No products in the cart.
Trading Tips
Best trading Tips
Trading Tips
Best trading Tips
TA: Bitcoin Stuck In Range, What Could Spark Key Reversal

Bitcoin price failed to clear the $45,000 resistance against the US Dollar. BTC is declining and it remains at a risk of more downsides below $42,000.
Bitcoin failed to continue higher above the $44,500 and $45,000 resistance levels.
The price is now trading below $43,000 and the 100 hourly simple moving average.
There is a key bearish trend line forming with resistance near $43,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could continue to move down if it stays below the $43,000 pivot level.
Bitcoin Price Fails Again
Bitcoin price started a steady increase above the $43,000 resistance. BTC even climbed above the $44,000 level and the 100 hourly simple moving average, but it failed to extend gains.
There was no upside continuation above $44,500 and $45,000. As a result, the price started a downside correction below the $44,000 and $43,500 levels. The price declined below the 50% Fib retracement level of the upward move from the $40,802 swing low to $44,327 high.
It is now trading below $43,000 and the 100 hourly simple moving average. There is also a key bearish trend line forming with resistance near $43,000 on the hourly chart of the BTC/USD pair.
Bitcoin price is now consolidating near the $42,200 level. The bulls are protecting the 61.8% Fib retracement level of the upward move from the $40,802 swing low to $44,327 high. On the upside, an immediate resistance is near the $42,800 level.
Source: BTCUSD on TradingView.com
The first major resistance is near the $43,000 level and the 100 hourly simple moving average. A close above the $43,000 level could start a fresh increase. Having said that, a clear break above $45,000 is must to spark a key reversal in the near term.
More Downsides In BTC?
If bitcoin fails to clear the $43,000 resistance zone, it could continue to move down. An immediate support on the downside is near the $42,200 level.
The first major support is near the $42,000 zone. A close below the $42,000 support level might lead the price towards the $40,800 zone. Any more losses could increase selling pressure for a move below $40,000.
Technical indicators:
Hourly MACD – The MACD is slowly gaining pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.
Major Support Levels – $42,200, followed by $42,000.
Major Resistance Levels – $42,800, $43,000 and $44,500.
Get the Best Trading Tips
Get Coupons and Offers from the USA
Archives
- August 2022 (166)
- July 2022 (418)
- June 2022 (416)
- May 2022 (369)
- April 2022 (367)
- March 2022 (505)
- February 2022 (455)
- January 2022 (435)
- December 2021 (428)
- November 2021 (367)
- October 2021 (359)
- September 2021 (357)
- August 2021 (126)
- July 2021 (21)
- June 2021 (19)
- May 2021 (4)
- April 2021 (6)
- March 2021 (23)
- February 2021 (23)
- January 2021 (27)
- August 2020 (1)
- July 2020 (7)
- June 2020 (1)
- April 2020 (2)
Recent Posts
- Bearish Signal: Why Bitcoin Miner Sell-Offs May Continue
- Bitcoin Surge Towards $24k As CPI Report Show Inflation Cooling
- Top cryptocurrencies likely to rally in the weekTop cryptocurrencies likely to rally in the week
- Money On The Sidelines: Crypto Traders Accumulate Highest Buying Power In Two Years
- Ethereum Open Interest Nears All-Time Highs Ahead Of Merge