Bitcoin failed to stay above the $43,000 support against the US Dollar. BTC is trading in a bearish zone and could continue to move down below $41,200.
Bitcoin is struggling to climb above the $42,500 and $42,800 resistance levels.
The price is trading below $43,000 and the 100 hourly simple moving average.
There is a major bearish trend line forming with resistance near $42,800 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could start a major increase if there is a clear move above the $43,000 resistance.
Bitcoin Price Is Showing Bearish Signs
Bitcoin price failed to accelerate higher above the $43,500 resistance zone. As a result, there was a bearish reaction below the $43,000 pivot level.
The price traded below the $42,500 and $42,000 support levels. It even traded close to $41,500 and settled below the 100 hourly simple moving average. A low was formed near $41,579 before the price started an upside correction.
Bitcoin price was able to recover above the $42,000 resistance zone. There was a break above the 23.6% Fib retracement level of the recent decline from the $43,800 swing high to $41,579 low.
On the upside, an initial resistance is near the $42,500 level. The next major resistance is near the $42,650 level. There is also a major bearish trend line forming with resistance near $42,800 on the hourly chart of the BTC/USD pair.
Source: BTCUSD on TradingView.com
The trend line is near the 50% retracement level of the recent decline from the $43,800 swing high to $41,579 low. A clear move above the $42,800 level might send the price towards the $43,500 resistance. Any more gains may perhaps call for a test of the $44,000 resistance zone. The next major resistance is near the $45,000 level.
More Losses in BTC?
If bitcoin fails to start a fresh increase above $42,800, it could continue to move down. An immediate support on the downside is near the $42,000 zone.
The first major support is seen near the $41,500 zone. A downside break below the $41,500 support zone could increase the chances of more downsides. The next major support is near $40,000, below which the bears might take control.
Technical indicators:
Hourly MACD – The MACD is slowly gaining pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is below the 50 level.
Major Support Levels – $41,500, followed by $41,200.
Major Resistance Levels – $42,650, $42,800 and $43,500.
Bitcoin failed to stay above the $43,000 support against the US Dollar. BTC is trading in a bearish zone and could continue to move down below $41,200.
Bitcoin is struggling to climb above the $42,500 and $42,800 resistance levels.
The price is trading below $43,000 and the 100 hourly simple moving average.
There is a major bearish trend line forming with resistance near $42,800 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could start a major increase if there is a clear move above the $43,000 resistance.
Bitcoin price failed to accelerate higher above the $43,500 resistance zone. As a result, there was a bearish reaction below the $43,000 pivot level.
The price traded below the $42,500 and $42,000 support levels. It even traded close to $41,500 and settled below the 100 hourly simple moving average. A low was formed near $41,579 before the price started an upside correction.
Bitcoin price was able to recover above the $42,000 resistance zone. There was a break above the 23.6% Fib retracement level of the recent decline from the $43,800 swing high to $41,579 low.
On the upside, an initial resistance is near the $42,500 level. The next major resistance is near the $42,650 level. There is also a major bearish trend line forming with resistance near $42,800 on the hourly chart of the BTC/USD pair.
Source: BTCUSD on TradingView.com
The trend line is near the 50% retracement level of the recent decline from the $43,800 swing high to $41,579 low. A clear move above the $42,800 level might send the price towards the $43,500 resistance. Any more gains may perhaps call for a test of the $44,000 resistance zone. The next major resistance is near the $45,000 level.
If bitcoin fails to start a fresh increase above $42,800, it could continue to move down. An immediate support on the downside is near the $42,000 zone.
The first major support is seen near the $41,500 zone. A downside break below the $41,500 support zone could increase the chances of more downsides. The next major support is near $40,000, below which the bears might take control.
Technical indicators:
Hourly MACD – The MACD is slowly gaining pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is below the 50 level.
Major Support Levels – $41,500, followed by $41,200.
Major Resistance Levels – $42,650, $42,800 and $43,500.
Tags: bitcoinbtcusdBTCUSDTxbtusd
FeedzyRead More
Follow Mark on X. Well, well, well—if it isn't Jack Mallers dropping truth bombs like…
The user held BTC from when it was worth $0.06 all the way up to…
Bitcoin has experienced a whirlwind of volatility following its recent all-time high of $93,483 set…
Follow Aaron on Nostr or X. In his Take from Wednesday, Shinobi argued that the surge…
Soccer player George Boyd made over 100 Premier League appearances and has now joined crypto…
The latest price moves in bitcoin (BTC) and crypto markets in context for Nov. 15,…
