TA: Bitcoin Stuck In Range, What Could Spark Key Reversal

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,247,528,253,689	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,247,528,253,689

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	82.79	0.13%	63,494.11	63,493.41	63,494.09

Price Change

Price Change %

Current Price

Bid Price

Offer

82.79

0.13%

63,494.11

63,493.41

63,494.09

High Price	Low Price	Open Price	Prev. Close	52 Week Range
64,333.33	63,327.79	63,472.78	63,411.32	24,750.00 - 73,835.57

High Price

Low Price

Open Price

Prev. Close

52 Week Range

64,333.33

63,327.79

63,472.78

63,411.32

24,750.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	13:22:29	0.000046	63,494.11	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

13:22:29

0.000046

63,494.11

USD

Price x Volume	Volume	Base Symbol	Related Pairs
165,271,139.51	2,591.66	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

165,271,139.51

2,591.66

TA: Bitcoin Stuck In Range, What Could Spark Key Reversal

28/09/2021 4:08am

NEWSBTC

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.

Market Data

News

Trading Tools

Markets

Discover

Hot Features

Follow Feed

Options Flow

Monitor

BTCUSD Bitcoin