The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

      Blockchain

      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

      Blockchain

      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

      12/28/2021

      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

      12/28/2021

  • Market Cap
Analysis

Bitcoin Starts Fresh Decrease, Why BTC Could Test $55k

by Miki 11/25/2021
by Miki 11/25/2021 0 comment

Bitcoin failed to clear the $60,000 resistance zone against the US Dollar. BTC is moving lower, and it could extend losses towards $55,000 in the near term.

  • Bitcoin struggled to recover above the $60,000 and $60,500 resistance levels.
  • The price is now trading below $58,500 and the 100 hourly simple moving average.
  • There was a break below a key bullish trend line with support near $59,200 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair is declining, and it seems like the bears are aiming more losses below $56,500.

Bitcoin Price Turns Red

Bitcoin price attempted a recovery wave above the $58,500 resistance zone. BTC spiked above the $60,000 zone, but there was no real bullish momentum.

As a result, the price started a fresh decline below the $59,200 level. The price traded below the $58,500 support zone and the 100 hourly simple moving average. Besides, there was a break below a key bullish trend line with support near $59,200 on the hourly chart of the BTC/USD pair.

Bitcoin traded below the 50% Fib retracement level of the upward wave from the $55,674 swing low to $60,050 high. It is now trading below $58,500 and the 100 hourly simple moving average.

An immediate support is near the $57,350 level. It is close to the 61.8% Fib retracement level of the upward wave from the $55,674 swing low to $60,050 high. The first major support is now forming near the $56,500 level. A downside break below the $56,500 level could spark more losses.

Bitcoin Price

Source: BTCUSD on TradingView.com

The main support is near the $55,500 and $55,000 levels. Any more losses may perhaps set the pace for a move towards the $52,000 support zone in the near term.

Fresh Recovery In BTC?

If bitcoin stays above the $56,500 support, it could start a fresh increase. On the upside, an initial resistance is near the $58,000 level.

The first key resistance is near the $58,500 level and the 100 hourly simple moving average. The next major resistance sits near the $59,200 level, above which the price might rise towards the $60,000 level. Any more gains could lead the price towards the $61,200 level.

Technical indicators:

Hourly MACD – The MACD is now 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 – $56,500, followed by $55,500.

Major Resistance Levels – $58,500, $59,200 and $60,000.

Source link

Views: 0
55KBitcoinBTCDecreaseFreshStartstest
Share
0
FacebookTwitterPinterestEmail
previous post
First Play-to-Earn Hyper-Casual Gaming Platform
next post
Africa Blockchain University Partners with YIELD App to Enhance NFT Education

Related Posts

Bitcoin is Struggling, But It’s Too Early to...

12/29/2021

Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

12/29/2021

Ethereum Recovery Could Soon Fade If ETH Fails...

12/28/2021

Charles Hoskinson Shares Cardano Plans for 2022

12/28/2021

Bitcoin Prints Bullish Pattern, Why BTC Could Surge...

12/27/2021

Ethereum Breaks Key Hurdle, Why There Could Be...

12/26/2021

Could Bitcoin Benefit From A Santa Claus Rally?

12/25/2021

$8.2M Lost as Visor Finance Suffers Latest DeFi...

12/25/2021

Bitcoin Gains Momentum, Why Rally Isn’t Over Yet

12/24/2021

2021 in Review: the Top 10 Crypto Moments...

12/24/2021

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

For security, use of Google's reCAPTCHA service is required which is subject to the Google Privacy Policy and Terms of Use.

I agree to these terms.

Recent Posts

  • Are Solana’s bulls really strong enough to halt further decline

    12/29/2021
  • Elon Musk thinks this individual could be the potential Bitcoin (BTC) creator Satoshi

    12/29/2021
  • Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

    12/29/2021
  • Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

    12/29/2021
  • Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

    12/29/2021

Categories

  • All Alt Coin (2,280)
  • Analysis (312)
  • Bitcoin (1,302)
  • Blockchain (1,068)
  • Dogecoin (700)
  • Ethereum (304)
  • Learn (139)
  • Ripple (149)

About Us

About Us

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, blockchain, Market, and more.

Featured Posts

  • CME Group to launch micro Ethereum futures in December

  • Enraged Protesters burn down Bitcoin ATM

  • Grubhub Announces Free Bitcoin Rewards On Food Deliveries

Recent Posts

  • Are Solana’s bulls really strong enough to halt further decline

  • Elon Musk thinks this individual could be the potential Bitcoin (BTC) creator Satoshi

  • Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

Categories

  • All Alt Coin (2,280)
  • Analysis (312)
  • Bitcoin (1,302)
  • Blockchain (1,068)
  • Dogecoin (700)
  • Ethereum (304)
  • Learn (139)
  • Mining (0)
  • Ripple (149)
  • Uncategorized (0)
  • Facebook
  • Instagram
  • Linkedin
  • Contact
  • Privacy Policy
  • Terms & Conditions

@2021 -thecryptonewsweb.com - All Right Reserved.

The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

      Blockchain

      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

      Blockchain

      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

      12/28/2021

      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

      12/28/2021

  • Market Cap
  • RelevantRelevant(REL)$0.825.35%
  • Heart NumberHeart Number(HTN)$0.000553-30.47%
  • TadpoleTadpole(TAD)$7.32-1.76%
  • SEENSEEN(SEEN)$2.05-2.27%
  • EvedoEvedo(EVED)$0.082301-0.80%
  • MarginswapMarginswap(MFI)$0.184214-2.17%
  • SakeTokenSakeToken(SAKE)$0.0127234.37%
  • WTF TokenWTF Token(WTF)$0.0113500.16%
  • BNSD FinanceBNSD Finance(BNSD)$0.005460-5.83%
  • RobotinaRobotina(ROX)$0.00266138.50%
  • CageCage(C4G3)$0.005010-3.67%
  • YAM v2YAM v2(YAMV2)$4.70-1.41%
  • PolkaBridgePolkaBridge(PBR)$0.439876-7.02%
  • DSLA ProtocolDSLA Protocol(DSLA)$0.003681-6.85%
  • lympoLympo(LYM)$0.004392-4.43%
  • Falcon ProjectFalcon Project(FNT)$0.000366-2.23%
  • DYORDYOR(DYOR)$0.00002020.53%
  • TICOEX TokenTICOEX Token(TICO)$0.0013640.52%
  • MMS Cash TokenMMS Cash Token(MCASH)$1.000.00%
  • bitcoinBitcoin(BTC)$29,089.00-2.44%
  • ethereumEthereum(ETH)$1,771.48-8.90%
  • tetherTether(USDT)$1.000.15%
  • usd-coinUSD Coin(USDC)$1.000.06%
  • binancecoinBNB(BNB)$303.21-7.81%
  • rippleXRP(XRP)$0.399341-2.08%
  • Binance USDBinance USD(BUSD)$1.000.41%
  • cardanoCardano(ADA)$0.470576-8.40%
  • SolanaSolana(SOL)$42.85-10.90%
  • dogecoinDogecoin(DOGE)$0.079032-4.87%
  • polkadotPolkadot(DOT)$9.05-8.42%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$29,073.00-2.42%
  • tronTRON(TRX)$0.080456-5.39%
  • Lido Staked EtherLido Staked Ether(STETH)$1,732.87-8.92%
  • VectoriumVectorium(VECT)$425.81-3.49%
  • AvalancheAvalanche(AVAX)$23.07-16.16%
  • daiDai(DAI)$1.000.13%
  • Power CashPower Cash(PRCH)$0.017570881.24%
  • AlexAlex(ALEX)$0.068435-0.04%
  • Shiba InuShiba Inu(SHIB)$0.000011-9.36%
  • LADZLADZ(LADZ)$0.0686894.36%
  • leo-tokenLEO Token(LEO)$4.87-1.26%
  • litecoinLitecoin(LTC)$63.10-7.26%
  • CronosCronos(CRO)$0.169021-8.45%
  • matic-networkPolygon(MATIC)$0.59-9.54%
  • HederaHedera(HBAR)$0.389473-3.44%
  • FTX TokenFTX Token(FTT)$27.28-5.76%
  • RareRare(RARE)$0.0461220.00%
  • NEAR ProtocolNEAR Protocol(NEAR)$5.12-10.70%
  • bitcoin-cashBitcoin Cash(BCH)$183.31-3.86%
  • moneroMonero(XMR)$187.47-6.40%