{"id":483814,"date":"2022-02-16T03:08:26","date_gmt":"2022-02-16T03:08:26","guid":{"rendered":"https:\/\/wncen.com\/?p=483814"},"modified":"2024-06-11T14:11:33","modified_gmt":"2024-06-11T14:11:33","slug":"bitcoin-fails-to-test-45k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-fails-to-test-45k\/","title":{"rendered":"TA: Bitcoin Fails to Test $45K, Why Dips Could Be Attractive"},"content":{"rendered":"
Bitcoin attempted a move towards $45,000 but failed against the US Dollar. BTC is correcting lower, but dips might be limited below $42,800.<\/em><\/p>\n Bitcoin price remained supported and extended increase<\/a> above the $44,000 level. BTC even cleared the $44,500 resistance and settled above the 100 hourly simple moving average.<\/p>\n However, there was no test of the $45,000 resistance zone. A high was formed near $44,770 before the price started a downside correction. There was a break below the $44,500 support zone. Besides, there was a break below a short-term rising channel with support near $44,200 on the hourly chart of the BTC\/USD pair.<\/p>\n Bitcoin is trading just below the 23.6% Fib retracement level of the upward move from the $41,573 swing low to $44,770 high. On the upside, the price might face resistance near the broken channel support at $44,200.<\/p>\n <\/a><\/p>\n The first major resistance is near the $44,500 level. A clear move above the $44,500 resistance zone might send the price further higher. The next major resistance is near $45,000, above which the price might rise towards the $45,500 resistance level.<\/p>\n If bitcoin fails to continue higher above the $44,500 resistance zone, it could start a downside correction. An immediate support on the downside is near the $43,800 zone.<\/p>\n\n
Bitcoin Price Faces Resistance<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Dips Limited in BTC?<\/h2>\n