Bitcoin price extended its decline below the $45,000 support zone against the US Dollar. BTC is declining and it could soon test $42,000 or $40,000 in the near term.<\/em><\/p>\n

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• Bitcoin started a major decline from well above $50,000 and it even traded close to $45,000<\/li>\n
• The price is now trading well below $45,000 and the 100 hourly simple moving average.<\/li>\n
• There is a key bearish trend line forming with resistance near $45,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
• The pair is likely to find bids near the $42,000 zone or $40,000 in the coming sessions.<\/li>\n<\/ul>\n

  Bitcoin Price Extends Losses<\/h2>\n

  Bitcoin failed to settle above the $50,000 level and started a fresh decline. BTC broke many important supports near $48,000 and $47,000 to move further into a bearish zone<\/a>.<\/p>\n

  The price traded below the $45,000 support level and settled well below the 100 hourly simple moving average. Recently, there was a minor upside correction from the $43,800 zone. The price climbed above the $45,000 level, but it failed to extend gains.<\/p>\n

  <\/a><\/p>\n

  Source: BTCUSD on TradingView.com<\/a><\/pre>\n
  A high was formed near $46,645 before the price started a fresh decline. There was a break below the $45,000 support zone. There is also a key bearish trend line forming with resistance near $45,000 on the hourly chart of the BTC\/USD pair.<\/p>\n
  The pair even broke the recent swing low at $43,869 and it is extending losses. An initial support is near the $43,200 level. It is near the 1.236 Fib extension level of the upward move from the $43,869 low to $46,645 high.<\/p>\n
  The main support is near the $42,000 zone. It is close to the 1.618 Fib extension level of the upward move from the $43,869 low to $46,645 high. Any more losses might call for a test of the $40,000 support zone.<\/p>\n
  Fresh Increase in BTC?<\/h2>\n
  If bitcoin stays above the $42,000 support zone, there are chances of a decent increase<\/a>. An initial resistance on the upside is near the $45,000 level and the trend line.<\/p>\n
  The main resistance is near the $46,500 zone. A close above the $46,500 level is needed to start a steady increase in the coming sessions.<\/p>\n
  Technical indicators:<\/p>\n
  Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone.<\/p>\n
  Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is moving lower towards the 20 level.<\/p>\n
  Major Support Levels \u2013 $42,000, followed by $40,000.<\/p>\n
  Major Resistance Levels \u2013 $45,000, $46,500 and $48,000.<\/p>\n","protected":false},"excerpt":{"rendered":"
  Bitcoin price extended its decline below the $45,000 support zone against the US Dollar. BTC is declining and it could soon test $42,000 or $40,000 in the near term. Bitcoin started a major decline from well above $50,000 and it even traded close to $45,000 The price is now trading well below $45,000 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $45,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is likely to find bids near the $42,000 zone or $40,000 in the coming sessions. Bitcoin Price Extends Losses Bitcoin failed to settle above the $50,000 level and started a fresh decline. BTC broke many important supports near $48,000 and $47,000 to move further into a bearish zone. The price traded below the $45,000 support level and settled well below the 100 hourly simple moving average. Recently, there was a minor upside correction from the $43,800 zone. The price climbed above the $45,000 level, but it failed to extend gains. Source: BTCUSD on TradingView.com A high was formed near $46,645 before the price started a fresh decline. There was a break below the $45,000 support zone. There is also a key bearish trend line forming with resistance near $45,000 on the hourly chart of the BTC\/USD pair. The pair even broke the recent swing low at $43,869 and it is extending losses. An initial support is near the $43,200 level. It is near the 1.236 Fib extension level of the upward move from the $43,869 low to $46,645 high. The main support is near the $42,000 zone. It is close to the 1.618 Fib extension level of the upward move from the $43,869 low to $46,645 high. Any more losses might call for a test of the $40,000 support zone. Fresh Increase in BTC? If bitcoin stays above the $42,000 support zone, there are chances of a decent increase. An initial resistance on the upside is near the $45,000 level and the trend line. The main resistance is near the $46,500 zone. A close above the $46,500 level is needed to start a steady increase in the coming sessions. Technical indicators: Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is moving lower towards the 20 level. Major Support Levels \u2013 $42,000, followed by $40,000. Major Resistance Levels \u2013 $45,000, $46,500 and $48,000.<\/p>\n","protected":false},"author":67,"featured_media":463916,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1144,78790,76835],"class_list":["post-463914","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n