in

TA: BTC USD Price not out of danger. A pullback is more than likely.

[Bitcoin price](https://cryptopurview.com/live-price/) in the past 4-5 days has declined nearly by 25% from its ATH. It breached multiple key support levels. Currently trading at $44,500, the last rejection was at $52,000.

In the latest trading sessions, the [BTC USD price](https://cryptopurview.com/live-price/) failed to break above the 50% Fib retracement level of $52,100 swing high to $44,150 swing low. [Bitcoin price](https://cryptopurview.com/live-price/) is currently moving lower and likely to retest the $44,000 zone. A break below the support trendline (below $44,000) could put selling pressure with initial support at the $40,000 mark.

If the [Bitcoin USD price](https://cryptopurview.com/live-price/) starts a fresh increase, bulls could face multiple resistance on the upside. The first key resistance is near $48,250. The main resistance is at $50,000. The 4 hour 100-SMA is also at the $50,000 mark.

https://preview.redd.it/7ws4q3rl48k61.png?width=945&format=png&auto=webp&s=5dd06ef63d15326fe34a105c1074eedfeb5ed913

# Technical indicators:

* 4hour MACD for the [BTC USD pair](https://cryptopurview.com/live-price/) shows signs of bear gaining hold, and 4hour [BTC/USD RSI](https://cryptopurview.com/live-price/) is trending below the 50-level.
* Major support at $44,000 and$ 40,000.
* Major resistance is at 48,250, followed by $50,000 and $52,000.



View Reddit by OneBlockAwayICOView Source

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

GIPHY App Key not set. Please check settings

4 Comments

  1. Thanks for sharing this with us! I don’t have experience of TA so it’s fab to learn from simple digested snippets like this. Thanks for your great work! ![gif](emote|emo_pack_1|arrow_up)

Loading…

0

What do you think?

CryptoPotato

Pionex Grid Trading Bot: Automated Crypto Trading Tools

Cathie Wood Says Janet Yellen Doesn't Understand Cryptocurrency, Bitcoin Far More Energy Efficient Than Gold

Cathie Wood Says Janet Yellen Doesn’t Understand Cryptocurrency, Bitcoin Far More Energy Efficient Than Gold