{"id":3889,"date":"2021-05-30T15:37:37","date_gmt":"2021-05-30T14:37:37","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=3889"},"modified":"2021-05-30T15:37:44","modified_gmt":"2021-05-30T14:37:44","slug":"bitcoin-continues-to-fall-heres-why-btc-could-fall-to-a-new-monthly-low","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/bitcoin-continues-to-fall-heres-why-btc-could-fall-to-a-new-monthly-low\/","title":{"rendered":"Bitcoin Continues To Fall, Here&#8217;s Why BTC Could Fall To A New Monthly Low"},"content":{"rendered":"\n<p>The <a href=\"https:\/\/coinscreed.com\/staging\/83k-bitcoin-price-likely-to-work-out-according-to-analysis.html\" class=\"rank-math-link\">price of Bitcoin<\/a> is showing bearish signs and is trading well below $40,000 against the US dollar. BTC is likely to increase losses below $34,000 and $32,000 shortly.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Bitcoin failed to resolve above $40,000 and started a further decline below $38,000.<\/li><li>The price now trades well below $40,000 and 100 Simple Moving Averages (4 hours).<\/li><li>The main downtrend line is the resistance near $37,500 on the BTC\/USD four hour chart (Kraken power data).<\/li><li>The pair is anticipated to continue lower as long as it trades below $ 38,000 and $40,000.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Bitcoin Price Turns Red.<\/h2>\n\n\n\n<p>Last week, the price of bitcoin began a decent rally above the $35,000 level against the US dollar. The BTC\/USD pair even broke through the resistance level of $38,000.<\/p>\n\n\n\n<p>However, the price did not break through the $40,000 level and remained well below 100 simple moving averages (4 hours). The high value formed near $40,971, and the price began to fall further. There was a break below the $38,000 support level.<\/p>\n\n\n\n<p>Bitcoin is trading below the 50% Fib retracement level on the upside from a low of $31,296 to a high of $40,971. The main bearish line also forms with resistance near $37,500 on the four hour BTC\/USD pair chart.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1600\" height=\"946\" src=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/05\/Bitcoin-21.png\" alt=\"Bitcoin Price Charts\" class=\"wp-image-3890\" srcset=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/05\/Bitcoin-21.png 1600w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/05\/Bitcoin-21-300x177.png 300w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/05\/Bitcoin-21-1024x605.png 1024w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/05\/Bitcoin-21-768x454.png 768w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/05\/Bitcoin-21-1536x908.png 1536w\" sizes=\"(max-width: 1600px) 100vw, 1600px\" \/><figcaption>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noreferrer noopener\">BTCUSD on TradingView.com<span class=\"wpil-link-icon\" title=\"Link goes to external site.\" style=\"margin: 0 0 0 5px;\"><svg width=\"24\" height=\"24\" style=\"height:16px; width:16px; fill:#000000; stroke:#000000; display:inline-block;\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:svg=\"http:\/\/www.w3.org\/2000\/svg\"><g id=\"wpil-svg-outbound-7-icon-path\" fill=\"none\" clip-path=\"url(#clip0_31_188)\">\r\n                            <path d=\"M9.16724 14.8891L20.1672 3.88908\" stroke-linecap=\"round\"\/>\r\n                            <path d=\"M13.4497 3.53554L20.5208 3.53554L20.5208 10.6066\" stroke-linecap=\"round\" stroke-linejoin=\"round\"\/>\r\n                            <path d=\"M17.5 13.5L17.5 16.26C17.5 17.4179 17.5 17.9968 17.2675 18.4359C17.0799 18.7902 16.7902 19.0799 16.4359 19.2675C15.9968 19.5 15.4179 19.5 14.26 19.5L7.74 19.5C6.58213 19.5 6.0032 19.5 5.56414 19.2675C5.20983 19.0799 4.92007 18.7902 4.73247 18.4359C4.5 17.9968 4.5 17.4179 4.5 16.26L4.5 9.74C4.5 8.58213 4.5 8.0032 4.73247 7.56414C4.92007 7.20983 5.20982 6.92007 5.56414 6.73247C6.0032 6.5 6.58213 6.5 7.74 6.5L11 6.5\" stroke-linecap=\"round\"\/>\r\n                        <\/g>\r\n                        <defs>\r\n                            <clipPath id=\"clip0_31_188\">\r\n                                <rect fill=\"white\" height=\"24\" width=\"24\"\/>\r\n                            <\/clipPath>\r\n                        <\/defs><\/svg><\/span><\/a><\/figcaption><\/figure>\n\n\n\n<p>The pair now tests the 76.4% Fib pull level to drop from $31,296 to $40,971. If the low falls below the support levels of $34,000 and $33,500, the price will likely accelerate to the bottom.<\/p>\n\n\n\n<p>The next significant support is near the $31,250 level, below which the price is likely to test the $30,000 support level in the short term.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Upsides Limited in BTC?<\/h2>\n\n\n\n<p>If bitcoin remains stable above the $33,500 level, a new wave could start. Initial resistance to the upside is near the $36,500 level.<\/p>\n\n\n\n<p>The first significant resistance is near the trendline and is $38,000. The primary resistance is now near $40,000. Close to $40,000 is imperative to initiate stable short-term growth. The next key hurdle could be $45,000.<\/p>\n\n\n\n<p><strong>Technical indicators<\/strong><\/p>\n\n\n\n<p>4-hour MACD &#8211; MACD for BTC \/ USD is gaining momentum in the bearish zone.<\/p>\n\n\n\n<p>4 hour RSI (Relative Power Index) &#8211; The RSI for BTC \/ USD is now well below the 50 levels.<\/p>\n\n\n\n<p>Major Support Level &#8211; $33,500<\/p>\n\n\n\n<p>The main resistance level &#8211; $38,000<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The price of Bitcoin is showing bearish signs and is trading well below $40,000 against the US dollar. BTC is likely to increase losses below $34,000 and $32,000 shortly. Bitcoin failed to resolve above $40,000 and started a further decline below $38,000. The price now trades well below $40,000 and 100 Simple Moving Averages (4 [&hellip;]<\/p>\n","protected":false},"author":63,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-3889","post","type-post","status-publish","format-standard","hentry","category-news"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/3889","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/63"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=3889"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/3889\/revisions"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=3889"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=3889"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=3889"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}