Bitcoin stopped working to clear the $39,500 resistance zone versus the United States Dollar. BTC began a fresh decrease and is revealing bearish indications listed below $38,000.

.Bitcoin stopped working to get strength above the $39,000 level and remained listed below $40,000.The cost is trading listed below $38,500 and the 100 per hour basic moving average.There was a break listed below an essential increasing channel with assistance near $38,250 on the per hour chart of the BTC/USD set (information feed from Kraken).The set stays at a threat of more drawbacks listed below the $36,300 assistance zone.Bitcoin Price Struggle Continues.

Bitcoin cost began an upside correction above the $38,000 resistance. BTC had the ability to clear the $38,500 resistance and the 100 per hour easy moving average.

However, the rate had a hard time to get strength above the $39,000 level. It even remained well listed below the $40,000 resistance zone. A high was formed near $39,250 and the cost began a fresh decrease. There was a sharp decrease listed below the $38,500 level and the 100 per hour basic moving average.

Besides, there was a break listed below an essential increasing channel with assistance near $38,250 on the per hour chart of the BTC/USD set. Bitcoin rate traded listed below $37,000 and a low is formed near $36,673.

It is now dealing with and combining losses resistance near the $37,280 level. The mentioned resistance is close to the 23.6% Fib retracement level of the current decrease from the $39,250 swing high to $36,673 low. The next crucial resistance is near the $38,000 level.

.Source: BTCUSD on TradingView.com.

The 50% Fib retracement level of the current decrease from the $39,250 swing high to $36,673 low is likewise near $38,000 together with the 100 per hour easy moving average. A clear relocation above the $38,000 resistance might send out the cost to $39,000. To acquire bullish momentum, the cost should settle above the $39,500 level.

.More Losses in BTC?

If bitcoin stops working to begin a healing wave above the $37,280 resistance zone, it might continue to move down. An instant assistance on the disadvantage is near the $36,650 zone.

The next significant assistance is seen near the $36,300 level. The rate may get bearish momentum towards $35,000 if there is a disadvantage break listed below the $36,300 assistance zone.

Technical signs:

Hourly MACD –– The MACD is now acquiring speed in the bearish zone.

Hourly RSI (Relative Strength Index) –– The RSI for BTC/USD is well listed below the 50 level.

Major Support Levels –– $36,300, followed by $35,000.

Major Resistance Levels –– $38,000, $38,400 and $39,500.

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Read more: newsbtc.com