{"id":35777,"date":"2024-02-05T03:52:39","date_gmt":"2024-02-05T07:52:39","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=35777"},"modified":"2024-02-05T03:52:39","modified_gmt":"2024-02-05T07:52:39","slug":"bitcoin-price-stuck-in-range-can-btc-bulls-save-the-day","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2024\/02\/05\/bitcoin-price-stuck-in-range-can-btc-bulls-save-the-day\/","title":{"rendered":"Bitcoin Price Stuck In Range, Can BTC Bulls Save The Day?"},"content":{"rendered":"

Bitcoin price struggled to continue higher above the $43,800 resistance. BTC is moving lower and might decline heavily if it breaks the $41,800 support.<\/em><\/p>\n

Bitcoin price is declining from the $43,800 resistance zone.
\nThe price is trading below $42,800 and the 100 hourly Simple moving average.
\nThere is a key bearish trend line forming with resistance near $42,850 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could continue to decline if there is a clear move below the $41,800 support.<\/p>\n

Bitcoin Price Takes Hit<\/h2>\n

Bitcoin price made another attempt to gain pace above the $43,000 and $43,200 resistance levels<\/a>. However, BTC struggled to extend its gains and recently started another decline below $42,800.<\/p>\n

There was a move below the $42,500 support. A low is formed near $42,232 and the price is now consolidating losses. There is also a key bearish trend line forming with resistance near $42,850 on the hourly chart of the BTC\/USD pair.<\/p>\n

Bitcoin is now trading below $42,800 and the 100 hourly Simple moving average<\/a>. Immediate resistance is near the $42,750 level. It is near the 50% Fib retracement level of the downward wave from the $43,250 swing high to the $42,232 low.<\/p>\n

The next key resistance could be $42,850 and the trend line. The trend line is close to the 61.8% Fib retracement level of the downward wave from the $43,250 swing high to the $42,232 low, above which the price could start a decent increase.<\/p>\n

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

Source: BTCUSD on TradingView.com<\/a><\/p>\n

The next stop for the bulls may perhaps be $43,250. A clear move above the $43,250 resistance could send the price toward the $43,800 resistance. The next resistance is now forming near the $44,200 level. A close above the $44,200 level could push the price further higher. The next major resistance sits at $45,000.<\/p>\n

More Losses In BTC?<\/h2>\n

If Bitcoin fails to rise above the $42,850 resistance zone, it could start another decline. Immediate support on the downside is near the $42,250 level.<\/p>\n

The first major support is $41,800. If there is a close below $41,800, the price could gain bearish momentum. In the stated case, the price could dive toward the $40,500 support.<\/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 now below the 50 level.<\/p>\n

Major Support Levels \u2013 $42,250, followed by $41,800.<\/p>\n

Major Resistance Levels \u2013 $42,750, $42,850, and $43,250.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price struggled to continue higher above the $43,800 resistance. BTC is moving lower and might decline heavily if it breaks the $41,800 support.<\/em><\/p>\n

Bitcoin price is declining from the $43,800 resistance zone.
\nThe price is trading below $42,800 and the 100 hourly Simple moving average.
\nThere is a key bearish trend line forming with resistance near $42,850 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could continue to decline if there is a clear move below the $41,800 support.<\/p>\n

Bitcoin Price Takes Hit<\/h2>\n

Bitcoin price made another attempt to gain pace above the $43,000 and $43,200 resistance levels<\/a>. However, BTC struggled to extend its gains and recently started another decline below $42,800.<\/p>\n

There was a move below the $42,500 support. A low is formed near $42,232 and the price is now consolidating losses. There is also a key bearish trend line forming with resistance near $42,850 on the hourly chart of the BTC\/USD pair.<\/p>\n

Bitcoin is now trading below $42,800 and the 100 hourly Simple moving average<\/a>. Immediate resistance is near the $42,750 level. It is near the 50% Fib retracement level of the downward wave from the $43,250 swing high to the $42,232 low.<\/p>\n

The next key resistance could be $42,850 and the trend line. The trend line is close to the 61.8% Fib retracement level of the downward wave from the $43,250 swing high to the $42,232 low, above which the price could start a decent increase.<\/p>\n

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

Source: BTCUSD on TradingView.com<\/a><\/p>\n

The next stop for the bulls may perhaps be $43,250. A clear move above the $43,250 resistance could send the price toward the $43,800 resistance. The next resistance is now forming near the $44,200 level. A close above the $44,200 level could push the price further higher. The next major resistance sits at $45,000.<\/p>\n

More Losses In BTC?<\/h2>\n

If Bitcoin fails to rise above the $42,850 resistance zone, it could start another decline. Immediate support on the downside is near the $42,250 level.<\/p>\n

The first major support is $41,800. If there is a close below $41,800, the price could gain bearish momentum. In the stated case, the price could dive toward the $40,500 support.<\/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 now below the 50 level.<\/p>\n

Major Support Levels \u2013 $42,250, followed by $41,800.<\/p>\n

Major Resistance Levels \u2013 $42,750, $42,850, and $43,250.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-35777","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/35777","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=35777"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/35777\/revisions"}],"predecessor-version":[{"id":35782,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/35777\/revisions\/35782"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=35777"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=35777"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=35777"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}