{"id":138677,"date":"2021-09-14T04:20:22","date_gmt":"2021-09-14T04:20:22","guid":{"rendered":"https:\/\/precoinnews.com\/?p=138677"},"modified":"2021-09-14T04:20:22","modified_gmt":"2021-09-14T04:20:22","slug":"ta-bitcoin-topside-bias-vulnerable-if-it-continues-to-struggle-below-46k","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/ta-bitcoin-topside-bias-vulnerable-if-it-continues-to-struggle-below-46k\/","title":{"rendered":"TA: Bitcoin Topside Bias Vulnerable If It Continues To Struggle Below $46K"},"content":{"rendered":"<p><em>Bitcoin price is facing hurdles near the $46,000 zone against the US Dollar. BTC could start a major decline if it continues to struggle near the $46,000 zone.<\/em><\/p>\n<ul>\n<li>Bitcoin is facing a major resistance near $45,600 and $46,200 levels.<\/li>\n<li>The price is now trading below $45,500 and the 100 hourly simple moving average.<\/li>\n<li>There is a major bearish trend line forming with resistance near $46,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair must clear the $46,000 resistance zone to start a steady increase in the near term.<\/li>\n<\/ul>\n<h2>Bitcoin Price Faces Hurdles<\/h2>\n<p>Bitcoin price extended its decline below the $45,000 level. BTC even spiked below the $44,200 support level and settled below the 100 hourly simple moving average.<\/p>\n<p>However, there was no downside continuation below $43,500. A low was formed near $43,374 and the price started a steady recovery. There was a break above the $44,200 resistance level. The price broke the 50% Fib retracement level of the recent drop from the $46,879 high to $43,374 low.<\/p>\n<p>It is now facing a strong resistance near $45,500 and the 100 hourly simple moving average. The 61.8% Fib retracement level of the recent drop from the $46,879 high to $43,374 low is also acting as a resistance near the $45,550 level.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2021\/09\/Bitcoin-9.png\"><\/p>\n<p>Source: BTCUSD on TradingView.com<\/p>\n<p>The main resistance is still near the $46,000 zone. To move into a positive zone, bitcoin must clear the 100 hourly SMA, the trend line zone, and $46,000. The next major resistance is forming near the $47,350 level, above which the price could rise towards the key $48,500 resistance in the near term.<\/p>\n<h2>More Losses In BTC?<\/h2>\n<p>If bitcoin fails to clear the $46,000 resistance zone, it could resume its decline. An immediate support on the downside is near the $44,600 level.<\/p>\n<p>The first major support is near the $44,200 level. The next key support seems to be forming near the $43,400 level. If there is a downside break below the $43,400 support zone, the price could extend its decline. The next major support on the downside could be $42,000.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is slowly losing pace in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now just above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $44,200, followed by $43,400.<\/p>\n<p>Major Resistance Levels \u2013 $45,550, $46,000 and $46,200.<\/p>\n<p>Source: <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-vulnerable-struggle-below-46k\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is facing hurdles near the<\/p>\n","protected":false},"author":3,"featured_media":138676,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>TA: Bitcoin Topside Bias Vulnerable If It Continues To Struggle Below $46K - 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