{"id":487920,"date":"2022-04-12T03:08:51","date_gmt":"2022-04-12T03:08:51","guid":{"rendered":"https:\/\/wncen.com\/?p=487920"},"modified":"2024-06-11T08:49:22","modified_gmt":"2024-06-11T08:49:22","slug":"bitcoin-dives-below-40k-2","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-dives-below-40k-2\/","title":{"rendered":"TA: Bitcoin Dives Below $40K, Why BTC Could Recover In Short-Term"},"content":{"rendered":"<p><em>Bitcoin gained bearish momentum and even declined below $40,000 against the US Dollar. BTC could recover if it manages to climb above the $40,000 pivot level.<\/em><\/p>\n<ul>\n<li>Bitcoin remained in a bearish zone and extended decline below $40,000.<\/li>\n<li>The price is now trading below $40,000 and the 100 hourly simple moving average.<\/li>\n<li>There is a steep bearish trend line forming with resistance near $39,700 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could start a short-term recovery if there is a move above $40,000.<\/li>\n<\/ul>\n<h2>Bitcoin Price Gains Bearish Pace<\/h2>\n<p>Bitcoin price struggled to recover above the $43,500 level. BTC started <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-resumes-decline-40k\/\" target=\"_blank\" rel=\"noopener \">another decline<\/a> and traded below the $42,000 support level.<\/p>\n<p>The bears took control and pushed the price below the $41,000 level. There was also a clear move below the $40,000 support zone and a close below the <a href=\"https:\/\/wncen.com\/analysis\/eth\/bitcoin-steadies-above-43k\/\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>. The price traded as low as $39,240 and is currently consolidating losses.<\/p>\n<p>An immediate resistance on the upside is near the $39,700 level. There is also a steep bearish trend line forming with resistance near $39,700 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>The first major resistance is forming near the $40,000 level. The next resistance could be near $40,200. It is close to the 23.6% Fib retracement level of the recent decline from the $43,415 swing high from the $39,240 low. A clear move above the $40,000 and $40,200 levels might start a short-term recovery wave.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/04\/Bitcoin-8.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-487921\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/04\/Bitcoin-8.png?resize=1834%2C848\" alt=\"Bitcoin Price\" width=\"1834\" height=\"848\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/04\/Bitcoin-8.png?w=1834 1834w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/04\/Bitcoin-8.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/04\/Bitcoin-8.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/04\/Bitcoin-8.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/04\/Bitcoin-8.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/04\/Bitcoin-8.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/04\/Bitcoin-8.png?w=1140 1140w\" sizes=\"auto, (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>In the stated case, the price may perhaps rise towards the $41,350 resistance zone. It is near the 50% Fib retracement level of the recent decline from the $43,415 swing high from the $39,240 low.<\/p>\n<h2>More Losses in BTC?<\/h2>\n<p>If bitcoin fails to clear the $40,000 resistance zone, it could continue to move down. An immediate support on the downside is near the $39,250 level.<\/p>\n<p>The next major support is seen near the $38,880 level. A downside break below the $38,880 support zone could increase selling pressure. In the stated case, the price could accelerate lower towards the $37,500 level in the coming sessions.<\/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 in the oversold zone.<\/p>\n<p>Major Support Levels \u2013 $39,250, followed by $38,880.<\/p>\n<p>Major Resistance Levels \u2013 $39,700, $40,000 and $40,200.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin gained bearish momentum and even declined below $40,000 against the US Dollar. BTC could recover if it manages to climb above the $40,000 pivot level. Bitcoin remained in a bearish zone and extended decline below $40,000. The price is now trading below $40,000 and the 100 hourly simple moving average. There is a steep bearish trend line forming with resistance near $39,700 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start a short-term recovery if there is a move above $40,000. Bitcoin Price Gains Bearish Pace Bitcoin price struggled to recover above the $43,500 level. BTC started another decline and traded below the $42,000 support level. The bears took control and pushed the price below the $41,000 level. There was also a clear move below the $40,000 support zone and a close below the 100 hourly simple moving average. The price traded as low as $39,240 and is currently consolidating losses. An immediate resistance on the upside is near the $39,700 level. There is also a steep bearish trend line forming with resistance near $39,700 on the hourly chart of the BTC\/USD pair. The first major resistance is forming near the $40,000 level. The next resistance could be near $40,200. It is close to the 23.6% Fib retracement level of the recent decline from the $43,415 swing high from the $39,240 low. A clear move above the $40,000 and $40,200 levels might start a short-term recovery wave. Source: BTCUSD on TradingView.com In the stated case, the price may perhaps rise towards the $41,350 resistance zone. It is near the 50% Fib retracement level of the recent decline from the $43,415 swing high from the $39,240 low. More Losses in BTC? If bitcoin fails to clear the $40,000 resistance zone, it could continue to move down. An immediate support on the downside is near the $39,250 level. The next major support is seen near the $38,880 level. A downside break below the $38,880 support zone could increase selling pressure. In the stated case, the price could accelerate lower towards the $37,500 level in the coming sessions. 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 in the oversold zone. Major Support Levels \u2013 $39,250, followed by $38,880. Major Resistance Levels \u2013 $39,700, $40,000 and $40,200.<\/p>\n","protected":false},"author":67,"featured_media":464763,"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-487920","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 Dives Below $40K, Why BTC Could Recover In Short-Term<\/title>\n<meta name=\"description\" content=\"Bitcoin gained bearish momentum and even declined 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":"TA: Bitcoin Dives Below $40K, Why BTC Could Recover In Short-Term","url":"http:\/\/wncen.com\/news\/bitcoin-dives-below-40k-2\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-dives-below-40k-2\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/shutterstock_1610297188.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/shutterstock_1610297188.jpg?fit=1000%2C556"},"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":"2022-04-12T03:08:51Z","datePublished":"2022-04-12T03:08:51Z","dateModified":"2024-06-11T08:49:22Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Bitcoin Dives Below $40K, Why BTC Could Recover In Short-Term\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-dives-below-40k-2\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-dives-below-40k-2\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_1610297188.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_1610297188.jpg?fit=1000%2C556\"},\"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\":\"2022-04-12T03:08:51Z\",\"datePublished\":\"2022-04-12T03:08:51Z\",\"dateModified\":\"2024-06-11T08:49:22Z\"}<\/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_1610297188.jpg?fit=1000%2C556","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/487920","targetHints":{"allow":["GET"]}}],"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=487920"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/487920\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/464763"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=487920"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=487920"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=487920"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}