{"id":488014,"date":"2022-04-13T03:08:33","date_gmt":"2022-04-13T03:08:33","guid":{"rendered":"https:\/\/wncen.com\/?p=488014"},"modified":"2024-06-11T14:19:06","modified_gmt":"2024-06-11T14:19:06","slug":"bitcoin-short-term-recovery-to-41-3k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-short-term-recovery-to-41-3k\/","title":{"rendered":"TA: Bitcoin Technical Indicators Suggest Short-Term Recovery To $41.3K"},"content":{"rendered":"
Bitcoin is consolidating above the $39,250 support zone against the US Dollar. BTC could recover if it manages to clear the $40,250 resistance zone.<\/em><\/p>\n Bitcoin price attempted an upside correction<\/a> above the $40,000 level. BTC climbed above the $40,400 level, but the bears remained active.<\/p>\n It seems like the price struggled to stay above the 23.6% Fib retracement level of the key decline from the $43,416 swing high from the $39,240 low. A high was formed near $40,800 and the price started another decline. There was a break below the $40,000 level, but the bulls again defended the $39,250 zone.<\/p>\n It is now consolidating near the $40,000 level, but it is well below the 100 hourly simple moving average<\/a>. An immediate resistance on the upside is near the $40,250 level. There is also a connecting bearish trend line forming with resistance near $40,250 on the hourly chart of the BTC\/USD pair.<\/p>\n A clear move above the trend line could send the price towards $40,800. The next resistance could be near $41,250. It is close to the 50% Fib retracement level of the key decline from the $43,416 swing high from the $39,240 low.<\/p>\n <\/a><\/p>\n If the bulls able to clear the $41,250 and $41,350 resistance levels, the price could accelerate higher. In the stated case, the price may perhaps rise towards the $41,800 resistance zone or the 100 hourly simple moving average.<\/p>\n If bitcoin fails to clear the $40,250 resistance zone, it could continue to move down. An immediate support on the downside is near the $39,600 level.<\/p>\n The next major support is seen near the $39,250 level. A downside break below the $39,250 support zone could accelerate losses. In the stated case, the price could decline towards the $38,500 level or even $38,000.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is slowly gaining pace in the bullish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now just above the 50 level.<\/p>\n Major Support Levels \u2013 $39,600, followed by $39,250.<\/p>\n Major Resistance Levels \u2013 $40,250, $41,250 and $41,800.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin is consolidating above the $39,250 support zone against the US Dollar. BTC could recover if it manages to clear the $40,250 resistance zone. Bitcoin retested the $39,250 support zone and found a strong buying interest. The price is still trading below $41,000 and the 100 hourly simple moving average. There is a connecting bearish trend line forming with resistance near $40,250 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 $40,250. Bitcoin Price Remains Supported Bitcoin price attempted an upside correction above the $40,000 level. BTC climbed above the $40,400 level, but the bears remained active. It seems like the price struggled to stay above the 23.6% Fib retracement level of the key decline from the $43,416 swing high from the $39,240 low. A high was formed near $40,800 and the price started another decline. There was a break below the $40,000 level, but the bulls again defended the $39,250 zone. It is now consolidating near the $40,000 level, but it is well below the 100 hourly simple moving average. An immediate resistance on the upside is near the $40,250 level. There is also a connecting bearish trend line forming with resistance near $40,250 on the hourly chart of the BTC\/USD pair. A clear move above the trend line could send the price towards $40,800. The next resistance could be near $41,250. It is close to the 50% Fib retracement level of the key decline from the $43,416 swing high from the $39,240 low. Source: BTCUSD on TradingView.com If the bulls able to clear the $41,250 and $41,350 resistance levels, the price could accelerate higher. In the stated case, the price may perhaps rise towards the $41,800 resistance zone or the 100 hourly simple moving average. Another Decline in BTC? If bitcoin fails to clear the $40,250 resistance zone, it could continue to move down. An immediate support on the downside is near the $39,600 level. The next major support is seen near the $39,250 level. A downside break below the $39,250 support zone could accelerate losses. In the stated case, the price could decline towards the $38,500 level or even $38,000. Technical indicators: Hourly MACD \u2013 The MACD is slowly gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now just above the 50 level. Major Support Levels \u2013 $39,600, followed by $39,250. Major Resistance Levels \u2013 $40,250, $41,250 and $41,800.<\/p>\n","protected":false},"author":67,"featured_media":460738,"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-488014","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\n
Bitcoin Price Remains Supported<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Another Decline in BTC?<\/h2>\n