Bitcoin Resume Decline, Firwat BTC kéint $ 35K revised

Bitcoin started a fresh decline below $40,000 against the US Dollar. BTC is gaining bearish momentum and could even drop to the $35,000 support.

• Bitcoin huet e frësche Réckgang ënner den $40,000 an $39,000 Niveauen ugefaang.
• De Präis handelt ënner $ 40,000 an den 100 Stonne einfache bewegende Moyenne.
• Et gëtt eng Schlëssel bearish Trendlinn déi sech mat Widderstand no bei $ 38,500 XNUMX $ op der Stonnekaart vum BTC / USD Pair (Datafeed vu Kraken) formt.
• The pair might continue to move down towards $35,000 unless it recovers above $39,000.

Bitcoin Präis verlängert Réckgang

Bitcoin price started another major decline after it failed to stay above the $42,000 support. BTC broke many important supports near $40,000 to enter a bearish zone.

The price gained bearish momentum below the $39,000 level and the 100 hourly simple moving average. It even declined below the $38,000 support level and traded as low as $37,801. The current price action suggests more downsides below $37,800.

If there is an upside correction, bitcoin price might face resistance near the $38,500 level. It is close to the 23.6% Fib retracement level of the recent decline from the $41,920 swing high to $37,801 low.

There is also a key bearish trend line forming with resistance near $38,500 on the hourly chart of the BTC/USD pair. The first key resistance is near the $39,800 level. It is close to the 50% Fib retracement level of the recent decline from the $41,920 swing high to $37,801 low.

Quell: BTCUSD op TradingView.com

A clear move above the trend line resistance and then a move above $39,800 might start a steady increase. The next major resistance for the bulls may possibly be near the $40,500 level and the 100 hourly simple moving average.

Méi Verloschter am BTC?

Wann bitcoin net fäerdeg ass d'$38,500 Resistenzzone ze läschen, kann et weider erof goen. Eng direkt Ënnerstëtzung um Downside ass no bei der $37,800 Zone.

The next major support is seen near the $37,400 level. If there is a downside break below the $37,400 support, the price might start a major decline. In the stated case, there is a risk of a move towards the $35,000 level.

Technesch Indikatiounen:

Hourly MACD - De MACD gewënnt elo Tempo an der bearish Zone.

Hourly RSI (Relative Strength Index) - De RSI fir BTC / USD ass elo no bei dem 30 Niveau.

Major Support Levels - $ 37,800, gefollegt vun $ 37,400.

Major Resistenzniveauen - $ 38,500, $ 39,800 an $ 40,000.