitcoin Resumes Decline, Here\u2019s Why BTC Could Dive To New Monthly Low<\/title>\n<meta name=\"description\" content=\"Bitcoin price is showing bearish signs and trading well below $40,000 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":"Bitcoin Resumes Decline, Here\u2019s Why BTC Could Dive To New Monthly Low","url":"http:\/\/wncen.com\/news\/bitcoin-resumes-decline-30k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-resumes-decline-30k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/Depositphotos_183063862_s-2019-1.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/Depositphotos_183063862_s-2019-1.jpg?fit=999%2C738"},"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":"2021-05-30T04:58:34Z","datePublished":"2021-05-30T04:58:34Z","dateModified":"2024-06-11T13:56:03Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Resumes Decline, Here\\u2019s Why BTC Could Dive To New Monthly Low\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-resumes-decline-30k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-resumes-decline-30k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/Depositphotos_183063862_s-2019-1.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/Depositphotos_183063862_s-2019-1.jpg?fit=999%2C738\"},\"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\":\"2021-05-30T04:58:34Z\",\"datePublished\":\"2021-05-30T04:58:34Z\",\"dateModified\":\"2024-06-11T13:56:03Z\"}<\/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\/Depositphotos_183063862_s-2019-1.jpg?fit=999%2C738","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/464746"}],"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=464746"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/464746\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/464748"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=464746"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=464746"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=464746"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}