{"id":488650,"date":"2022-04-22T03:08:28","date_gmt":"2022-04-22T03:08:28","guid":{"rendered":"https:\/\/wncen.com\/?p=488650"},"modified":"2024-06-11T11:55:50","modified_gmt":"2024-06-11T11:55:50","slug":"bitcoin-trims-gains-41k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-trims-gains-41k\/","title":{"rendered":"TA: Bitcoin Trims Gains, Support Turned Resistance At $41K"},"content":{"rendered":"
Bitcoin extended gains above $42,500 against the US Dollar. BTC struggled near $43,000 and started a sharp downside correction.<\/em><\/p>\n Bitcoin price remained well bid above the $41,500 resistance zone<\/a>. BTC gained pace and cleared the $42,000 resistance zone. It even moved above $42,500 and the 100 hourly simple moving average. Download Bitcoin Miner Awesom Miner Official for Windows<\/a>. Safe install and earn ETH\/BTC.<\/p>\n However, the bulls failed to push the price above the $43,000 level. A high was formed near $42,950 and the price reacted to the downside. There was a sharp move below the $42,000 level. Besides, there was a break below a major bullish trend line with support near $41,250 on the hourly chart of the BTC\/USD pair.<\/p>\n There was a break below the 50% Fib retracement level of the upward move from the $38,750 swing low to $42,950 high. Bitcoin is now trading below $41,000 and the 100 hourly simple moving average<\/a>.<\/p>\n The price is now consolidating above the 61.8% Fib retracement level of the upward move from the $38,750 swing low to $42,950 high. An immediate resistance on the upside is near the $40,750 level. The next key resistance could be $40,950 and the 100 hourly simple moving average.<\/p>\n <\/a><\/p>\n To start a strong upward move, the price must settle above the $41,000 zone and the 100 hourly simple moving average. If the bulls succeed, the price could rise towards the $41,800 resistance zone.<\/p>\n\n
Bitcoin Price Dips<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
More Losses in BTC?<\/h2>\n