{"id":486448,"date":"2022-03-21T03:08:53","date_gmt":"2022-03-21T03:08:53","guid":{"rendered":"https:\/\/wncen.com\/?p=486448"},"modified":"2024-06-11T14:18:32","modified_gmt":"2024-06-11T14:18:32","slug":"bitcoin-corrects-lower-40k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-corrects-lower-40k\/","title":{"rendered":"TA: Bitcoin Corrects Lower, Why BTC Remains In Uptrend"},"content":{"rendered":"<p><em>Bitcoin struggled to clear the $42,500 resistance against the US Dollar. BTC is correcting gains and might find bids near the $40,000 support zone.<\/em><\/p>\n<ul>\n<li>Bitcoin started a downside correction from the $42,500 resistance zone.<\/li>\n<li>The price is trading below $41,500 and the 100 hourly simple moving average.<\/li>\n<li>There was a break below a key bullish trend line with support near $41,550 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair might start a fresh increase unless there is a clear move below the $40,000 support zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Dips Below Support<\/h2>\n<p>Bitcoin price made two attempts to clear the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-holds-uptrend-support-40k\/\" target=\"_blank\" rel=\"noopener \">$42,500 resistance zone<\/a>. BTC formed a high near the $42,400 zone and started a downside correction.<\/p>\n<p>The price declined below the $42,000 and $41,500 support levels. It even traded below $41,200 and the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-eyes-upside-break-41-5k\/\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>. Besides, there was a break below a key bullish trend line with support near $41,550 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>The pair is now testing the 50% Fib retracement level of the upward move from the $38,810 swing low to $42,370 high. On the upside, the price is facing resistance near the $41,000 level.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/03\/Bitcoin-15.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-486449\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/03\/Bitcoin-15.png?resize=1950%2C1113\" alt=\"Bitcoin Price\" width=\"1950\" height=\"1113\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/03\/Bitcoin-15.png?w=1950 1950w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/03\/Bitcoin-15.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/03\/Bitcoin-15.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/03\/Bitcoin-15.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/03\/Bitcoin-15.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/03\/Bitcoin-15.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/03\/Bitcoin-15.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 next major resistance could be near the $41,200 zone and the 100 hourly SMA. A successful break and close above the $41,200 level might start a steady increase. In the stated case, the price might rise towards the $42,000 level. Any more gains might send the price towards the key $42,500 barrier in the near term.<\/p>\n<h2>Downside Break in BTC?<\/h2>\n<p>If bitcoin fails to clear the $41,200 resistance zone, it could continue to move down. An immediate support on the downside is near the $40,500 zone.<\/p>\n<p>The next major support is seen near the $40,000 level. It is near the 61.8% Fib retracement level of the upward move from the $38,810 swing low to $42,370 high. A downside break below the $40,000 support zone could start a sharp decline. In this case, the price may perhaps decline towards the $38,500 level.<\/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 50 level.<\/p>\n<p>Major Support Levels \u2013 $40,500, followed by $40,000.<\/p>\n<p>Major Resistance Levels \u2013 $41,200, $41,500 and $42,500.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin struggled to clear the $42,500 resistance against the US Dollar. BTC is correcting gains and might find bids near the $40,000 support zone. Bitcoin started a downside correction from the $42,500 resistance zone. The price is trading below $41,500 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $41,550 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair might start a fresh increase unless there is a clear move below the $40,000 support zone. Bitcoin Price Dips Below Support Bitcoin price made two attempts to clear the $42,500 resistance zone. BTC formed a high near the $42,400 zone and started a downside correction. The price declined below the $42,000 and $41,500 support levels. It even traded below $41,200 and the 100 hourly simple moving average. Besides, there was a break below a key bullish trend line with support near $41,550 on the hourly chart of the BTC\/USD pair. The pair is now testing the 50% Fib retracement level of the upward move from the $38,810 swing low to $42,370 high. On the upside, the price is facing resistance near the $41,000 level. Source: BTCUSD on TradingView.com The next major resistance could be near the $41,200 zone and the 100 hourly SMA. A successful break and close above the $41,200 level might start a steady increase. In the stated case, the price might rise towards the $42,000 level. Any more gains might send the price towards the key $42,500 barrier in the near term. Downside Break in BTC? If bitcoin fails to clear the $41,200 resistance zone, it could continue to move down. An immediate support on the downside is near the $40,500 zone. The next major support is seen near the $40,000 level. It is near the 61.8% Fib retracement level of the upward move from the $38,810 swing low to $42,370 high. A downside break below the $40,000 support zone could start a sharp decline. In this case, the price may perhaps decline towards the $38,500 level. 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 $40,500, followed by $40,000. Major Resistance Levels \u2013 $41,200, $41,500 and $42,500.<\/p>\n","protected":false},"author":67,"featured_media":462414,"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-486448","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>TA: Bitcoin Corrects Lower, Why BTC Remains In Uptrend<\/title>\n<meta name=\"description\" content=\"Bitcoin struggled to clear the $42,500 resistance against the US Dollar. 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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":"TA: Bitcoin Corrects Lower, Why BTC Remains In Uptrend","url":"http:\/\/wncen.com\/news\/bitcoin-corrects-lower-40k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-corrects-lower-40k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/shutterstock_756345946.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/shutterstock_756345946.jpg?fit=1000%2C562"},"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":"2022-03-21T03:08:53Z","datePublished":"2022-03-21T03:08:53Z","dateModified":"2024-06-11T14:18:32Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Bitcoin Corrects Lower, Why BTC Remains In Uptrend\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-corrects-lower-40k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-corrects-lower-40k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_756345946.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_756345946.jpg?fit=1000%2C562\"},\"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\":\"2022-03-21T03:08:53Z\",\"datePublished\":\"2022-03-21T03:08:53Z\",\"dateModified\":\"2024-06-11T14:18:32Z\"}<\/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_756345946.jpg?fit=1000%2C562","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/486448"}],"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=486448"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/486448\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/462414"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=486448"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=486448"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=486448"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}