Ta: Bitcoin struggles to retain its core support, which could lead to bigger drawbacks

The Bitcoin price is clearly not $ 48,000 and is set lower against the US dollar. BTC will expand its decline by breaking the $ 45,000 support field.

Bitcoin has started a new slump after failing to overcome open resistance of $ 48,000.
The price is currently $ 47,000 and trades below the 100-hour simple moving average.
On the hourly chart of the BTC / USD pair, there was a break below the main bullish Trend line with support of $ 46,400 (data flow from the Kraken).
The pair will prolong the fall if they fail to stay above the $ 45,000 support.

Bitcoin Price Adjusted Lower

The price of Bitcoin made another attempt to surpass the resistance field of $ 48,000. However, BTC struggled to gain strength, leading to a decline in support of $ 47,000.

The price fell below the support level of $ 46,500 and the 100-hour simple moving average. In addition, there was a break below the main bullish Trend line with support around $ 46,400 on the hourly chart of the BTC/USD pair.

The pair jumped below the support level of $ 45,500 but remained above $ 45,000. The tier accounted for about $ 45,288, and the price is now compounding the losses. $ 46,000 from the O seviyesinden level. From the highs of $ 23.6 to $ 48,080, there was a break above the Fibonacci correction level after the recent drop to $ 45 288.

On the plus side, sudden resistance is near the $ 46,500 level. The first major resistance is near the $ 46,750 level and the 100-hour simple moving average.

Source: BTCUSD on TradingView.com

The latest drop of 50% is near the $ 46,685 level, from $ 48,080 to a low of $ 45 288. Had Bitcoin known the resistance levels of $ 46,700 and $ 47,000, it could have regained the resistance area of $ 48,000 in the near term.

Are there more losses at BTC?

If Bitcoin does not rise above resistance levels of $ 46,700 and $ 47,000, this will lead to an expansion of the decline. The initial support at the bottom is near the $ 45,500 level.

The first big boost is now close to the $ 45,200 zone. Lack of basic support

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