Bitcoin

Resistance

Bitcoin price failed again to clear the $44,000 resistance zone. BTC is declining and might be at risk of a downside break below the $41,500 level. 
<ul> 
 <li>Bitcoin is slowly moving lower from the $43,800 resistance zone.</li> 
 <li>The price is trading below $43,000 and the 100 hourly Simple moving average.</li> 
 <li>There is a key bearish trend line forming with resistance near $42,550 on the hourly chart of the BTC/USD pair (data feed from Kraken).</li> 
 <li>The pair could continue to decline if it stays below the $43,000 level.</li> 
</ul> 
<h2 id="bitcoin-price-takes-hit">Bitcoin Price Takes Hit</h2> 
Bitcoin price made a <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-regains-strength-43500/" target="_blank" rel="noopener ">fresh attempt to gain pace</a> above the $43,200 level. BTC climbed above the $43,500 level, but it struggled to reach the $44,000 resistance zone. 
A high was formed near $43,792 and the price started a fresh decline. There was a clear inverted V pattern formed and the price declined below the $43,200 level. The bears were able to push the price below the 50% Fib retracement level of the upward move from the $41,637 swing low to the $43,792 low. 
Bitcoin is now trading below $43,000 and the <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-faces-rejection-43500/" target="_blank" rel="noopener ">100 hourly Simple moving average</a>. It is also consolidating below the 61.8% Fib retracement level of the upward move from the $41,637 swing low to the $43,792 low. 
On the upside, immediate resistance is near the $42,500 level. There is also a key bearish trend line forming with resistance near $42,550 on the hourly chart of the BTC/USD pair. The first major resistance is $43,000. A close above the $43,000 level could send the price further higher. 
<a href="https://www.newsbtc.com/wp-content/uploads/2023/12/Bitcoin-23.png?resize=1024%2C449"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-567316" src="https://www.newsbtc.com/wp-content/uploads/2023/12/Bitcoin-23.png?resize=1024%2C449" alt="Bitcoin Price" width="1024" height="449" srcset="https://www.newsbtc.com/wp-content/uploads/2023/12/Bitcoin-23.png?resize=1024%2C449?w=1950 1950w, https://www.newsbtc.com/wp-content/uploads/2023/12/Bitcoin-23.png?resize=1024%2C449?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2023/12/Bitcoin-23.png?resize=1024%2C449?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2023/12/Bitcoin-23.png?resize=1024%2C449?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2023/12/Bitcoin-23.png?resize=1024%2C449?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2023/12/Bitcoin-23.png?resize=1024%2C449?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2023/12/Bitcoin-23.png?resize=1024%2C449?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
Source: <a href="https://www.tradingview.com/symbols/BTCUSD/" target="_blank" rel="noopener nofollow">BTCUSD on TradingView.com</a> 
The main hurdle sits at $43,250. A close above the $43,250 resistance could start a decent move toward the $43,800 level. The next key resistance could be near $44,000, above which BTC could rise toward the $45,000 level. 
<h2 id="more-losses-in-btc">More Losses In BTC?</h2> 
If Bitcoin fails to rise above the $43,000 resistance zone, it could continue to move down. Immediate support on the downside is near the $42,150 level. 
The next major support is near $41,650. If there is a move below $41,650, there is a risk of more losses. In the stated case, the price could drop toward the $40,500 support in the near term. 
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 – $42,150, followed by $41,650. 
Major Resistance Levels – $42,550, $43,000, and $43,800.

Bitcoin Price Faces Another Rejection, Why BTC Is At Risk Before The New Year

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